What is GLDT (GLDT)?

Quick Facts

  • Blockchain: Internet Computer Protocol (ICP)
  • Issuer: Gold DAO, governed via ICP's Service Nervous System (SNS)
  • Backing: Physical gold bars stored in Switzerland
  • Custodians: Loomis and Metalor; audited quarterly by KPMG
  • Gold quality: 99.99% refined gold procured by Metalor
  • Minting: Created by swapping GLD NFTs for fungible GLDT tokens
  • Use cases: DeFi collateral, yield farming, staking, gold redemption

Introduction

GLDT is a fully gold-backed, fungible digital token issued and governed by the Gold DAO on the Internet Computer Protocol (ICP). It enables anyone to hold fractional ownership of real, audited physical gold in a fully decentralized and transparent way.

Unlike traditional gold-backed instruments, GLDT is entirely owned and controlled by a DAO — making it the first gold token of its kind to be both physically backed and fully decentralized.

History & Background

Gold DAO was initiated by DAO.Link, a Swiss company specializing in launching decentralized autonomous organizations. The project was built in collaboration with key partners including the ORIGYN Protocol, Yumi Marketplace, DFINITY Foundation, Metalor, Loomis, and KPMG.

Gold DAO transitioned to full community governance through an SNS launch in late 2023. The GLDT token itself was officially launched in October 2024, marking the debut of the world's first fully decentralized, physically backed gold token.

How GLDT Works

The Gold DAO's system operates in layers. First, physical gold bars are tokenized into GLD NFTs — unique non-fungible tokens representing specific gold bars held in secure vaults in Switzerland.

These GLD NFTs can then be swapped into GLDT, a fungible token that allows fractional gold ownership and easy transferability. The reverse swap is also possible, allowing holders to reclaim GLD NFTs and ultimately redeem physical gold from partnered vaults.

All code — including the GLDT ledger and swap application — is owned and controlled by the Gold DAO on ICP, ensuring no central party can interfere.

Tokenomics

GLDT tokens are minted directly by swapping GLD NFTs, keeping the supply strictly tied to the amount of physical gold held in custody. Minting GLDT from GLD NFTs is free of charge.

A small flat fee applies to reverse swaps (converting GLDT back to GLD NFTs), and each transfer incurs a nominal transaction fee. All fees flow back to the Gold DAO treasury, where GOLDAO governance token holders vote on how those funds are deployed.

Circulating supply ? 594,500 GLDT
Total supply ? 594,500 GLDT
Max supply ? -- GLDT
Updated 23h ago

Ecosystem & Use Cases

GLDT is designed to function as a versatile asset within DeFi:

  • DeFi Collateral: Its stable gold backing makes GLDT a reliable collateral asset for decentralized lending and borrowing.
  • Yield Farming: Holders can provide liquidity on decentralized exchanges (DEXs) by pairing GLDT with ICP or ckUSDT to earn trading fees.
  • Staking: GLDT can be staked to earn governance rewards distributed in GOLDAO, ICP, and OGY tokens.
  • Gold Redemption: Holders can reverse-swap GLDT for GLD NFTs to reclaim physical gold from Swiss vaults.

GLDT also serves as the collateral foundation for USDG, a planned USD-pegged stablecoin backed by gold.

Team, Governance & Community

Gold DAO operates as a fully decentralized organization through ICP's Service Nervous System (SNS). GOLDAO governance token holders can submit and vote on proposals covering software updates, treasury management, and strategic direction.

Day-to-day operations are delegated to the team at DAO.Link under a DAO-approved mandate. The broader ecosystem includes institutional partners such as Metalor and Loomis for gold custody, and KPMG for quarterly on-site audits.

Advantages

  • Physical backing: Every GLDT is tied to real, audited gold held in Swiss vaults.
  • Full decentralization: The DAO owns all frontend, backend, and ledger infrastructure — no central custodian.
  • Transparency: Quarterly KPMG audits and on-chain governance provide high accountability.
  • DeFi-ready: GLDT functions as collateral, liquidity, and a yield-bearing asset within ICP's DeFi ecosystem.
  • Staking rewards: Holders can earn passive income while retaining gold exposure.

Risks & Challenges

  • Custody risk: Physical gold held by third-party custodians introduces counterparty and operational risk.
  • Adoption stage: GLDT is still in early growth phases and depends on increasing demand to scale liquidity.
  • ICP ecosystem dependency: Liquidity and utility are currently concentrated within the Internet Computer Protocol ecosystem.
  • Regulatory environment: Tokenized real-world assets remain subject to evolving global regulatory frameworks.

Long-Term Vision

Gold DAO's long-term ambition is to make gold a fully liquid, programmable, and globally accessible asset for the digital economy. By expanding GLDT to additional blockchains and DEXs, and by launching the gold-backed stablecoin USDG, the project aims to position physical gold at the center of decentralized finance.

The vision is a future where anyone, anywhere, can own, trade, and earn yield on gold — without relying on banks, brokers, or centralized intermediaries.

Frequently Asked Questions

GLDT is a fungible digital token on the Internet Computer Protocol (ICP) that represents fractional ownership of physical gold bars. It is issued and fully governed by the Gold DAO.

Physical gold bars of 99.99% purity are stored in high-security vaults in Switzerland by Loomis and Metalor. These holdings are audited quarterly on-site by KPMG to verify the backing.

GLDT can be minted by swapping GLD NFTs — which represent specific physical gold bars — into fungible GLDT tokens at no cost. It can also be traded on decentralized exchanges within the ICP ecosystem.

Yes. Holders can perform a reverse swap to convert GLDT back into GLD NFTs, which represent ownership of specific gold bars stored in Swiss vaults. A flat fee of 1 GLDT applies per reverse swap.

GLDT can be used as collateral in DeFi applications, provided as liquidity on DEXs to earn trading fees, or staked to earn governance rewards in GOLDAO, ICP, and OGY tokens.

Gold DAO is governed by GOLDAO token holders through ICP's Service Nervous System (SNS). They vote on proposals covering upgrades, treasury use, and project direction.

USDG is a planned USD-pegged stablecoin that will be collateralized by GLDT. It represents the next step in Gold DAO's vision of using gold as the foundation for decentralized financial instruments.

Gold DAO was initiated by DAO.Link, a Swiss company that builds and enables DAOs. The project involved key institutional partners including Metalor, Loomis, KPMG, and the ORIGYN Protocol.