Bybit to Facilitate XAUT Transactions on Mantle, Enhancing Onchain Gold Accessibility
Bybit, one of the leading cryptocurrency exchanges globally, is set to expand its services by integrating XAUT (Tether Gold) deposits and withdrawals on the Mantle network. This strategic move is designed to enhance user access to tokenized gold and improve the cross-chain asset functionality within the Mantle ecosystem.
XAUT represents tokenized ownership of physical gold, with one token equating to one troy ounce of gold backed by secure vault holdings. As the world's leading stablecoin issuer, Tether's foray into gold-backed assets signifies a growing interest among investors seeking stability during uncertain market conditions.
With this deployment on Mantle, XAUT will be part of a burgeoning ecosystem focused on real-world assets (RWAs), which are becoming increasingly important as users look for reliable investment alternatives. This integration provides a seamless platform for managing gold-backed assets both efficiently and securely.
The adoption of XAUT on Mantle exemplifies a broader trend aimed at integrating traditional assets within the decentralized finance (DeFi) space. Mantle’s modular Layer-2 architecture is constructed to ensure lower transaction costs and faster processing compared to the Ethereum mainnet. This scalability and efficiency make it an ideal environment for RWAs, allowing users enhanced control over their gold-backed holdings.
Furthermore, the increased accessibility to XAUT means users can partake in various decentralized applications while utilizing Bybit's trusted trading and custody services. This functionality is expected to bolster liquidity and stimulate a wider range of trading, lending, and yield-generating applications involving gold-backed assets.
Mantle's long-term objective is to serve as a pivotal execution and distribution layer for RWAs. As more investors shift towards yield-generating and asset-backed products, the demand for an efficient infrastructure capable of accommodating seamless transfers across multiple DeFi protocols will surge. The current economic landscape, marked by macroeconomic challenges, has driven renewed interest in gold, reflecting its stability and liquidity as a preferred asset class.
Joshua Cheong, Head of Product at Mantle, expressed, "Real-world assets are central to our strategy, particularly those with established global demand. XAUT's integration reinforces the utility of tokenized assets in a cost-effective manner."
1. Gold-Backed Stability: Each XAUT token is directly backed by physical gold in reserve.
2. Reduced Transaction Costs: The innovative Layer-2 infrastructure of Mantle significantly cuts down on transaction fees, making it more economical.
3. Faster Transfer and Settlement: Enhanced transaction finality creates a streamlined experience for deposits and withdrawals.
4. Greater DeFi Accessibility: XAUT will be deployable across Mantle-based protocols, unlocking new avenues that merge stability from traditional assets with on-chain liquidity.
The introduction of XAUT on Mantle by Bybit represents a crucial juncture in blending traditional assets with the decentralized finance sphere. By incorporating Tether's tokenized gold and Mantle's infrastructure, this integration signifies a major step toward developing accessible, cost-efficient, and liquid avenues for managing on-chain assets. As this trend progresses, users can look forward to a future where on-chain markets for real-world assets are increasingly mainstream, providing a unique blend of stability and efficiency in the evolving financial landscape.
For further exploration on the integration of XAUT, traders and investors are encouraged to seek out Bybit’s official resources. Stay abreast of innovations in the decentralized finance space and how they can impact your investment strategies.
What is Tether Gold (XAUT)?
XAUT represents tokenized ownership of physical gold, with one token equating to one troy ounce of gold backed by secure vault holdings. As the world's leading stablecoin issuer, Tether's foray into gold-backed assets signifies a growing interest among investors seeking stability during uncertain market conditions.
With this deployment on Mantle, XAUT will be part of a burgeoning ecosystem focused on real-world assets (RWAs), which are becoming increasingly important as users look for reliable investment alternatives. This integration provides a seamless platform for managing gold-backed assets both efficiently and securely.
Merging Traditional and Decentralized Finance
The adoption of XAUT on Mantle exemplifies a broader trend aimed at integrating traditional assets within the decentralized finance (DeFi) space. Mantle’s modular Layer-2 architecture is constructed to ensure lower transaction costs and faster processing compared to the Ethereum mainnet. This scalability and efficiency make it an ideal environment for RWAs, allowing users enhanced control over their gold-backed holdings.
Furthermore, the increased accessibility to XAUT means users can partake in various decentralized applications while utilizing Bybit's trusted trading and custody services. This functionality is expected to bolster liquidity and stimulate a wider range of trading, lending, and yield-generating applications involving gold-backed assets.
Supporting Real-World Asset Distribution
Mantle's long-term objective is to serve as a pivotal execution and distribution layer for RWAs. As more investors shift towards yield-generating and asset-backed products, the demand for an efficient infrastructure capable of accommodating seamless transfers across multiple DeFi protocols will surge. The current economic landscape, marked by macroeconomic challenges, has driven renewed interest in gold, reflecting its stability and liquidity as a preferred asset class.
Joshua Cheong, Head of Product at Mantle, expressed, "Real-world assets are central to our strategy, particularly those with established global demand. XAUT's integration reinforces the utility of tokenized assets in a cost-effective manner."
Key Advantages of XAUT on Mantle
1. Gold-Backed Stability: Each XAUT token is directly backed by physical gold in reserve.
2. Reduced Transaction Costs: The innovative Layer-2 infrastructure of Mantle significantly cuts down on transaction fees, making it more economical.
3. Faster Transfer and Settlement: Enhanced transaction finality creates a streamlined experience for deposits and withdrawals.
4. Greater DeFi Accessibility: XAUT will be deployable across Mantle-based protocols, unlocking new avenues that merge stability from traditional assets with on-chain liquidity.
Conclusion
The introduction of XAUT on Mantle by Bybit represents a crucial juncture in blending traditional assets with the decentralized finance sphere. By incorporating Tether's tokenized gold and Mantle's infrastructure, this integration signifies a major step toward developing accessible, cost-efficient, and liquid avenues for managing on-chain assets. As this trend progresses, users can look forward to a future where on-chain markets for real-world assets are increasingly mainstream, providing a unique blend of stability and efficiency in the evolving financial landscape.
For further exploration on the integration of XAUT, traders and investors are encouraged to seek out Bybit’s official resources. Stay abreast of innovations in the decentralized finance space and how they can impact your investment strategies.
Topics Financial Services & Investing）
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