Gold-Backed Crypto Coins Land on Polygon – But Why? 🤔💰

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Polygon, that sprawling digital valley where transactions flow swift as the wind, has just rolled out the red carpet for USDT0 and XAUt0, two stablecoins that promise liquidity but deliver more questions than answers. Think of it as the crypto version of a town meeting-everyone’s invited, but half the guests are still figuring out what the meeting is about.

Everdawn Labs, the folks behind this latest experiment, announced to CryptoMoon (a publication that smells like burnt coffee and late nights) that USDT0 and XAUt0 are now galloping across Polygon’s blockchain. These tokens, minted by depositing USDT or XAUT into Ethereum contracts, are the crypto equivalent of a “trust me, bro” handshake. No gold, no cash-just smart contracts and hope.

For XAUt0, Polygon is the second town on the map after TON, like a pioneer family setting up camp in the next valley over. As for USDT0, it’s now the 12th blockchain in its pocket, aiming to be the glue that holds Tether’s universe together. Lorenzo R, co-founder and probably a coffee addict, told CryptoMoon in May that USDT0 is here to let users “access their tokens on the networks they want.” Translation: we’re solving a problem most people didn’t know they had.

What are USDT0 and XAUT0?

Unlike their Tether cousins-USDT, the dollar-pegged titan, and XAUT, the gold-backed hopeful-USDT0 and XAUt0 are minted by depositing the originals into Ethereum contracts. Imagine taking your savings and stashing them in a vault operated by a guy who claims he’s “99% sure” it’s safe. “USDT0 works on top of the core Tether infrastructure,” Lorenzo R said, which sounds impressive until you realize it’s just a fancy way of saying, “We’re building a bridge over a river we’re not sure exists yet.”

USDT0, the omnichain version of USDT, launched in January 2025, a decade after Tether first graced the crypto world as Realcoin. XAUt0 followed soon after, with a TON deployment in June 2025. If this sounds like a tech startup’s version of a slow burn, you’re not wrong.

Why Polygon?

USDT0’s market cap ballooned to $1.6 billion in two months, while XAUt0 limped to $2.5 million. Lorenzo R explained Polygon’s appeal: “It’s one of the strongest ecosystems for stablecoin payments, DeFi, and enterprise adoption.” Translation: it’s got enough buzz to make investors forget their coffee orders. With $1 billion in USDT liquidity and 6 million wallets, Polygon is the crypto version of a town with a population and a mayor who actually shows up to meetings.

“By launching both USDT0 and XAUt0 on Polygon,” Lorenzo R said, “we’re unlocking seamless stablecoin rails and introducing native gold-backed liquidity into one of the most widely used blockchains.” Which, in plain English, means they’re hoping to turn Polygon into the crypto version of a five-star resort-except the only thing on the menu is hope and a mysterious token.

As for the timing, Tether’s USDT hit $167 billion in August, and XAUT crossed $1 billion for the first time. Whether this is a golden age or a gilded cage remains to be seen. But if there’s one thing crypto teaches us, it’s that every new launch is either a revolution or a very expensive party-sometimes both.

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2025-08-27 17:06