{"id":102129,"date":"2024-11-29T17:03:39","date_gmt":"2024-11-29T21:03:39","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=102129"},"modified":"2024-11-29T17:03:43","modified_gmt":"2024-11-29T21:03:43","slug":"elixir-curve-partner-to-bring-blackrocks-buidl-to-defi","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/elixir-curve-partner-to-bring-blackrocks-buidl-to-defi\/","title":{"rendered":"Elixir, Curve Partner to bring BlackRock’s BUIDL to DeFi"},"content":{"rendered":"\n

On November 29, Curve announced that it has partnered with blockchain network<\/a> Elixir to broaden the availability of decentralized finance (DeFi) for BlackRock's tokenized money market fund.<\/p>\n\n\n\n

\"Elixir,Curve
Elixir, Curve Partner to bring BlackRock's BUIDL to DeFi<\/figcaption><\/figure>\n\n\n\n

According to Curve, token holders will shortly have the opportunity to mint Elixer's yield-bearing stablecoin, deUSD, against the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).<\/p>\n\n\n\n

Then, they can exchange deUSD for other DeFi stablecoins, including USD Coin, Tether, and Frax, in Curve's liquidity pools.<\/p>\n\n\n\n

“[U]p to $1B in institutional real-world assets <\/a>(RWAs) can now mint deUSD, a synthetic dollar that bears a yield,” Curve stated.<\/p>\n\n\n\n

According to the announcement, Curve presently hosts the majority of deUSD trading and liquidity, with $64M (approximately 60% of total liquidity) in Curve pools.<\/p>\n\n\n\n

According to Curve, liquidity providers (LPs) may receive incentives to provide liquidity to the pools. Elixir's website advertises as high as 40% APRs for specific deUSD stakeholders.<\/p>\n\n\n\n

As of November 29, Curve is a viral decentralized exchange with nearly $2 billion in total value locked (TVL), according to DefiLlama.<\/p>\n\n\n\n

\"Source:
Source:\u00a0<\/em>RWA.xyz<\/em>\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

BlackRock's tokenized money market fund<\/h2>\n\n\n\n

Securitize tokenizes BUIDL, a money market fund that predominantly invests in short-dated United States Treasury bills (T-Bills) and similar low-risk, interest-bearing securities.<\/p>\n\n\n\n

BUIDL is the largest tokenized Treasury fund in assets under management (AUM), with an AUM of approximately $540 million. The Franklin OnChain US Government Money Fund<\/use><\/svg><\/span><\/a> (FOBXX) is the second largest, with an AUM of roughly $450 million.<\/p>\n\n\n\n

BlackRock deployed BUIDL on numerous blockchain networks, including Aptos, Arbitrum, Avalanche, Optimism, and Polygon, on November 13.<\/p>\n\n\n\n

Elixir announced its intention to introduce a liquid staking token (LST) for BUIDL and other tokenized securities on November 19.<\/p>\n\n\n\n

The expansion of tokenized RWAs<\/h2>\n\n\n\n

The demand for tokenized RWAs that provide low-risk yields from T-Bills and other money market instruments is increasing.<\/p>\n\n\n\n

According to RWA.xyz, tokenized Treasury products<\/a> have increased in value by over threefold since the beginning of 2024, with an estimated $2.5 billion in TVL as of November 29.<\/p>\n\n\n\n

In an interview with Cointelegraph, Colin Butler, Polygon's global director of institutional capital, stated that tokenized RWAs collectively represent a $30-trillion market opportunity worldwide.<\/p>\n","protected":false},"excerpt":{"rendered":"

On November 29, Curve announced that it has partnered with blockchain network Elixir to broaden the availability of decentralized finance (DeFi) for BlackRock’s tokenized money market fund. According to Curve, token holders will shortly have the opportunity to mint Elixer’s yield-bearing stablecoin, deUSD, against the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). Then, they can […]<\/p>\n","protected":false},"author":12,"featured_media":73510,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1520,19105,22371,23155,18779],"class_list":["post-102129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blackrock","tag-blackrock-buidl","tag-buidl","tag-cure","tag-elixir"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/03\/croc_1710273436582.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/102129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=102129"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/102129\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/73510"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=102129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=102129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=102129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}