USDT0 and XAUt0, two cross-chain stablecoins developed by Everdawn Labs, were officially launched on the Polygon blockchain.
This integration allows USDT0 to be available on 12 networks, while XAUt0 just launched on its second platform after TON, expanding multi-chain trading and liquidity capabilities.
MAIN CONTENT
USDT0 and XAUt0 are cross-chain stablecoins based on LayerZero's Omnichain Fungible Token technology.
USDT0 currently supports 12 blockchain networks, including the newly added Polygon.
XAUt0 has just been deployed on Polygon, which is the second network after TON.
What are USDT0 and XAUt0? How are they different from traditional USDT and XAUT?
USDT0 and XAUt0 are the complete multi-chain versions of USDT and XAUT, developed by Everdawn Labs using LayerZero’s Omnichain Fungible Token (OFT).
This allows these tokens not only to act as fixed-value stablecoins but also to enable flexible liquidity movement across various blockchains, enhancing availability compared to traditional versions limited to a single chain.
What benefits does the launch on Polygon bring for USDT0 and XAUt0?
Integrating USDT0 and XAUt0 on Polygon expands the usage and interaction of tokens on a popular blockchain network with low transaction costs and fast processing speeds.
Polygon is one of the widely used blockchain platforms, enabling USDT0 to be available on 12 different networks, facilitating multi-chain and multi-application trading. It is also the second network where XAUt0 has been deployed after TON, expanding the ecosystem for gold-backed stablecoins.
What is LayerZero’s Omnichain Fungible Token (OFT) technology and how does it affect USDT0 and XAUt0?
LayerZero’s OFT is a cross-chain technology that allows digital assets to operate smoothly across multiple blockchains without costly conversions.
The OFT application allows USDT0 and XAUt0 to operate as a single token across multiple networks, enhancing liquidity efficiency and user experience. This technology is seen as an advanced foundation for multi-chain stablecoin projects, ensuring stability and speed in cross-chain transactions.
On which networks is XAUt0 available? What does this mean for the market?
Before launching on Polygon, XAUt0 only operated on the TON network.
Expanding to Polygon not only increases the accessibility of XAUt0 but also improves liquidity and practical application for this gold-backed stablecoin. The multi-chain ecosystem will help promote widespread adoption and increase market value for XAUt0.
How does the multi-network support of USDT0 and XAUt0 impact users and investors?
Support across multiple blockchain networks allows users to trade more flexibly, minimizing conversion costs and transaction waiting times.
For investors, multiple interacting networks expand investment opportunities and diversify asset portfolios without being limited by individual network rules. This is a distinct advantage of cross-chain stablecoins like USDT0 and XAUt0 in the increasingly developed cryptocurrency market.
“LayerZero’s Omnichain Fungible Token technology creates a breakthrough for connecting liquidity and stability of cross-chain stablecoins.”
– Founder of Everdawn Labs, 2023
Frequently Asked Questions
What are USDT0 and XAUt0?
They are cross-chain stablecoins, an extended version of USDT and XAUT, developed on Omnichain Fungible Token technology that allows operation across multiple blockchains.
On how many blockchain networks is USDT0 present?
USDT0 is currently available on 12 blockchain networks, with the latest being Polygon.
What benefits does integration on Polygon bring?
Helps reduce transaction costs, increase processing speed, and expand the impact of stablecoins to more users.
What does LayerZero OFT support for these tokens?
Ensures cross-chain interoperability, liquidity synchronization, and increases transaction efficiency.
Is XAUt0 a gold-backed stablecoin?
Yes, XAUt0 is a stablecoin backed by the value of gold and has cross-chain features.
Source: https://tintucbitcoin.com/usdt0-va-xaut0-ra-mat-polygon/
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