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Institutional RFQ

For larger notionals, pools may not be deep enough. The RFQ (request for quote) will let an institutional user trade an outcome, such as selling future gold yield for 180 days, while professional market makers compete to price it.

Concept

Section titled “Concept”
SELL FUTURE GOLD YIELD


Notional        1,000 PAXGy
Maturity        180D


Market Maker A  2.42%
Market Maker B  2.51%
Market Maker C  2.47%


Best quote      2.51%


[ Accept Quote ]

Concept preview · indicative values · placeholder market makers.

What would happen under the hood

Section titled “What would happen under the hood”
1,000 PAXGy
      ↓
Aureus
      ↓
PT + YT
      ↓
YT → Market Maker
PT → Treasury
  1. The treasury’s PAXGy is split into 1,000 PT + 1,000 YT for the 180D maturity.
  2. The YT goes to the market maker with the best quote, who pays for it upfront.
  3. The treasury keeps the PT and redeems 1,000 PAXG at maturity.

For the treasury, the result is simple: it has sold its future gold yield for 180 days at the quoted rate, without trading tokens by hand.