{
  "_meta": {
    "purpose": "Metal per token as stated by the issuer (TS-GMRI-PEN, methodology v1.6). Used as: tokens in circulation (market cap / token price) x metal per token.",
    "as_of": "2026-10-24"
  },
  "units": {
    "KAG":   {"metal": "silver", "oz_per_token": 1,               "statement": "1 silver (KAG) = 1 ounce of silver", "source": "https://kinesis.money/silver/"},
    "KAU":   {"metal": "gold",   "oz_per_token": 0.0321507466,    "statement": "1 gold (KAU) = 1 gram of gold",       "source": "https://kinesis.money/en-gb/gold/"},
    "XAUM":  {"metal": "gold",   "oz_per_token": 1,               "statement": "each token represents one troy ounce of 99.99% LBMA-accredited physical gold", "source": "https://www.bit.com/knowledge-hub/matrixdock-gold-xaum"},
    "DGLD":  {"metal": "gold",   "oz_per_token": 1,               "statement": "each token corresponds to one fine troy ounce", "source": "https://dgld.ch/about-faq"},
    "VNXAU": {"metal": "gold",   "oz_per_token": 0.0321507466,    "statement": "1 token = 1 gram of investment-grade gold", "source": "https://vnx.io/precious-metals-access"},
    "CGO":   {"metal": "gold",   "oz_per_token": 0.0321507466,    "statement": "each CGO token represents 1 gram of gold of 999.9 purity", "source": "https://comtechgold.com/assets/pdf/cgo_whitepaper_v1.pdf"}
  },
  "no_metal": {
    "GOLDAO": {"statement": "governance token of the Gold DAO ecosystem; it does not itself represent metal", "source": "https://docs.gold-dao.org/other/faqs/gold-dao-ecosystem-tokens"}
  }
}