Sign Up
Log In
Search
Ratings Bookmarks About Subscribe
[XAUT]

Tether Gold

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:
06/11/57459 16:40:00
$3281.79
Market Cap
$809,041,084
24h Volume
$24,382,735
Collater­alization
100%
Type of Peg
Fixed - To RWA
Type of Backing
RWAs
Data provided by
Coingecko
SMIDGE Scores
[S] Stability
[M] Management
[I] Implementation
[D] Decentralization
[G] Governance
[E] Externals
[S]
-
[M]
-
[I]
-
[D]
-
[G]
-
[E]
-
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 Gold
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 Gold
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 Gold
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 Gold
Implementation

This factor aims to assess risks arising from technical implementations – i.e, smart contract code and oracles. It is currently not assessed, but we plan for it to be evaluated in the future.

Tether Gold
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 Gold
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 Gold
Externals

This factor seeks to incorporate external feedback mechanisms such as market and social sentiment into our internal ratings. It is currently not assessed, but we plan for it to be evaluated in the future.