What is the LODE Project?
The LODE Project is a collectively organized community of sound money advocates. The community recognizes that silver can again serve as an affordable, verifiable, secure store of value and means of commerce. With tokenized digital silver on the blockchain, it has the potential to become a superior, fast, low-cost, borderless medium of exchange.
Where does the term “LODE” originate from?
The term “LODE” comes from the phrase “mother lode”, which is a principal vein, or zone of veins, of gold or silver ore. The phrase refers to the origin or source of something valuable or in great abundance.
Why should I put my silver to work in the LODE Project?
Millions of silver stackers around the world hold tens of millions of ounces of investment grade silver as a safe and secure buffer against any potential economic collapse. Most, if not all, store their silver in traditional methods such as home safes and banks.
Most of this silver sits idle for many years, in the hope that it might, someday, provide the owner with financial protection and possibly, a better return of value over and above the original cost of their silver purchase. While this may well happen, there is no guarantee.
The LODE Project offers these “stackers” and other silver enthusiasts an opportunity to put some of their idle silver to work and receive micro-payouts for their contribution to the Project. Similar to what Uber has done for the transportation industry, the LODE Project seeks to do for silver.
How does the LODE Project work?
After creating an account, LODE members contribute silver through LODE’s verified vaulting partners.
Contributors then receive a LODE Token in a digital wallet as a receipt for the vaulted silver.
The silver is digitally recorded on the blockchain as AGX Coins. One AGX Coin is minted for each gram of silver.
AGX Coins are then enabled through options such as POS, tap and pay apps, ATM networks, prepaid debit cards, barter networks, and exchanges.
The proceeds from selling AGX Coins are used to buy more silver, which is then used to mint more AGX Coins.
LODE Token holders are rewarded by receiving micro-payouts for every AGX Coin minted.
Using blockchain technology, the LODE Project ensures that the supply of investment-grade silver bullion is made transparent and verifiable to ALL LODE Users at ALL times. It also provides certain rights and claims upon the silver as represented by two “tokens”, (the Lode Token and the AGX Coin) each uniquely and individually controlled by the holder through private encryption keys.
Where can I find more information?
What is a User of the system?
All Lode Token and AGX Coin Holders, Merchants, and Service Providers are “Users” of the system.
How does the LODE Community operate?
The community operates autonomously and is not dependent upon any one governing body, mind or management. Rather, a group of Service Providers use their specific areas of expertise to forward the mandate of the LODE Project. Users in the LODE Community rely on blockchain technology to instill trust across the system and remove any third-party or counterparty risk.
Who is the LODE Community?
The LODE Community is a Collectively Organized Distributed Ecosystem (C.O.D.E) made up of like-minded silver enthusiasts who advocate for the restoration of silver as money. In other words, advocates for “sound money.” There are many different users working within the LODE Community, including:
Contributors are registered members in the LODE Community who have contributed investment-grade silver into the LODE Project.
A Service Provider is a user within the LODE system that plays a role in the development and functioning of the LODE Ecosystem. Service Providers follow the ETHOS of the community and act within the guiding principles of Unity, Faith, Humility and Courage.
An Affiliate is an active contributor and user in the system, responsible for sharing the LODE Project with others, which in turn, expands the community. An affiliate receives micro-payouts for their efforts using a performance-based model.
An Ambassador is a contributor and user in the system that has solid knowledge and appreciation for the LODE Project. With an established online and social presence, the Ambassadors have a high level of professionalism and are leaders in their respective fields. They possess the skills and natural leadership for building and growing relationships that promote and benefit the LODE Community.
A Merchant is a participating user of the system that is involved in either the wholesale or retail trade of goods and services.
In simple terms, Interfix is a user/service provider in the system and acts as a “general contractor” providing arbitrage to the Community to harmonize and fulfill the objectives and mandates of the Community.
What is a Stake?
The word “stake” refers to staking a claim in the mining industry – the LODE Community uses this term affectionately for marketing purposes only.
Are there Stakeholders in the LODE Project?
There are no stakeholders but rather contributors who have put a portion of their idle silver to work in the LODE System.
What is a Claim of Right?
Claims of Right are building blocks to explain relatively complex matters as they relate to a personal piece of property. In the case of LODE, the token holders have a claim of right on all marginal, vaulted physical silver represented in the form of AGX Coins in the system. All AGX Coins in circulation are redeemable for physical silver. This is net of all operational system fees.
Have questions? Take a look at the full list of step-by-step procedures provided for the LODE community.
If you still have questions, don't hesitate to reach out to the support team by clicking on the chat icon at the bottom right of your screen (see image below).
Alternatively, you can also email email@example.com with your full name, username, Lode ID and email you use for the members portal, providing a detailed explanation of the issue you are having and someone contact with you within a business day.