Why This Is Not Legacy “Unallocated” Metal

Legacy unallocated metal systems rely on pooled liabilities, issuer discretion, and opaque accounting. Standard Metal Units are fundamentally different.

They feature:

• No pooled ownership

• No issuer balance sheet exposure

• No discretionary redemption

• No rehypothecation

• Continuous proof of reserves

Every unit is anchored to standardized, deliverable metal under governed rules.