Illumishare, a blockchain-based digital asset management ecosystem, announces the official presale of its Abu-Dhabi-licensed $SRG token, which will begin after its unveiling event in Dubai on November 22. The token is backed by 3 uncorrelated assets including gold, stored in a safe room at a bank in Abu-Dhabi and broadcast live 24/7.
The unveiling event will see the participation of his highness, ministers of the Emirate government, among respected business partners such as former JP Morgan VP Jason Tay, former CEO of Dubai Gold & Commodities Exchange Les Male, Polygon SVP Dalip Tyagi, former BlackRock executive David Munoz.
Consumer prices rose in 2021 at the fastest pace in 39 years, resulting in warnings such as major hedge fund Elliott Management claims that the global economy is at risk of crippling hyperinflation and conditions “that would be at or beyond the boundaries of the entire post-WWII period.” As consumers seek reliable alternatives to fiat currency, gold and other uncorrelated assets will serve as effective ways to retain the value of their money.
Designed to offer consumers a reliable inflation hedge and unprecedented financial security, Illumishare’s $SRG token is not a stablecoin as it is backed by three uncorrelated assets: gold, a cash recovery fund, and technology.
- Gold – Illumishare keeps a physical gold reserve in Abu-Dhabi equivalent to a percentage of the all-time high Market Cap.
- Cash – Meanwhile, a cash reserve is built from the margins between the gold market price and the gold price Illumishare pays, which will be used automatically for aggressive marketing.
- Tech – An auto burn mechanism, assets-backed NFT marketplace, staking mechanism, and payment gateway act as the third insurance mechanism.
In Q2 of 2023, Illumishare will launch its asset-backed NFT marketplace, which will only work with certified companies dedicated to tokenizing real estate assets, gold and diamond certifications, gold and diamond mines, and agricultural plants. The marketplace will incorporate the latest anti-fraud system, that will scan every NFT uploaded by creators and remove every scam project to keep our users safe, to ensure every project offered on the platform is 100% genuine.
“Only 4.23% of the world population has adopted crypto so far, and that’s because of failing projects and a lack of transparency and honesty that plagues the ecosystem,” says Ben Sharon, Co-Founder and CEO of Illumishare. “Through a combination of human capital, technology, cash and gold, we have created a new transparent economy driven by innovation that doesn’t discount the historic security of uncorrelated assets.”