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BlockBeats News, May 12th. The Sui Network ecosystem welcomed a new Real World Asset (RWA) application expansion. Creek Finance announced that it has launched its core protocol on the Sui mainnet and integrated the gold token XAUm developed by Matrixdock.
This protocol allows users to split, collateralize, lend, trade, and generate yield on tokenized physical gold on-chain, enabling DeFi operations around gold assets. XAUm is backed 1:1 by physical gold and is verified through third-party audits and an on-chain proof of reserves mechanism.
Creek Finance stated that this launch marks the completion of its core contract deployment, allowing users to leverage and yield farm based on gold assets in a permissionless environment, further expanding the use cases of RWA in DeFi.
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