Manta Network’s wUSDM Now Backed by BlackRock’s BUIDL Fund
Manta Network has exciting news for all crypto enthusiasts! The on-chain yield-bearing stablecoin, wUSDM, deployed by Mountain Protocol on Manta Pacific, is now backed by BlackRockβs BUIDL Fund. This partnership, facilitated through Securitize, BlackRockβs transfer agent and tokenization platform, marks a significant milestone in the security and growth of wUSDM holders.
Enhanced Security with BlackRock’s BUIDL Fund
- Historically backed by U.S. Treasury bills, USDM stablecoin now has the additional support of BlackRockβs BUIDL Fund.
- This collaboration enhances the security and yield potential of Mountain Protocolβs wrapped USDM (wUSDM).
- Holders of wUSDM can now benefit from the custodianship of BlackRock, a globally recognized asset management firm.
BUIDL Fund Features and Benefits
- The BUIDL Fund symbolizes BlackRockβs commitment to merging blockchain technology with traditional financial assets.
- It offers a stable value of $1 per token and pays daily accrued dividends directly to investorsβ wallets.
- With 100% of its assets invested in cash, U.S. Treasury bills, and repurchase agreements, the BUIDL Fund ensures secure and transparent yield generation on the blockchain.
RWAs on Manta Pacific and Manta CeDeFi
The collaboration between Manta Network and BlackRock highlights Manta Networkβs dedication to improving the security, utility, and use cases of Real-World Assets (RWAs) available on Manta Pacific. The enhanced security and potential yield of wUSDM backed by BlackRock’s BUIDL Fund offer an attractive opportunity for users within the Manta Network ecosystem.
Introducing Manta CeDeFi
- Manta CeDeFi is the latest innovative product from Manta Network, providing institutional-grade yield and security on RWAs.
- Participants can stake wUSDM to earn yield and receive mUSD, a Liquid Custody Token (LCT) on Manta Pacific, for additional rewards and improved capital efficiency.
About Manta Network
Manta Network is a revolutionary modular blockchain tailored for zero-knowledge (ZK) applications. Its modular L2 ecosystem, Manta Pacific, caters to EVM-native ZK applications and dApps, striving to offer cost-effectiveness and exceptional user experiences. Leveraging Mantaβs Universal Circuits for ZK-as-a-Service and Celestiaβs data availability for modularity, Manta Pacific provides an optimal environment for ZK-enabled applications.
Founded by industry experts from prestigious institutions like Harvard, MIT, and Algorand, Manta Network has secured investments from leading web3 investment funds such as Binance Labs and Polychain Capital. They have also participated in esteemed web3 accelerators like Alliance DAO and Berkeley Blockchain Xcelerator.
Hot Take: Embracing a New Era of Security and Yield with wUSDM Backed by BlackRock
Dear crypto enthusiasts, the collaboration between Manta Network and BlackRock signifies a crucial step towards enhancing security and optimizing yield opportunities within the blockchain space. With the support of BlackRockβs BUIDL Fund, wUSDM holders can now enjoy a new level of trust and potential for growth. Stay tuned for more exciting developments in the world of crypto and blockchain technology!
Blount Charleston stands out as a distinguished crypto analyst, researcher, and editor, renowned for his multifaceted contributions to the field of cryptocurrencies. With a meticulous approach to research and analysis, he brings clarity to intricate crypto concepts, making them accessible to a wide audience. Blount’s role as an editor enhances his ability to distill complex information into comprehensive insights, often showcased in insightful research papers and articles. His work is a valuable compass for both seasoned enthusiasts and newcomers navigating the complexities of the crypto landscape, offering well-researched perspectives that guide informed decision-making.
