XAUt Token (XAU₮ Token): On-chain state mapping: Existence
Investment View
XAUt is an overwhelming leader in the tokenized gold market, recording a TVL of approximately $3.3 billion. Centralization Risk: The storage location and management entity of physical gold is concentrated in a specific region and a specific corporation. Overall evaluation: Tether Gold is a system that has found a very practical balance between the trust of real assets and the efficiency of blockchain.
The “Price” item in Step 9 is not interpreted as an investment outlook, but as the net asset value NAV and gap management conditions based on 1 troy ounce of gold that XAU₮ must track. Tether Gold (XAU₮) is a RWA product that seeks to express ownership of 1 troy ounce of gold as a blockchain token. As of the 2022 white paper,
Investment View
In particular, according to official figures at the end of 2025, gold reserves exceeded XAU₮ in circulation, and the official announcement explained that XAU₮ accounts for approximately 60% of the gold-based stablecoin market. Therefore, the core risk of