Before any of the mechanics, one piece of arithmetic that you must have straight, because getting it wrong is the difference between a routine swap and a moment of genuine panic.
Before any of the mechanics, one piece of arithmetic that you must have straight, because getting it wrong is the difference between a routine swap and a moment of genuine panic.
One PAXG represents one troy ounce of gold. One GGBR represents one thousandth of a troy ounce.
They are both gold. They are denominated a thousand times apart. So when you swap, you are exchanging value for value, not token for token. One PAXG converts into roughly a thousand GGBR, not into one GGBR.
If you ever see a swap described as "1:1", it means the value is one to one, with no premium or discount applied. It does not mean one token for one token. Read the receiving amount on the screen before you confirm anything, and if it looks like you are receiving about a thousand times more tokens than you sent, that is correct and expected.
The conversion arithmetic, using round numbers for clarity. If gold is $4,600 an ounce, then PAXG trades near $4,600 and GGBR trades near $4.60. So:
1 PAXG at $4,600 converts to approximately 1,000 GGBR at $4.60.
In practice the exact ratio moves with each token's own market price, which can carry a small premium or discount to spot, so the quoted amount will be near a thousand rather than exactly a thousand. The number on your confirmation screen is the number that matters.
The two backing structures are also different, and that is a real consideration rather than a footnote. PAXG and XAUT are claims on refined bars in vaults. GGBR is backed by reserves still in the ground. We wrote out that difference honestly in Vaulted Gold vs In-Ground Gold, and it is worth reading before you convert rather than after.
You need a self-custody wallet that holds ERC-20 tokens on Ethereum. MetaMask is the most widely supported, and hardware wallets work through it for larger positions.
Three practical things before you start:
Hold ETH for gas. Every step here is an Ethereum transaction: approving a token, executing a swap, then staking. Each costs gas paid in ETH. Without an ETH balance nothing will execute regardless of how much gold you hold.
Expect to add GGBR manually. New tokens do not always appear automatically in a wallet. You may need to add it using the contract address, and the steps are on getting started.
Get the contract address from an official source only. Take it from the stGGBR product page or the site footer. Never from a search result, a direct message, or a screenshot someone sent you. This is the single most common way people lose funds in crypto, and it has nothing to do with the quality of the product.
Four routes exist and they are not equivalent.
On the OTC route. For anything beyond a small position, an OTC desk generally executes better than an on-chain pool, because it quotes you a price for the whole size rather than walking you up an order book. The reason this matters here specifically is the next point.
On slippage, and please take this seriously. GGBR's on-chain liquidity is thin relative to its market size. A large market order into a thin pool moves the price against you, and on a big enough order that cost can exceed several months of staking yield. The fix is mechanical: check the price impact figure the interface shows you before confirming, set a slippage limit rather than accepting the default, and split large orders or use the desk.
On centralised exchanges. They give you a fiat on-ramp, which the on-chain routes do not, at the cost of identity verification and jurisdiction limits. Several do not serve US clients. Check before you fund an account rather than after.
On a decentralised exchange, the sequence is always the same:
Then verify the balance landed. If GGBR does not display, add it manually using the official contract address.
Once you hold GGBR, staking is on the staking page.
The choice is between two shapes of product, and it is worth understanding before you click:
Liquid staking issues you stGGBR, a receipt token. Your stGGBR balance never changes, and its value grows against the underlying GGBR through the vault's exchange rate. There is no fixed term, but exits run through a withdrawal notice period, currently seven days, during which the position does not accrue. The full mechanic, and how to verify it on-chain, is in Liquid Gold Staking Explained.
Fixed-term staking locks your GGBR for a set period at a rate written into your position when you deposit. Current terms for each pool are on the staking page.
Either way, the sequence is connect wallet, approve the token, deposit. Each is a transaction and each costs gas.
Four costs, and only one of them is obvious:
You are changing backing structure, not just ticker. PAXG and XAUT are claims on allocated, serial-numbered bars in named vaults with published attestations. GGBR is backed by in-situ reserves held as certificates. If allocated vaulted metal is the reason you hold gold this way, converting moves you to a different structure, and you should make that choice deliberately rather than incidentally.
You are adding a counterparty when you stake. A bare gold token has no counterparty paying you, because nothing is paying you. A staked position earns because reserves are deployed through a credit arrangement, which means someone has to perform.
There is no insurance fund covering that. The whole risk picture is in Is Gold Staking Safe?.
Neither point is a reason not to proceed. Both are reasons to proceed knowingly.
Approximately one thousand, because PAXG represents a troy ounce and GGBR represents a thousandth of one. The exact figure depends on each token's market price at the time, so read the quoted receiving amount on the confirmation screen.
Because the value is being exchanged one for one, with no premium or discount applied. It does not mean one token for one token. The token counts differ by roughly a thousand times because the denominations do.
Not yet on StakeMyGold. Direct staking for both is on the roadmap. Today you convert to GGBR and stake that.
Through the StakeMyGold swap desk, on Uniswap, on several centralised exchanges including MEXC, BitMart and XT, or directly from Goldfish. Each route trades off convenience, verification requirements and execution quality.
Slippage is the difference between the price you expect and the price you get, caused by your order consuming available liquidity. It matters here because GGBR's on-chain market is thin, so a large order can move the price against you by more than several months of yield. Check the price impact figure and set a slippage limit.
Not for the on-chain routes, where you connect a wallet. Yes for centralised exchanges and for direct purchase from Goldfish.
An on-chain swap settles in minutes once confirmed. Adding a token to a wallet is instant. Routing through a centralised exchange takes as long as verification and withdrawal processing require, which can be days for a first-time account.
Add it manually using the official contract address, taken from the product page or site footer. The tokens are in your wallet either way; the wallet simply has not been told to display them.
Yes, subject to liquidity. If you are staked, you would first exit the staking position, which for the liquid vault means requesting a withdrawal and waiting out the notice period.
The mechanics of this swap are ordinary. Connect a wallet, hold ETH for gas, pick a route, read the numbers, approve, confirm, stake.
The one thing that is not ordinary is the denomination. A thousand-to-one difference in what each token represents means the token counts on your screen will look wrong if you are expecting them to match. They are supposed to look like that. Value in equals value out.
Get that straight before you start, take the contract address from an official page, and watch the price impact on anything larger than a small order. Everything else is routine.
This article is for informational purposes only and is not financial advice.
withdrawalDelay() and performanceFeeBps()| Token | PAXG | XAUT | GGBR |
|---|
| Represents | 1 troy ounce | 1 troy ounce | 1/1000 troy ounce |
| Backing | Allocated vaulted bars | Allocated vaulted bars | In-situ reserves, held as certificates |
| Approx. cost of one token | Price of an ounce | Price of an ounce | About a thousandth of that |
| Stakeable on StakeMyGold | Not yet, on the roadmap | Not yet, on the roadmap | Yes |
| Route | Best for | Watch out for |
|---|
| StakeMyGold swap desk | Larger orders, avoiding slippage | Terms and availability, check the swap page |
| Uniswap | Speed, no account, full self-custody | Slippage on thin liquidity. Set a limit and check the price impact |
| Centralised exchanges (MEXC, BitMart, XT) | Fiat on-ramps, familiar interface | Identity verification, jurisdiction restrictions, withdrawal fees |
| Goldfish direct purchase | Buying with stablecoins or fiat | Identity verification required |