About the Puregold Token
The PGT token is currently undergoing a token swap to PGTS, which ends on 8th April 2019.
Puregold token (PGT) is an Ethereum token from Puregold.sg. The token was the company’s initial attempt at bringing gold backed, token payments in to a 21st century digital reality.
Although the PGT token is not directly backed by gold, it is closely linked to the upcoming PGG token offered by the same company. When live, 1 PGG will equal 1g 99.9% gold. Puregold have stated that PGT holders will be eligible for a reward of sorts in PGG depending on their PGT holdings. No solid details have yet been confirmed.
Previously, you could purchase gold on the Puregold website using PGT, but this is currently unavailable likely due to the ongoing token swap.
Puregold Token Swap
On March 26th 2019, Puregold suspended trading on COSS.io. Puregold stated this was due to an upgrade of the smart contract, which would fix loopholes in the PGT token code.
Once complete, the updated contract will create a new token – PGTS. Puregold also claims their proprietary payment app PG-Pay will also be updated in the process. The update will improved speed and efficiency with the PGTS token.
How to Swap PGT to PGTS
Users who hold PGT on COSS will not need to do anything. All tokens on the exchange will be swapped by COSS automatically. The new PGTS token will begin trading in place of PGT when the swap is complete.
The swap is ongoing and ends on 8th April 2019.
If you hold PGT on any other exchange or an external wallet, you will need to transfer the token to the PG-Pay app wallet before the swap end date.
See this article from Puregold for more information about the PG-Pay app.