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RAAC Testnet Launched with $235 Million in Gold Support

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by Giorgi Kostiuk

4 hours ago


RAAC, a decentralized lending and borrowing ecosystem, has announced the launch of its testnet, backed by $235 million in gold deposits.

RAAC Testnet Launch

RAAC has launched its testnet today, attracting significant interest from institutional investors. The project secured $235 million in gold-backed deposits, aiming to develop opportunities in US rental property and beyond.

Most value in crypto is driven by DeFi and payments. However, as for DeFi, this value is currently derived mostly from crypto speculation. We need projects like RAAC to go beyond our crypto bubble.Michael Egorov, Curve founder and RAAC advisor

Gold Reserve Tokenization

RAAC will develop protocols integrating gold-backed and real estate-backed tokens from asset owners. Companies like Pretio DeFi Solutions secured a contract for tokenizing 1 million ounces of gold from a mining project in British Columbia. The tokenized reserves' estimated total value could reach up to $3 billion depending on market conditions.

RAAC has been in the works for a long time. Our team believes passionately in increasing access to the world’s most stable assets in one of the world’s most volatile sectors.Kevin Rusher, RAAC founder

Financial Ecosystem and Future Plans

The tokenization process will transform these proven gold reserves into fractional digital assets deposited into the Pretio Foundation DAO. At RAAC's launch, Pretio will contribute an initial $235 million in treasury assets, with further assets added over time. This comprehensive digital ecosystem will leverage on-chain liquidity and advanced DeFi protocols.

One of the biggest issues RWA tokenization faced was on-chain liquidity. RAAC solves that elegantly while providing a vehicle for traditional finance institutions to get credible exposure to the DeFi market.Mathew Harrowing, Instruxi co-founder

The launch of RAAC's testnet marks a new era in integrating real-world assets with decentralized technology. The platform offers new opportunities for both investors and traditional financial institutions eager to explore asset tokenization.

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