Ethena and Securitize proposes USDTB for the Grand Prix of Spark, worth $ 1 billion
Ethena and Securitize proposes USDTB for the Grand Prix of Spark, worth $ 1 billion
- The proposal by Ethena and Securitize is checked by a committee for its suitability.
- If the proposal is accepted, it will improve liquidity and stability within the Sky ecosystem.
- USDTB, supported by BUIDL from Blackrock, offers a stable, RWA-based risk profile.
ETHENA Labs and the Securitize tokenization platform have submitted a common proposal to present Ethenas new StableCoin USDTB in the TOKENization Grand Prix of Spark worth $ 1 billion.
The 1-billion dollar tokic token-grand-prix competition aims to integrate real assets (RWAS) into defi by offering selected participants liquidity, which further expands the scope of tokenized assets in decentralized ecosystems.
The proposal submitted by Ethena and Securitize
The heart of Ethenas proposal is a unique swap function between USDTB and its synthetic stable coin.
This innovation would enable the participants of the Sky Ecosystem-formerly Makerdao-to dynamically manage liquidity and risks based on the prevailing market conditions and interest-hits. The possibility of redistribution between these stable coins should improve financial flexibility and stability within the ecosystem.
ETHENA's contribution to the Sky ecosystem is considerable and generates annual sales of almost $ 120 million. The integration of USDTB could further increase the performance of Usde, especially under difficult financing conditions, in which the composition of its cover is dynamically adapted.
USDTB, whose start next week is supported by the USD Institutional Digital Liquidity Fund (Buidl) from Blackrock, a tokenized US financial fund on Ethereum blockchain. With a managed tokenized assets of over $ 533 million, Buidl offers a solid basis for USDTB and offers an alternative risk profile compared to Usde.
While Usde derivative security strategies begins and is subject to the fluctuations in the cryptocurrency market, the support of USDTB with traditional financial instruments offers a more conservative option.
The proposal is included by a body that belongs to Phoenix Labs and Steakhouse Financial, based on criteria such as liquidity, price competitiveness and orientation towards the strategic goals of Spark. The Sky token owners will ultimately decide on the final selection by a governance vote.
Source: Coinlist.me