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Organisation

Tether

2 placements on ChainChoice under Tether, each scored against its own category's pool and criteria — none currently #1. The placements are not averaged and not ranked against each other: a #1 exchange and a #6 crypto card are two different products in two different markets.

Tokenised Commodities
Tether Gold (XAU₮)
Rank#4 OverallScore65

#1 in this category: Matrixdock Gold (XAUm)

View verdict
Stablecoins
USDT (Tether)
Rank#6 OverallScore57

#1 in this category: PayPal USD (PYUSD)

View verdict
Tokenised Commodities
How you can lose money here, and what the ranking scores
  • Insolvency failure (Tether Gold (XAU₮) 4/10): the firm or issuer that owes you cannot pay.
    Scored by Vault and independent verifier · 30%
  • Exit failure (Tether Gold (XAU₮) 2/10): you cannot get out at par, on time, or with what is yours.
    Scored by The smallest amount an ordinary holder can turn back into metal · 26%
  • Information failure (Tether Gold (XAU₮) 8/10): the number is wrong or bought, or your data leaks.
    Scored by Whether you can open the latest reserve report right now · 22%
Not assessed by this ranking: Contract failure, Control failure, Custody failure, Regulatory failure. A high place says nothing about these; the Methodology tab says what each means. Also scored, as cost, quality or a summary of several families: Round-trip cost with spread (22%).
Stablecoins
How you can lose money here, and what the ranking scores
  • Control failure (USDT (Tether) 5/10): a key or vote changes the rules, freezes or mints.
    Scored by Who can freeze, burn or replace your balance — and have they? · 18%
  • Insolvency failure: the firm or issuer that owes you cannot pay.
    Scored by Who exactly owes you the dollar, and where do you rank when they fail? · 30% (USDT (Tether) 2/10)
    Scored by What is really behind it, and what did the third party actually opine on? · 24% (USDT (Tether) 2/10)
  • Exit failure (USDT (Tether) 3/10): you cannot get out at par, on time, or with what is yours.
    Scored by Can the person actually holding it get a dollar back at par — and has anyone, at size? · 28%
Not assessed by this ranking: Contract failure, Custody failure, Regulatory failure, Information failure. A high place says nothing about these; the Methodology tab says what each means.