Talking is silver, but building is golden - Tezos, are you ready for gold. Youves.
22 Aug 2023, 12:37
Talking is silver, but building is golden - Tezos, are you ready for gold? Youves.com today launched the first gold price tracker token on Tezos, uXAU. uXAU allows holders and minters to get exposure to gold. This newest engine from youves is powered by a price feed served by oracles built with Acurast.io.
Another novelty launched alongside the uXAU engine is the uXAU / uUSD Target Flat Curve. This is a variant of the previous youves flat curve dexes, which allows liquidity to be concentrated around the global price of gold (XAU). The off-chain price of a troy ounce of gold (XAU) is served by oracles built on the battle-proof technology of Acurast.io and will be set as the center of the flat curve of the Target Flat Curve contract.
Similar to the recently launched Youves Yield Pool for uXTZ/XTZ, liquidity providers in the uXAU/uUSD Target Flat Curve will receive interest rate payments from all uXAU engines as a reward for providing liquidity.
Note: uXAU tracks the global gold markets. These markets are closed during weekends and public holidays. The implementation of uXAU takes this into consideration and pauses minting, liquidations, and swaps when these markets are closed. Repayments (burns) of synthetic assets are always possible, even with closed markets.
uXAU can be minted with USDT collateral on app.youves.com. Alternatively, uXAU can be bought on the youves Target Flat Curve swap against uUSD.