PARTNERSHIP ECONOMICS
ALIGNED. ON BOTH SIDES.
Obsidian doesn't compete with AGX. It tokenizes AGX. Every fee streams 80/20 to the Obsidian treasury and AGX as custodian. Same metal, more revenue layers.
| Dimension | AGX Today | AGX × Obsidian | Δ |
|---|---|---|---|
| Revenue from physical metal | Custody fees only (~50bps/yr on stored metal) | Custody fees + 20% of all protocol fees + API revenue share | Same metal · multiple revenue layers |
| Member reach | 60,000 members · single touchpoint per quarter | Same 60,000 + every wallet on Solana that touches an Obsidian token | Distribution × 100 |
| Liquidity for AGX members | Sell metal back to AGX, wait days for cash | Mint xGOLD on-chain, send / spend / swap in 400ms | Days → milliseconds |
| Audit & trust | Quarterly audit reports, manual reconciliation | Daily ZK-attested reserve proofs, on-chain verifiable | Quarterly → daily, manual → cryptographic |
| Developer surface | None | x402-gated APIs · pay-per-call · AI-agent native | Net-new revenue line |
Phases Complete
1 / 3
PHASE 1 · FOUNDATION
5 SPL Token 2022 contracts deployed · AGX partnership signed · ZK attestation live · devnet active
APR 2026
PHASE 2 · MAINNET BRIDGE
Security audit · mainnet deploy · Pyth oracle integration · liquidity bootstrapping
Q3 · 2026
PHASE 3 · SCALE
x402 API gateway · partner SDK · 60K AGX member onboarding · DeFi collateral integrations
Q1 · 2027
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
Annual Revenue by Adoption
Year 1 Target Breakdown
Projections based on 60,000 AGX members · $8,500 avg holding · $3,178.5/oz gold