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.
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.
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.
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.
