Gold
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24 August 2023
DeFi platform Youves launches synthetic Gold tracker token
uXAU is a synthetic token, which means that the value of gold is tracked by the token and the token itself is not backed by any actual gold. The value is backed by other collateral, in this case Tezos-based Tether (USDt). USDT is tethered to the US dollar, the idea in theory being that you can trade 1 Tether for 1 US dollar, regardless of market conditions.
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