Dear TideBit customers,
Global stock market and asset price fluctuated greatly in recent days. In order to provide users with better safe-haven assets, TideBit will open GDX token transfer and withdrawals, and GDX / HKD trading pair at 12:00pm on March 11, 2020.
Since 30 March,2020, we revised the name GDX to GOLD and the trading pair will show as GOLD/HKD (https://www.tidebit.com/markets/goldhkd ).
What is GOLD?
GOLD is a blockchain asset that exists in the ERC20 format with an anchor price of 1 oz (1 Oz) gold. The ERC20 contract address is 0x4f523b9efefc72f0afe31549f605bfe30266a299.
GOLD adopts dual credit endorsement for its issuance. Each GOLD is issued in decentralized exchange under collateralized blockchain assets. If user has accumulated a certain quantity of GOLD, the GOLDs can be exchanged for physical gold through TideBit.
How is the price of GOLD determined?
The guide price of GOLD is priced at 1 ounce (1 Oz) of gold. As of 11 am on March 11, 2020, the price of 1 ounce (1 Oz) of gold is US$1656, thus the price of GOLD is about US$1656.
TideBit has arranged market makers to provide market liquidity and price discovery.
What are the benefits of holding GOLD?
Holding 3.527 GOLD (that is, 3.527 ounces), you can contact customer service to make an appointment 7 days in advance to redeem 100 grams of gold bars at our cryptocurrency concept point in Wan Chai or Jordan, the handling fee is HK$2000 per gold bar.
Thank you for your support.
11 March 2020
Revised on 30 March 2020