IFRITLEAKS
Every Burn Counts: The Gold Arithmetic Behind Ethicoin
Ethicoin's gold reference is a formula anyone can recompute. Because tokens can be burned but never minted, the grams behind each token can only rise.
Ethicoin (ETHIC+) does not claim to be backed by a vault. It is gold-indexed: its reference value follows a formula published in the open.
The formula
Grams of gold per token equal 90,000,000,000 divided by the circulating supply. Circulating supply is the total supply minus the river-remediation reserve. Divide the grams by 31.1034768 and multiply by the gold price (XAU/USD) to get the indexed value.
Why burning matters
Any holder can burn ETHIC+ permanently. With no way to mint replacements, every burn shrinks the circulating supply — and raises the grams credited to every remaining token. At launch the figure was 0.1 gram; burn a fifth of the circulating supply and it becomes 0.125 gram.
Indexed, not backed
The index is a reference, not a claim on metal held for every token. Ethicoin's documents make that distinction, and so does this dossier.
Disclosure: Renomex and Ethicoin belong to the same network as IFRIT LEAKS. This dossier is based on what the projects publish and what anyone can check on the chain.