Three paths at maturity, each executed per the rules.
Exit Paths
At maturity, participants may exit through one of three routes. Each differs in liquidity and in how rights terminate.
① Gold redemption
At maturity, redeem for equivalent physical gold in Hong Kong.
Payout rights end on redemption — a one-off exit.
② Extend
Do not redeem; keep holding.
Payout rights continue, plus an extension yield, withdrawable as tokens at any time.
For those favouring long-dated cash flow.
③ Secondary transfer
Transfer the stake to another investor on the secondary market.
On transfer, rights move with the certificate.
Three paths compared
| Path | Trigger | Rights | Liquidity |
|---|---|---|---|
| Gold redemption | Maturity | Payout rights end; settled once | Executed by rule; highest certainty |
| Extend | Election at maturity | Payout rights continue + extension yield | Depends on later operations; no fixed maturity |
| Secondary transfer | Once transferable | Stake and rights move together | Matched at market price; ecosystem expanding |
All three paths follow the rules: gold redemption executes under the maturity terms; extension keeps distribution rights plus an extension yield, withdrawable as tokens at any time; secondary transfer matches at market price. Details follow the executed agreement.
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