How to Audit CACHE Gold (CGT) in Less Than 5 Minutes Using Public, On-Chain Data
Auditing CACHE Gold (CGT) requires nothing more than a web browser, an Internet connection and basic math skills. Using only publicly available, on-chain data, it takes less 5 minutes to verify that each and every CGT is backed by one gram of pure physical gold.
Step 1: Check the total CACHE Locked Gold on the CACHE Gold Explorer and verify it against against the CACHE Gold Chainlink Proof of Reserve by clicking on the Chainlink icon.
At the time of writing, total CACHE Locked Gold equals 78,923.20 grams.
Step 2: Check total CGT outstanding on Etherscan. At the time of rwriting this equals 100,771.01 CGT.
Step 3: Check the amount of CGT in the CACHE Gold Unbacked Treasury on Etherscan. At the time of writing this equal 21,847.81.
Step 4: Calculate the CACHE Gold Circulating Supply. Subtract the CACHE Gold Unbacked Treasury balance from the total CACHE Gold Outstanding.
Total CGT Outstanding — Unbacked Treasury = CACHE Gold Circulating Supply
100,771.01 – 21,847.81 = 78,923.20
Step 5: Verify that the CACHE Gold Circulating Supply is less than or equal to total amount of CACHE Locked Gold.
CACHE Gold Circulating Supply ≤ CACHE Locked Gold?
Is 78,923.20 CGT ≤ 78,923.20 grams?
Yes!
Congratulations, in less than 5 minutes you just audited CACHE Gold using only real-time, publicly available, on-chain data and verified that each and every token in circulation is fully backed by one gram of pure physical gold in less than 5 minutes.
CACHE Gold also provides full on-chain transparency over redemptions through the public, dedicated CACHE Gold Redeem Address. You can easily verify that an equivalent number of CGT to each redeemed bar’s pure gold weight is removed from circulation and locked in the CACHE Gold Unbacked Treasury. Tokens cannot be transferred from the unbacked treasury until more gold is locked to back the tokens. New tokens are only minted when the Unbacked Treasury is empty.
To date, CACHE Gold has redeemed more than 107 kilograms of pure physical gold worth more than $6M USD at current market prices.
Learn More
How CACHE Gold Uses Chainlink Proof of Reserve
CACHE Gold’s Supply and Audits
How to Redeem CACHE Gold
CACHE Gold Smart Contract Audit
