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Published byCharles Russell Modified over 5 years ago
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Q: What is an ERC-721 Token? A: ERC-721 is a free, open standard that describes how to build non-fungible or unique tokens on the Ethereum blockchain. While most tokens are fungible (every token is the same as every other token), ERC-721 tokens are all unique.
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Q: How are the Kubo ERC-721s unique?
A: Each Kubo ERC-721 is unique by serial number that allow for tracking and connection to the precious metal backing each token.
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Q: How are each Kubo ERC-721 backed?
A: Kubo, Inc., has entered into a contract with a precious metals company, which will place on reserve the backing metal of each token once each token is sold.
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Q: How are these ERC-721 tokens backed?
A: Each KuboGold is backed by 1/20th (0.05) of an ounce of Gold held in reserve. Each KuboSilver is backed by 1/10th (0.10) of an ounce of Silver held in reserve. *Value is based off of spot price and changes daily.
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Q: How do I convert these tokens to Gold or Silver?
A: Once you collect enough tokens to convert to a physical gold or silver piece you will go to the redemption section of KuboGold.com and follow the process.
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Q: Can we see the contract?
A: Due to Non- Disclosure we have been authorized to show the redacted version.
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Q: If these ERC-721s are purchased with Kubo, will those Kubo be burned?
A: No. As Kubo, Inc., has to make a payment to the precious metals company every time a token is sold, then Kubo, Inc., must have a way to pay for the backing metals.
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Q: Can I use my KuboGold or KuboSilver towards a MasterNode?
A: Yes. We will provide a link on KuboGold.com to convert you KuboGold or KuboSilver to the 20M Kubo needed for a locked MasterNode.
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Q: When can I buy KuboGold or KuboSilver?
A: Starting August 1, 2019.
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