Klaytn Onboards First Gold-Pegged Token and RWA DeFi Platform, Expanding Access to Tokenized Assets
SINGAPORE – 04/01/2024 – (SeaPRwire) – Klaytn, South Korea’s leading public blockchain, has partnered with ecosystem member CREDER to launch $GPC, the first gold-pegged token on Klaytn, along with Goldstation, a decentralized finance (DeFi) platform for tokenized gold assets. This collaboration represents major milestones for Klaytn, marking the first gold-backed real-world asset (RWA) token and DeFi platform outside of Ethereum.
$GPC provides several firsts in tokenized commodities, allowing small investors better access to gold exposure on-chain. With no percentage fees, $GPC removes typical barriers for transacting gold on Ethereum and other chains. And with Klaytn’s low transaction costs, traders can easily invest and transact even minute amounts of tokenized gold without excessive gas fees eroding returns.
Goldstation extends this access further, enabling $GPC staking and other DeFi services for gold. By combining gold with DeFi yield opportunities, Goldstation creates new revenue streams atop the inherent value of a commodity. This showcases the unique capabilities unlocked when tokenized real-world assets meet decentralized finance.
To receive $GPC, users first tokenize physical gold into NFTs via CREDER’s The Mining Club. Then the NFTs are deposited on Goldstation as collateral to issue $GPC, providing transparent proof-of-reserve. This streamlined process leverages Klaytn’s high throughput and the ERC-3643 token standard.
The Klaytn Foundation partnered closely with CREDER leading up to launch, providing startup support and cooperating on regulatory issues. With Klaytn also expanding tokenization capabilities, the partners are exploring further precious metal offerings beyond gold in the future.
For Klaytn, onboarding innovative tokenized asset projects like $GPC aligns with its commitment to driving blockchain adoption and decentralization. By lowering the barriers to entry for tokenized commodity exposure, Klaytn is expanding the real-world use cases for decentralized apps and services. As adoption spreads globally, the network welcomes more local partners like CREDER that are integrating blockchain solutions into traditional markets.
The launch of the $GPC token and Goldstation platform highlights Klaytn’s expanding ecosystem of tokenized real-world assets. With an accessible and developer-friendly base layer, Klaytn aims to be the leading public chain for connecting traditional markets to the world of decentralized finance. This opens new horizons in the convergence between blockchain innovation and the assets of the real economy.
SOURCE Klaytn Foundation
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