什么是象征性的黄金？

象征性的黄金代表在区块链上数字化和铸造的物理黄金。这些令牌得到了发行机构持有的同等金额的支持。

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.

代币化的黄金是一种在区块链网络上运行的数字黄金形式。与通常在银行或其他金融机构中持有的传统黄金不同，令牌化的黄金是由在高安全保险库中举行的实物黄金的支持，并且可以由具有互联网连接的任何人访问。

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.

令牌化黄金的概念建立在区块链技术（例如权力下放，透明度和安全性）的属性上，以创造出可能更透明，更高效的黄金市场。

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.

在过去的五年中，此类别的相关性已经增长，Coingecko的数据表明，在撰写本文时，标记的黄金市场现在价值超过20亿美元，并且在2025年正在作为一种叙述而出现。

What Is Tokenized Gold?

什么是象征性的黄金？

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.

黄金是一个传统的价值商店，市值超过20万亿美元。但是，由于它是物理资产，因此历史上一直面临可及性和交易挑战。尽管存在诸如黄金ETF之类的工具，但它们在受监管的，集中的系统中运行，并且可能不会为散户投资者提供直接所有权或物理赎回权。

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

黄金令牌化涉及利用区块链技术来为黄金创造一个更透明，更有效的全球市场。

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:

令牌黄金使用户可以在其加密钱包中持有实物黄金的代表，在那里，发行机构将真正的黄金保管。这些令牌与特定的黄金挂钩，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：贵金属重量的测量单位。 Troy盎司等于31.1克。 Tether Gold的Xaut和Paxos Gold的Paxg与Troy盎司挂钩。

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

克：一个常见的体重测量单位。 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.

在可以买卖代币分数的区块链上，投资者可以根据其投资能力获取令牌黄金。这有效地拆除了进入最低购买金额的入境障碍，因为用户可以购买一克的分数。

How Does Gold Tokenization Work?

黄金令牌如何工作？

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.

黄金令牌化涉及在保险库中持有的真实黄金，作为支持薄荷和赎回过程的支持，智能合同技术，以及验证黄金控股对应于代币供应的第三方审计师。

Here’s how the process of gold tokenization works:

这是黄金令牌化过程的工作方式：

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

获得黄金的储存：发行机构购买实物黄金，并将其存储在高安全保险库中。

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.

代币铸造：使用智能合约，发行人Minnts数字令牌在所选区块链上等同于持有的黄金。通常使用像ERC-20这样的可及代币标准。

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

1：1衬里和固定：每个令牌对应于特定量的物理黄金（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.

透明度和证明：发行人会进行定期审核以公开证明其保险库中黄金的价值与发行者网站上通常可用的信息相对应。

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.

分销和交易：代币直接出售或在集中式（CEX）和分散（DEX）交易所上出售或列出，以允许24/7全天候以Fiat Money，Stablecoins或其他加密货币交易。

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.

赎回和燃烧：实物黄金：持有人可以以430盎司盎司/dokens的速度赎回物理黄金棒，并带有paxos和tether gold。此过程通常涉及额外的费用和后勤安排（仅限于特定区域）。现金/未分配的黄金：一些发行人（例如Paxos）允许将较小的金额赎回为美元或未分配的黄金权利（在共享储备中获得黄金的权利），但要获得费用和其他先决条件。令牌燃烧：赎回的令牌被烧在链上，以保持1：1的金色衬里。

Benefits of Tokenized Gold

象征性黄金的好处

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

代币化的黄金可以提高黄金的可及性，并使常规投资者进入黄金市场。黄金令牌的好处包括：

Accessibility and Fractionalization

可访问性和分数化

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).

代币化的黄金向全球受众开放黄金投资，并降低了黄金投资的入境门槛，从而使用户可以在交易所购买微小的分数。例如，Binance支持低至0.0000031 PAXG的教派（〜$ 0.01）。

Improved Liquidity and Efficiency

提高流动性和效率

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.

用户可以在全球加密货币市场上24/7全天候交易代币的黄金，与传统市场小时的限制和物理黄金转移的麻烦相比，他们可能会更大的流动性和更快的定居时间。到目前为止，超过20亿美元通过令牌黄金进入了加密货币市场。

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.

区块链分类帐的不变性提供了代币交易的永久性，可公开可验证的记录。当结合常规的第三方审核（允许用户）验证储备金的储备时，令牌化的黄金为持有人提供了高水平的透明度和资产的放心。

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.

可以将令牌的黄金提供给流动性池以赚取费用，也可以用作支持的法律贷款协议中的抵押品。这可以通过传统的黄金持有量无法获得额外的产生产生活动的访问。