Hello everyone,
I would like to draw attention to the latest news regarding commodity-linked Real World Assets on the Ethereum ecosystem.
Tether recently unveiled the “Alloy” project, creating a new class of collateralised assets backed by the Tether Gold token, aka XAUt .
This is the case with the aUSDT token, a new stablecoin pegged to the dollar, and backed by XAUt, which was recently born.
In anticipation of other assets supported by Tether Gold, XAUt could gain new market shares and become a much more important token in the medium - long term for collateralisation reasons.
This idea is reinforced by the volume chart on Coinmarketcap, which shows that from a very slow and perhaps not very encouraging start, by the end of 2023 trading volumes on XAUt had never again fallen below $1 million per day, maintaining an average of around $3-4 M per day.
In the last three days, moreover, volumes have gone beyond $12M, and even today, which is Saturday, this trend does not seem to stop.
A steady growth, also in terms of marketcap, from $200M at the beginning of 2023 to almost $600M today.
It is true that the token is traded mainly in the CEX sphere, but it is also true that the offer of services in the DEX sphere has been scarce (this is probably due to its slow start: few volumes = few services).
Considering the idea behind MetalSwap’s Hedging Contracts, I foresee that sooner or later there will also be a use-case to consider adding XAUt to one of the most important assets to hedge in the ecosystem.
What do you think would be the best way to go about this, anticipating the upcoming market?
I would like to gather in this thread your opinions in full brainstorming, also considering the interesting topic that Tizswa ( Exploring Comtech Gold Integration ) has opened on this same forum regarding Comtech Gold.
Let’s talk! 