Tether Gold

What is Tether Gold (XAUT)?

Tether Gold (XAUT) is ERK-20 standard token. It functions like a stablecoin – a digital asset whose value is tied to the value of a tangible asset, such as fiat currencies or precious metals. In this case, The price of Tether Gold is tied to the price of gold. Specifically, one XAUT has the same value as one ounce of London Good Delivery gold bar.

Who founded Tether Gold?

Tether Gold was developed Tether Limitedcompany founded in 2014. The project is based on the concept asset-linked cryptocurrencies this was established by J.R. Willett in his Tether white paper. Here he explored the idea of ​​creating new cryptocurrencies based on the Bitcoin blockchain.

One of the biggest benefits of tokenized gold is ease of trading. Although gold is a very valuable commodity, it is difficult to store and sell. Gold bars are often stored in specialized vaults and require the owner to cover insurance and storage costs. It is often sold as shares, making it difficult for small traders to acquire.

XAUT aims to solve this problem and make gold ownership more accessible. by providing digital tokens corresponding to tangible assets. Users are not required to purchase large quantities of gold or take full responsibility for storing it.

In addition to Tether Gold, the company is also known for issuing stablecoins backed by fiat currencies. The most recognizable of them is Tether (USDT), a stablecoin backed by the US dollar. It is considered one of the largest stablecoins in the crypto industry. In theory, the price of Tether Gold per Tether trades the same as the price of gold per US dollar.

XAUT was officially launched in January 2020 and has been backed by gold since day one. As a stablecoin, it did not have a pre-sale or initial coin offering. Tether Gold coins are not issued directly by Tether Limited, but by TG Commodities Limiteda company engaged in the wholesale trade of metals and metal ores.

Gold bars to which the network links its digital assets, stored in a secure storage facility in Switzerland. XAUT price is based on standardized calculations given in troy ounces. One troy ounce is equivalent to approximately 31 grams or approximately 1.097 ounces.

Although Tether Gold was built on TRON networkit is also supported by other blockchain ecosystems including Ethereum and EOS.

What are the uses of Tether Gold?

The price of XAUT is linked to the price of gold. Tether Gold Token has no maximum stock because gold has high liquidity. Gold is considered low volatility asset in traditional markets because it maintains a relatively stable value. By default, Tether Gold, like many other stablecoins, is not as volatile as other crypto assets such as Bitcoin or Ethereum.

The value shown in the charts reflects the value of the tangible asset. To ensure uniform distribution, it was found that the price of XAUT for one token is equal to one ounce of gold from London Good Delivery gold bullion. Each gold bar used by AUXT is tied to a specific address on the chain.

On the market, AUXT tokens can be traded like any other cryptocurrency asset. As a result of trading, ownership of physical gold is transferred between wallets. You can also buy enough AUXT for your own use. full gold bar and exchange it for a real asset. During this process, wallet addresses are moved to unused troy ounces in storage.

Tether Gold Offers zero storage fee. These are typically fees that the client must cover for the safe storage of assets such as precious metals and act as insurance. Users can withdraw the equivalent of the XAUT they purchased in Switzerland.