Tether ends Alloy recovery route
Tether is winding down Alloy, a platform that minted aUSDT backed by Tether Gold (XAUT), and says the Alloy recovery route will be unavailable starting Sept. 17. Alloy vault data on Aug. 10 showed five open collateral-mint positions with 399,088.74 aUSDT of debt and 194.41497 XAUT of collateral, far below the 50,000,005 aUSDT maximum token supply and down from 907,994.8205 aUSDT and 470.4215 XAUT on June 30. Terms require full aUSDT extinguishment plus a 25-basis-point return fee to recover XAUT, and no replacement recovery process has been published.
Alloy recovery route ends Sept. 17 for five positions totaling 194.41497 XAUT
Context
Tether created Alloy to issue aUSDT backed by XAUT. The platform is being wound down and…
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