BlackRock BUIDL Fund Completes First DeFi Protocol Integration, Connects to Avalanche On-Chain Lending Platform Euler
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Odaily Planet News: BlackRock's nearly $3 billion tokenized government bond fund BUIDL has completed its "first direct DeFi protocol integration" by connecting to the Euler protocol on Avalanche. The integration is based on the sToken framework developed by Securitize, enabling further on-chain expansion of BUIDL token products. sBUIDL is a composable ERC-20 Token that can be fully exchanged for the BUIDL fund. Developed by Re7 Labs, this integration allows users to borrow USDC or AUSD using sBUIDL as collateral and earn AVAX rewards and underlying returns from the BUIDL fund. Euler stated: "It transforms BUIDL into a composable ERC-20, achieving on-chain utility without affecting its exchangeability."
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