Gold-Backed ABT with Vault Audits ($5M)
Commodity token with monthly third-party audits and redemption at partner vault; on-chain registry and transfer limits. An anonymized practitioner case.
Snapshot
$5,000,000 Investors
980 participants Timeline
9 months (to secondary) Stage
Secondary Platform
Regulated Platform Status
Live audits & redemption Anonymized
Context & Objectives
Issuer: Swiss precious-metals operator aiming to provide digitally native exposure to allocated gold with transparent audits and redemption logistics.
- Offer a 1:1 gold-backed token with clear custody chain and monthly attestations.
- Enable redemption at partner vaults and insured shipping options.
- List on a regulated venue with transfer controls and jurisdiction filters.
Structure & Backing
Asset-Backed Token (ABT) representing title to an equivalent weight of allocated gold bars meeting LBMA standards.
Tier-1 partner vault in Switzerland; bar-level serials mapped to on-chain registry; insurance evidence maintained.
Mint against metal inbound to vault; burn upon physical redemption or wholesale unwind; on-chain supply mirrors custody ledger.
Key Terms (Indicative)
| Backing | Allocated gold (LBMA bars) in Swiss vault |
| Audits | Monthly third-party stocktake + reconciliation to on-chain supply |
| Redemption | At vault (by appointment) or insured courier; fees per schedule |
| Pricing reference | London spot +/- venue spread; NAV dashboard daily |
| Transferability | Whitelist; blocked geographies; venue-approved secondary |
| Fees | Annual storage %, audit/admin; redemption & delivery fees |
Provider Stack
Regulated platform (subscription, registry, corporate actions)
Partner Swiss vault; bar-level ledger; insurance certificates
Independent metals auditor with monthly attestations
Venue-integrated IDV, sanctions/PEP, geography filters
Bank wires; stablecoin rails for on/off-ramp (where permitted)
Commodity token T&Cs, custody agreement, redemption policy
Audit & Redemption Mechanics
- Monthly audit: auditor reconciles bar list (serial, weight, fineness) to circulating token supply; variance report published.
- On-chain registry: token contract exposes total supply; registry UI shows bar-level mapping and audit history.
- Redemption flow: KYC’d holder requests redemption → burn tokens → collect bars at vault or arrange insured shipping.
- Incident playbook: pause mint/transfer on audit variance; notify investors; remediate per policy.
Investor Funnel
- Qualified investors complete KYC/eligibility on platform.
- Subscription via wire/stablecoin (where allowed) → tokens issued to whitelisted wallet/custody.
- Hold, trade on venue windows, or redeem physically per policy.
- Review monthly audit packs and storage/insurance attestations.
Compliance & Controls
Tiered checks; SoF/SoW for higher tiers; periodic refresh.
Whitelist enforcement; blocked jurisdictions; venue-only secondary.
Storage location, insurance, audit partner, fee schedule, risks.
On-chain supply + off-chain bar lists; immutable audit archive.
Secondary & Liquidity
Venue-approved secondary among whitelisted wallets. Spreads anchored to spot minus fees; redemption option supports pricing discipline.
Key Risks & Mitigations
Reputable vault; insurance; dual-control access; monthly audits.
Transparent reference (spot/LBMA); clear spread/fee policy.
SLAs with vault/courier; clear KYC for physical pickup.
Jurisdiction filters; disclosure updates; change-control clauses.
Downloads
This case is anonymized; downloads are generalized templates.
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