USDT0, a popular stablecoin protocol, has introduced an exclusive gold-backed token on the well-known decentralized blockchain platform TON Network. As per USDT0, the exclusive gold-backed token $XAUt0 is now live on The Open Network (TON) while expecting broader expansion on the DeFi-focused blockchains. The platform took to its official X account to reveal this development.
USDT0 Announces Latest Gold-Backed $XAUt0 Token’s Launch on TON
As USDT0 mentioned, the $XAUt0 is an exclusive crypto token supported by physical gold, the famous time-tested store of value. The token denotes a cutting-edge method to modernize gold for programmable finance. Hence, each $XAUt0 token is supported by physical gold’s 1 troy ounce. The gold backing the asset is reportedly stored in comprehensively protected Swiss vaults under certification of the London Bullion Market Association.
$XAUt0 reportedly integrates Omnichain Fungible token (OFT) standard that LayerZero has developed. It permits seamless token movement between diverse chains without depending on synthetic assets or bridges, guaranteeing true ownership and complete composability within the Web3 ecosystem. USDT0’s co-founder Lorenzo R. asserted that this endeavor enhances accessibility and usability of gold as a trusted value storage asset in the decentralized ecosystem.
Merging Gold’s Reliable Value Storage Capability with DeFi Programmability and Accessibility
According to USDT0, the XAUt0 combines gold’s dependable value storage functionality with the DeFi programmability and flexibility. The project also provides all the benefits delivered by Tether Gold ($XAUt). They take into account self-custody, 24/7 trading, physical redemption, and fractional ownership. Overall, with XAUt0, USDT0 is advancing its endeavors to offer real-world, liquid, and frictionless assets across chains.
