The recent development in the digital asset community is the inclusion of NaturesGold Token in the Chainlink BUILD program. The pioneering platform, known for tokenizing in-ground gold deposits to foster their preservation, has taken this step to hasten the spread of its ecosystem and encourage the long-term use of their unique asset class. Leveraging Chainlink’s supreme oracle services and technological aid, NaturesGold aims to boost cryptoeconomic security. This alliance also involves providing network fees and additional benefits to the Chainlink community and service providers, including stakers.
NaturesGold Token, a long-time advocate and participant in Chainlink, has managed to secure priority support from the Chainlink ecosystem through its participation in BUILD. This will expand their reach to decentralized applications (dApps) that require tokenized real-world assets. Moreover, this partnership will foster a better incentive alignment between the Chainlink and NaturesGold Token communities.
With augmented support, safe off-chain services, and the endorsement of Chainlink’s dynamic community, the tokenization platform is hopeful about expediting the awareness of NaturesGold Token and pushing for the acceptance of tokenized gold deposits as an eco-friendly asset class.
NaturesGold Token: The Confluence of Conservation and Profit
Gold mining, while profitable, leaves an indelible mark on the environment, leading to deforestation, water contamination, and soil degradation. It’s also responsible for a significant amount of CO2 emissions equivalent to burning 36 million gallons of gasoline each year. Surprisingly, almost half of the mined gold is virtually traded after being stored in a vault.
NaturesGold Token presents a solution to this problem, merging conservation and profit. By tokenizing in-ground gold deposits, they allow users to reap the monetary value of gold without physically extracting it, thus minimizing environmental harm. Every NaturesGold Token minted corresponds to in-ground gold deposits, verified by JORC or NI 43–101 technical reports.
The Motivation Behind Joining Chainlink BUILD
The primary reason NaturesGold Token joined Chainlink’s BUILD program is to tap into the enhanced security and reliability offered by Chainlink’s oracle infrastructure. As part of BUILD, the platform will enjoy several perks like Chainlink’s Proof of Reserve for verifying gold deposit reports, Chainlink Automation to reliably trigger core functions, and early access to alpha and beta releases of new Chainlink products.
As a reciprocation, NaturesGold Token has agreed to offer 4% of its native token supply over time to Chainlink service providers, including stakers. Such a reciprocal arrangement of economic incentives ensures both communities can mutually benefit and support each other.
Phil Rickard, the Founder and CEO of Nature’s Vault, has expressed his delight over joining Chainlink BUILD, “We’re thrilled to join Chainlink BUILD to gain access to industry-leading Web3 services, technical support, and a robust cryptoeconomic model that empowers us to build a protocol for tokenizing in-ground gold deposits with greater security assurances and transparency. We look forward to continuing our collaboration together and we welcome the passionate Chainlink community into the NaturesGold Token ecosystem.”
