End-to-End Lifecycle

End-to-End Gold Certificate Token (GCT) Lifecycle

This section outlines the full lifecycle of a Gold Certificate Token (GCT), from initial issuance to final redemption.

Step 1: Gold Bar Sourced

• A vendor partners with a gold supplier and receives a certified bar (e.g. 1 t oz, serial XYZ123456).

Step 2: GCT Issued

• The vendor creates a new inscription under their Vendor Root.

• The inscription includes protocol-compliant CBOR metadata.

Step 3: GCT Sold or Transferred

• The vendor lists the GCT on a marketplace.

• A buyer purchases the GCT and it is transferred to their wallet (ownership changes via Bitcoin transaction).

Step 4: Holder Controls the GCT

• The holder can store, trade, or hold the GCT.

• If they wish to redeem it, they must follow the protocol's burn process.

Step 5: GCT Burned for Redemption

• The holder uses a verified vendor portal to generate the appropriate burn inscription.

• The GCT is burned to an OP_RETURN script, with metadata and a signature proving control of the wallet.

• Once burned, the redeemer can contact the vendor or supplier directly to initiate the redeem process of the physical gold bar