Limitless and Everest Introduce $GEMS: A Revolutionary RWA Token Backed by $600M in Liquid Assets

In a significant development for the cryptocurrency and gemstone industries, Limitless has partnered with Everest to launch $GEMS, a pioneering Real World Asset (RWA) token backed by more than $600 million in liquid assets. This innovative initiative, set to debut in July 2024, promises to revolutionize the gemstone market by leveraging blockchain technology and introducing novel crypto-economic models.

The $GEMS token launch will see 20 million tokens made available to the public at an initial price of $1 per token. An additional 1 million tokens have been allocated for referrals and marketing efforts. The token will be exclusively accessible through the EverLaunch platform, designed to offer a user-friendly experience for individuals worldwide interested in participating in the gemstone market.

Bob Reid of Everest emphasized the significance of this launch, stating, ‘We are excited to introduce $GEMS, a groundbreaking RWA token backed by substantial liquid assets. This initiative not only enhances accessibility to the gemstone market but also leverages blockchain to address long-standing inefficiencies.’

The $GEMS token offers several key benefits to users. It facilitates the purchasing, cutting, and polishing of emeralds and alexandrites, providing direct access to the gemstone supply chain. Additionally, token holders will have the unique opportunity to participate in mine tours, offering firsthand experience of the gemstone mining process. The token also features attractive staking rewards, with users able to earn up to 20% through staking their $GEMS.

One of the most notable features of $GEMS is its refund policy. The token is backed by $600 million in liquid assets held in custody, allowing for a guaranteed refund of any unused $GEMS at a rate of $4 per token worth of ETH. This feature provides a level of security and liquidity rarely seen in the cryptocurrency space, especially for tokens tied to physical assets.

Matteo Rosetti, General Manager at Limitless, highlighted the transformative potential of $GEMS for the gemstone industry: ‘For centuries, the gemstone supply chain has seen markups ranging from 1,000% to 5,000%. By integrating blockchain technology with direct sourcing and crypto economics, we are disrupting this traditional model, offering substantial benefits to our users.’

The launch of $GEMS represents a significant step forward in the integration of blockchain technology with real-world assets. By providing a transparent, efficient, and accessible way for individuals to invest in and engage with the gemstone market, $GEMS has the potential to democratize access to an industry traditionally dominated by a small number of players.

The impact of this initiative could extend beyond the gemstone industry, serving as a model for how blockchain technology and cryptocurrencies can be used to tokenize and democratize access to other real-world assets. This could lead to increased liquidity and transparency in various markets, potentially transforming how we think about investment and ownership of physical assets.

As the launch date approaches, interested parties can find more information and participate in the public sale at The success of $GEMS could pave the way for similar initiatives in other industries, marking a new era in the convergence of traditional asset markets and blockchain technology.

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