- HelloGold mobile app to Reach 85,000 downloads
- Discount GOLDX-Offering for HGT Holders, with Token Burn
HelloGold(HGT), an Ethereum-based and gold-backed platform project, announced its mobile app to reach 85K downloads, according to its news release.
HelloGold’s CEO Robin Lee was cited as saying that the project has gained 85K DL and become an established provider of gold-based financial products to the underserved and unbanked. HelloGold would continue to add greater value to the supporters, he noted.
HelloGold will allow HGT holders to purchase HelloGold’s Shariah-compliant ERC20 cryptocurrency GOLDX at a discounted price.
GOLDX, backed by 99.99% investment-grade gold, uses smart contracts to digitise gold and make gold exchangeable, outside the HelloGold platform.
HGT holders will receive a discount on GOLDX worth more than USD 15 for every 100 HGT tokens redeemed, via a new online purchase portal, which is under the development. HelloGold will burn up to 50% of the redeemed HGT tokens every month with no total burn limit.
HelloGold is preparing its core platform for international expansion as well as the launch of new financial products, Lee said, adding that GOLDX can become the stable digital token amongst the more popular and more volatile cryptocurrencies,given the daily trading volume of USD 250 bn in gold, compared with USD 2bn in cryptocurrencies.
Meanwhile, the Malaysia-based gold project previously announced a milestone burn of its HGT token, based on the customer numbers and Assets Under Management (AUM).
HelloGold plans to launch the second round of HGT token sale in the second half of 2018.
HGT, which is listed on Exchanges such as HitBTC, has a market cap of about USD 7m.