Curve, Elixir, BlackRock: A $533M Bridge to DeFi

Curve Finance is already known for being a top place to trade stablecoins, like USDC and USDT, in a way that’s safe and decentralized. Now, with the help of BlackRock and other institutional investors, Curve’s role is getting even bigger. The partnership allows up to $1 billion in real-world assets to be turned into deUSD, a digital dollar that earns interest. It’s now using Elixir’s deUSD protocol.

The big idea behind this partnership is to bring real-world money, like U.S. Treasury bills, into the DeFi world. This is possible through Securitize , a company that helps turn real-world assets into digital tokens. These tokens can then be traded and used in DeFi, just like regular cryptocurrency. BlackRock’s $533 million fund, called BUIDL (BlackRock USD Institutional Digital Liquidity), is the first example of this new wave of tokenized investments.

Curve enables @BlackRock (BUIDL) to enter DeFi. Thanks to @elixir for making it happen https://t.co/SqETddHpNa

— Curve Finance (@CurveFinance) November 29, 2024

BUIDL invests in secure, traditional assets like U.S. Treasury bills, making sure that each token is worth exactly one dollar. Investors who hold these tokens get monthly rewards sent directly to their digital wallets. Right now, the fund has $440 million on Ethereum, and the rest is spread out across other networks.

Elixir Powers deUSD with Curve for Fast-Growing Liquidity

Elixir is a blockchain network that helps with orderbook exchange infrastructure. This protocol supports deUSD, a yield-earning digital dollar backed by U.S. Treasuries and Ethereum assets like stETH. Since its launch, deUSD has grown quickly, reaching over $160 million in just four months.

Introducing Elixir’s “deUSD RWA Institutional Program” – a first ever partnership with Securitize

After months of design and $1B+ of capital interest, this joint program allows Blackrock BUIDL and other RWA holders to seamlessly access DeFi using deUSD as the primary currency pic.twitter.com/rbUTNNadYr

— Elixir (@elixir) November 19, 2024

Finally, Elixir chose Curve as its main platform for liquidity. And so far, $64 million of Elixir’s $110 million in total liquidity is available in four trading pools. Liquidity providers, or people who add their money to these pools, earn rewards. This is through trading fees and special Elixir “Potions.” So, they can earn up to 10 times more rewards by staking their tokens in Elixir’s “Apothecary” system.

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