Why the Marketplace Is Not the Tokenization Engine

Tokenization and collateralization occur within Global Gold Tokens, not the Marketplace.

The Marketplace:

• does not mint or burn tokens

• does not perform collateralization or title transfers

• does not manage backing, supply invariants, or monetary parameters

It only provides a non-custodial interface through which exchange may occur between willing buyers and sellers of allocated assets.

This separation of concerns:

• prevents systemic risk

• preserves clean accounting

• mirrors traditional commodity market architecture

• allows each layer of the system to scale independently

The result is a marketplace that behaves like a modern, digital extension of physical bullion markets—without introducing custody, leverage, intermediation, or discretionary control.