|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Centrifuge Wants Polkadot To Invest $3 Million In T-Bills
Sep 11, 2024 at 03:30 am
In a proposal, the RWA platform suggests that the newly created Polkadot Community Foundation allocates $3 million USDC to their T-Bill pool.
Real-world asset (RWA) solution Centrifuge has proposed that the newly created Polkadot Community Foundation allocate $3 million USDC to their T-Bill pool, which is held within the Anemoy Liquid Treasury Fund.
The platform argues that this move will benefit the broader ecosystem by boosting the long-term sustainability of the Polkadot Treasury. The T-Bill pool will generate stable yields from RWAs, which will ultimately increase the financial health of the Treasury.
According to Centrifuge, allocating the funds to T-Bill as an investment will also increase the network’s total value locked (TVL) and expand the Treasury’s assets.
The foundation might consider investing in RWAs, as proposed by Centrifuge, to foster the growth of this technology within Polkadot, pushing adoption and growth as a result.
In their proposal, Centrifuge highlights that this move aligns with the foundation’s previous investment in the Anemoy Liquid Treasury Fund. It also presents a unique opportunity for Polkadot to diversify and expand its investment basket, especially now that tokenization and RWA are picking up momentum.
BlackRock, one of the top asset managers in the world, is leading the tokenization of treasury bills. On Ethereum, the asset manager has launched BUIDL, a platform where institutions can invest in tokenized Treasury bills. As of September 10, BUIDL is the largest tokenized Treasuries provider, with over $514 million in assets under management, according to RWA.xyz.
The proposal is garnering community support, with over 53% agreeing to this proposal roughly a week before the decision. However, some community members are expressing concerns.
Most of them point to the potential risks and the negative implications of this on the network’s Treasury. One concern is that if this is approved, it could increase DOT spending requests, eventually leading to a decrease in the foundation’s reserves.
While the prospect of RWA taking off in Polkadot is bullish, DOT is still under pressure. From the daily chart, DOT is down roughly 65% from March highs. It is also in a descending channel and retesting multi-month support.
The primary support lies at around $3.5. On the upper end, resistance is at $5. A break above this line will lift sentiment, leading to a buy trend continuation formation towards $6.5.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
-
- Worldcoin (WLD) Finds Balance Amid Market Volatility, Its $2.01 Liquidation Pool a Potential Game-Changer
- Oct 13, 2024 at 11:45 am
- Worldcoin (WLD) has become a focal point in the crypto market, displaying impressive resilience despite volatile capital movements. With a liquidation pool holding firm at $2.01, the cryptocurrency has been able to weather recent price swings.
-
- Stacks (STX) Price Struggles as Nakamoto Upgrade Delay Frustrates Community
- Oct 13, 2024 at 11:45 am
- Stacks network is currently experiencing a wave of frustration among its users due to delays in the much-anticipated Nakamoto upgrade, which many believe could significantly enhance the platform's functionality.
-
-
-
- Tim Walz Returns Home to Mankato to Mark Pheasant Hunting Season and Visit Former School
- Oct 13, 2024 at 11:05 am
- As a high school marching band played a rendition of Neil Diamond’s “Sweet Caroline,” Minnesota Gov. Tim Walz walked down the 50-yard line at Friday’s crosstown rivalry football game between Mankato East High School and Mankato West High School.
-
- NEIRO Makes a Grand Entrance into the Top 100 Cryptos as Whales Accumulate, A Possible 50% Surge Beckons
- Oct 13, 2024 at 11:05 am
- NEIRO has been a performer this past week despite broader market uncertainty. The token has risen 65.86% over the past week, with a formidable 24-hour trading volume of $605 million, and the token's market cap has now reached $743 million.
-
-
- Memes Lab: A New Meme-Themed Telegram Game That Uses the Tried and Tested Recipe Popularized by Hamster Kombat and Other Tap-to-Earn Apps
- Oct 13, 2024 at 11:00 am
- By collecting coins in the Meme Labs app, players become eligible for a token airdrop, which means that the in-game rewards will be transferable to real-world value.