Polkagold aims to become the premier reserve digital commodity for Polkadot.
Polkadot already has Native USDT & USDC as Stablecoins in AssetHub, providing utility for stable currency transfers.
It has a chain utility coin in the form of DOT that fulfils the role of transaction fees, governance, staking and securing the network, as well as funding the treasury.
The only asset missing is a true Digital Gold that underpins economy as a reserve asset that the treasury can acquire.
Polkagold will only ever have 10,000,000 coins produced at genesis.
PGOLD launched on exchange at early bootstrap Alpha phase with 100% of the supply immediately put into circulation as part of the liquidity pool. As a result, PGOLD can never be inflationary.
This Novel Launch concept seeks to mimic Satoshi Nakomoto's launch of Bitcoin, where even the early adopters had to mine their first Bitcoin.
Satoshi referred to the mining acquisition as Proof of Work, PoW - we call our concept, Proof of Purchase, PoP.
With PGOLD, even the early adopters & creators will have to go to exchange and buy their PGOLD in the same process as the public.
Also, inspired by Dr. Gavin Wood's Kusamarian interview from 06/11/2023, Dr.Gavin Wood mentioned he would love to see the treasury acquire tokens from other chains and other hard assets to diversify, so it's not all just Polkadot in the Treasury.
Thus the idea was born to synergise both communities of Algorand & Polkadot in a major win-win.