đ„Tether introduces Alloy (aUSDâź), a stablecoin pegged to the U.S. dollar but backed by Tether Gold (XAUâź)! đ This digital asset combines the stability of the dollar with the value-preserving characteristics of gold. It's minted using Ethereum Virtual Machine (EVM)-compatible smart contracts, ensuring smooth integration within the Ethereum ecosystem. đ
Users can mint aUSDâź by depositing XAUâź into a smart contract, or trade it on exchanges like Bitfinex. Fees apply for minting, returning, and liquidating aUSDâź. đ°
The Alloy system utilizes Vaults, Ethereum-compatible smart contracts, for minting and managing aUSDâź. These Vaults facilitate independent and permissionless verification of the XAUâź collateral backing aUSDâź circulation. đŠ
aUSDâź offers stability through its dollar peg and gold backing, and transparency through auditable smart contracts. It's a resilient alternative to the traditional banking system, providing investors with stability, diversity, and passive income opportunities. đ
What are your thoughts on this new stablecoin? Share in the comments! đ