Risk disclosure

DUCAT tracks the price of gold. Gold has had decade-long stretches where it lost value in real terms. If the metal falls, your holding falls with it. That risk is entirely yours, and nothing about the token structure reduces it.

The mint controller enforces that token supply can never exceed the reserve figure it holds. That is a real, on-chain guarantee and it runs inside every issuance.

What it cannot do is confirm that the gold exists, that it is allocated to you, that it is insured, or that title is clean. Those depend on the custodian, the assay and independent attestation — all outside the chain. A correct contract sitting on top of an inaccurate reserve figure is still an inaccurate claim.

The system is running in Genesis mode: the reserve is a fixed, attested figure rather than a live oracle reading. Live proof-of-reserve feeds are deployed but have not been activated, and until they are, issuance is capped at the Genesis amount.

Activation is one-way. Once live feeds are switched on, the reserve becomes whatever those feeds report, permanently.

The contracts have been tested extensively and are source-verified on BscScan, so anyone can read exactly what is deployed. They have not been through an independent security audit. Smart-contract risk is real and it is not hypothetical: bugs in deployed code have cost users money across this industry.

Pricing depends on an external gold price feed. If that feed stops updating or reports an implausible value, the desk stops trading rather than transacting on a bad price. That is deliberate, but it means trading can be unavailable at exactly the moment you want it.

Selling back to the desk depends on the settlement wallet holding sufficient USDT. If it does not, sales are unavailable until it is funded. DUCAT is a transferable token, but there is no guarantee of a liquid secondary market elsewhere.

Spreads, trade limits, treasury wallets and price feeds are all controlled by the governance account. Changes take effect immediately; there is no timelock delay in this deployment. You are trusting whoever holds that authority to act properly.

Nothing on this site is investment, tax or legal advice. Availability depends on your jurisdiction, and some regions are restricted. If you are unsure whether this is suitable for you, take independent advice before buying.