I’m confused on this thought. An oracle will track the price of the asset, yes, but the OP is suggest a “backed” iAsset in iGold/iSilver, correct?
i did not think so, but i may be wrong.
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The idea of a custodian holding real gold/silver as collateral for a digital token contradicts the basic premise of a synthetic. That’s not what Indigo is designed to do.
For that matter, Paxos already offers a digital gold token collateralized by real gold held in custody. So there is that. But in terms of a collateralized digital iAsset, you’re correct, as I’ve already commented above.
Gold is a much larger market than crypto. Indigo will require more mature liquidity in order to accomodate the potential price increase of gold and silver, particularly with increasing inflation.
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I think we should consider the inclusion of deflationary currencies first.
For all practical intents and purposes, that’s already been done. After the mining of the last bitcoin, around 2140, bitcoin will become a deflationary currency. The only other iAsset currently offered by Indigo, other than iUSD, is iBTC.
Mission accomplished.
Thank you for the explanation. I like the idea!
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iAssets? No. As far as I understand, Indigo is a protocol to mint synthetic assets. If the DAO decides to create such iAsset, I think there would be a huge regulatory risk. That means they would have to deal with gold deposit, storage and giving reports to the competent regulatory body.
But, if the question is just theoretical, like can someone mint an asset backed by real assets? Then, the answer is yes (like the many stablecoins backed by fiat). But I don’t think this is the path that Indigo DAO should pursue.
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Yes to iGold and iSilver being apart of the Assets
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I think people asking to back iAssets with physical assets are forgetting that the dynamic at indigo is to create overcollateralized synthetic assets.
I am in favor of iGold and iSilver. 
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Institutional investors do not hold physical gold in bars, they hold metallic accounts in banks. Introduction of iGold might be interesting for those investors that also interested in crypto or want more decentralization.
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Yes to the addition of iGOLD/iSILVER as assets.
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I think this would be the logical next step for Indigo to take, after iETH. I’d be in favor of this proposal.
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is there an oracle that could help facilitate this?
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I believe Chainlink has both a gold and silver price oracle. Although, it would be essential to use more than one in case of hacks, glitches, etc. Charli3 would be able to establish them if they haven’t already.
Edit: “Chainlink is associated with providing the best price feeds for cryptocurrencies, FX rates, and an increasing number of other products. Chainlink provides data feeds for both the gold (XAUUSD) and silver markets (XAGUSD) as well as the entire Nikkei stock index of Japan, among others.”
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We could see if C3 will work with us.
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The feed needs to exist on-chain before an iAsset can be whitelisted. It’s great that you’ve got someone from Charli3 team to say that it’s theoretically possible. The theory has to be put into practice though.
How about as a next step somebody fills out Charli3’s service request form to submit the feed’s details to them for consideration. Some details will need to be worked out such as who will pay for the feed, where will the data sources come from, how many network nodes should there be, what should be the heartbeat, what should be the deviation, etc.
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How much does it cost?
I’ve been discussing the matter with Charli3 via Twitter.
Apparently, there is a compatibility issue (according to my understanding) between the two that is in the the process of being resolved. The advice I’ve received is to wait for an announcement from Charli3 and Indigo before further pursuing a gold or silver oracle. I submitted a poll yesterday to whitelist iGold under the mistaken impression that the oracle particulars had to be provided at a later stage in the process, but closed it after having been informed that the oracle issue needed to be resolved before proceeding.
According to Charli3, the only thing to do, at this point, is wait.
As of now, that is all the relevant information I have.
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