# 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<br>

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