ETALONOur framework
Trust that comes with documents
Every asset Etalon Vault issues against answers three questions. Each answer is signed and dated by whoever checked it.
1 · Why we exist
Gold mined the right way should be worth more
Gold mined legally, by workers who are treated fairly, should be worth more than gold nobody can trace. That only happens when buyers can check the difference for themselves.
Our mission is to make the value of real assets easy to check, with records of origin, rights that hold up in court and fair terms. We're starting with gold. We want an economy where honesty pays off and people have more control over their own lives.
Integrity
We do what's right.
Verifiability
Every claim we make has to be backed up.
Excellence
We do careful work, every time.
Autonomy
We help people make their own choices.
2 · The three questions
Three questions every asset has to answer
Where did the gold come from?
Was it mined legally, were workers treated fairly, and can the records be traced?
- Documents
- Ownership records, permits, production history, and how the mine looks after workers, land and water
- Supplied by
- The mine owner
- Checked by
- Independent labs, auditors and technical experts
- Kept in
- File part A
What exactly does the buyer own?
What the asset is, what the contract gives the buyer and what is still owed.
- Documents
- The purchase contract; after delivery, the refinery assay, bar list and vault receipt
- Supplied by
- The mine owner and the buyer, with legal counsel
- Checked by
- Legal counsel, and an outside party for the delivered bars
- Kept in
- File part B
Who profits, who takes the risk and who decides?
How profits are shared, who is responsible for what, and what happens if delivery is late or short.
- Documents
- The contract terms and the list of risks that apply
- Supplied by
- Both parties, in the contract
- Checked by
- Outside legal reviewers
- Kept in
- File part D
Part C of the file holds the signed findings from outside review for all three questions.
3 · How we work
Who does what, from the first review to the issued ounce
Each step has to pass before the next one starts. The purchase contract is signed between the buyer and the mine. Etalon Vault runs the reviews, keeps the file, vaults the gold and issues the ounces.
| Step | Mine owner | Buyer or its SPV | Etalon Vault | Independent checks |
|---|---|---|---|---|
| 1Review the mine | Shares ownership records, permits, production history, and how it looks after people, land and water. | Nothing yet. No buyer sees an offer before this step passes. | Reviews the records and decides whether to go further. | Not yet involved. |
| 2Independent review | Gives the reviewers what they need to test each claim. | Nothing yet. | Agrees the scope with the reviewers and adds their findings to the file. | Reviewers test each claim with their own method and sign each finding with their name and the date. |
| 3Buyer review | No action. Its name and location stay private. | Passes identity and eligibility checks, then reads the asset's whole file. | Runs the checks and opens the file to the buyer, with origin shown by country. | No action. |
| 4Purchase contract | Signs with each buyer, fixing what it will deliver and when. | Signs directly with the mine. From here it holds a contract right to receive gold. | Not a party to the contract. | Legal counsel shapes the terms. |
| 5Delivery and refining | Delivers doré as the contract says. | Holds the right to receive gold while delivery happens. | Waits for refined bars. | The refinery turns the doré into bars and assays them. |
| 6Vault and issue | No action. | Receives gold-backed ounces in an account in its name. | Places the bars in a vault by serial number and issues one ounce for each fine troy ounce. | An outside party confirms the bar list and vault receipt. |
| 7Review again when facts change | Sees every new finding added to its file. | Sees each new finding, with its date. | Adds corrections to the file and keeps the original visible. | Reviewers record the new finding. |
4 · Our commitments