BlackRock’s BUIDL Fund Joins DeFi with sBUIDL Token
BlackRock’s BUIDL fund has entered the decentralized finance (DeFi) world. On May 15, Euler Labs announced the launch of sBUIDL on X. This token, backed by BlackRock’s BUIDL and issued by Securitize, is now live on Euler. It’s the first direct DeFi integration for sBUIDL, available on Avalanche.
Users can now use sBUIDL as collateral to borrow USDC or AUSD. They can also earn AVAX incentives. Re7 Labs facilitated this integration, making it possible for users to leverage BlackRock’s assets in DeFi.
Euler, known as a “lending super app,” allows institutions to create custom lending markets. They control parameters like collateral and liquidation settings. The platform supports various lending products, unlike conventional defi protocols. It enables complex lending strategies and has attracted over $900 million in deposits since its launch. The platform’s modular design supports different lending products, including fixed-term loans and synthetic assets.
Euler’s flexibility lets builders combine components to create new lending products. It supports permitted markets and fixed-term loans. The platform uses the ERC4626 standard and Ethereum Vault Connector for seamless vault interactions. This move brings real-world assets into DeFi, promoting institutional adoption.
launched in March 2024, BUIDL has grown to $2.8 billion in assets. It invests in U.S. Treasury bills, cash, and repos, maintaining a stable $1 per token value with daily dividends. With just 73 wallets holding BUIDL, its entry into DeFi shows a bridge between traditional finance and blockchain. This integration could boost DeFi’s appeal by offering new use cases for BlackRock-backed assets.It’s a significant step toward connecting traditional finance with blockchain technology.
BlackRock’s BUIDL fund has quickly gained traction. Its entry into DeFi through sBUIDL opens new opportunities. It shows how traditional finance can integrate with blockchain. This move could attract more institutional interest in DeFi.
- sBUIDL is live on Avalanche.
- Users can borrow stablecoins while earning rewards.
- It highlights the growing trend of combining real-world assets with decentralized markets.
For more details, visit Euler and Securitize and avalanche chain.
