According to Foresight News , CoinDesk reports that crypto incubation platform Obex has raised $37 million to support the development of a yield-generating stablecoin led by Framework Ventures, LayerZero, and the Sky ecosystem. The initiative aims to invest in and fund projects that bring real-world asset-backed strategies to on-chain, introducing institutional-grade risk control and underwriting practices to the rapidly evolving industry.
Obex will become the latest capital allocator for Sky, formerly known as MakerDAO, the entity behind the DAI and USDS stablecoins with a total market capitalization of $9 billion. Obex will provide funding for the project, enabling it to scale using the protocol's reserves and generate returns from its strategies. Teams that pass risk and governance reviews may be eligible for additional funding from Sky, which recently authorized up to $2.5 billion in USDS to be allocated to the Obex project in a governance vote.
The program will focus on stablecoins backed by high-quality real-world collateral, with a focus on three key areas: computational credit, such as tokenized GPU infrastructure; energy assets, such as municipal-scale solar and battery deployments; and loans to large fintech companies. The incubator will provide early-stage teams with funding, technical resources, and access to Sky's infrastructure for a 12-week program.
