- Golteum is officially joining the Chainlink BUILD program to accelerate the development of fractionalized NFTs backed by precious metals.
- Golteum will utilize Chainlink’s Proof of Reserve and Price Feeds to ensure transparency and provide accurate market data to its users.
Golteum, a pioneering platform in the realm of blockchain, has officially joined the Chainlink BUILD program, an announcement that has created ripples in the cryptocurrency world. The integration into Chainlink’s esteemed program positions Golteum to fast-track the development of its platform and stimulate widespread adoption of non-fungible tokens (NFTs) that are backed by precious metals.
In return, Golteum will make 4% of its total native token supply available to Chainlink service providers, including stakers.… pic.twitter.com/jLOpcgfylW
— Chainlink (@chainlink) June 15, 2023
This partnership grants Golteum enhanced access to Chainlink’s industry-leading oracle services, thereby substantially bolstering the cryptoeconomic security of its platform. With this symbiotic relationship, Golteum has also committed to delivering network fees and other benefits to the Chainlink community and its service providers, including those involved in staking operations.
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The decision to join Chainlink’s BUILD program is a strategic one for Golteum, capitalizing on the immense benefits of security and reliability offered by Chainlink’s oracle infrastructure. Access to new product alpha and beta releases, the incorporation of Chainlink’s Proof of Reserve for off-chain reserve monitoring, and access to precise, decentralized market data through Price Feeds, are some of the key advantages of this partnership.
Golteum has expressed its intent to make 4% of its native token supply available to Chainlink service providers over time, reflecting a strong commitment towards mutually beneficial economic incentives.
The collaboration also represents a crucial step in realizing Golteum’s vision of bridging the gap between the traditional precious metals market and the evolving world of cryptocurrency. A key part of this strategy is the incorporation of Chainlink Price Feeds, which offer reliable, real-time pricing data for cryptocurrencies and precious metals.
Chainlink’s Proof of Reserve, an innovative tool for autonomous monitoring, will play a significant role in ensuring that Golteum’s asset-backed tokens, representing precious metals, are continuously verified and audited. This paves the way for enhanced transparency and reliability, providing users with the assurance that their digital assets accurately mirror the underlying precious metals.
This strategic collaboration promises to open new frontiers in the digital asset management space, offering users an unprecedented opportunity to manage and trade digital assets, especially those backed by real-world assets. The partnership signifies a transformative phase for Golteum, unlocking vast potential and marking a new chapter in the story of digital asset management.
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