General FAQ
Here you will find answers to most common questions.
The GoldPro Token (GPRO) is a digital token released on the Polygon Mainnet blockchain and has the benefit of being backed by gold reserves.
Each GPRO is backed by 1 gram of gold doré. It is not pegged to the price of gold and is not a stablecoin. The price of GPRO can float due to its many utilities.
The primary utility for GPRO is the ability to be staked in order to unlock a guaranteed discount of up to 11% on GEM NFTs (Tokenized gold).
GPRO can also be used to purchase goods and services at a discount from many retailers.
GEM NFTs (Globally Exchanged Metal) are 1:1 gold-backed and allocated NFTs offering physical redemption options. Holders enjoy no storage or insurance fees with loyalty rewards and flexible redemption terms after a minimum holding period.
There are no fees for GEM NFT holders. IPMB covers all insurance, storage, and management costs, ensuring zero charges.
Yes, IPMB’s gold reserves are reported by Grant Thornton through agreed-upon procedures. All operations comply with international quality and ESG standards, including LBMA guidelines.
IPMB Group is based in Cyprus but has other operating entities worldwide in countries such as the Czech Republic, Switzerland, Ghana, and more.
GPRO can be converted into GEM NFTs. The conversion mechanism is based on the price of GPRO relative to the price of gold.
The exchange rate from GPRO to GEM NFTs is variable and changes from a fixed rate to a floating rate depending on the price of GPRO in relation to the price of gold.
For example, if GPRO is below the price of 1 gram of gold, IPMB guarantees 1:1 conversion from GPRO to GEM, maintaining GPRO’s intrinsic value of 1 gram of gold and protecting token holders.
If the price of GPRO is above the price of gold, then the conversion rate is floating to maximise the conversion incentive and not to draw downward pressure on GPRO. This means that if GPRO is worth twice as much as 1 gram of gold, and you would like to convert to 100 grams of GEM, you would only need to tender 50 GPRO tokens – this example assumes no discounts unlocked through staking, with an 11% discount on GEM, in this case you would tender just 44.5 IPMBs for a GEM100.
The gold is securely stored in LBMA-standard vaults at audited and approved locations globally.
Yes, GEM NFTs represent allocated gold, ensuring each token is tied to a specific amount of physical gold.
Each GPRO is backed by 1 gram of gold. However, it is not a stablecoin, which means it is not pegged by gold. The price is floating and can diverge from the price of gold.
No, GEM holders pay no storage or insurance fees. IPMB absorbs these costs as part of its industrial operations.
Yes, GPRO is capped at 200 million tokens, and no more tokens can ever be minted.
Yes. All of our operations adhere to the highest standards and beyond. IPMB’s physical locations are assisted by company programs to provide essential healthcare and other support services to our team and local communities.
GPRO is backed by gold reserves, providing stability through staking. Holders can always convert GPRO to GEM NFTs at a 1:1 rate when GPRO’s price falls below the value of gold.
GEM NFT value is based on IPMB’s spot price for gold, aligned with global market standards.