❌ @tether is winding down @Alloy_tether and its gold-backed derivative stablecoin $aUSDT. Existing users will have three months to redeem $aUSDT and withdraw their $XAUT collateral. The decision brings an end to a product launched in June 2024. Alloy allowed users to deposit $XAUT as collateral and mint $aUSDT through @ethereum smart contracts, providing dollar-like liquidity without requiring users to sell their gold exposure. The company noted that Alloy provided insights into demand for gold-backed digital assets, collateral-based products, and tokenized RWAs. Tether will now focus on initiatives with “stronger user demand, deeper liquidity, and broader long-term market opportunity.”