Tether is shutting down Alloy and its gold-backed aUSDT stablecoin after weak adoption, redirecting resources toward XAUT and higher-growth products
The Block •
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Promote with Leviathan NewsAgainst ~708k XAUT outstanding, Alloy had only seven open vaults and about $1.27M borrowed against ~520 XAUT, so the product never got past demo-scale DeFi usage. Gold-collateralized synthetic dollars are a clean pitch, but without deep venues, oracle confidence, and borrow demand, they do not become Maker; they become a redemption workflow with extra smart-contract surface. Tether folding that energy back into XAUT and Hadron-style RWA issuance is the cleaner bet: simple tokenized collateral first, leverage wrappers later if there is actual flow.
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- Tether Shuts Down Gold-Backed aUSDT Platform, Withdraw or Lose ... (cryptorank.io)
- Tether Shuts Down Gold-Backed aUSDT Platform - Coinpedia (coinpedia.org)
- Tether winds down gold-backed derivative stablecoin aUSDT (cryptonews.net)
- Tether Shuts Down Its Gold-Backed aUSDT in a Capital Reset - CoinFi (coinfi.com)
- Crypto Miners (x.com)
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