Xash’s Kevin Huynh Pitches Stablecoin Issuers on Gold Rewards Instead of Passive Yield

What happened

Huynh said on Unchained Premium that Xash pays for the gold with its own venture money for now, and that no stablecoin (a digital token meant to hold a fixed value, usually one dollar) issuer has signed a contract yet. Kevin Huynh , introduced on Unchained Premium as co-founder and CEO of Xash , said the startup wants stablecoin issuers to pay for tokenized-gold rewards that users earn by putting their dollars to work in DeFi, instead of yield for simply holding a token.

Users connect a Phantom or Solflare wallet to Xash’s non-custodial Solana front end and route stablecoins to outside DeFi venues such as Kamino to trade, lend or provide liquidity. Xash scores that activity in points it calls XP and, at the end of each month, splits a pool of gold among users by points.

“It’s currently Paxos Gold on Solana,” Huynh said on the show, referring to the PAXG token. This story is brought to you by Unchained Premium .

Key facts

• Kevin Huynh , — introduced: on Unchained Premium as co-founder and CEO of Xash , said the startup wants stablecoin issuers to pay for tokenized-gold rewards that users earn by putting their dollars to work in DeFi, instead of yield for simply holding a token