Commercial Terms
Structured terms and definitions governing the Commercial Gold Offtake Program.
Commercial Terms Snapshot
The commercial framework of the GOLDN Forward program establishes a two-stage payment structure that enables subscribers to secure forward delivery rights to physical gold at a fixed acquisition price. This section details the pricing mechanics, payment timing, and the tokenized representation of entitlements throughout the program lifecycle.
Fixed acquisition price of $1,405/oz (vs. current market /oz — % margin)
Stage 1 deposit: $250/oz (~18%) at subscription
Stage 2 deferred payment: $1,155/oz (~82%) at settlement
Minimum commitment: $50,000 (200 troy ounces)
Key Definitions
Commercial Terms Summary
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Illustrative Examples
Calculation
Payment Structure
Stage 1: Down Payment (GOLDN_OT)
$0.0125 per token (~18%)
Due upon subscription execution
Stage 2: Deferred Payment (GOLDN_SET)
$0.05775 per token (~82%)
Due within 60 days of final delivery date
Forward Price
$1,405 per troy ounce
Stage 1 (GOLDN_OT)
$0.0125 per token ($250 per oz)
Stage 2 (GOLDN_SET)
$0.05775 per token ($1,155 per oz)
Minimum Subscription
200 troy ounces ($50,000 deposit)
Minimum Down Payment
Token Conversion
20,000 Tokens = 1 troy ounce
Delivery Form
LBMA Good Delivery Standard
Physical delivery or allocated vault storage
All-In Token Price
$0.07025 per token (20,000 tokens = 1 troy ounce)
How Your Reservation Receipt Works
Your Reservation Receipt (GOLDN_OT Token)
When you make your deposit, you receive a digital reservation receipt (called a GOLDN_OT token). This confirms you've reserved your gold and records exactly how much you're entitled to.
Your Delivery Receipt (GOLDN_SET Token)
Once you pay the remaining balance, your reservation receipt is exchanged for a delivery receipt (GOLDN_SET token). This means your gold is fully paid for and ready to be delivered to you.
How Much Gold Per Token
20,000 tokens = 1 troy ounce of gold. You can start with as few as 4,000,000 tokens (200 ounces).
Smaller Amounts
If you own less than 1 full ounce (fewer than 20,000 tokens), your gold can be stored in the vault on your behalf, or combined with other small holdings for delivery.
Equal Treatment
Every token of the same type is treated equally — no one gets priority over anyone else for delivery, storage, or any other part of the process.