GLDT stands for “Gold Token”, being a fungible token backed by GLD NFTs. GLD NFTs are NFTs that represent irrefutable ownership of physical gold bars. 1 GLDT represents exactly 0.01g of gold, and GLD NFTs can be swapped at a ratio of 1g for 100 GLDTs.

GLDT are minted when someone swaps a GLD NFT for GLDT. The swapping ratio is 1g of GLD NFT for 100 GLDT.

Everybody who owns GLD NFT. See gold.bity.com for details of purchasing GLD NFTs.

You must own at least one GLD NFT and connect to the swap app. Then you will be able to select the number of GLD NFT which you want to swap to GLDT. After validating the transaction, the GLD NFT will be locked in the swap canister and GLDT are effectively minted on the spot to your account. There will always be a ratio of 100GLDT to 1g GLD NFT owned by the swap canister.

1g of gold = 100 GLDT. Or 1 GLDT = 0.01g of gold. E.g.: You have 5g of GLD NFTs. You can swap these at a ratio of 1g to 100GLDT. So when swapping 5g of GLD NFT, you will receive 500 GLDT.

You can follow along your transaction in your Account section. Once the transaction is completed, you will find your newly minted GLDT in your wallet balance.

There are no fees for swapping GLD NFT to GLDT. For reverse swapping from GLDT to GLD NFT, a fee of 1 GLDT is charged for every GLD NFT that is unlocked from the swap canister. For example, if 500 GLDT are swapped to 5x 1g GLD NFT, 5x 1 GLDT fee are applied. If 1000 GLDT are swapped to 1x 10g GLD NFT, 1x 1 GLDT will be applied.

Go to gold.bity.com to learn more about GLD NFTs, which back GLDTs.