RAAC Partners I-ON Digital for $200M Tokenized Gold Initiative
RAAC, a decentralized Real World Asset (RWA) lending protocol, formed a partnership with I-ON Digital Corp to issue $200 million in tokenized gold. This move enhances RAAC's position among the top 15 RWA protocols by total value locked (TVL) and paves the way for launching a gold-backed stablecoin.
- The collaboration involves deploying gold-backed tokens in DeFi, with an initial issuance of $200 million.
- RAAC plans to launch pmUSD, a stablecoin collateralized by tokenized assets like gold and real estate.
- I-ON Digital will invest up to $1 million in RAAC as a founding partner of its RWA open finance ecosystem.
Robinhood CEO Vlad Tenev commented on potential growth in the RWA sector at the Token 2049 conference, suggesting that RWA adoption could increase similarly to stablecoins. Total Value Locked (TVL) in active RWA protocols has exceeded $32 billion.
The Pepe Node presale is gaining attention, offering high staking rewards. It has raised $1.16 million towards its $1.3 million target, with participation available through their official website.