To support HanaGold’s product plan and based on user needs, ONUS will convert CHI tokens on the ONUS app to PAX Gold (PAXG) – a stablecoin with a value equivalent to 1 ounce of gold issued by Paxos.
- Currently, the CHI stablecoin is pegged to ensure that 1 CHI is equivalent to 1 tael of gold.
- After the conversion, all CHI tokens in circulation on ONUS will be converted to PAXG tokens at a rate of 1 CHI = 0.12056521 PAXG. Each PAXG stablecoin is pegged to 1 ounce of gold.
- After the conversion, CHI tokens will be delisted from the ONUS app.
Users can still buy and sell gold directly on the HanaGold app. Download the HanaGold app here: App Store | Google Play Store.
Conversion Plan
June 10th, 03:00 AM (UTC): All Features Closure
- Close trading for CHI assets, including Swap, Off-chain Trading, P2P, Farming, Crypto Loan.
- All user balances participating in CHI Farming Pools will be automatically unstaked.
- Users are requested to repay any CHI-collateralized Crypto Loans before 03:00 AM on June 10th. After this time, the system will automatically liquidate the loans.
June 11th, 03:00 AM (UTC): CHI to PAXG Conversion
- All user CHI balances will be automatically converted to PAXG at a rate of 1 CHI = 0.12056521 PAXG.
About PAXG
PAX Gold is a gold-backed stablecoin licensed by the New York State Department of Financial Services. Each PAXG token is collateralized by 1 ounce (approximately 31 grams) of London Good Delivery gold bars stored in Brink’s vaults. Anyone who owns PAXG has the right to an equivalent amount of physical gold held by Paxos. PAXG was created with the ambition of democratizing gold and making it more accessible to small investors.
PAXG has many advantages such as: Easy to trade, can be redeemed for physical London Good Delivery gold, underlying assets are securely stored in gold vaults,…
About CHI
HanaGold – Jewellery Shop 4.0 is a project developed by HanaGold Jewelry Company that allows users to buy and accumulate gold from just 100,000 VND, and have the opportunity to earn an annual profit of 8%.
CHI is defined as technological gold; a blockchain application developed based on the standard Ethereum ERC20 platform. CHI pegged to the metal as Gold by convention 1 CHI is equivalent to 1 Tael – the most commonly traded quantification of real gold in Vietnam. CHI is tokenized with the real asset of gold, making it easy for CHI holders to exchange at a low cost.
Learn more about HanaGold at: https://hanagold.vn
