Flowra and Korea Gold Exchange Digital Asset Company KorDA have signed a 12-month memorandum of understanding to assess the feasibility of introducing gold-backed digital assets into the Solana validator infrastructure. The focus of the discussion between the two parties was whether it would be possible to use KGLD as collateral to support the acquisition of SOL, and then delegate the related SOL to qualified Solana validators.
KGLD is intended to serve as collateral support for SOL.
According to the assumptions disclosed by both parties, KGLD is held or managed by KorDA or its authorized affiliates. This asset will not be directly involved in the operation of verifiers but will be used as collateral to support a proposed SOL entrusted arrangement.
Under this model, both parties will assess the source of SOL. Potential candidates include Solana Foundation, exchanges, institutional investors, lending providers, and other large holders of SOL. The obtained SOL can be incorporated into a plan named Flowra - KorDA Delegation Program ( FKDP ) in the future, and will be allocated to qualified verifiers.
This means that the uses of tokenized gold are no longer limited to on-chain holding or trading, but may further extend to scenarios related to the operation of blockchain networks. However, both parties have also made it clear that this structure has not yet been implemented, and KGLD is not currently being used as collateral for SOL.
The division of labor between the two parties focuses on the operation of verifiers.
According to the current plan, Flowra will be responsible for the infrastructure related to Solana, including Open Orderflow Auction ( OOA ), Programmable Block Policy ( PBP ), and Block Engine technology. KorDA will be in charge of verifier operations, including servers, monitoring, and key management.
Both parties also plan to establish criteria for verifier screening, SOL allocation, and profit distribution. Relevant sources of income may include staking rewards, block rewards, and MEV tips.
To reduce the risk of asset isolation, both parties stated that if a mortgage structure is subsequently adopted, the related collateral will be separated from the Flowra's own assets and will be held by an independent qualified custodian, through custodial arrangements, or in multi-signature wallets. Flowra will not directly custody this portion of the collateral.
The plan is still in the evaluation stage.
This memorandum was signed in Seoul with an initial term of 12 months. During the evaluation period, both parties will continue to review the transaction structure, potential partners, as well as the legal and regulatory conditions required to initiate the commissioning plan.
At present, any arrangement that uses KGLD as collateral, as well as the methods for obtaining and entrusting SOL, still require due diligence, regulatory review, and the signing of separate formal agreements. In other words, this cooperation is currently still in the stage of scheme demonstration.
Additional information:KorDA is associated with ITCEN Group and mainly develops blockchain solutions related to the tokenization of precious metals. If this plan progresses further and the tokenization of gold is combined with the infrastructure of public chain validators, it could become another application direction for RWA beyond on-chain finance.
