History of XAUT Coin
The history of XAUT is the
history of Tether Gold, a digital asset designed to represent ownership
of physical gold. Here is a summary of its background and key features: Launch and Purpose Launch Date: XAUT was launched in January
2020 by TG Commodities Limited, a subsidiary of Tether Limited (the company
behind the USDT stablecoin). Core Goal: To bridge the traditional asset
of physical gold with the efficiency and accessibility of blockchain technology.
It aims to provide investors with a stable, secure, and easy way to own gold
without the drawbacks of physical storage. What XAUT Represents Pegging: Each XAUT token is backed 1:1 by one
fine troy ounce of physical gold. Physical Backing: The gold bars
meet the London Bullion Market Association (LBMA) Good Delivery standard
and are stored in secure vaults in Switzerland. Ownership: Token
holders have direct, undivided ownership rights to the specific gold bar(s)
associated with their tokens. This gold is "allocated" and
identifiable with a unique serial number, purity, and weight. Redemption:
Large holders (meeting a minimum threshold, typically one full gold bar,
approximately 400 ounces) have the option to redeem their XAUT for the actual
physical gold. Technology and Innovation Blockchain Integration: XAUT is issued on multiple
blockchains, including Ethereum (as an ERC-20 token) and TRON (as a
TRC-20 token). Fractional Ownership: XAUT can be divided into
increments as small as $0.000001$ fine troy ounce, significantly lowering the
barrier to entry for gold investment compared to buying physical bars. Accessibility:
Unlike traditional gold markets, XAUT can be traded 24/7, 365 days a year
on cryptocurrency exchanges, allowing for instant transfers globally. Cost
Efficiency: It eliminates the high storage and transportation costs
typically associated with physical gold, charging only a one-time
issuance/redemption fee (typically 0.25% at the time of purchase or redemption
from the issuer). In essence, XAUT is a relatively new asset that leverages the
stability of a time-honored store of value (gold) with the modern benefits of
blockchain (liquidity, divisibility, and easy transfer).