Matrixport AMA Recap, Forming the On-Chain Gold Economy Accelerated: XAUm and Creek are Building a Sustainable Yield Network

Source: Matrixport

On November 18, 2025, the global one-stop crypto financial platform Matrixport held an AMA event with the theme "Building the On-chain Gold Economy: How Matrixdock and Creek Collaborate to Construct a Sustainable On-chain Yield Network." The event featured Matrixdock's Business Development Lead, Josh, and Creek's Co-founder, Damian, discussing the trend of gold tokenization, the on-chain applications of XAUm, and the sustainable yield model. This discussion revealed the new positioning of gold in on-chain finance and showcased the latest developments in the RWA track.

Gold Enters the Third Stage of On-chainization: Transitioning from Static Store of Value to Native DeFi Asset

Josh, the lead of Matrixdock, pointed out that the development of gold is currently undergoing three stages: in the initial physical gold stage, the asset was heavily static with very low liquidity. After entering the ETF stage, although the investment threshold was lowered, it was still limited by trading hours, high redemption thresholds, and tedious processes. Now, gold is entering the third stage, the era of on-chainization: achieving 24/7 global liquidity, wallet-to-wallet transfers, usability for DeFi collateral, and the ability to earn real yield without leaving the custody.

In this stage, gold is no longer just a store of value but has become part of the on-chain financial infrastructure. The core goal of Matrixdock and Creek is to transform gold into an underlying asset that combines security, liquidity, and profitability.

The Underlying Asset Path of XAUm: Full Transparency from Physical Gold to On-chain Token

XAUm is a physical gold token issued by Matrixdock, with each token corresponding to 1 troy ounce of physical gold securely stored in vaults in Hong Kong and Singapore by Brinks and Malca-Amit. Its issuance process strictly follows the principle of "physical first, no over-issuance": users initiate mint requests with stablecoins, and Matrixdock off-ramps stablecoins to fiat, then purchases the corresponding amount of gold from LBMA-certified refineries. After the gold bars are vaulted, asset proofs and audit updates are completed, XAUm is officially minted, ensuring that the quantity of on-chain tokens matches the physical gold in the vault.

Users can acquire XAUm through multi-chain DEXes, the Matrixdock dApp, or the Matrixport App, covering various scenarios such as CEX, DeFi, and mobile.

Gold On-chain Yield Farming: Creek Unlocks Structured Yield Model for XAUm

In the Sui ecosystem, Creek introduces a structured yield model for gold. When users stake XAUm in Creek, it is split into GR (Gold Reserve, representing the stable portion of the gold value) and GY (Gold Yield, representing the fluctuating yield portion of gold).

This splitting mechanism gives gold greater on-chain composability: conservative users can hold both GR and GY simultaneously and recombine them back into XAUm at any time; while users looking to increase capital efficiency can use GR as collateral to borrow GUSD, thus participating in more DeFi strategies.

Over 70% of the protocol's revenue sources (including lending interest, flash loan fees, and trading fees) will be redistributed to GY/GUSD holders. In this design, gold not only maintains its stable value properties but also gains the ability to generate sustainable yield, truly integrating it into the DeFi ecosystem.

Sui as the Key Enabler of On-chain Gold: Move Builds a Secure Foundation for Real World Assets

The reason Matrixdock deployed XAUm on Sui is mainly based on the following considerations:

● Move language natively supports asset and permission management, providing higher security

● Sui has a high-quality user base, strong interactions, and is suitable for core asset layouts such as gold

● USDC's deep liquidity on Sui provides a critical starting point for RWAs

● Circle natively supports Sui, significantly reducing friction costs in the gold purchase process

● The Sui team explicitly considers gold as a core anchoring asset in the on-chain financial ecosystem

Building on this foundation, Creek also fully leverages Move's security features, achieving more efficient contract design. For example, complex flash loan logic would require hundreds of lines of code on the EVM, whereas in Move, it can be accomplished with minimal code, significantly reducing the attack surface of smart contracts.

Up to now, the Creek testnet has attracted over 4 million users, with 500,000 users completing the full interaction process. With the mainnet launch, both parties will introduce more collaborations in the Sui ecosystem, including lending protocols, yield products, and liquidity pools, providing a richer infrastructure for on-chain gold applications.

XAUm to Expand to Multiple Chains, On-Chain Gold Standard Asset Emerging

Josh stated that currently, tokenized gold accounts for less than 0.01% of the global gold market, indicating significant growth potential in the future. Next, Matrixdock will focus on the following directions:

● Building XAUm into a nine-figure (Hundred-Million TVL) core asset on Sui

● Expanding into more use cases: lending, LP Vault, Basis Trading, Looping, etc.

● Expanding XAUm to multiple mainstream blockchains in the next 6–12 months

● Has connected with institutions such as BitGo, Cactus Custody, Crypto.com, Binance, OKX, and will continue to expand.

With the accelerated multi-chain expansion and institutional adoption, XAUm is rapidly evolving towards becoming the on-chain gold universal asset standard.

With the institutional-grade gold infrastructure of Matrixdock, Creek's structured income model, and Sui's underlying security architecture, gold is transforming from a traditional store of value into an on-chain core asset that is liquid, collateralizable, composable, and capable of generating real returns. In the future, gold will no longer just be part of the RWA track but will become a key infrastructure of the Web3 financial system, driving the comprehensive formation of the on-chain gold economy.