Swiss Crypto Startup Eidoo Announces Token Tied to the Price of Gold


Eidoo has become the latest cryptocurrency startup to seek to create a more stable token by tying it to the price of gold.

The Switzerland‐based startup says the ERC‐20‐compatible token, dubbed the ekon, will sit alongside its multicurrency wallet and decentralized exchange. But perhaps more notably, each token will be redeemable for one gram of 99.9 percent fine gold, which the startup says will be stored in its vaults and audited every 90 days.

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