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[Tether]

XAUT

Grade
D
Date of Rating:
June 4th, 2023
Last Change:
June 4th, 2023
SMIDGE Scores
[S] Stability
[M] Management
[I] Implementation
[D] Decentralization
[G] Governance
[E] Externals
[S]
N/A
[M]
N/A
[I]
N/A
[D]
N/A
[G]
N/A
[E]
N/A
XAUT Price
Last Update:
03/10/2026 07:01:00
$4140.52
Market Cap
$3,349,524,413
24h Volume
$268,779,649
Collater­alization
100%
Peg
Gold
Backing
Commodity
Data provided by
Coingecko
SMIDGE Scores
[S] Stability
[M] Management
[I] Implementation
[D] Decentralization
[G] Governance
[E] Externals
[S]
N/A
[M]
N/A
[I]
N/A
[D]
N/A
[G]
N/A
[E]
N/A
Core Team
  • Hidden Name
  • Hidden Name
Audits
Native Chains
  • Chain
Links
Full Report
Scoring Guidelines
[S]
[M]
[I]
[D]
[G]
[E]
0.00
0.00
0.00
0.00
0.00
0.00
Tether
D
  • Tether Gold (XAUT) is a gold-backed stablecoin issued by TG Commodities, a subsidiary of Tether Holdings Limited.
  • Each XAUT token represents ownership in 1 fine troy ounce of gold held at vaults in Switzerland.
  • The Tether Group has a less than stellar reputation for its opaque operations and questionable practices. It has been the subject of intensive regulatory scrutiny and penal actions from the likes of the New York Attorney General and the CFTC for making false claims about the backing of USDT, another stablecoin issued by it.
  • In our assessment, XAUT is only suitable for high-net-worth individuals and institutions who have registered accounts with Tether for availing redemptions.

XAUT's rating can be upgraded from D to C by:

  • disclosing the names of its gold custodian(s) OR
  • lowering the minimum redemption value from $100K to $5K.

 

Tether
Stability

The Stability factor is evaluated on the following:

  1. Reserves Management - Quality, quantity, storage and segregation of reserve assets
  2. Market Feedback - Indicators of market's confidence in a stablecoin derived from price and trade data
  3. Mechanism - Stabilization methods that protect the stablecoin 

 

 
Tether
Management

The Management factor is evaluated on the following:

  1. Restrictions - What deterrents exist to prevent key personnel of stablecoin projects from unethical and illegal behavior?
  2. Negative Track Record - Have key personnel been involved in scams, frauds or other illegal activities?
Tether
Implementation

This factor evaluates technical implementation using sub-factors that cover smart contract quality, oracle & bridge risk, supply integrity, and more.

This rating was published under a previous version of our methodology, which did not assign a standalone score to this factor.

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Tether
Decentralization

The Decentralization factor is evaluated on the following:

  1. Platform Censorship Risk
  2. Custodian Risk
  3. Type of Collateral
  4. Diversified voting Power
  5. User Censorship Risk
Tether
Governance

The Governance factor for asset-backed stablecoins is evaluated on the following:

  1. Holder Protection - What rules, statutes or code exist to protect interests of stablecoin holders
  2. Reserves Verification - What checks are done to ensure existence of reserves?
  3. Redemptions - Do issuers have transparent and reasonable redemption terms? 
Tether
Externals

This factor evaluates external feedback using indicators like prediction markets, social sentiment, perpetual futures, and more.

Currently, we do not assign a standalone score to this factor. An independent assessment of external feedback will be included in future iterations.