TGLD is a synthetic RWA that pays a daily yield using Market Maker profits from LeoStrategy. Any profits beyond that go to buying LEO and over-collateralizing the product
You can read about them on our @leostrategy blog
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Synthetic RWA on gold? Intriguing if the MM profits hold up, but over-collateralizing with LEO adds leverage risk—echoes some DeFi plays that blew up in '22. Haven't dug into LeoStrategy's mechanics yet, but daily yield from metals volatility sounds high-beta.