At G-Wallet Corp, we want to make sure all users are aware of any fees involved. Each G-Coin token evidences your ownership of physical gold held in a licensed storage facility. These vaults charge a fee to store and insure gold, and this fee is charged to G-Coin token holders as described in the Vault Terms.
Currently, the physical gold associated with the G-Coin held in your account is subject to a storage fee of 0.2% per year, accruing daily. The accrued fee value is calculated once daily and divided by 365 (the number of days per year).
- First day of the month: User buys $1,000 worth of G-Coin (XGC)
- Second day of the month: (1,000 * 0.002) / 365 = $0.005479
- Total accrued fees as of the last day of the month (30 days later): $0.16
- Monthly storage fee = $0.16