We established close relationships with technology companies, prime brokers, digital currency and gold and precious metals investors around the world. All metals issued on our platform are bridged 100% in a transparent and automatic way to prime brokers and our liquidity providers, thus DinarCoin value will be stable and pegged to the value of real-time gold price.
Our record keeping technology
All issued DinarCoins, issued smart contracts and transactions between users using blockchain will be transparent. Gold contracts(XAU/USD) orders will be closed at our prime broker provider by burning the same amount of DinarCoin in our platform. All documents are certified by embbedding SHA256 digest in the bitcoin blockchain, which makes it permanently certified. Using this method it's impossible to go back in time and modify any records, thus creating the basis for permanent audit.
Issuing Procedure of Dinar Coin and Gold Smart Contract
DinarCoins or Gold Smart Contracts bought in the DinarDirham platform will bridge buy orders in prime broker liquidity providers with 1:1 leverage and issue DinarCoin or Gold Smart Contracts based on volume purchased. Such operations requires multi-signatures of at least 3 different co-signers: DinarDirham, investor, prime broker. All parties must independently confirm issuance of DinarCoin into the circulation system, hence making forced issuance practically impossible.
Once DinarCoin or Gold Smart Contracts are issued by the above procedure, DinarCoin and Gold Smart Contracts are available for transfer or exchange into any of the multiple assets. To make sure that DinarCoin and Gold Smart Contracts values are pegged and following world spot gold price, DinarDirham will buy back all DinarCoin or Gold Smart Contracts, requested by the holders. All DinarCoin or Gold Smart Contracts orders positions XAU/USD and withdrawals from our vaults will be transparently viewed by our users.