Originally published on: November 29, 2024
Curve decentralized exchange has partnered with blockchain network Elixir to enhance access to decentralized finance (DeFi) for BlackRock’s tokenized money market fund. This collaboration opens up exciting opportunities for tokenholders to mint Elixir’s yield-bearing stablecoin, deUSD, against BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
Through Curve’s liquidity pools, users can swap deUSD for other popular DeFi stablecoins like USD Coin (USDC), Tether (USDT), and Frax. With up to $1 billion in institutional real-world assets now backing deUSD, this partnership is set to revolutionize the DeFi landscape.
Liquidity providers can earn generous rewards by participating in the Curve pools, with APRs reaching as high as 40% for deUSD stakers. Curve, boasting nearly $2 billion in total value locked (TVL), is already a leader in decentralized exchanges.
Tokenized by Securitize, BlackRock’s BUIDL is the largest Treasury fund in the market, investing primarily in low-risk, interest-bearing securities. Tokenized Treasury products have seen a surge in demand, with approximately $2.5 billion in TVL as of recent data.
The potential for tokenized real-world assets (RWAs) is immense, with a global market opportunity of $30 trillion as estimated by industry experts. Stay tuned for more updates on this exciting collaboration and the evolving DeFi landscape.
