DJYTL 
What a gold token is
DJYTL Gold (dGOLD1) is a token on DJYTL Chain. One token stands for one troy ounce of gold. You hold it in your own Hydra Wallet, and you buy and sell it for dUSDT, a dollar-priced settlement token on the same chain.
It works like any other token in your wallet: you can see the balance, send it, or sell it back on the Markets page whenever the market is open.
How the price is set
DJYTL follows the gold futures price (front month) from market data and multiplies it by the quantity each token stands for. One ounce per token means the reference value of a token is the reference price of an ounce. The Markets page shows that reference price next to the most recent trade.
The reference price is for information. What you actually pay or receive is the price on the order you confirm, and it can differ from the reference. The fee that applies is shown before you confirm; the full schedule is on the Fees page.
What backs it today
Backing is being added, starting with gold and silver. Until it is in place, a gold token tracks the price of gold but is not a claim on a bar of metal held for you. The Proof of Reserves page shows the backing status of each token as it changes, so you can check it yourself instead of taking our word for it.
Physical delivery is not available yet. Until it is, you can sell your tokens back on Markets.
How to buy and sell
- Create an account and verify your email. Some actions may need identity verification.
- Open Hydra Wallet, the wallet built into the site. Your keys stay with you and you approve every transaction.
- Bridge USDT or USDC from another network. It arrives on DJYTL Chain as dUSDT.
- Open Markets, choose DJYTL Gold, enter an amount and confirm.
- To sell, do the same in reverse. The dUSDT you receive stays in your wallet.
Gold and the KDARG coin
KDARG is a separate thing. It is the coin that pays network fees on DJYTL Chain, and its price follows gold. How it is priced and how its backing will work is set out on How KDARG is backed.
What it is not
- Not a bank deposit, and not covered by any deposit guarantee or investor compensation scheme.
- Not a promise of any return. The price can fall as well as rise.
- Not available to everyone. Check the Terms of Service for who can use DJYTL.