Supply Chain
User's Dashboard

Platform.

OLegacy, is a Blockchain based platform that generates ERC20 tokens (100% backed by physical gold) called “OLegacy Tokens / O Tokens / OTs”, after a chain of smart contracts are signed by the following independent 3rd party service providers:

  1. OECD compliant refineries (Minters)
  2. ISO 17025 certified precious metals laboratories (Assayers)
  3. Top-tier international vaulting companies (Vaulter)
  4. Top-tier international auditing firms (Auditors)

Confirming

Count, weight and fineness of the underlying OLegacy Gold Coins backing the O Tokens.

OLegacy Gold Coins backing the O Tokens are already insured & vaulted at 3rd party vaulting companies in several locations around the world for the O Token holder to redeem at any given time.

OLegacy Platform has two main components:

Supply Chain

Supply Chain

User’s Dashboard

User’s Dashboard

Supply Chain.

The OLegacy Supply Chain (built on Hyperledger Sawtooth), is where the gold coins’ minting, assaying, vaulting and auditing is tracked and registered via a chain of smart contracts prior to the generation of the “O Tokens”.

The Hyperledger Sawtooth Blockchain is used for:

  • The smart contracts governing the asset (Gold) movement and consensus among parties involved in generation and redemption of “O Tokens”.
  • Having a transparent ecosystem for generation and redemption of “O Tokens”, by the syncing of nodes publicly for transactions’ verification.
  • Tracking the complete movement of the asset (Gold).

The 3rd party signers, involved in the “O Token” generation process:

  • Minter
  • Metals Inspection & Sampling Company
  • Vaulting Company (Including Insurance)
  • Auditing Firm

Hyperledger Sawtooth Blockchain triggers the “O Token” generation order on the Ethereum Blockchain (Ledger Sync / Event Listener) once all parties have signed the chain of smart contracts using their private keys.

A similar process is followed for token redemption, where the Hyperledger Sawtooth smart contracts invoke the Ethereum Ecosystem for burning of tokens.

The “O Token” Generation Process

  • Gold is always placed first
  • The placed Gold is tested by the Minter (Refinery).
  • The Minter (Refinery) Initiates the smart contract on the OLegacy Platform – Supply Chain
  • The Minter (Refinery) mints the Gold into the OLegacy Gold Coins.
  • The Minter (Refinery) signs the smart contract, confirming the quantity, weight and fineness of the minted OLegacy Gold Coins.
  • The OLegacy Gold Coins are independently inspected by an internationally accredited Metals Inspection and Sampling Company, and their test report is uploaded to the system (available for users’ viewing).
  • The independent Metals Inspection and Sampling Company signs the smart contract, confirming the quantity, weight and fineness of the minted OLegacy Gold Coins.
  • The OLegacy Gold Coins are independently vaulted at one of the international Vaulting Companies in several locations around the world (London, Singapore, Hong Kong, Dubai, Zurich…etc.). Vault report and insurance policy are uploaded to the system (available for users’ viewing).
  • The independent international Vaulting Company signs the smart contract, confirming:
  • The quantity of OLegacy Gold Coins vaulted, along with the relevant certificates
  • That the vaulted OLegacy Gold Coins are insured
  • That a legally-binding irrevocable undertaking by OLegacy is in-place relinquishing the rights to the gold and confirming that the vaulted OLegacy Gold Coins are the legal property of the “O Token” holder, to redeem at any given time.
  • The vaulted OLegacy Gold Coins are independently counted by one of the top international Auditing Firms, and their “Report of Factual Findings” is uploaded to the system (available for users’ viewing).
  • The independent international Auditing Firm signs the smart contract, confirming the quantity of OLegacy Gold Coins vaulted.
  • Once all the parties have signed the chain of smart contracts using their Private Keys, The “O Token” Generation Order is triggered

The fully executed chain of smart contracts will trigger the “O Token” Generation Order on the Ethereum Blockchain, which will generate an equivalent number of “O Tokens” as per the following formula:

"1 OLegacy Gold Coin = 1,000 O Tokens"

The generated O Tokens and total supply can be tracked publicly on Etherscan.io

Sample Transaction Hash (O Token Generation)

At any given time:

The total OLegacy Gold Coins (OLGCs) in vaults will always be equal to the total “O Tokens” (OTs) in circulation (at 1 OLGC = 1,000 OTs)

The redeemed (burnt) O Tokens can be tracked publicly on Etherscan.io

Sample Transaction Hash (O Token Burning)Every time O Tokens are redeemed for physical gold (OLegacy Gold Coins), the Total O Tokens’ Supply is reduced by an equivalent amount of the redeemed O Tokens, maintaining the balance of Total OLegacy Gold Coins (OLGCs) in Vaults equal to the Total “O Tokens” (OTs) in Circulation (at 1 OLGC = 1,000 OTs)

User’s Dashboard.

The User’s Dashboard is where the user:

  • View Portfolio Balances
  • Add / Remove Bank Accounts
  • Add Funds (different currencies)
  • Withdraw Funds (different currencies) to the user’s whitelisted bank account
  • Exchange / one currency to the other
  • Purchase “O Tokens”
  • Send & Receive “O Tokens”
  • Redeem “O Tokens”
  • For Physical Gold (OLegacyGold Coins) – Self Pickup
  • For Physical Gold (OLegacy Gold Coins) – Couriered to the user’s whitelisted address
  • For FIAT Currency, at Gold’s Spot Price
  • View accounts’ statements
  • View various supply chain related reports: Testing, Auditing, Vaulting and Insurance Policies