Injective Rolls Out a Tokenized Index for BlackRock’s BUIDL Fund
In Brief
Injective has launched a tokenized index for BlackRock’s BUIDL Fund, enabling users to engage with this new financial product through cutting-edge on-chain instruments.
A blockchain platform tailored for financial applications, Injective has rolled out the tokenized index for the BUIDL fund managed by an established asset management firm. BlackRock This allows users to interact with the fund through advanced on-chain financial solutions.
BUIDL represents BlackRock This is the pioneering tokenized fund launched on a public blockchain, giving institutional investors a chance to generate returns on assets such as US Treasuries. Each BUIDL token is pegged at a steady $1. Moreover, token holders can benefit from a daily-dividend that accumulates and is paid out monthly.
The BUIDL Index marks the debut of a perpetual trading market for the BUIDL Fund, which offers 24/7 access to tokenized assets like US Treasuries with leverage options. This index was created in collaboration with Stork, a decentralized data feed designed for both on-chain and off-chain information. Thanks to Stork, Injective successfully integrated a Real-World Asset (RWA) specific oracle during its Altaris mainnet update, bolstering its capacity to deliver tokenized asset options with reliable and secure data feeds.
Instead of tracking just the value of the underlying assets, this perpetual market index focuses on the actual supply dynamics of the BUIDL Fund itself. This method caters to the increasing interest in monitoring the inflows and outflows of the BUIDL Fund, which has recently become a barometer for institutional interest in the crypto space.
Injective Broadens Access to BlackRock’s BUIDL Fund for a Wider Audience
In the past, only institutions willing to invest a minimum of $5 million could participate in the BUIDL Fund. However, with the introduction of the BUIDL Index perpetual futures market, anyone around the world can now dive in with just a minimum investment of $1. This alteration transforms a once exclusive asset class into a more accessible opportunity for many.
This innovative product will be available through various decentralized applications (dApps) on the Injective platform, including Helix. This arrangement represents a new portal to the tokenized fund, which is distinguished by the lowest transaction costs and the quickest processing speeds in the cryptocurrency landscape.
Injective Injective is a high-speed, interoperable Layer 1 blockchain specifically crafted to empower the growth of leading Web3 finance applications. It provides developers with a suite of sophisticated plug-and-play modules to facilitate the development of outstanding dApps.
Recently, Injective completed the Altaris mainnet upgrade, implementing a series of enhancements aimed at improving blockchain speed and overall performance. This upgrade also introduced the integration of Wasm 2.0, equipping developers with essential tools for creating advanced dApps, along with IBC hooks and PFM to bolster cross-chain functionality. Additionally, RWA oracles were integrated to supply data on tokenized asset products, among other significant improvements.
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