BlackRock has launched the primary direct decentralized finance (DeFi) integration of its almost $3 billion tokenized Treasury fund, sBUIDL, with Euler Finance on the Avalanche blockchain community
BlackRock has launched the primary direct decentralized finance (DeFi) integration of its almost $3 billion tokenized Treasury fund, sBUIDL, with Euler Finance on the Avalanche blockchain community. The sBUIDL token, issued by Securitize utilizing its sToken vault know-how, is now accessible as on-chain collateral for lending and borrowing on Euler. This integration allows the beforehand restricted BUIDL fund, which is an ERC-20 commonplace token, for use inside DeFi protocols. The transfer marks a notable step within the composability of conventional finance and DeFi. The sBUIDL tokens on Euler are secured by Chainlink knowledge feeds, guaranteeing dependable pricing and safety for customers. The combination was curated by Re7Labs on the Avalanche community, with expectations that different DeFi platforms like Aave might comply with go well with in accepting sBUIDL tokens for lending and borrowing.
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