What to Know
- XAUm, a gold-backed token issued by Matrixdock, is now listed as collateral on Venus Protocol on BNB Chain.
- Chainlink SmartData provides the gold price feed used to value XAUm for lending and borrowing on the platform.
- The integration aims to connect traditional gold markets with blockchain finance by enabling real gold exposure in DeFi.
Chainlink has launched its SmartData system to support tokenized gold on Venus Protocol, marking a new step in bringing traditional assets onto blockchain networks. The integration allows XAUm, a gold-backed digital token issued by Matrixdock, to use Chainlink’s price data system on Venus, the largest lending platform on BNB Chain.
The development is being seen as part of a larger effort to connect traditional finance with decentralized finance and bring the global gold market, worth around $35 trillion, onto blockchain systems.
Chainlink Powers Gold Price Data on Venus
Chainlink announced that its SmartData system is now live as the price oracle for XAUm on Venus Protocol. In simple terms, this means Chainlink will provide the gold price information that the platform uses when people borrow or lend using the token. Accurate price data is important for lending platforms because it determines how much users can borrow against their assets and when their positions may be at risk.
By using Chainlink’s system, Venus aims to ensure that the value of XAUm on the platform always reflects the current price of gold in global markets. The integration also brings institutional-grade gold price feeds into the lending system, making it easier to use tokenized gold in decentralized finance.
What Is XAUm?
XAUm is a tokenized gold product issued by Matrixdock, the real-world asset platform of Matrixport, a digital asset financial services company in Asia. Each XAUm token represents one troy ounce, or about 31.1 grams, of physical gold. The gold meets the standards set by the London Bullion Market Association (LBMA), which is widely recognized in the global gold market.
The gold backing the tokens is stored in secure vaults in Asia and is fully allocated, meaning every token is backed by real gold held in custody. Matrixdock says the gold reserves are regularly audited and users can verify the holdings through published records. The company also offers physical redemption for the tokens in Singapore and Hong Kong starting from one-kilogram gold bars.
Venus Lists Its First RWA
The listing of XAUm is also a milestone for Venus Protocol because it is the first real-world asset to be accepted as collateral on the platform. Venus is the largest lending market on BNB Chain and allows users to deposit assets and borrow against them. With the addition of XAUm, users can now supply tokenized gold as collateral.
In a statement, Venus said the move helps bridge the gap between traditional finance and decentralized finance. “The wall between TradFi and DeFi is coming down on BNB Chain… and Venus is proud to stand at the center of it,” the project said. The platform added that BNB Chain has long aimed to become a hub for real-world assets, and the listing of XAUm is an important step in that direction.
LINK Price Action
Chainlink’s token LINK rose about 4% in the past 24 hours to around $8.87, slightly outperforming the broader crypto market. The move appears to be partly linked to the launch of Chainlink SmartData for tokenized gold on Venus, along with a broader market rally led by Bitcoin.
Trading volume for LINK also jumped nearly 47% to about $670 million, showing increased trader interest. Analysts say if LINK holds above the $8.50 support level, it could test $9.20, while a drop below $8.20 may push the price toward $7.80.
Final Thoughts
Venus says XAUm is just the beginning of its strategy to bring more real-world assets onto the platform. If more assets move onto blockchain networks, lending platforms like Venus could become a bridge between traditional financial markets and the growing world of digital assets.
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