Fintech PR

Klaytn Onboards Goldstation and $GPC, Launching the First Gold RWA DeFi Platform Outside of Ethereum

Published

11 months ago

January 3, 2024

Goldstation, the first-ever gold DeFi platform on a public mainnet outside of Ethereum, combines Klaytn’s low fees and latency to offer more efficient gold investments through $GPC, a gold-pegged token 1:1 backed by physical gold.
South Korean residents will be able to convert their physical gold holdings into NFTs via The Mining Club, then using the NFT as collateral to mint $GPC. A global launch for Goldstation is planned.
Klaytn Foundation and CREDER intend to expand beyond gold to tokenize more precious metals for the domestic and global markets.

SINGAPORE, Jan. 2, 2024 /PRNewswire/ — Klaytn Foundation, established to build and decentralize the ecosystem of South Korea’s leading Layer 1 blockchain Klaytn, announced today that Klaytn Governance Council (GC) member CREDER has launched $GPC (Gold-Pegged Coin), a digital asset pegged to the real-time market price of gold; and Goldstation, a decentralized finance (DeFi) platform for $GPC, on Klaytn.

$GPC marks two firsts in the RWA tokenization industry — it is the first tokenized gold to be available on DeFi outside of the Ethereum ecosystem, and also the first gold-pegged token that does not charge a percentage-based commission for transactions. These two attributes allow $GPC to truly deliver on the benefits of real-world asset tokenization, with Klaytn’s low gas fees allowing individuals with small investment capital to add gold to their portfolios without gas fees eating a significant portion of their investment, and the lack of percentage-based fees ensuring that trading gold on-chain remains cost-effective regardless of the amount one wishes to transact.

Goldstation also marks the first-ever gold real-world asset (RWA) token DeFi platform powered by a public mainnet other than Ethereum. It will commence its services, which includes $GPC staking and more, on 24 January 2024. Goldstation will transform gold investments from conventionally relying only on market profits, into DeFi interest revenue generation opportunities. In addition, Goldstation will serve as a hyper-efficient and more profitable gold investment destination, thanks to Klaytn’s low transaction fees, high TPS capabilities, and support for the ERC-3643 tokenization standard.

To mint $GPC, users will need to first convert their gold assets into NFTs via The Mining Club, which is a platform operated by CREDER that proves users’ unique digital ownership of real gold assets using blockchain technology. Once a user’s gold assets are recorded as an NFT, they will be able to issue $GPC at Goldstation by placing their gold NFT as collateral. This entire physical gold to $GPC tokenization process can be easily carried out with a few clicks by connecting their crypto wallets that support Klaytn, such as Kaikas, Metamask, and Kakao KLIP.

Goldstation is currently only available for South Korean residents, with plans for a global launch in the future.

Leading up to the launch, Klaytn Foundation worked closely with CREDER, sharing its business network of leading domestic and foreign partners while cooperating for regulatory compliance, platform optimization, and domestic and global marketing. In addition, as Klaytn recently integrated support for the ERC-3643 tokenization standard, Klaytn Foundation and CREDER plan to comprehensively expand precious metals RWA tokenization beyond gold in the future.

“Gold NFTs and $GPC can be ledgered on-chain for anyone through Oracle Network’s Proof of Reserve (POR),” said James Lim, CEO of CREDER, “we will create a new standard for RWA with Klaytn based on the power of transparency and trust that Web 3.0 finance will deliver.”

“We are very pleased that Klaytn is the mainnet of choice for CREDER’s Goldstation, the first gold RWA token DeFi platform outside of the Ethereum ecosystem,” said Sam Seo, Representative Director of Klaytn Foundation. “Klaytn Foundation has been working together with CREDER’s meticulous preparation for $GPC and Goldstation. Moving forward, we will closely cooperate with them to deliver more diverse metal RWA tokenization projects for the domestic and global markets.”

About CREDER, Blockchain Financial Platform

Founded in 2022, CREDER (CEO James Im) is a digital transformation (DX) company that is conducting Korea’s first 100% real gold-based RWA (Real World Asset) tokenization business. It has developed a decentralized finance (DeFi) platform that can utilize the issuance of gold NFTs and tokens linked to real gold. CREDER is currently the governance council (hereinafter referred to as GC) of Korea’s leading global Layer 1 blockchain platform, Klaytn. More information about CREDER can be found at https://www.creder.biz.

About Klaytn Foundation

Klaytn Foundation was established in 2020 to expand the ecosystem of Klaytn, a global Layer 1 blockchain platform, and has since been actively collaborating with its Governance Council members worldwide. Klaytn Foundation facilitates the adoption and development of new technologies to ensure that Klaytn fulfills its role as an open, trusted, and sustainable blockchain platform for developers and users alike. It also facilitates decision-making to ensure that the ecosystem continues to expand optimally in the rapidly changing blockchain landscape. In line with its long-term Governance Roadmap, Klaytn Foundation plans to fully implement the Decentralization Phase of the Klaytn blockchain in 2023 and beyond.