ERC - 20
The Gold & Silver Standard
Each Gold Silver Pirate is backed by real physical gold and silver bullion. The amount of gold and silver that backs each NFT is determined by their attributes – each attribute being worth a certain amount of gold or silver pieces.
1 gold piece = 1 AUS token = 1 gram of gold bullion
1 silver piece = 1 AGS token = 1 gram of silver bullion
Tokens are minted as and when bullion is deposited in Australia’s largest high-security vault, Reserve Vault. At that time a publicly accessible database is updated with the serial number of each bar added together with the transaction ID for those minted tokens. At any time, anyone can interrogate the blockchain and the database to see that the number of tokens issued equals the number of grams of each metal already securely held. For added comfort, all metal is fully insured by the world’s pre-eminent insurer and held by Gold Silver Standard Custodian (GSSC).
AUS and AGS are fully redeemable for metal, independently audited, fully allocated with direct legal ownership, available to trade 24/7 and brought to you by a nearly 50-year-old bullion dealer, independent of government and financial institutions and located in geopolitically safe Australia.
The above address is a secured ERC-20 wallet which owns the Gold and Silver tokens backing the collection as well as the collection contract itself.
Every NFT token has an identifying code called ‘TokenID’. This number acts like your fingerprint for the NFT, allowing you to uniquely identify and track each one. The amount of gold and silver backing an NFT is shown by its attributes.
Gold Silver Standard is part of the Ainslie Group in Australia. Established in 1974, Ainslie are the largest bullion and crypto dealer in Australia together with providing secure vaulting solutions in Melbourne and Brisbane. Gold Silver Standard Custodian is a clean, insolvency proof company that holds the fully allocated, audited and insured bullion the gold and silver tokens have a legal ownership of.
Whilst we’re extremely confident there will always be an open and liquid market for you to trade your NFT, you will also have a guaranteed buyback from Ainslie Wealth (AW – Elibert Pty Ltd) – the centralised mechanism to maintain the price floor.
The guarantee is facilitated by the NFT owner emailing Ainslie Wealth (firstname.lastname@example.org) and offering their NFT for sale and providing the public address for that NFT together with their receiving wallet address for taking the proceeds as an approved digital currency (USDT, USDC, BTC or ETH only). Ainslie Wealth will accept the offer at the published buyback price listed on the Ainslie Wealth website (ainsliewealth.com.au/dashboard “Sell Price”) for the amount of the combined embedded AUS and/or AGS tokens and that price locked at the time of provision of a TXID for the transfer with no less than 10 confirmations. Payment taken in digital currency will be based on the conversion of the AUD amount to the approved digital currency at the published “Buy Price” rate listed on the same Ainslie Wealth website dashboard page. Offers can only be locked between the hours of 0800 and 1600 Australian Eastern Standard Time (UTC+10) on Business Days.