Stable coins have long been considered the holy grail of cryptocurrencies. These coins have their value pegged onto a stable asset such as the USD or gold. Therefore, stable coins are subject to less volatility, unlike other cryptocurrencies. Stable coins are especially essential when the value of cryptocurrencies in the market drops since they are an excellent harbor of value.
One of the most significant disadvantages of stable coins is that they rarely increase in value. The absence of growth is the tradeoff for the stability that they provide. But, is there a way to have both stability and growth?
Apollo Fintech’s GSX is the first stable coin that promises to grow consistently in value. How does it achieve what other stable coins have failed?
Apollo Fintech and GSX
Before we can delve into how GSX will keep increasing in value, we must first understand the relationship between the stable coin and Apollo Fintech.
Apollo Fintech is a company that seeks to create a unique model for a cryptocurrency. The company aims to create a new investment tool that will provide a combination of gold as an asset and rights to rich land. This combination will be the backing behind GSX’s stability and potential growth with time.
Apollo Fintech owns the rights to platinum and gold-rich land in Zimbabwe. The core function of Apollo will be mining the precious metals in the over 3000 acres of land. Apollo will also be responsible for obtaining rights for more land, building new mines, and increasing the effectiveness of the existing ones.
Apollo’s operations will depend entirely on the GSX coin. These operations include sales of the coin and provide a financial balance that maintains GSX’s stability and its future growth. Additionally, GSX holders are passive investors. This means that they have rights to Apollo’s largest asset, the mining lands, through a trust.
How Will GSX Increase in Value?
The key to GSX’s value increase lies within Apollo’s investment in infrastructure, precious metals, and gold-rich land. This unique ecosystem by Apollo ensures that GSX’s value will never go lower than its backing. As Apollo Fintech plans to acquire more mining land to back GSX, we can expect its value to increase with time.
Apollo Fintech will reinvest 25% of all its transaction fees. The transaction fees are accumulated from the variety of products within the Apollo blockchain ecosystem. This income will be used to buy gold and gold-rich land to back the GSX coin. GSC coin holders will be able to track the asset value increase as the company will report and publicly display all the increases in gold and land value each week.
However, the most significant driving force behind GSX’s increase in value is not Apollo’s financial and software products. Instead, the rights to the 3,000+ acres of platinum and gold rich land in Zimbabwe will also back GSX. Additionally, 50% of the income after expenses and growth will back the coin. Therefore, as Apollo Fintech increasingly mines gold and other precious minerals, so will GSX’s value grow.
Claim rights to the gold-rich land will be held in a trust. GSX holders will have legally binding ownership to the land’s claim rights. They will also hold the mining company’s rights, the mine, the refinery, and even all the equipment used for mining and refining. As Apollo Fintech expands its operations and gains more assets, so does the value of GSX increase.
Finally, gold and land are appreciating assets and will increase in value over time. GSX has its value pegged on these two assets, which means that its value will increase proportionally to land and gold.
Currently, GSX’s base price is 0.046 USD based on the assets held. As Apollo Fintech increases its assets, this value will also increase. The total asset backing is $1.4 billion and is expected to increase by 500% in 2021.
Apollo Fintech will invite independent third-party auditors to audit the company’s gold holding regularly. Apollo will then avail the audit reports to all market participants. This way, both potential investors and GSX holders will have access to the most current information on the valuation.
Apollo has already started the distribution event for GSX. The initial price, which is set at $0.046, was established by the company based on a report by an accredited geologist. The geologist took into account the land rights, the mining operation, the value of the mining company, the refinery, and any other assets included in the trust. The geological report showed that the gold ore and land rights valuation is $6.5 billion.
More on Apollo Fintech
Apollo Fintech is the company behind Apollo Blockchain, on which GSX is developed. The leading blockchain solutions provider has an array of financial and software products for governments. The fintech company has been the backbone of several groundbreaking products in the blockchain scene, with more in the works.
GSX chose Apollo’s blockchain-based on its rich technical infrastructure. Additionally, the Apollo blockchain comes equipped with a variety of features and possibilities that are all useful in GSX Coin’s maintenance. To support the Apollo infrastructure, GSX transactions commissions will be charged in APL, Apollo’s native token.
The introduction of stable coins to the crypto world was a welcome invention for many investors and enthusiasts. They finally had a way to leverage the benefits of cryptocurrencies without the risk of high volatility. But, the downside was that these stable coins could not change much in value.
Apollo Fintech is changing this by introducing the world to GSX. The company has created a unique ecosystem that ensures the coin’s value consistently increases with time. GSX is the world’s first stable growth coin. It provides its owners with the benefits of absolute value while also facilitating growth over time. There’s no doubt that the coin has several lucrative features to offer investors and will likely create waves in the entire crypto world, thanks to the benefits it brings to the table.