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GoldZIP (XGZ)
One of the flagship tokens of the ABT-DEX ecosystem. 100% Fully backed and redeemable with physical gold in a vault and managed by GoldZIP.
How it works
ABT-DEX makes use of two blockchains for digital asset transfer, the V SYSTEMS and Ethereum Blockchain. Tokens are exchanged through a process called ‘Atomic Swap’ are retrieved to each other respective wallets. No custodians and a fully decentralized process.
Smart Contract - V Atomic Swap
The ‘V Atomic Swap’ is a smart contract released during in the V SYSTEMS v0.4.2 Riemann release. The V Atomic Swap contract enables cross-chain swaps enabling users to swap ERC-20 based tokens for VSYS Mainnet Tokens. No trusted party or custodians hold the tokens and are traded by protocol.
For more information, visit Github or the Official Documentation
Where to buy VSYS
VSYS is now handled by an ecosystem of exchanges, wallets and platforms. To buy VSYS, please visit one of the partner Exchanges below:
How to buy XGZ Token
Step 1:
Download the Titan Wallet Extension and MetaMask
Step 2:
Visit the Swap Application - ABT DEX
Step 3:
Connect Your Wallets to the Application
Step 4:
Buy or Sell USDT/XGZ token Pairs
FAQ
GoldZIP Token (XGZ) is the first gold backed digital token issued by the subsidiary of Chinese Gold & Silver Exchange (CGSE). The Exchange was established in 1910 and it is the sole precious metal exchange in Hong Kong.
The amount of gold representing the supply for GoldZIP is a 1:1 ratio - one gram of gold equals to one XGZ token. The total supply of XGZ is minted from selected brands of gold bars and equates to the total supply within the vault.
Currently ABT exchange supports buying XGZ tokens with USDT from an ERC-20 address. When you want to sell XGZ, we will accept XGZ from a VSYS address.
Whenever you buy or sell XGZ Token from ABT exchange pages, ABT-Dex will charge a small fee to process the transaction. There are two types of transaction fees that are associated with transferring XGZ token from one VSYS address to another.
Standard ‘gas’ fee: When sending digital assets on Ethereum, a computing power called ‘gas’ is required. Like any other token on the Ethereum blockchain, USDT will require a standard gas fee paid in ETH to compute the transaction. For V SYSTEMS blockchain, XGZ will require 0.3 VSYS gas fees paid to compute transactions on the VSYS blockchain.
ABT ‘on-chain transaction' fees: ABT will charge an additional fee that is set as 0.3% of the amount of USDT sent on the blockchain.
Yes! GoldZIP (XGZ) tokens are fungible tokens which are divisible to up to 6 decimal points. If you purchase XGZ tokens from ABT-DEX, there is a minimum purchase amount of 0.01 XGZ.
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