Elixir leverages Curve to bring BlackRock's BUIDL into Decentralized Finance

2024-11-29 20:20:27

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Coin World News, Decentralization exchange Curve announced on November 29th that it is partnering with the blockchain network Elixir to tokenize BlackRock’s Institutional Digital Liquidity Fund and bring it into the world of Decentralized Finance (DeFi). According to Curve’s statement, Tokenholders will soon be able to use BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) as Collateral to mint Elixir’s yield-bearing Stable Coin, deUSD. Subsequently, these users can exchange deUSD for other Decentralized Finance Stable Coins such as USD Coin (USDC), Tether (USDT), and Frax in Curve’s Liquidity pool. Curve stated, “Up to $1 billion of real-world assets (RWA) can now be used to mint deUSD, which is a yield-bearing synthetic dollar.” According to the announcement, Curve has become the primary platform for trading and Liquidity of deUSD, with approximately $64 million in its Liquidity pool, accounting for about 60% of the total Liquidity. Meanwhile, Liquidity Providers (LPs) can earn rewards by providing Liquidity to these pools. According to the Elixir official website, the Annual Percentage Rate (APR) for some deUSD stakers can be as high as 40%.

CRV-0.93%

DEFI5.47%

USDC0.01%

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