tl;dr
Tether has launched Alloy, a tethered asset backed by Tether Gold (XAUT) to provide stability in the digital economy. Alloy introduces tethered assets that track the price of reference assets through over-collateralization and liquidity pools. Tether CEO Paolo Ardoino expressed enthusiasm for Alloy,...
Tether has launched Alloy, a tethered asset backed by Tether Gold (XAUT) to provide stability in the digital economy. Alloy introduces tethered assets that track the price of reference assets through over-collateralization and liquidity pools. Tether CEO Paolo Ardoino expressed enthusiasm for Alloy, which allows the creation of collateralized synthetic digital assets. Alloy enables the creation of different tethered assets with broader backing mechanics and is managed by Moon Gold NA, S.A. de C.V., and Moon Gold El Salvador, S.A. de C.V.
The first token in the Alloy lineup is aUSDT, over-collateralized by XAUT and supported by physical gold stored in Switzerland. Users can mint aUSDT by depositing XAUT through Ethereum-compatible smart contracts. This move aligns with the trend of real-world asset tokenization, particularly in commodity-backed tokens, with gold remaining the most popular commodity.
Tether's introduction of Alloy and aUSDT positions the company to take advantage of the growing real-world asset tokenization market. Tether, a prominent stablecoin issuer in the crypto industry, has announced the official launch of Alloy by Tether, a tethered asset backed by Tether Gold (XAUT). This new token aims to provide stability in the digital economy.
Alloy by Tether introduces a novel category of digital assets known as tethered assets. These assets track the price of reference assets through stabilization strategies like over-collateralization with liquid assets and secondary market liquidity pools. This approach provides consistent value and stability, advancing the real-world asset (RWA) tokenization sector.
Paolo Ardoino, CEO of Tether, expressed his enthusiasm for the new venture. He highlighted that while the stabilization mechanism differs from traditional options like USDT, this solution marks an exciting milestone.
Alloy by Tether also enables the creation of different tethered assets with broader backing mechanics, potentially including yield-bearing products. This technology provides institutions with a modern approach to asset management. It offers a secure, gold-backed digital asset that can be integrated into portfolios. Moon Gold NA, S.A. de C.V., and Moon Gold El Salvador, S.A. de C.V. will handle the issuance and management of Alloy by Tether. They will cater to different customer segments and regulatory requirements.
The first token in the Alloy by Tether lineup is aUSDT. This digital currency is designed to track the value of one US dollar. aUSDT distinguishes itself by its over-collateralization by XAUT, supported by physical gold stored in Switzerland. This combination offers users the stability of the US dollar backed by the value of gold. Users can create aUSDT tokens using XAUT as collateral. This setup allows users to engage in digital transactions, payments, and remittances with a currency that feels as familiar as the US dollar without selling their XAUT.
Currently, Alloy by Tether smart contracts operate on the Ethereum Mainnet. Users mint aUSDT by depositing XAUT through Ethereum-compatible smart contracts. The aUSDT smart contract tracks all collateral and minted tokens, using price oracles to constantly evaluate the mint-to-value (MTV) ratio.
This new development aligns with the growing trend of real-world asset tokenization. According to CoinGecko’s RWA Report 2024, commodity-backed tokens have hit $1.1 billion in market capitalization, with gold remaining the most popular commodity. Tokenized precious metals such as XAUT and PAX Gold (PAXG) make up 83% of the market cap of commodity-backed tokens. These tokens are backed by physical gold, offering a reliable store of value.
While commodity-backed tokens currently represent only 0.8% of the market cap of fiat-backed stablecoins, the potential for growth in this sector is significant. With the introduction of Alloy and aUSDT, Tether is positioning itself to take advantage of the expansion of the real-world asset tokenization market.
More about ZEEKR Intelligent Technology Holding Limited
ZEEKR Intelligent Technology Holding Limited, an investment holding company, engages in the research and development, production, commercialization, and sale of electric vehicles and batteries.
Sector: Technology
Industry: General
Support Level: None
Resistance Level: None
RSI: 0
Moving Average: 0
Bollinger Bands: 0
Breakout: None
Pattern: 0
Trend: 0
More about DR Horton Inc
D.R. Horton, Inc. is a home construction company incorporated in Delaware and headquartered in Arlington, Texas.
Industry: Real Estate & Construction
Sector: Operative Builders
Market Cap: 47,019,168,000
P/E Ratio: 9.74
EPS: 1.1
Earnings Per Share (EPS) Growth: 14.66%
52-Week High: 110.59
52-Week Low: 0.134
Average Volume: 37,062,902,000
Price to Earnings Growth (PEG) Ratio: 167.08
Price to Sales (P/S) Ratio: 0.289
Price to Book (P/B) Ratio: 0.142
More about Core Scientific Inc. Common Stock
Company: Core Scientific Inc. Common Stock
Description: Core Scientific, Inc. provides blockchain and artificial intelligence (AI) infrastructure services in the United States. The company is headquartered in Austin, Texas.
Sector: Technology
Industry: Services-Computer Processing & Data Preparation
Market Cap: 542,047,000
Dividend Yield: None
EPS: 1.323
P/E Ratio: -0.491
Volume: 502,400,000
Stock Price: 6.75
52 Week High: 0
52 Week Low: 0.171
More about Argo Blockchain PLC ADR
Argo Blockchain PLC ADR Analysis Argo Blockchain PLC ADR Technical Analysis Summary
Sector: FINANCE
Industry: FINANCE SERVICES
Volume: 74,453,000
Price Change: -0.6
Price Change (%) : 1.2
RSI (Relative Strength Index): -0.517
Market Cap: 56,134,000
EMA (Exponential Moving Average) 20: 1.17
EMA 50: -0.94
Bollinger Bands (20,2): 0.495
More about ASE Industrial Holding Co Ltd ADR
ASE Industrial Holding Co Ltd ADR Summary
Industry: Manufacturing, Semiconductors & Related Devices
Market Cap: $24.38 billion
Current Price: $22.58
PE Ratio: 5.2
EPS: 0.5
ROE: 271.43%
Dividend Yield: 0.0541
Volume: 583,826,276
Beta: 9.9
Net Income Margin: -1.9%
Operating Margin: 1.5%