hackquest logo

Ark Gold

Ark Gold is a 1:1 on-chain token backed by investment-grade bullion at Korea Gold Exchange. Hold gram-level gold, move it in seconds, and redeem for physical bars

Videos

Tech Stack

Next
Vue
Web3

Description

Project Overview

Ark Gold ($AGLD) is a decentralized RWA protocol that establishes a cryptographically verified link between physical gold and on-chain liquidity. Issued natively on the Mantle Network, $AGLD eliminates the "bridge risks" associated with wrapped assets and introduces the first Atomic Verification Standard for commodity tokens.

The Problem

Current gold tokens suffer from two critical flaws:

  1. Audit Latency: They rely on monthly paper audits, creating a 30-day "blind spot" where reserves are unverified.

  2. Bridge Risk: Most L2 gold tokens are merely "wrapped" versions of Ethereum assets. If the bridge fails, the token becomes worthless.

The Solution: Ark Gold

We replace "Post-Audit Trust" with "Pre-Validation Enforcement."

  • Mantle Native: Minted directly on Mantle for sub-second finality and negligible fees.

  • The Circuit Breaker: Our smart contract queries the Korea Gold Exchange (KGE) inventory API every 10 seconds. If Mint Amount + Current Supply > Physical Reserve, the transaction Reverts immediately.

  • Sovereign Custody: Backed 1:1 by Allocated Gold Bars stored in KGE’s sovereign-grade vaults, legally segregated from the custodian's balance sheet.

Key Features

  • 🪙 Native Issuance: Zero bridge risk. Pure Mantle-native liquidity.

  • 🛡️ Circuit Breaker: Mathematically impossible to over-mint tokens.

  • 🔍 Proof of Reserve: Real-time on-chain verification (vs. monthly PDF reports).

  • 🏦 Trusted Partner: Anchored by Korea’s largest precious metals distributor (KGE).

Progress During Hackathon

During this hackathon, we built the entire Ark Gold MVP from scratch on the Mantle Sepolia Testnet. 1. Smart Contracts (Solidity): Developed the ArkGold ERC-20 contract with the core "Circuit Breaker" logic. Implemented the mint function that automatically checks on-chain Proof-of-Reserve (PoR) data before execution. Deployed and verified contracts on Mantle Sepolia. 2. Mock Oracle Infrastructure (Node.js): Built a simulation script to mimic the Korea Gold Exchange (KGE) Inventory API. Successfully implemented a logic that pushes reserve data to the smart contract every 10 seconds. 3. Frontend & Integration: Created a Web3 dashboard to visualize the Reserve vs. Supply status in real-time. Key Achievement: Demonstrated the "Transaction Revert" scenario where the system blocks minting when the physical reserve is simulated to drop.

Fundraising Status

Bootstrapped
Team Leader
JJesse Sung
Project Link
Sector
RWADeFi