Injective Introduces Tokenized Index For BlackRock’s BUIDL Fund
In Brief
Injective introduced tokenized index for BlackRock’s BUIDL Fund, enabling users to access it through the new on-chain financial instruments.
Blockchain platform, optimized for financial applications, Injective introduced the tokenized index for the BUIDL tokenized fund, managed by the asset management company BlackRock, enabling users to engage with it through innovative on-chain financial instruments.
BUIDL represents BlackRock‘s first tokenized fund, which was issued on a public blockchain. It offers institutional investors the opportunity to earn yields on assets like United States treasuries. Each BUIDL token is valued at a stable $1. Additionally, token holders receive a daily-accruing dividend, which is disbursed monthly.
The BUIDL Index introduces the initial perpetual market for the BUIDL Fund, providing round-the-clock access to tokenized assets like United States treasuries with leverage. This index was developed in partnership with Stork, a decentralized price feed for on-chain and off-chain data. With Stork, Injective was able to implement a Real-World Asset (RWA) specific oracle during its Altaris mainnet upgrade. This network enhances Injective’s ability to offer tokenized asset options while ensuring data feeds are precise and secure.
Rather than tracking the price of the underlying asset, this perpetual market index monitors the actual supply of the BUIDL Fund itself. This approach addresses the growing demand for tracking inflows and outflows from the BUIDL Fund, which has recently become an indicator of institutional interest in cryptocurrencies.
Injective Expands Access To BlackRock’s BUIDL Fund For Broader Audience
Previously, the BUIDL Fund was restricted to institutions with a minimum investment of $5 million. Now, however, the BUIDL Index perpetual future market is accessible to anyone globally, with a minimum investment of just $1. This change opens up the previously exclusive asset class to a broader range of users.
The new product will be available exclusively through various decentralized applications (dApps) on the Injective platform, such as Helix. This setup will provide a new entry point to the tokenized fund, characterized by the lowest fees and fastest transaction speeds in the cryptocurrency industry.
Injective is a high-speed, interoperable Layer 1 blockchain designed to support the development of leading Web3 finance applications. It offers developers a range of advanced plug-and-play modules, facilitating the creation of exceptional dApps.
Last month, Injective completed its Altaris mainnet upgrade, which introduced several optimization improvements to enhance blockchain speed and performance. The upgrade also included the integration of Wasm 2.0, providing essential tools for developing advanced dApps, as well as IBC hooks and PFM for improved cross-chain functionality. Additionally, RWA oracles were incorporated to offer data on tokenized asset products, among other enhancements.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
