The Manta Foundation Allocates Stable Crypto Assets to wUSDM
The Manta Foundation has strategically allocated its stable crypto assets within the Treasury into wUSDM, a yield-bearing stablecoin by Mountain Protocol. This move, supported by BlackRock’s BUIDL Fund and managed by Securitize, is set to enhance financial security and stability within Manta Network.
Understanding wUSDM and Mountain Protocol
USDM, a stablecoin deployed by Mountain Protocol, historically backed by U.S. Treasury bills, has gained additional support from BlackRock’s BUIDL Fund. With a market capitalization of $153 million, USDM ranks as the third-largest Real-World Asset (RWA) protocol by total value locked (TVL).
- wUSDM is Mountain Protocol’s Liquid Staking Token (LST) deployed on Manta Pacific.
- It offers stability and yields by being backed by U.S. Treasury bills and BlackRock’s BUIDL Fund.
Diversifying and Strengthening Treasury Assets
The allocation aligns with Manta Foundation’s vision to diversify and strengthen Treasury assets, ensuring sustainable growth. This diversification aims to provide added stability and potential yield gains through wUSDM.
Yield Opportunities with wUSDM
Manta Pacific’s initiatives like New Paradigm and Renew Paradigm have introduced Mountain Protocol’s yield-bearing stablecoins, offering significant yield opportunities within the DeFi ecosystem.
- During the New Paradigm campaign, users staked USDC to receive wUSDM, minting over $132 million worth of wUSDM.
- This allowed participants to tap into additional yield opportunities from wUSDM’s nature.
Bridging Traditional Finance and DeFi
The support from U.S. Treasuries and BlackRock’s BUIDL Fund showcases the bridging of real-world assets between Traditional Finance (TradFi) and DeFi. Manta’s users benefit from on-chain treasury yields, highlighting the role of RWAs in modern financial ecosystems.
Conclusion
By allocating a portion of its reserve to wUSDM, the Manta Foundation is committed to enhancing financial security and stability within Manta Network. Leveraging traditional financial benefits through Mountain Protocol’s wUSDM aims to provide increased yield opportunities and a stronger ecosystem for the community.
Learn More About Manta Network
Manta Network is a modular blockchain for zero-knowledge (ZK) applications, tailored for EVM-native ZK applications and dApps within the Manta Pacific ecosystem. Offering low gas fees and optimal user experiences, Manta leverages Universal Circuits for ZK-as-a-Service and Celestia’s data availability for modularity.
Founded by a team from prestigious institutions like Harvard, MIT, and Algorand, Manta Network has garnered investments from leading Web3 funds such as Binance Labs and Polychain Capital. The network’s growth is fueled by accelerators like Alliance DAO and the Berkeley Blockchain Xcelerator, paving the way for the next generation of Web3 users.
Stay connected with Manta Network on their various platforms: Website, Twitter, Discord, and Telegram Announcements.
Hot Take: Seizing Yield Opportunities with Manta Network’s wUSDM
As a crypto enthusiast, exploring yield opportunities within Manta Network’s wUSDM stablecoin backed by U.S. Treasuries and BlackRock’s BUIDL Fund can offer added financial security and potential gains. By bridging TradFi and DeFi, Manta Network opens the door to a stronger, more diversified ecosystem with enhanced yield possibilities. Stay tuned as Manta Network continues to drive innovation and growth in the Web3 space! 🚀
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