BRX LTD will issue a maximum amount of 21.000.000.000 (twenty one billion) BR2EX, with an initial reference price per unity of a gram of gold (1:1 of the g of 24 carats of gold).
Therefore, 21.000.000.000 (twenty one billion) grams of gold will be gradually acquired by BRX LTD maintaining in this manner the indicated parity.
The gold’s acquisition will be possible by using the fees charged for transactions, as described in this chapter’s item number 4.
The gold guaranteeing fund will be deposited in an authorized financial institution in Switzerland.
Furthermore, it is worth mentioning again that BRX LTD does not negotiate directly in BR2EX’s retail market, the coins are made available to the partnering DLT exchange who adheres to POD. The DLT exchange partners are the only ones authorized to circulate BR2EX in the retail market.
BR2EX’s coins are delivered to the commercial partners for them to use the virtual currency as exchange and value reference within its platforms.
In the moment that the platform users credit themselves through BR2EX’s acquisition, they are free to make transactions in the partners platforms. The user will be able to liquidate the values in “real” (BRL) through the exchange partner.
The only way to withdraw BR2EX coins through BTX LTD is in the hypothesis of the partnership’s ending or in other exceptional situation contractually predicted and only the partner can do it. In these hypotheses, BRX LTD would liquidate the coins based on the established reference value. The BR2EX coins received by BRX LTD will be maintained in custody and the company will, in the deadline defined in the contract, transfer the equivalente in fiat money to the DLT exchange partner.
The DLT exchange interested in being a BRX LTD’s partner in the “Digital Gold” project, should contract with BRX LTD to license POD software usage in order to be able to offer BR2EX’s coins to its customers. The licensing costs will be stipulated by contract and may be paid with cryptocurrency and/or fiat money.
The partner will pay the issuer the POD’s membership fee that is equivalent to the number of BR2EX made available to the partner’s platform, based on the BR2EX reference value, the price of gold per gram, the shipment date, in addition to the collection of other fees to cover operating costs.
There will not be direct charging of fees to BR2EX’s users by BRX LTD. However, it should be noted that BR2EX transactions are subject to the payment of operating cost fees, amounting to 0.0006% of the transaction’s value. This fee is directed to the transaction “certifying nodes”, part of them being redirected to the BRX LTD broadcaster or used for additional gold acquisition, in order to strengthen the existing reserves.
Each operation involving BR2EX will be charged with the operational costs fee, amounting to 0,0006%, that will be endured by the DLT exchanges. Part of the received value will be used to acquire gold, aiming to increase the guaranteeing fund’s reserve.
BRX LTD will acquire representative certificates negotiated directly with a specialized financial institution in Switzerland, a market traditional company that commercializes assets and that will be responsible for the custody of all the volume of gold acquired by the issuer.