Stablecoin protocol USDT0 gives tokenized gold a crypto -native spin, aimed at the oldest value of the world that is compatible with decentralized financial applications (Defi).
The Platform introduces the Xaut0 token, which builds on Tether Gold (Xaut) only integrates an Omnichain architecture to expand its usefulness for trade and as collateral on loan protocols. Token uses Layerzero’s Omnichain Fungible token (OFT) as standard to seamlessly move over block chains without trusting bridges or wraps.
Tether’s Xaut corresponds to one Troy ounce of gold stored in a Swiss safe, coupled to a specific bar that meets London Bullion Market Association standards. It is also interchangeable for physical gold.
The new offer follows the first range of USDT0 of the protocol, a uniform liquidity layer for Tether’s USDT Stablecoin that is available on ten block chains, including Arbitrum, Optimism and Kraak’s Ink. Since the launch earlier this year, it has been built up to a circulating stock of $ 1.3 billion.
“I am a big bitcoin
BTC$ 104,145,72
Guy himself, “Lorenzo R., co-founder of USDT0, Coindesk told an interview.” But I also like gold and would like to have an easier and easier way to acquire it and actually use it in my daily life. “
“We are still very early when it comes to the actual integration of real assets and raw materials in defi-protocols,” he added.
The first implementation of the token will take place on the Open Network (TON), the blockchain Powering Popular Messaging app Telegram’s Crypto functions. Telegram users can buy and use the gold-supported token directly within wallet in telegram, which makes it possible to introduce tokenized assets to millions of users. Ton was originally developed by Telegram and then continued as an independent operation after sitting down a lawsuit by the US Securities and Exchange Commission (SEC) in 2020.
A broader promotional rollout from Xaut0 to more block chains is planned for Q3 this year.
“There are several chains that we are going to launch on, and some of these chains will have more Defi -spin,” said Lorenzo R.
