EOS project’s sister chain GOLD.io is working on developing a decentralized exchange (DEX) in an effort to provide a smooth inter-blockchain communication and eliminate prevailing market inefficiencies.
Backed by a team of over 30 expert developers, the DEX aims to create a Decentralized Autonomous Community (DAC) tasked to regulate the exchange. In addition to having voting right, GOLD.io community members will also be able to define their own profits as well as influence the development of the project, bringing the industry a step closer to a “golden era” where everyone has the ability to make an impact.
Since its discovery, gold has been globally regarded as the one true standard for currencies, a feat which Gold.io also aims to achieve for exchanges. Despite the prevalence of volatility and price manipulation, investors still consider gold as a “safe haven,” as it stands resilient to fluctuations of the stock and bond market as well as price movements of digital assets, making the precious metal an indispensable defensive asset.
As the majority of stocks continuously plunge, Gold is poised to make a solid comeback. According to experts from Goldman Sachs, the prevailing fear across the financial markets could potentially catapult gold back as the leading investment asset.
While there is still no independent exchange proven to be capable of efficiently facilitating the trade of gold-pegged tokens with high liquidity, the number of crypto firms developing gold-backed digital assets have seen a steady rise in recent years.
While GOLD.io’s architecture possesses DEX features capable of eliminating third parties, rendering token holders as the sole custodians of their assets, its EOSIO blockchain features coupled with its solid community is what the team believes will bring back the “golden renaissance.” The DAC will remain self-regulated, with its community members determining all transaction aspects, including trading and fees.