The USDT0 Stablecoin protocol is giving the token gold a native cryptography, with the aim of making the world’s oldest value stores compatible with decentralized finance applications (Defi).
The platform is introducing the Token Xaut0, which is based on Gold Gold (Xaut) but integrates an omnichain architecture to expand its usefulness for trade and as a guarantee in loan protocols. The Token uses the Fungible Token standard (ODT) of Layerzero Omnichain to move perfectly through blockchains without depending on bridges or wraps.
Xaut de Tether corresponds to an ounce of Troy gold stored in a Swiss vault, linked to a specific bar that meets the standards of the London Bull Market Association. It can also be exchanged for physical gold.
The new offer follows the first offer of the USDT0 protocol, a unified liquidity layer for the Tether USDT stable that is available in ten blockchains, including arbitration, optimism and Kraken’s ink. Since its launch earlier this year, the Token shot at a circulating supply of $ 1.3 billion.
“I’m a great bitcoin
Guy himself, “Lorenzo R., co -founder of USDT0, told Coindesk in an interview.” But I also like gold and I would love to have an easier and more direct way to acquire and really be able to use it in my daily life. “
“We are still very early when it comes to the real integration of real world assets and products for defi protocols,” he added.
The first implementation of the Token will occur in Open Network (TON), the crypto characteristics of the Popular Blockchain messaging. Telegram users can buy and use the token backed by gold directly inside the wallet on Telegram, which can introduce the tokenized asset to millions of users. Ton was originally developed by Telegram, then continued as an independent operation after resolving a demand by the United States Stock Exchange and Securities Commission (SEC) in 2020.
A broader promotional deployment of Xaut0 to more blockchains is planned for the third quarter of this year.
“There are multiple chains that we are going to launch, and some of these chains will have more defi,” Lorenzo R.
