Question 1

What is XAUt0 (XAUt0)?

Accepted Answer

XAUt0 is an Omnichain Fungible Token (OFT) that moves the existing Tether Gold token (XAUt) between blockchains without wrapped substitutes or bridge-side liquidity pools. One XAUt is locked in an adapter contract on Ethereum (0xb9c2321BB7D0Db468f570D10A424d1Cc8EFd696C) and one XAUt0 is minted on any LayerZero-connected chain. Burning XAUt0 releases the same amount of XAUt on Ethereum, so the total XAUt0 supply is always backed 1 : 1 by vaulted gold.

XAUt0 is an independent omnichain bridge token operated by Everdawn Labs; it is neither issued nor redeemed by Tether. The first public deployment went live on 2 June 2025 on The Open Network (TON), with further roll-outs planned for HyperEVM, HyperCore and additional LayerZero networks.

Question 2

How does XAUt0 work?

Accepted Answer

1. **Lock** – XAUt is escrowed in the Ethereum adapter contract.  
2. **Message** – LayerZero oracles and relayers attest to the lock and dispatch a cross-chain message.  
3. **Mint** – The destination chain’s OFT contract mints the same quantity of XAUt0 to the designated address.  
4. **Burn / Redeem** – Transferring XAUt0 to another network burns the tokens on the source chain and mints them on the target. Burning on a non-Ethereum chain and requesting redemption unlocks the underlying XAUt on Ethereum.

Question 3

What is XAUt0 (XAUt0) used for?

Accepted Answer

* **Cross-chain mobility** – Move tokenised gold between TON, HyperEVM, HyperCore and future LayerZero networks without relying on separate bridge pools.  
* **DeFi collateral and settlement** – Use a single, gold-backed asset across decentralised finance applications while maintaining one unified supply.  
* **Exchange operations** – Centralised venues integrate a single contract per chain; users can convert between XAUt0 and XAUt at 1 : 1, although XAUt0 itself is not redeemable with Tether.

Question 4

Who created XAUt0 (XAUt0)?

Accepted Answer

Everdawn Labs designed the contracts, maintains the LayerZero configuration and operates the lock-and-mint infrastructure. The codebase follows the LayerZero OFT standard, has undergone external audits and is covered by an ongoing bug-bounty programme.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	XAUT0-USDC XAUT0USDC	hyperliquid	-	4,170.00USDC	0.22%	87.55XAUT0	724	4,161.00USDC	4,188.10USDC
2	XAUT0-USDT0 XAUT0USDT0	hyperliquid	-	4,137.00USDT0	0.00%	0XAUT0	0	4,137.00USDT0	4,137.00USDT0