Sui Network Expands with New Real-World Asset Application

Sui Network has expanded its ecosystem with the introduction of a new real-world asset (RWA) application. According to ChainCatcher, Creek Finance has launched its core protocol on the Sui mainnet, integrating the XAUm gold token developed by Matrixdock. The protocol enables users to split, collateralize, lend, trade, and generate yields from tokenized physical gold on-chain, facilitating DeFi operations centered around gold assets. XAUm is backed 1:1 by physical gold and is verified through third-party audits and an on-chain reserve proof mechanism. Creek Finance stated that this launch signifies the completion of its core contract deployment, allowing users to engage in leverage and yield strategies based on gold assets in a permissionless environment, further expanding the application scenarios of RWA in DeFi.