Touchstone Injects 16,052 XAUt into Morpho Gold-Collateralized Loan Market

Touchstone has joined Morpho as a curator to establish a gold-collateralized on-chain loan market. The initial setup includes Touchstone USDT vault, Touchstone XAUt vault, XAUE/USDT, and XAUE/XAUt markets, with the liquidation collateral recognition ratio (LLTV) for both loan markets set at 77%. Institutional anchor Antalpha announced on April 24 that it would inject 6,052 XAUt into the XAUE protocol, equivalent to approximately $29 million. Aurelium also stated on the same day that it committed 10,000 XAUt, about $48 million, to XAUE. Combining the commitment figures from both companies results in a total of 16,052 XAUt. However, Aurelium disclosed in its SEC filing on July 27 that the completed subscription for XAUE as of June 30 was 8,000 XAUt, indicating that commitments and actual completions should be distinguished. Unlike single-protocol governance, Morpho's curator model allows curators to set strategies while providers choose them. As of August 27, the Morpho dashboard recorded total deposits of $14.15 billion, active loans of $4.86 billion, and a TVL of $9.29 billion. According to DeFiLlama's XAUE dashboard, the on-chain market capitalization was $72.85 million, with the XAUE price at $4.54. Gold-collateralized loans maintain exposure to gold prices while securing liquidity, but may be sensitive to price shocks if the on-chain supply is small.