As a seasoned crypto investor with a knack for spotting promising opportunities, I find the recent announcement of sUSD, a yield-bearing stablecoin backed by U.S Treasury bills on Solana, incredibly intriguing. My life in this dynamic world of digital assets has taught me to always keep an eye out for innovative solutions that democratize access to financial markets.
According to an announcement made on October 28th, Solayer and OpenEden plan to introduce a digital currency, which provides returns (yield), that is secured by US Treasury bonds and operates on the Solana network (SOL).
As a crypto investor, I’ve recently learned about sUSD, which is set to be the initial foray into a series of tokenized real-world assets (RWAs) that Solayer aims to debut on the Solana blockchain. According to their announcement on the X platform, this is just the beginning of what they have planned.
Solayer stated that it’s possible for individuals to gain access to tokenized real-world assets, such as U.S. Treasury Bills, if they have a $5 investment.
Solayer is a Solana-based restaking protocol and OpenEden specializes in RWA tokenization.
The sUSD protocol is designed as a request for quote (RFQ) marketplace, according to Solayer.
As a researcher, I engage with the system where users deposit USD Coin (USDC), a stable digital currency. Then, they’re connected with various tokens representing Real-World Assets (RWA) that have been tokenized by Solayer. This newly acquired token is referred to as a Liquid RWA Token (LRT), providing a more fluid form of investment in real-world assets.
According to its own site, Solayer excels at staking the SOL token and has helped lock in a total value of approximately $300 million so far.
Restaking refers to the process of utilizing a previously staked token, which serves as collateral with a validator to earn rewards, and then employing this same token to support multiple other blockchain protocols concurrently.
EigenLayer, the most significant re-staking platform, safeguards around forty different protocols, holding roughly $11 billion worth of re-staked collateral on Ethereum, as reported by DefiLlama.
According to reports compiled by Tren Finance, which gathered insights from major financial institutions and consultancy firms, it’s predicted that the market for tokenized Real Asset Warrants (RAWs) could expand up to 50 times by the year 2030.
Worldwide, the combined market potential for Real-World Assets (RWAs), which encompass tokenized financial assets, commodities, and art, is estimated to be approximately $30 trillion, according to Colin Butler, Polygon‘s global head of institutional capital, as shared with CryptoMoon in August.
According to the report, stablecoins are currently the most preferred form of tokenized Representative Assets (RWAs). However, there’s a growing interest in tokenizing assets that offer high liquidity and returns such as U.S. Treasury bills, which could lead to increased demand for these types of products.
Among all funds, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and the Franklin OnChain US Government Money Fund (FOBXX) have the highest asset holdings, managing around $520 million and $440 million each.
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2024-10-29 22:12