GEM NFT Instant Buy Feature – March 2025
Convert Your GPRO Holdings into Tokenized Gold
Introduction
Unlock the value of your GPRO tokens by converting them into GEM NFTs – a promissory note for the delivery of 24-carat LBMA investment-grade Gold after 12 months from mint.
How It Works
The “Instant Buy” option allows investors to convert their GPRO holdings into GEM NFTs through the following steps:
- Gather Pricing Data
- Determine the Premium Percentage
- Calculate the Exchange Rate
- Calculate the Total GPRO Tokens to Burn
Step-by-Step Conversion Process
1. Gather Pricing Data. To ensure a fair and transparent exchange, we use real-time data.
- Daily Gold Price (GOLD_price):
- Definition: The average price of one gram of gold in USD, recalculated every 24 hours.
- Source: An on-chain Oracle that records the gold price hourly and computes a daily average.
- 90-Day Moving Average Price of GPRO (GPRO_price):
- Definition: The average trading price of GPRO tokens calculated over the past 90 days.
- Source: Hourly price feeds from cryptocurrency exchanges are aggregated into a daily average, which is then recorded on-chain.
- Desired GEM NFT Weight (NFT_weight):
- Definition: The gold weight in grams you wish to convert into a GEM NFT (e.g., 1g, 2.5g, 5g, 10g etc.).
2. Determine the Premium Percentage (p)
Based on your chosen NFT Weight, a premium fee (denoted as p) applies to cover operational costs and market efficiency:
- 1g ≤ NFT Weight ≤ 1,000g: 2% premium
- 1,000g < NFT Weight ≤ 5,000g: 1.75% premium
- NFT Weight > 5,000g: 1.5% premium
Example: For a 100g GEM NFT, the premium is 2%.
3. Compute the Exchange Rate
To determine how many GPRO tokens equal 1 gram of gold.
Exchange_rate = GOLD_price / GPRO_price
4. Calculate the Total GPRO Tokens to Burn
- Base Tokens:
GPRO_tokens_to_burn = NFT_weight × Exchange_rate
- Premium Fee:
Premium_fee = GPRO_tokens_to_burn × p
- Total Tokens:
Total_GPRO_tokens_to_burn = GPRO_tokens_to_burn + Premium_fee
Example Conversion
Investor Scenario:
- Desired GEM NFT Weight: 100g
- Daily Gold Price (GOLD_price): $100 per gram
- GPRO 90-Day Average Price (GPRO_price): $50
- Applicable Premium (p): 2%
Calculation Steps:
- Exchange Rate:
Exchange_rate = GOLD_price / GPRO_price = 100 / 50 = 2
- Base GPRO Tokens to Burn:
GPRO_tokens_to_burn = NFT_weight × Exchange_rate = 100g * 2 = 200
- Premium Fee:
Premium_fee = GPRO_tokens_to_burn × p = 200 * 2% = 4
- Total GPRO Tokens to Burn:
Total_GPRO_tokens_to_burn = GPRO_tokens_to_burn + Premium_fee
= 200 + 4 = 204
Outcome: To mint a 100g GEM NFT, an investor must burn 204 GPRO tokens (including the premium fee).
Why Convert GPRO to GEM NFT?
- Asset-Backed Security: Each GEM NFT is backed by physical gold, ensuring stability and trust.
- Transparency: Uses real-time market data for fair and accurate pricing.
- Investment Flexibility: Choose from multiple gold-weight options to match your investment goals.
- Premium Tiers: Lower premiums for larger investments, maximizing your value.
Other Resources
- PriceFeed Data Smart Contract (on-chain):
https://ipmb.gitbook.io/contracts/contracts/editor
Deployed Address: 0x82cA437D8cf216fFACea208c3D8B04F0bfDD922D
Network: Polygon PoS
Converting GPRO into GEM NFTs is a seamless way to transition digital assets into tangible gold ownership.
The New Way to Own Gold. March 2025
About IPMB
At IPMB, we’re transforming the gold ownership experience by addressing the traditional challenges—high costs and lack of transparency—while making gold a profitable, positive carry trade. Our fully integrated ecosystem offers the only end-to-end solution for modern gold ownership, featuring:
- GoldPro Tokens: A hybrid utility and payment token designed for versatility.
- GEM NFTs: Digital promissory notes that grant direct ownership of LBMA-certified gold.
- GoldTrace360: The world’s first gold traceability platform, ensuring full transparency from mine to vault.
With zero management fees and an innovative dual-token model.