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Fixed Rules Versus Fund Giants: How Ethicoin Frames Its Challenge to BlackRock-Style Finance
NEW YORK — Ethicoin pitches itself as the opposite of managed, institution-run money: a token with a supply locked at launch, no fees on transfers and a published formula tying each coin to a gold reference.
Debates about who should control the future of digital money often pit large asset managers such as BlackRock against open, rule-based systems. Ethicoin (ETHIC+) places itself firmly in the second camp, arguing that its value rules are written into code rather than set by any committee.
Rules that cannot be rewritten
The token lives on RichX Chain as an RXC-20 contract at 0x7023Bb290be415b05491bBBaa45f4D15e4407E46. According to the project's white paper, the full supply of 1,000,000,000,000 ETHIC+ was produced in a single step when the contract went live.
The contract has no function for creating new tokens and none for destroying itself. In other words, nobody can quietly expand the supply later, which is the central point of contrast the project draws with discretionary finance.
Where the white paper fits in
The reference document is the Ethicoin (ETHIC+) White Paper (Final Edition, 4 September 2026). It sets out 9 decimal places for the token and a 0% fee on every transfer, so a payment of 1,000 ETHIC+ arrives as exactly 1,000 ETHIC+.
It also describes support for EIP-2612 permits, which let holders approve transfers by signature without first spending gas.
A gold link anyone can check
Instead of relying on a manager's valuation, Ethicoin publishes its gold reference as arithmetic. Grams per token equal 90,000,000,000 divided by circulating supply, and circulating supply is totalSupply() minus the remediation balance.
The indexed value then takes grams per token, divides by 31.1034768 and multiplies by the XAU/USD gold price. Because any holder may burn tokens and none can be minted back, each burn lifts the gold weight assigned to every remaining coin.
Purpose over pure speculation
The project sets aside 100,000,000,000 ETHIC+, or 10% of supply, for cleaning up the Pra, Ankobra and Birim rivers in Ghana, which have been harmed by unlicensed gold mining known as galamsey. It says each allocation can be traced on RichXScan.
Controls and running costs
Administration is split between an Owner key and a Guardian key held on separate hardware, with a 48-hour timelock. A per-transaction cap of 1,000,000,000 ETHIC+, equal to 0.1% of supply, limits the size of any single move.
Fees on the network are paid in RichX Coin (RICHX), the chain's native asset, at 1 gwei, which works out to 0.000021 RICHX per transfer. Blocks settle under QBFT Proof of Authority with five-second finality.
For reference, the project lists its verification details as RichX Chain (Chain ID #20260618), ETHIC+ contract 0x7023Bb290be415b05491bBBaa45f4D15e4407E46, block 0xaa682 and transaction 0xc9ac198b8df8fbea20260618.
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Ethicoin's Fixed-Supply Design: What the White Paper Says About ETHIC+
Five Questions About Ethicoin: Supply, Gold Index and River Clean-Up Explained
Phone-Based Mining Comes to RichX Chain as Bitcoin RXC Joins Gold-Indexed Ethicoin
Ethicoin's 'One World, One Token' Plan: A Single Fixed Supply, No Fees and a Gold Formula