Spark has announced that BlackRock, Superstate and Centrifuge are the winners of his tokenization Grand Prix. The aim is to allocate $ 1 billion in tokenized assets, with the Buidl Fund of BlackRock being established to receive half of it.
The competition, launched in July 2024, has assigned funds via the Spark Liquuidity Layer (SLL). The initiative was aimed at integrating real-world assets (RWAS) to diversify the balance of Spark and at the same time expanding the acceptance of the Stablecoin in Defi.
The final allocation remains subject to Sky (formerly Makerdao) Governance approval, with a vote planned for 3 April.
If approved, the initiative will also invest $ 300 million in the USTB of Superstate and $ 200 million in Jtrsy of Centrifuge-Anemoy Janus Henderson.
Currently, the Spark Liquidity Layer contains USDC, USDS, Suss, Usde and Susde. The protocol will use these stablecoins to add Puidl, USTB and Jtrsy.
Add rwas to the treasury
Competition attracted 39 applications, assessed by Steakhouse Financial, a company that specializes in RWAS within the Spark -Ecosystem.
Applicants were assessed on the basis of the prices of transparency, liquidity levels and strategic coordination with Spark’s objectives.
Spark chose each of these RWA -Tokens supported by American Treasury Securities, which suggests a preference for liquid and conservative assets.
Buidl is offered by BlackRock and tokenized by Securitize. The money fund invests in American Treasury accounts, return agreements and cash.
Buidl is the largest tokenized money fund, with more than $ 1.2 billion in market capitalization from March 18. Spark’s incoming investment could propel almost $ 2 billion.
In the meantime, the USTB of Superstate focuses on American treasury accounts that ripen in six months or less, which guarantees a predictable and safe yield. It is considerably smaller than Puidl, with $ 370 million participation in the market.
Finally, the Jtrsy of Centrifuge-Anemoy Janus Henderson allocates money to an American Treasury Fund that reinvests in new issues as existing effects that are growing up. With a market capitalization of $ 32.4 million, Jtrsy is also the smallest of the three tokenized funds that may receive the investment from Spark.
If approved, Spark’s investments in BlackRock/Securitize, Superstate and Centrifuge will mark an important step in integrating Tokenized RWAS in Defi infrastructure.
State in this article
