XAU₮
Tether Gold is a centralised stablecoin, denominated in Fine Troy Ounces of Gold, that represents the ownership of Physical Gold.
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Tether Gold is a centralised stablecoin, denominated in Fine Troy Ounces of Gold, that represents the ownership of Physical Gold.
Last updated
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Tether Gold is a centralised stablecoin, denominated in Fine Troy Ounces of Gold, that represents the ownership of Physical Gold.
Each unit of Tether Gold is intended to represent ownership of one fine troy ounce of physical gold stored in a Swiss vault on behalf of the Tether Gold token holders. This provides a way for cryptocurrency users to gain exposure to the value of gold without physically owning or storing the precious metal.
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Ethereum
XAU₮ tokens deployed on Ethereum are the only collateral source currently accepted by Vaults.
In order for verified users to be able to mint aUSD₮, they need to be able to provide XAU₮ tokens as collateral to the Vault. Acquiring XAU₮ tokens is simple, they can be bought on multiple centralised exchanges or directly from the issuers of Tether Gold tokens. When a user opens a position, its XAU₮ tokens are transferred to the Vault, thanks to a smart contract interaction.
Note: Because of the way the EVM works, each address interacting with the smart contracts needs first to approve XAU₮ spending. More information on token approval and spending can be found . The XAU₮ pricing action is executed through the Oracle, a Tether in house built Oracle that brings on chain the value to be used for Tether Gold tokens.
