Legal Oversight
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XRB DAO was established by Legacy Vault Services STC B.V. (registered in Curaçao under number 169064) to facilitate the tokenization and governance of digital assets represented on the blockchain. XRB DAO enables the representation of ownership of assets like those held within XRBG Trust (registration number 169124) on the blockchain, allowing for efficient and secure management and transfer of XRBG token. Through its governance functions, XRB DAO ensures the integrity and transparency of these digital assets, operating under the direction of Legacy Vault Services STC B.V.
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Legacy Vault Services STC B.V. is incorporated in Curaçao under registration number 169064 and, together with XRBG Trust, is regulated by the Central Bank of Curaçao and Sint Maarten (CBCS) in cooperation with the Dutch Central Bank (DNB). This regulatory oversight ensures compliance with all applicable financial laws, including anti-money laundering regulations, and upholds system integrity and consumer protections. The gold is safeguarded under the strict legal framework of Dutch authorities.
All XRBG token issuance, redemption, and burning are governed by the Asset Digitization Trust Agreement (ADTA). Redemption requests from token holders will be honored and cannot be refused, except in cases of criminal activity by the token holder. The smart contract governing XRBG tokens is published on the blockchain, ensuring transparency and immutability. Immutability means no party can alter the agreed terms in the smart contract, thus protecting token holder ownership rights under the laws and regulations of the Kingdom of the Netherlands.
Legacy Vault Services STC B.V. has engaged a renowned certified public accounting firm to conduct quarterly and annual audits. The objective is to verify that XRBG Trust assets, including XRBG tokens, correspond 1:1 with grams of Good Delivery gold held in vaults by verified third-party partners. These audits ensure transparency and accountability. Furthermore, they confirm that gold-to-token reserves are maintained at a 3:1 ratio.
The XRB Gold smart contract, named CompliantXRBGoldEthereumXRBDAO on Ethereum and CompliantXRBGoldPolygonXRBDAO on Polygon, was compiled and deployed using Bitbond's Token Tool. Bitbond’s configurable smart contracts have already been pre-audited by CertiK to ensure they work as intended. CertiK, founded in 2018 by professors from Columbia and Yale, is a leading blockchain security firm. It uses advanced technologies like Formal Verification and AI to secure and monitor blockchain protocols, smart contracts, and Web3 applications. Since the smart contract code is pre-audited by default and forked from a battle-tested, existing ERC-1400 compliant standard—rather than generated from scratch—independent verification wasn't entirely necessary for deployment purposes. However, for compliance and reporting purposes, the XRB Gold smart contract will seek its own independent smart contract audit by third-party specialists and publish the results in our documentation.
XRB Gold is actively implementing third-party analytical tools like Chainalysis to monitor blockchain transactions. This monitoring aims to detect and investigate potential instances of criminal activity, such as fraud and money laundering. As XRBG operates on public blockchains like Ethereum and Polygon, anyone can easily review and audit the entire transaction history since its inception.