What FGDLX tracks
FGDLX tracks the price of gold through Franklin Responsibly Sourced Gold ETF. Depending on the issuer, a gold token either follows shares in a gold fund that holds bullion or is issued directly against gold the issuer holds in a vault.
Gold pays no income, so the value of FGDLX comes from the gold price alone, less any fund or issuer costs.
About Franklin Responsibly Sourced Gold
Franklin Responsibly Sourced Gold (FGDLX) is issued by xStocks and trades on the Solana blockchain. Franklin Responsibly Sourced Gold is verified on Solana's token registry. The price, 24-hour volume and liquidity shown here update live from trading on Solana DEXes.
FGDLX contract address
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How FGDLX works
FGDLX is issued by Backed Finance. Backed Finance issues xStocks through Backed Assets (JE) Limited, which holds the underlying securities with custodians and handles minting and redemption for eligible clients.
What you hold is the token, not the underlying asset. FGDLX tracks the price of Franklin Responsibly Sourced Gold ETF, but it doesn't give you shareholder rights or a direct claim on the underlying holdings. Minting and redemption are handled by Backed Finance for eligible clients under its own terms. Solflare is a self-custody wallet for holding and swapping FGDLX, and it does not issue, back, or custody the token.
The price of FGDLX on Solana is set by on-chain trading. Where liquidity is deep, it tends to stay close to the underlying price. Where liquidity is thin, a small swap can move the price and the gap to the underlying can widen.
The asset behind FGDLX doesn't pay distributions, so the value of FGDLX reflects price movement alone.
When can you trade FGDLX?
FGDLX can be swapped on Solana at any hour, but the fund it tracks trades only during US market hours. Outside those hours there's no live fund price, so the price of FGDLX comes from on-chain trading alone and can drift from the fund's last close.
Related markets
Other tokens tracking Franklin Responsibly Sourced Gold ETF
| Rank | Tokenized by | Trading hours | Buy | |||
|---|---|---|---|---|---|---|
| 1 | Franklin Responsibly Sourced Gold ETF | $51.62 | 0.14% | Ondo | US market hours |