Gold must always be placed first, minted, tested, vaulted, Insured and audited prior to OLegacy Token generation.
OLegacy Gold Coin must always be minted as 1 Troy Ounce of 999.9 Fine Gold
For every 1 OLegacy Gold Coin, 1,000 OLegacy Tokens shall be generated only after the following independent third parties have signed the “O Token Generation” chain of smart contracts:
- An OECD compliant minter
- An assayer
- A vaulter
- An auditor
For every 1 OLegacy Gold Coin physically redeemed from a vault, 1,000 OLegacy Tokens must be burnt and cease to exist.
At any given time, the total number of OLegacy Gold Coins in vaults must always be equal to the number of OLegacy Tokens in existence (at 1 OLGC = 1,000 OTs).
OLegacy Gold Coins in vaults are the legal property of OLegacy Token Holders.
OLegacy Tokens are redeemable in physical gold &/Or FIAT Currency at any given time and upon first request.
OLegacy mustn’t have access to users’ funds, gold, tokens, wallets or private keys.
OLegacy sets the rules for the O Token Generation only; and mustn’t be a signer on the “O Token Generation” chain of smart contracts or involved in the O Token Generation process.
Every OLegacy Token holder has the right to access vaulters’ reports, assayers’ gold test results and auditors’ reports of factual findings behind the generation of every single OLegacy Token.