01
Buy in a tranche
Qualified investors, after KYC. Minimum 1 AUVX at the tranche's issue price.
The AUVX token
A gold-referenced token.
One AUVX references one gram of gold. The issuer buys it back at the LBMA price from 18–24 months after its tranche is released.
1 AUVX = 1 gReference asset
LBMA gold priceReference price
18–24 monthsBuyback opens
1 AUVXMinimum purchase
How AUVX works.
Each AUVX references 1 gram of gold, valued at the LBMA gold price.
From 18–24 months after a tranche's release, holders can sell its tokens back to the issuer for cash at the LBMA price, with no fee.
Or take physical delivery of gold from 1 kg (1,000 AUVX), in eligible jurisdictions.
Before the buyback opens, tokens can be traded on licensed venues between eligible holders.
Term sheet
- Token name
- Auvixus Gold Token
- Ticker
- AUVX
- Reference asset
- Gold: 1 AUVX = 1 gram
- Reference price
- LBMA Gold Price, converted to grams
- Minimum purchase
- 1 AUVX (1 gram)
- Buyback opens
- 18–24 months after the tranche's release date
- Cash buyback
- Any amount; LBMA price on exercise date; paid within 10 business days; no fee
- Physical delivery
- Minimum 1 kg (1,000 AUVX / 32.1507 troy oz), then whole troy-ounce increments
- Shipping costs
- Borne by the holder
- Holder rights
- Contractual redemption claim; no equity, voting, dividends, interest or profit share
- Issuer
- Auvixus Ltd, Republic of CyprusReg. no. HE 499252
- Intended classification
- Asset-referenced tokenUnder MiCA (Regulation (EU) 2023/1114)
- Gold status at issue
- UnminedNot backed by allocated physical gold at issue
- Issue price
- Set for each tranchePublished in its tranche notice
- Eligible holders
- Qualified investors onlyMiCA Art. 3(1)(30)
- KYC and AML
- RequiredBefore purchase, any transfer to a new holder, and redemption
- Secondary trading
- Licensed venuesBetween eligible holders only
- Blockchain and token standard
- To be confirmed
- Competent authority
- CySECCyprus Securities and Exchange Commission
Cash buyback
Any amount
LBMA price per gram on the date redemption is exercised. Paid within 10 business days. No redemption fee.
Physical delivery
From 1 kg
Minimum 1,000 AUVX (32.1507 troy oz), then whole troy-ounce increments. Shipping costs borne by the holder; eligible jurisdictions only.
Before buyback opens
Trade only
The issuer does not buy back AUVX until its buyback date. Before then, tokens can be traded on licensed venues between eligible holders.
Holder rights
Redemption claim
A contractual redemption claim against Auvixus Ltd. No equity, voting, dividends, interest or profit share.
From tranche to redemption.
Until the buyback opens, the only exit is a trade with another eligible holder.
02
Hold or trade
On licensed venues only. The buyer must also be an eligible qualified investor.
03
Buyback opens
18 to 24 months after the release of its tranche; the exact date is in the tranche notice.
04
Cash or gold
Cash at the LBMA price on the exercise date, no fee — or physical delivery from 1 kg, shipping agreed within 10 days.
The gold is unmined at issue.
The gold each tranche references is unmined when the tranche is released. AUVX is therefore not backed by allocated, vaulted physical gold at issue.
Gold status at issue
Unmined. Holders have no claim on any mine, its output or its revenues. Their claim is the contractual redemption right against Auvixus Ltd.
Segregation
The reserve of assets held against AUVX in circulation is held separately from the issuer's own assets and from any mining operation. Arrangements to be confirmed.
Public reporting
AUVX in circulation and the value and composition of the reserve will be published at least monthly (MiCA Art. 30).
To be confirmed
Gold source (mine, licence and location), reserve composition and valuation method, custodian, and the orderly redemption plan if the issuer cannot pay.
Tranche notice
Each tranche is announced with:
- Release date
- Number of AUVX issued
- Issue price
- Buyback opening date, between 18 and 24 months after release
- The gold source the tranche references (to be confirmed)
Tokens from different tranches reach redemption at different times. Holders have no claim on any mine, its output or its revenues.
Eligibility and redemption.
Buy into a tranche, hold or trade with other eligible holders, then from the buyback date choose cash at the LBMA price or gold from 1 kg.
01
Pass KYC and AML
Qualified investors only. Each buyer provides identity, source-of-funds and eligibility evidence before purchase.
02
Buy in a tranche
Minimum 1 AUVX (1 gram), at the issue price set in the tranche notice.
03
Hold or trade
On licensed venues only. The buyer must also be an eligible qualified investor; transfers to ineligible persons are blocked.
04
Buyback opens
18–24 months after the tranche's release. Choose cash at the LBMA price (any amount, no fee) or physical delivery from 1 kg.
Redemption timeline
- Cash buyback paidCash
- Up to 10 business days
- Logistics and shipping cost agreedPhysical
- Up to 10 days
- Holder confirms shipmentPhysical
- 48 hours
- Switch to cash after declining shipmentPhysical to cash
- About 10 further days
Eligibility and trading
- Qualified investorsMiCA Art. 3(1)(30): professional clients in MiFID II Annex II, Section I, points (1)–(4). Individuals who opt up are not included.
- Eligible
- Secondary tradingLicensed crypto-asset trading venues restricted to eligible qualified investors
- Allow-list
- Restricted jurisdictionsNot offered where its offer would breach local law. UK offers subject to FCA financial promotion rules.
- To be confirmed
Warnings and risk factors
The main risk is that the gold behind each tranche does not yet exist above ground, so redemption depends on the issuer's ability to produce gold or raise cash.
Warnings
AUVX may lose its value in part or in full.
AUVX may not always be transferable.
AUVX may not be liquid.
AUVX is not covered by any investor compensation scheme under Directive 97/9/EC.
AUVX is not covered by any deposit guarantee scheme under Directive 2014/49/EU.
AUVX is not backed by allocated physical gold at issue: the gold each tranche references is unmined when the tranche is released.
The issuer does not buy back AUVX until 18–24 months after the relevant tranche's release.
AUVX gives no ownership of, or share in the profits of, Auvixus Ltd or any mining operation.
Risk factors
Production risk: the gold each tranche references is unmined at issue. If mining is delayed, suspended or fails, the issuer may be unable to deliver gold or fund the buyback.
Issuer credit risk: the buyback is a contractual claim on Auvixus Ltd. If it cannot pay, holders may lose some or all of their money.
No early buyback: the issuer does not buy back AUVX until 18–24 months after its tranche's release. Before then, the only exit is a sale to another eligible holder.
Liquidity risk: there may be no buyer on a venue, or only at a price well below the gold value. Restricting holders to qualified investors narrows the pool of buyers.
Gold price risk: the buyback pays the LBMA price on the redemption date, which may be lower than when you bought.
Market price risk: AUVX may trade below the gold price, particularly well before its buyback date.
Regulatory risk: an authority may disagree with the intended classification or require changes. If AUVX were treated as a financial instrument, different rules would apply.
Physical delivery risk: delivery depends on your jurisdiction, available shipping and its cost, and may not be possible where you are.
Technology risk: smart-contract faults, lost wallet keys, or failure of the blockchain or a trading venue can cause loss of tokens.
Tranche risk: tokens from different tranches have different buyback dates; a holder may not receive tokens from the tranche they expect.
The AUVX white paper is to be notified to the Cyprus Securities and Exchange Commission (CySEC). It has not been approved by CySEC or any other competent authority. It is not a prospectus, and the offer of AUVX is not an offer or solicitation to buy financial instruments. Prospective purchasers should conduct their own due diligence and seek independent professional advice.