FREQUENTLY ASKED QUESTIONS
What is AGX?
Modern Money for a Global Community, built and protected by distributed-ledger (blockchain)technology.
What is LODE?
You can find out more about the LODE Community at www.lode.one
What is Modern Money?
Modern Money is real money because it’s backed by a real asset, tokenized silver. Modern Money is wealth you own, store and use at your convenience no matter where you are in the world. Modern money is ethical and isn’t used by third parties like banks to fund controversial initiatives, your money is secured and immutable and governed by blockchain protocols. Basically, Modern Money is everything it should be.
Cool, but what does AGX do for me really?
Due to fluctuating economies, inflation, static wages, and over-regulation – preserving wealth has never been harder. By backing your money with AGX, you build your wealth like the world’s 1% by tying it to an asset that has stood the test of time – silver.
Is AGX pay a bank?
No! AGX is the second part of the LODE System and is comprised of a global community that uses service providers to enable users to own and control their money. You can store your wealth, but the power belongs to you, the holder. It’s up to you how you store and spend your AGX, giving you the freedom to decide your financial future.
What makes AGX safe?
The system uses the distributed-ledger technology known as “Syscoin” to provide world-class security of your AGX. This technology that underpins the system allows for total security and autonomy, meaning you don’t need a 3rd party to guarantee your money is protected.
Is this Legal?
We operate under the common law practice of “bailment” which has existed for over 200 years and is acknowledged in most jurisdictions.
Who uses AGX?
Individuals like you. Your money is secured in your own private wallet, secure in and each coin is tethered to a verifiable one (1) gram weight of reserved silver bullion. Your AGX Coins may be exchanged at any point for goods and services, from virtually anywhere!
It’s not just individuals, many people and companies benefit from AGX:
Small business owners, manufacturers, professionals, and retailers can discover new customers by offering products and services within the LODE Marketplace and by accepting AGX Coins from other members seeking value. AGX Coins may allow a merchant to protect their purchasing-power from depreciating fiat currency, or to recover losses on idle inventory, or more easily afford business expenditures offered by other merchants aggressively seeking AGX Coins.
Silver Exchange Traded Funds (ETF’s) may discover that AGX Coin positions provide better security and flexibility than Silver Exchange Traded Funds, which require administration by various counterparties.
Industrial Users of silver may seek to buy, exchange, or earn AGX Coins as a means to further secure their hedging operations, or to secure future supplies of silver for industrial applications, or to speculate upon future silver prices.
Operators may conduct reciprocal trading for AGX Coin by offering their member inventories (scrip, due bills etc.) within the LODE Marketplace and provide their local members with new opportunities and new customers! When successful, exchange operators can exchange their AGX Coin balances for physical silver and other products. Also, the operators and/or their members will be enabled to “spend down” and profit with sound money!
Sounds cool, how can I get started?
The first step on your path to financial freedom is to join the AGX Community by registering an account through the members portal on the AGX website. The members portal is how you, and the other community members, can manage and track the usage of your coins.
How to use
The intent is for AGX to be used globally through physical, prepaid debit card programs, tap-enabled apps, ATMS and other payment gateways. AGX Coins may be exchanged or redeemed for investment grade (99.9%) silver bullion, or gold bullion products, through participating precious metals dealers (subject to the vendor’s terms and conditions), and through participating merchants via payment gateway service providers. (ie: debit, POS, ATM)
Where is AGX based?
We are a global community enabled by service providers in multiple jurisdictions around the world.
If I have a concern about my member account or want more information about the Project, who do I contact?
You can contact an Ambassador at firstname.lastname@example.org for more information, or ask questions and state concerns about your “Buy” or “Deliver” order, or about any other issues, concerns, or suggestions regarding your AGX Pay account.
What does it mean to be inflation resistant?
In 1971, the Official Gold Standard ended, allowing governments to print unlimited amounts fiat currency, backed by nothing more than the continued confidence by the people using it. At that time, $20 would get you a good-sized bag of groceries. But since then, inflation has continuously driven down the value of the currency in your pocket.
Everything costs more, and you get less. Meanwhile, silver’s purchasing power has remained consistent and, so too have the number of goods and services for which it is redeemable. By acquiring and using (or holding as a store of value) AGX silver-backed digital coins, you get more for your money in today’s – and tomorrow’s – marketplace.
Why silver and not gold?
Gold is expensive – making it harder for the average person to own. Historically, the ratio of silver to gold is 15:1. However, in today’s market, it is almost 80:1. Gold is often referred to as the “money of kings” and in today’s world, it is out of reach for the unbanked and inflation oppressed. Silver, on the other hand, is affordable – it has a long history of being “the people’s money,” dating all the way back to the Egyptians. From Greek democracies to Roman and Persian empires, and even Chinese dynasties, Silvers’ long history as money makes it the most tried and tested form of currency. In most recent history, it funded the expansion of the British Empire as the pound sterling, again as the people’s money.
Where does AGX silver come from?
Silver that makes up AGX is amassed globally by the LODE Community of silver enthusiasts, whose objective is to restore silver as money for the people – by the people. LODE Token holders construct a pooled mass of pure silver and then enable or tokenize that silver as AGX via blockchain. Lode Tokens holders provide the platform and the pure silver which empowers others (AGX Coin users) to use their private silver assets. AGX users work with the mass and then pay LODE Token holders back their silver in the form of AGX Pay. Over time, new marginal pure silver is generated by the system and then allocated to the mass. As the mass increases – so does the marginal silver. It is a classic wholesale to retail model which is utilized everyday by users and silver bullion dealers (ie. SWP, Money Metals, Kitco, SBG, Matterhorn Gold Australian Gold and Silver Exchange and Silver Bullion). Every silver gram is tracked to infinity using blockchain technology. Every AGX Coin in circulation is enabled and created from one gram weight of investment grade silver bullion.
To learn more about the LODE Project, join the community and learn how you can be an active part of the ecosystem. CLICK HERE Lode Tokens… the creators of Modern Money for a Global Community!
When & where can I purchase AGX?
Currently, the only place you can acquire AGX is through the reservation system on the AGX website. A list of merchants and other enabling providers will be published in early 2019 as soon as AGX Coins are generated.
How can I become an AGX Member?
The first step to becoming an AGX member is to create a member account on agxpay.com. As a member, you can join in the conversation and play an active role in growing the AGX Community by joining our subreddit. AGX also is present on globally recognized social media sites such as Facebook, Instagram, and Youtube, where listeners and followers can like, share and subscribe to AGX content to keep informed and up-to-date with current AGX news. Follow us and spread the world and bring AGX to the masses with our affiliate program (coming soon).