No. It is a testnet token. It cannot be sold to the issuer, redeemed for dollars, or converted into mainnet MDLR.

The design's reserve is gold with its price hedged. A limited mainnet is planned to start with PAXG or XAUT, gold tokens from other issuers, and to move to MGLD, a token for allocated bars, once that bar pool has two clean monthly attestations. The testnet is backed by MockXAU, which is not gold. No gold is held for testnet MDLR.

Because a token that owes a dollar while holding gold is a bet on gold. Holding gold and an equal short gold position leaves a reserve whose dollar value does not move with the gold price.

On testnet the treasury has deposited more MockXAU into the reserve than the supply needs. A ratio above target is extra buffer, not an error, and it is shown as it is rather than trimmed to look tidy. Until the statement split the hedge into margin and profit or loss, the ratio also counted the hedge margin, which overstated it.

No. The token has no freeze, blacklist, pause or seize function, and it cannot be upgraded to add one. What the issuer can do is pause new minting, and on mainnet it will have to refuse to mint or redeem for anyone who fails screening.

The controller refuses a mint when minting is paused, the price is unavailable, the proof of reserves is stale, the daily cap is full, or the mint would push the collateral ratio below 1.02. The get page decodes the exact reason.

The reserve never holds them and the mint and redeem loop never uses them. Platforms that accept USDC or USDT deposits convert them into MDLR at their own edge, one way. Two of the price sources are quoted from markets that trade against USDT; that is a price input only. The hedge is the exception to name: on testnet its margin is testnet USDC. That margin is issuer capital, not reserve, and only the hedge's profit or loss is counted. Whether the mainnet hedge uses stablecoin margin is an open decision, set out on the risks page.

There is no date. A limited mainnet needs counsel's opinions on an offshore structure, a decided hedge, a capital plan, an independent audit and a written wind-down plan, and it would be attested monthly from the first month. MDLR would not be a licensed stablecoin, and it would not be offered in the United States, the European Union, Hong Kong or the United Arab Emirates. Each is a condition, not a formality. The hedge is still a decision because no venue outside the group accepts gold as margin; the risks page sets out the options.

To the treasury account. Mint and redeem fees are 0.10% each on testnet, read live on the fees page.

Yes. The verify page walks through reading the latest epoch, recomputing supply and holdings, and hashing the statement.

Minting is refused. Below 1.00, each redemption is paid its pro rata share: the amount after the fee times the ratio, never more than one dollar per MDLR, so no holder gains by leaving first. The issuer's policy is a public notice and a capital call at once; if the ratio stays below the 1.02 floor for 24 hours, the issuer must restore it to 1.08 within 72 hours or begin an orderly wind-down.

No. MDLR pays no interest, yield or reward on balances. Under the issuer's policy, funding received by the hedge stays in the reserve and builds the buffer; only above a ratio of 1.12 is it swept to the issuer's treasury. It is never paid to holders.

A mint at par adds the same value to the reserve and to supply, so it pulls the ratio toward 1.00. Minting stops at the 1.02 floor, which leaves room for the reserve less 1.02 times supply, divided by 0.02. A reserve of 1,100,000 dollars against a supply of 1,000,000 leaves room for 4,000,000 more MDLR. More room needs more issuer capital. The reserves page shows the room left as mint capacity.

No. It aims to be worth one US dollar, but its reserve is gold and a hedge, which no stablecoin regime reviewed accepts as a reserve, so it is not a licensed stablecoin and cannot become one. It is a synthetic dollar, planned to be issued offshore, not offered in the United States, the European Union, Hong Kong or the United Arab Emirates, and not marketed to retail customers in Singapore.