Tether Gold

Tether Gold

XAUT
$2,353.91%0.06

Key Metrics

Price$2,353.91
Real Volume (24H)$3,087,476.74
Marketcap$580,295,124.67
Fully Diluted ValuationN/A
ATH$2,096.29
ATH Date5/19/2021, 3:57:30 PM
ATL$1,447.84
ATL Date3/19/2020, 4:45:41 PM
Circulating Supply247K
Total Supply247K
Popularity Rank126
Chart
What is Tether Gold?

Tether Gold (XAUT) is a digital asset that seeks to transform the value of gold into a digital token on the Ethereum blockchain. The platform was launched in January 2020 by Tether Gold Commodities Limited, a product of the Tether ecosystem. Its primary goal is to provide users with the opportunity to own small, highly transferable amounts of digitally allocated gold with relatively low fees.

The introduction of Tether Gold represents a significant step forward in the evolution of currency. Because gold is a more complex asset than traditional currencies, the benefits of a gold-backed stablecoin are much greater than those of a traditionally backed currency. Tether Gold aims to provide users with access to an asset with scarcity and price stability comparable to gold, but with the transactional utility of a digital token.

Tether Gold's native token is XAUT, an ERC20 token that follows a set of rules used by other tokens in the Ethereum ecosystem. Each XAUT token is equivalent to one troy fine ounce of London Good Delivery gold held in a Swiss vault. The token can be fractionated up to six decimal places, making it ideal for small transactions.

When an on-chain transaction moves an XAUT token to another on-chain address, Tether Gold reallocates the physical gold linked to the XAUT token held in each address. The aim of this process is to minimize the number of physical gold bars associated with each address holding XAUT. The reallocation takes place instantaneously, so each token can always represent ownership of physical gold on a specific gold bar.

Tether Gold's whitepaper was published on January 20, 2022. JL Van de Velde leads Tether as CEO.

In conclusion, Tether Gold (XAUT) is a unique digital asset that has been developed to make gold accessible to everyone, regardless of their financial background or geographic location. Its introduction represents a significant step forward in the evolution of currency, offering users the opportunity to own small amounts of digitally allocated gold with low fees. With the Tether Gold platform, gold trading has never been more accessible or straightforward, and it is sure to attract a new generation of investors looking to diversify their portfolios.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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