Good news from Elrond Gold. The protocol, thanks to an agreement with the British company Aurus. It issues stable currencies that are not pegged to the dollar like USDC or Tether, but to precious metals.
The tokens already being talked about openly are AWG, AWS and AWP. They use Elrond's own ESDT technology to trade on the market. All three tokens identically reproduce the price of gold, silver and platinum. These are the three most important and widely traded metallic commodities on the international financial markets.
This is excellent news for one of the most robust and rapidly expanding projects in the cryptocurrency sector. A protocol and a token on which we can invest on the platform. It's an intermediary that offers EGLD among more than 235 cryptocurrency pairs. On which we can invest through the proprietary interface with artificial intelligence. Or alternatively with MetaTrader 4 and TradingView, in addition to the Trading Central signals service.
What does Elrond stand for?
Elrond is the trading group that manages EGLD. It introduces three different tokens. AWG, AWS and AWP respectively. While being classic stablecoins, they are anchored to something never seen before in the cryptocurrency world. That is, they replicate the market price of gold, silver and platinum.
This is all part of a collaboration with Aurus, a UK-registered fintech. It integrates tokenization operations. In terms of infrastructure, the project is based on Elrond's ESDT standard. Each token represents 1 gram of precious material. What's more, it is backed in the physical sense, according to the terms and conditions specific to token issuance, which are part of Aurus.
This is the highlight of the official announcement on the Elrond website, along with a few other interesting implementation details, which we'll now analyze.
How and where can tokens be exchanged?
This is another very positive aspect for Elrond. Because tokens will be exchanged on the decentralized AMM Maiar system, which has been active since April and is directly managed by Elrond itself.
Opportunities for precious metal collateral loans too
Elrond's project really needs to succeed and garner significant support. In terms of volume, too, it represents a veritable revolution in the world of decentralized finance.
As Elrond himself points out, he foresees the future possibility of borrowing. Or to use collateral using only this type of token. An absolute novelty for the moment. It anticipates several networks that have the infrastructural capacity to operate with tokens of this type. But Elrond is pushing back.
Predictions on the future price of EGLD
Elrond, albeit quietly, continues to expand its reach and occupy an increasingly important position in the decentralized finance ecosystem. And this is having a very positive impact on the sentiment surrounding this token and its protocol.
It's a sentiment we've immortalized in our Elrond Gold predictions, which we keep up to date on our site, and which point to a token on the rise – and one that could be one of the most interesting to invest in today too.
