What is HelloGold?
HelloGold is a start-up that creates simple and accessible gold products for everyone, providing access to gold as a form of savings, loan collateral and remittance (value transfer). Founded in 2015 and headquartered in Kuala Lumpur, Malaysia, HelloGold built the world’s first Shariah compliant gold digital application that changes the way you buy and sell gold.
Who is HelloGold Foundation?
The HelloGold Foundation (HGF) is an organisation that has been set up by HelloGold with two primary objectives:
1. accelerate the use of blockchain technology for use by the mass market
2. expand the availability of products that help the underserved and unbanked in emerging markets to have better and more affordable access to simple financial products beyond cash; i.e. providing the ability to diversify savings and better preserve wealth.
What is the Token Sale?
The Token Sale is a sale of HelloGold Tokens (HGT) by the HelloGold Foundation that provides its holder with a potential stream of Gold Backed Tokens (GBT). The amount of GBT issued will be based on an endowment from HelloGold. The endowment is 10% of HelloGold's management fee revenue. GBT issued to HGT are capped at a maximum total issuance of 3.8 tonnes of gold (3,800,000 grams).
Each GBT is backed by 99.99% investment-grade gold and may be redeemed as physical gold in 1g increments if a user registers as a HelloGold user.
Why is the Token Sale being run?
A Token Sale is a fundraising exercise which allows HelloGold Foundation to provide support to entities which align with the objectives of expanding both the use of blockchain technology and access to financial products for the mass market. The first Token Sale run will be used to provide a grant to HelloGold.
What is the difference between HGT and GBT?
HGT is a token for supporting the objectives of the HelloGold Foundation. Supporters may be rewarded with any GBT distributed to HGT holders. It has no intrinsic value and is not backed by any real-world asset. A total of 1,000,000,000 (one billion) HGT will be minted.
GBT is a token that is fully backed by 99.99% investment grade gold. 1 GBT is always tied to 1g of gold, which is allocated and securely vaulted in Singapore. There will be 3 ways of receiving GBT in future:
1. Provided as a reward for HGT holders by the HelloGold Foundation.
2. Converting gold held as a customer of HelloGold into GBT. This allows for exchange outside the HelloGold platform.
3. Direct purchase of GBT to access the benefits of a stablecoin.
How is GBT different to other crypto gold tokens?
GBT is a token that is fully backed by 99.99% investment grade gold. It is redeemable as physical gold in 1g increments if the token holder registers as a HelloGold user. The design of the token is based on HelloGold’s existing gold product, which has been released in the market and proven to be sustainable.
For more information on the product, go to: https://www.hellogold.com/how-it-works/
How much will HGT cost?
HGT has been priced in ETH to align with the target fund raise of US$9.6 million for Round 1, bearing in mind the 5-tranche Token Sale structure (with varying bonus token allocations per tranche) and total tokens in the Round 1 sale of 80,000,000 (eighty million). Please see the Token Sale page for details.
What is the return on HGT?
There is no guaranteed return on HGT. The disbursement of reward GBT to HGT holders is discretionary by HGF. However, as the lifetime total allocation of GBT is capped at 3,800,000 GBT (i.e. 3.8 metric tonnes of gold) to the 1,000,000,000 HGT created, each HGT will receive a maximum of 0.0038 GBT (i.e. 0.0038 g of gold).
The return on HGT will then depend on:
• the price of gold, and
• the speed at which HelloGold's gold Assets Under Management grow before the maximum amount of GBT is issued
What rights does HGT ownership provide?
HGT holders have a right to a proportional share of any reward GBT disbursed by HGF.
When is the process being run?
The process will be run in 3 Rounds, each anticipated to be 12 months apart. Round 1 was launched on 28 August 2017.
What is the ICOage Token Resale?
Following the announcement by People’s Bank of China on 4 September 2017, HGF decided to support ICOage’s efforts to refund all their customers who participated in ICOage’s token pre-sale. The ICOage Token Resale involves reselling 170 million HGT of the amount originally pre-sold via ICOage.
More detail on the ICOage Token Resale can be found here: https://www.hellogold.org/announcement.html
What is the HelloGold Token contract address?
You can find the HelloGold Token contract address by typing hgt.thetoken.eth into any blockchain explorer, which resolves to 0xba2184520a1cc49a6159c57e61e1844e085615b6.
NOTE: This is not the Token Sale address. Please DO NOT send any ETH to this address. Any ETH sent to this address will be lost permanently.