USDT0 Launches XAUT0 Token to Integrate Gold with DeFi Applications
The stablecoin protocol USDT0 is launching a tokenized gold product called XAUT0, enhancing compatibility with decentralized finance (DeFi) applications. Key points include:
- XAUT0 builds on Tether Gold (XAUT) and utilizes an omnichain architecture for increased trading and lending utility.
- The token leverages LayerZero’s Omnichain Fungible Token (OFT) standard, enabling movement across blockchains without bridges or wrappers.
- XAUT corresponds to one troy ounce of gold stored in a Swiss vault and is redeemable for physical gold.
- USDT0 previously launched a liquidity layer for Tether's USDT stablecoin, achieving a $1.3 billion circulating supply since its introduction.
- XAUT0 will first deploy on The Open Network (TON), allowing Telegram users to buy and use the token within the app.
- A broader rollout to additional blockchains is planned for Q3 2023.