OneSwap

Silver just found its way into @CantonNetwork’s DeFi market, and @Oneswapcc is where you can trade it. $eXAG, a tokenized silver asset from @EmberProtocol, is now live on OneSwap, paired with Excellar’s $USDXLR. But what does this actually mean for someone exploring on-chain assets? First, let’s talk about the silver behind the token. According to Ember Protocol, $eXAG is backed by physical silver, with each token representing one troy ounce of 99.9% fine silver. The silver is held in professional vaults approved by the London Bullion Market Association (LBMA). Unlike a synthetic asset designed to mirror silver’s price, eXAG is presented as a token backed by the underlying physical commodity. This connects an established real-world asset to blockchain-based markets, although the terms of custody, redemption and access remain important for holders to understand. Now, here’s where OneSwap comes in. The $eXAG / $USDXLR pair gives users a market to swap between tokenized silver and a dollar-denominated digital asset on Canton. If you’re interested in trading, you can exchange one asset for the other through the available pool. If you’re looking beyond trading, you can also provide liquidity to the pair and earn a share of the fees generated by swaps. Liquidity providers should remember that returns aren’t guaranteed. Price movements between the two assets can affect the value of their position, and impermanent loss is a risk to consider. What I find interesting about this listing is the combination of two different forms of value in one market, a token representing a physical commodity and a digital dollar. Instead of treating tokenized real-world assets as something separate from DeFi, this pairing lets users interact with one through familiar on-chain tools. With $eXAG now on OneSwap, users have another asset to explore within Canton’s expanding trading ecosystem. Get in oneswap.cc/