什麼是像徵性的黃金？

象徵性的黃金代表在區塊鏈上數字化和鑄造的物理黃金。這些令牌得到了發行機構持有的同等金額的支持。

Tokenized gold is a form of digital gold that runs on a blockchain network. Unlike traditional gold, which is typically held in a bank or other financial institution, tokenized gold is backed by physical gold that is held in a high-security vault and can be accessed by anyone with an internet connection.

代幣化的黃金是一種在區塊鍊網絡上運行的數字黃金形式。與通常在銀行或其他金融機構中持有的傳統黃金不同，令牌化的黃金是由在高安全保險庫中舉行的實物黃金的支持，並且可以由具有互聯網連接的任何人訪問。

The concept of tokenized gold builds upon the properties of blockchain technology, such as decentralization, transparency, and security, to create a potentially more transparent and efficient global marketplace for gold.

令牌化黃金的概念建立在區塊鏈技術（例如權力下放，透明度和安全性）的屬性上，以創造出可能更透明，更高效的黃金市場。

Over the past five years, this category has grown in relevance, with data from CoinGecko showing that the tokenized gold market is now worth over $2 billion at the time of writing, and it is emerging as a narrative to watch in 2025.

在過去的五年中，此類別的相關性已經增長，Coingecko的數據表明，在撰寫本文時，標記的黃金市場現在價值超過20億美元，並且在2025年正在作為一種敘述而出現。

What Is Tokenized Gold?

什麼是像徵性的黃金？

Gold is a traditional store of value with a market cap of over $20 trillion. However, it has historically faced accessibility and trading challenges, as it’s a physical asset. While instruments like gold ETFs exist, they operate within regulated, centralized systems and may not offer direct ownership or physical redemption rights to retail investors.

黃金是一個傳統的價值商店，市值超過20萬億美元。但是，由於它是物理資產，因此歷史上一直面臨可及性和交易挑戰。儘管存在諸如黃金ETF之類的工具，但它們在受監管的，集中的系統中運行，並且可能不會為散戶投資者提供直接所有權或物理贖回權。

Gold tokenization involves leveraging blockchain technology to create a potentially more transparent and efficient global marketplace for gold.

黃金令牌化涉及利用區塊鏈技術來為黃金創造一個更透明，更有效的全球市場。

Tokenized gold allows users to hold representations of physical gold in their crypto wallets, where the real gold is held in custody by the issuing institution. These tokens are pegged to specific weights of gold such as:

令牌黃金使用戶可以在其加密錢包中持有實物黃金的代表，在那裡，發行機構將真正的黃金保管。這些令牌與特定的黃金掛鉤，例如：

Troy ounce: A unit of measurement for precious metal weight. A troy ounce is equal to 31.1 grams. Tether Gold’s XAUT and Paxos Gold’s PAXG are pegged to the troy ounce.

特洛伊盎司：貴金屬重量的測量單位。 Troy盎司等於31.1克。 Tether Gold的Xaut和Paxos Gold的Paxg與Troy盎司掛鉤。

Gram: A common unit of weight measurement. Kinesis Gold’s KAU and VeraOne’s VRO are pegged to the gram.

克：一個常見的體重測量單位。 Kinesis Gold的Kau和Veraone的Vro被固定在克。

On the blockchain, where fractions of tokens can be bought and sold, investors can acquire tokenized gold according to their investment capacity. This effectively dismantles barriers to entry like minimum purchase amounts, as users can buy fractions of a gram.

在可以買賣代幣分數的區塊鏈上，投資者可以根據其投資能力獲取令牌黃金。這有效地拆除了進入最低購買金額的入境障礙，因為用戶可以購買一克的分數。

How Does Gold Tokenization Work?

黃金令牌如何工作？

Gold tokenization involves real gold held in a vault as backing, smart contract technology that governs the mint and redemption process, and third-party auditors that verify gold holdings correspond to the token supply.

黃金令牌化涉及在保險庫中持有的真實黃金，作為支持薄荷和贖回過程的支持，智能合同技術，以及驗證黃金控股對應於代幣供應的第三方審計師。

Here’s how the process of gold tokenization works:

這是黃金令牌化過程的工作方式：

Gold acquisition and storage: An issuing institution purchases physical gold and stores it in high-security vaults.

獲得黃金的儲存：發行機構購買實物黃金，並將其存儲在高安全保險庫中。

Token minting: Using smart contracts, the issuer minnts digital tokens on a chosen blockchain equivalent to the amount of gold held. Usually fungible token standards like ERC-20 are used.

代幣鑄造：使用智能合約，發行人Minnts數字令牌在所選區塊鏈上等同於持有的黃金。通常使用像ERC-20這樣的可及代幣標準。

1:1 backing and pegging: Each token corresponds to a specific amount of physical gold (1 XAUT = 1 troy ounce).

1：1襯里和固定：每個令牌對應於特定量的物理黃金（1 xaut = 1 troy盎司）。

Transparency and attestation: Issuers release regular audits to publicly attest that the value of gold in their vaults corresponds to the circulating token supply, with information usually available on the issuer’s website.

透明度和證明：發行人會進行定期審核以公開證明其保險庫中黃金的價值與發行者網站上通常可用的信息相對應。

Distribution and trading: Tokens are sold directly or listed on centralized (CEX) and decentralized (DEX) exchanges, enabling 24/7 trading against fiat money, stablecoins, or other cryptocurrencies.

分銷和交易：代幣直接出售或在集中式（CEX）和分散（DEX）交易所上出售或列出，以允許24/7全天候以Fiat Money，Stablecoins或其他加密貨幣交易。

Redemption and burning: Physical gold: Holders can redeem tokens for physical gold bars at a rate of 430 troy ounces/tokens with Paxos and Tether Gold. This process usually involves additional fees and logistical arrangements (limited to specific regions). Cash/Unallocated Gold: Some issuers like Paxos allow redemption of smaller amounts into USD or unallocated gold entitlements (an entitlement to gold in a shared reserve), subject to fees and other prerequisites. Token burning: Redeemed tokens are burned on-chain to maintain the 1:1 gold backing.

贖回和燃燒：實物黃金：持有人可以以430盎司盎司/dokens的速度贖回物理黃金棒，並帶有paxos和tether gold。此過程通常涉及額外的費用和後勤安排（僅限於特定區域）。現金/未分配的黃金：一些發行人（例如Paxos）允許將較小的金額贖回為美元或未分配的黃金權利（在共享儲備中獲得黃金的權利），但要獲得費用和其他先決條件。令牌燃燒：贖回的令牌被燒在鏈上，以保持1：1的金色襯裡。

Benefits of Tokenized Gold

象徵性黃金的好處

Tokenized gold increases the accessibility of gold and allows the regular investor access to the gold market. Benefits of gold tokenization include:

代幣化的黃金可以提高黃金的可及性，並使常規投資者進入黃金市場。黃金令牌的好處包括：

Accessibility and Fractionalization

可訪問性和分數化

Tokenized gold opens gold investment to a global audience and lowers the entry threshold for gold investment, allowing users to purchase minute fractions on exchanges. As an example, Binance supports denominations as low as 0.0000031 PAXG (~$0.01).

代幣化的黃金向全球受眾開放黃金投資，並降低了黃金投資的入境門檻，從而使用戶可以在交易所購買微小的分數。例如，Binance支持低至0.0000031 PAXG的教派（〜$ 0.01）。

Improved Liquidity and Efficiency

提高流動性和效率

Users can trade tokenized gold 24/7 on global crypto markets, offering them potentially greater liquidity and faster settlement times compared to the constraints of traditional market hours and the hassle of physical gold transfers. So far, over $2 billion has flowed into the crypto market through tokenized gold.

用戶可以在全球加密貨幣市場上24/7全天候交易代幣的黃金，與傳統市場小時的限制和物理黃金轉移的麻煩相比，他們可能會更大的流動性和更快的定居時間。到目前為止，超過20億美元通過令牌黃金進入了加密貨幣市場。

Transparency

透明度

The immutability of blockchain ledgers provides a permanent, publicly verifiable record of token transactions. When combined with regular third-party audits, which allows users to verify reserves backing their tokens, tokenized gold offers holders a high level of transparency and reassurance around their assets.

區塊鏈分類帳的不變性提供了代幣交易的永久性，可公開可驗證的記錄。當結合常規的第三方審核（允許用戶）驗證儲備金的儲備時，令牌化的黃金為持有人提供了高水平的透明度和資產的放心。

DeFi Integration

defi集成

Tokenized gold can be supplied to liquidity pools to earn fees, or can be used as collateral in DeFi lending protocols where supported. This unlocks access to additional yield generating activities unavailable with traditional gold holdings.

可以將令牌的黃金提供給流動性池以賺取費用，也可以用作支持的法律貸款協議中的抵押品。這可以通過傳統的黃金持有量無法獲得額外的產生產生活動的訪問。