PARTNERSHIP ECONOMICS

ALIGNED. PROVABLE BACKING.

Backed 1:1 by AGX vault metal, attested daily on-chain. Every fee splits 80/20 between Obsidian and AGX. Same metal, more revenue layers.

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Reserve Ratio

100%

Fully collateralized

AGX Share · Year 1

$117K

20% of protocol fees

Tokens Backed

5 / 5

SPL Token 2022 · Devnet

ZK Attested

Daily

Light Protocol on-chain

Latest ZK Proof

0x7f4a9c8b2e6d1f3a8b9c4d5e6f7a8b9c0d1e2f3a4b5c6d7e8f9a0b1c2d3e4f5a

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Reserve Allocation · All 5 Tokens

$86.69M USD

XAULIVE

xGOLD

10,000 oz

$3.18k · 36.7%

XAGLIVE

xSLVR

500,000 oz

$31.42 · 18.1%

AUDLIVE

xGLDD

60,000 coin

$154.88 · 10.7%

AGDLIVE

xSLVD

300,000 coin

$24.26 · 8.4%

GBKLIVE

xGLDB

2,500,000 note

$9.05 · 26.1%

AGX Today vs AGX × Obsidian

Revenue from metalMultiple new layers

Member reachDistribution × 100

LiquidityDays to milliseconds

Audit & trustQuarterly to daily

Developer surfaceNet-new revenue

Revenue Model

Fee Structure &Projections

Protocol fees split 80 / 20 between Obsidian treasury and AGX as custodian revenue share.

Fee Schedule

Mint Fee

Charged when xGOLD is issued

0.25%

25 BPS

Redemption Fee

Charged when xGOLD is burned / redeemed

0.25%

25 BPS

Transfer Fee

SPL Token 2022 on-chain transfer hook, every tx

0.10%

10 BPS

Annual Custody Fee

Annualised reserve attestation & ZK proof costs

0.05%

5 BPS

Revenue Split

80% Obsidian treasury20% AGX custodian share

Annual Revenue by Adoption

Year 1 Target Breakdown

Mint revenue (entry)$255K

Redemption revenue$77K

Transfer fee revenue$204K

Annual custody fees$51K

TOTAL$587K/yr

Obsidian treasury (80%)$469K/yr

AGX revenue share (20%)$117K/yr

Projections based on 60,000 AGX members · $8,500 avg holding · $3,178.5/oz gold

Funding Tranches · AGX SOW

1 / 3 complete

PHASE 1 · FOUNDATION

5 contracts deployed · AGX partnership signed · ZK attestation live

APR 2026

COMPLETE

PHASE 2 · MAINNET BRIDGE

Security audit · mainnet deploy · liquidity bootstrapping

Q3 · 2026

IN MOTION

PHASE 3 · SCALE

x402 API gateway · 60K AGX member onboarding · DeFi integrations

Q1 · 2027

UPCOMING