Project 79 is a relatively new project in the crypto industry that has already achieved significant success. It is a gold arbitrage play that acquires gold from mines in Africa and import it to refiners in Dubai. It has paid out over 6.4% returns each of the last four months. It aims to build upon this success by improving its offering, including securing an equity position and direct ownership in a gold mining operation, and implementing a multi chain gold-pegged token. This token will represent direct gold ownership and can be instantly redeemed for stablecoins or physical gold.
The team behind Project 79 is committed to transparency and has plans to release a dedicated whitepaper for the gold-pegged token in early 2023. This token will provide more people with access to institutional-level and real-world opportunities through the use of crypto.
Project 79’s goal is to give back to the community and provide more people with access to these opportunities. The project has secured rights to an equity position and direct ownership in a gold mining operation, securing ownership to the land and its mineral rights with substantial proven gold reserves. In addition, Project 79 is working on a tradeable token that is backed by a tangible, cash flowing asset.
Overall, Project 79 is striving to make gold more accessible through the use of crypto and is committed to transparency in its efforts. The potential for this project to be a game-changer in the industry makes it an exciting development to keep an eye on.
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The information in this post is for entertainment and educational purposes only. None of the information provided should be considered individual investing, accounting, tax, or legal advice. Please consult an appropriate professional before acting on any particular strategy.
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