Diversify Your Portfolio with Ascension Bullion
Ascension is a risk-off decentralized approach to an index of quality assets, and as such we would be remiss to ignore the tried and true commodities that have been the backbone of human monetary systems for the large majority of history. Gold and Silver Bullion are perhaps the most reliable store of value available and while digital assets certainly have their place, no index should be considered risk-off if it does not account for precious metals.
Ascension Index provides two methods of accumulating Gold and Silver, in digital and physical form. First is our fully backed and redeemable Gold and Silver blockchain tokens known as AAU and AAG. As part of Ascension Phase III these tokens will be earned by ASC token holders, and can also be traded directly on the XRPL DEX. Secondly, we offer direct physical bullion collectibles in our Ascension Mint Shop, with early access to our Ascension NFT holders.
Explore the whitepapers below for an in-depth understanding of our pioneering tokenized bullion offerings.
Bullion: Frequently Asked Questions
Yes, ASC token holders will receive the AAG and AAU blockchain tokens as part of the RAIN rewards based on the voting results and their ASC token holdings.
Ascension will only mint full AAU / AAG tokens after the physical bullion has been received, processed, and audited in a ratio of 1 token to 1 ounce of the respective asset.
As part of the physical bullion redemption process, users will burn their AAU / AAG tokens prior to being shipped their physical metals, and frequent audits will be performed to ensure a 1:1 backing.
Yes, we will have a redemption workflow where a person holding more than 1 full AAG/AAU will be able to burn the blockchain token (in full token increments). Once the burn is complete the user will be routed to our Ascension Mint Shop and be able to redeem that many ounces of the burnt asset.
**The customer will be responsible for shipping, handling, insurance (and customs if applicable)
These are like any other issued token on the XRPL and tradeable on the decentralized exchange. Anyone can accumulate these digital assets, even if they are not an ASC token holder. The XRP valuation of these tokens will be determined by the open market, and always redeemable 1:1 for physical ounce of the respective asset.
In-house for now, and with maturation will we be building our own facilities. Bullion warehousing facilities charge a percentage of holdings, so although we could manage that while small, the issue would be once that percentage charge is greater than the ASC vote. At some point (probably not too far down the road) They would charge from what we are warehousing with them and there would be a loss causing an imbalance in the peg. For this reason we will be fully in-housing the process, storage, shipping, etc. The 10% makers fee is meant to accommodate this growth for the mint.
We will procure whatever is closest to spot and readily available to start. As we mature, we’ll only offer Ascension Mint products.
As we grow we will want to open regional mints to lower costs for our customers.
