XGLD
Overview
XGLD is a yield-bearing gold asset issued by Unitas. It is backed by Tether Gold (XAUt), with yield generated through Unitas strategies and reflected through XGLD NAV growth over time.
XGLD expands the Unitas product suite beyond USDu into yield-bearing assets backed by real world collateral.
The asset is designed around 3 core components:
XGLD
Yield-bearing gold asset
XAUt
Underlying collateral backing XGLD
USDT
Borrow asset and strategy capital
Unitas strategies
Yield source
XGLD uses XAUt as collateral, borrows USDT against it and deploys the borrowed USDT into Unitas strategies. Yield generated by those strategies is distributed to XGLD through NAV appreciation.
Supported Chains
BNB Chain
Native minting and redemption
Base
LayerZero OFT
XGLD is live on BNB Chain with native minting and redemption.
Base deployments use LayerZero OFT, powered by USDT0 and XAUt0.
User Access
There are 2 primary ways to access XGLD:
Whitelisted users
Mint and redeem XGLD directly
Regular users
Swap USDT or XAUt for XGLD
Minting and redemption require whitelisting.
Regular users can access XGLD through secondary markets on supported networks.
Minting Flow
Whitelisted users can mint XGLD on BNB Chain.
User deposits XAUt
Unitas mirrors the XAUt on a CEX via OES
Unitas posts XAUt as collateral and borrows USDT
User receives XGLD
Yield Distribution
XGLD yield is generated by using XAUt as collateral and deploying the borrowed USDT into conservative strategies.
XAUt is held by the XGLD Fund Vault
XAUt is mirrored for CEX execution through OES
USDT is borrowed against XAUt through BYBIT Stake & Borrow
Borrowed USDT moves to the USDT Fund Vault
USDT is deployed into a basket of delta-neutral strategies
Strategy returns accrue to XGLD through NAV appreciation
OES coordinates the exchange execution flow. User funds are not deposited to centralized exchanges for strategy execution.
Redemption Flow
Whitelisted users can redeem xGLD for XAUt.
User initiates redemption
Redemption enters a 7-day cooldown
Strategy exposure is reduced as needed
XAUt is released through the Redemption Contract
User claims XAUt after the cooldown
Fees
Minting
0%
Redemption
0.1%
The redemption fee primarily covers transaction slippage and operational costs when Unitas adjusts positions and releases collateral.
Risk Controls
xGLD uses conservative borrowing and active monitoring.
Key controls include:
XAUt used as collateral
USDT borrowed at conservative LTV
Borrow positions monitored continuously
Borrowed USDT deployed through Unitas strategies
Positions repaid when required to reduce liquidation risk
OES used for mirrored exchange execution
Multisig controls for key actions
Real-time monitoring by the Unitas trading team
OIn practice, xGLD prioritizes solvency, redemption capacity and controlled exposure. Strategy deployment only occurs within defined collateral limits and can be reduced as market conditions change.
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