Whether you're stressed about the current state of the global economy, you've been thinking about investing in gold, you love stablecoins or you're just interested in learning about a new token, VeraOne is for you!

1. The company

• In 2009, French entrepreneur and gold enthusiast Jean-François Faure created AuCOFFRE.com, a platform allowing companies and individuals alike to buy, sell and trade gold and other precious metals.
• In 2015, as the company kept growing, they created VeraCash (vera = true in latin), a MasterCard debit card allowing people to pay using directly their gold ressources held within AuCOFFRE.
• in 2019, they created VeraOne and the VRO, a stablecoin based on the price of one gram of pure gold.

2. The token

As I was saying, the value of the VRO token is based on the price of gold, but it's actually even better than that. If you buy 1 VRO, VeraOne will physically buy and hold in a safe 1 gram of pure gold. This means that the token is not just digitally following the price of gold, but it's a representation of the amount of real gold you actually own.

I think this is insanely cool.

This also means that, when you buy VRO tokens, you won't get them right away, as VeraOne will have to first wait for the transaction to be approved, and then they'll have to buy the amount of gold you just ordered. They are very transparent with every step of their process on their website and you can follow your transaction in real-time. The whole thing doesn't usually take more than one hour.

To make it even better, the VRO is an ERC20 token, which makes it very accessible and extremely easy to store and transfer within any ERC20 wallet.

One downside of this token, the same one as when you directly purchase actual gold, is that VeraOne will charge you annual safekeeping, storage and oxidation fees, for the grams of gold they're keeping for you. This oxidation fee costs 1% of your holdings per year.

This was just a short introduction to the VeraOne project, if you're interested I've listed below the links to the company's websites and the token's whitepaper. As I have not invested yet, I can't really tell you more about how the platform actually works, but if you're already a VRO holder please comment below what you think of the token and the project!

Again, I do not hold any VRO token and I am not advising anyone to invest in it. This is purely informational.

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