Yes, however traders in the open market trade “contracts” of the commodity with out actually owning the physical item.
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I’m on board. Bring the metal \m/
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Will this Chainlink feed work?
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I think this is a good idea! A currency tethered to the price of a precious commodity like Gold or Silver would be good for both Cardano and Indigo. How can we make this happen??
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This temperature check discussion is the first step in the process. We also need an oracle, a price feed to maintain the price on chain. Chainlink has one. I just need to be sure it’s compatible with Indigo. I’ve asked around on here and elsewhere. Waiting on feedback on that.
I think the next step after the oracle is to place this temp check discussion in the proper section on discord for community feedback, then run a poll on here to vote whether to add a particular iAsset. The first would obviously be iGold. After that, it’s submit a proposal for a vote on Indigo Protocol. If the vote passes, the asset is added.
I may have missed a step or two, so don’t quote me, but I think that about sums it up.
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does indigo also plan to use orcfax as oracle?
as long as we have more than one oracle I am in favor of iGold and iSilver
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I’m not sure about the magnitude of the benefits. I’d rather start with more popular assets for more variety and to increase the user base. 
Gold is a globally desired asset. What would you consider more popular?
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Should reach out to APMEX and see if they are interested in there first on chain partnership, the recently just released 1Gold which is their “digital” version of purchasing gold and silver, I wonder what they would think about this
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People in crypto tend to overestimate the relative dominance of digital assets. Crypto is a niche market. It’s tiny by comparison to gold and silver. Gold alone has a five thousand year history (at least), a $12 trillion market cap and is bought by central banks and retail consumers around the world. Silver is the most prevalent (sound) money in human history. Precious metals are orders of magnitude more popular than all of crypto combined. There is no digital asset, including bitcoin, that even comes close to being as popular as gold.
I would really like a lawyers opinion on that.
Generally we should be careful when creating iAssets pegged to real Assets, as it increases the regulatory risk. I guess it’s not as big a risk as mimicing shares of a company, but it should be considered.
Gold has almost no real use. It is actually a very seculative Asset that draws it’s value mostly from belief.
To create a “safe” store of value, why not take the value of the US Dollar or the mean value of a few currencies right now, give it a new name and use that. Substracting all inflation that comes in the future and keep the iAsset pegged to the same buying power it has right now. That would be a truly non-speculative Asset.
With all due respect, I don’t understand this commentary.
Money is inherently a belief system. All money draws its value from belief. The same can be said for any currency in human history, but especially presently, where we all fill our pockets with paper BELIEVING it to be of value in what amounts to a collective hallucination. Do you imagine that green pieces of paper have some inherent value? Clearly not. It’s just paper.
I think maybe you don’t understand the service Indigo is designed to provide. Pegging digital assets to real assets is precisely the reason Indigo exists in the first place. From the website: “Indigo is an autonomous synthetics protocol for on-chain price exposure to real-world assets, built on Cardano.” Emphasis on “real world assets”. The value proposition of Indigo would drop significantly were it to be exclusively relegated to a digital asset circle jerk.
There can be no such thing as a non speculative iAsset. Since one obviously doesn’t own the actual physical asset, the only reason to ever own an iAsset is to speculate on the price. Indigo is an inherently speculative instrument.
I’ve already addressed the inflationary nature of fiat currencies in the thread above. All fiat currencies ultimately go to zero. Pegging a digital asset to a basket of inflationary currencies, in the name of monetary stability, is like trying to fireproof your house by insulating the walls with charcoal. Not advisable.
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I completely agree with this rebuttal and the purpose of tokenizing commodities beyond the digital asset niche. It makes perfect sense to start with BTC, and Eth but ultimately the platform has to offer more. Otherwise, people would just go onto an exchange to buy real BTC or Eth. You can offer fractionalized oil barrel prices, diamonds, stocks and beyond.
The idea of bringing access of the price of commodities to everyday people via synthetics in a user friendly fashion has a real place in this market. The average person doesn’t know how to invest in a gold ETF or have the physical storage to hold it. The idea of having access to the price point of gold or silver without having to jump through hoops to get it is very appealing to me.
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We have to see beyond the horizon. China has been accumulating gold for a long time and the BRICS have plans for a currency backed by the metal. A new Bretton Woods deal? If the US fiat currency falls, the new gold standard will index the world economy. It would be interesting to be exposed to this asset via Indigo. Discussions with the oracle must go forward.
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I agree 100%.
When the world finally abandons the dollar (and contrary to the opinion of western optimists, it is currently collapsing), the next currencies are going to be backed by gold. Precious metals will return to monetary prominence as people come to terms with the inexorable contradictions created by fiat money.
We can either be ahead of the curve or behind it.
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I think this is great idea, having the possibility to get exposed to gold is a logical key step that we should make with indigo! Hopefully we can get an oracle soon 
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i love the idea when can we get this up
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lets get this in a vote
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The first step is finding a native oracle solution.
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