BlackRock憑藉其USD機構數字流動性基金（BUIDL）邁出了分散融資（DEFI）的重要一步。

週四，貝萊德（Blackrock）宣布了該基金通過Euler的Defi協議的第一個直接集成，Euler是Avalanche區塊鏈上流行的貸款平台。

BlackRock, the world’s largest asset manager, has taken a major step into decentralized finance (DeFi) with its USD Institutional Digital Liquidity Fund (BUIDL). On Thursday, BlackRock announced the fund’s first direct integration with a DeFi protocol—Euler, a popular lending platform on the Avalanche blockchain. This integration marks a significant milestone for institutional finance's entry into blockchain-based decentralized ecosystems.

貝萊德（Blackrock）是全球最大的資產經理，憑藉其美元機構數字流動性基金（BUIDL）邁出了分散的金融（DEFI）。週四，貝萊德（Blackrock）宣布了該基金與DEFI協議的首次直接集成 - Euler是雪崩區塊鏈上的流行貸款平台。這種集成標誌著機構金融進入基於區塊鏈的分散生態系統的重要里程碑。

The integration was developed by blockchain innovators Re7 Labs and Securitize, with additional incentives provided by Merkl in the form of AVAX rewards. These incentives aim to encourage participation from sBUIDL token holders, the ERC-20 tokenized version of BUIDL, allowing investors to earn extra rewards while engaging with DeFi tools.

該集成是由區塊鏈創新者RE7實驗室開發的，並具有證券化，Merkl以Avax獎勵的形式提供了其他激勵措施。這些激勵措施旨在鼓勵Sbuidl代幣持有者（ERC-20代幣版本的Buidl）參與，使投資者在使用Defi工具時獲得了額外的獎勵。

Securitize, which manages the vault system for sBUIDL issuance, explained that this new functionality optimizes the value proposition by combining traditional asset stability with DeFi’s dynamic yield opportunities.

管理SBUIDL發行的Vault系統的Securitize解釋說，這種新功能通過將傳統資產穩定性與DEFI的動態收益機會相結合來優化價值主張。

Blackrock Backed sBUIDL Launches on Avalanche

貝萊德支持的Sbuidl在雪崩上發射

Securitize introduced sBUIDL as a composable, blockchain-native ERC-20 token minted from the BUIDL fund. Investors lock BUIDL shares backed by short-term U.S. Treasury bills and repurchase agreements in Securitize’s vault to mint sBUIDL tokens. These tokens maintain full 1:1 redeemability for the underlying BUIDL shares, ensuring investors' exposure to stable, government-backed assets remains intact while gaining access to DeFi functionality.

證券化將SBUIDL引入了Buidl Fund鑄造的可組合區塊鏈的ERC-20令牌。投資者將Buidl的股票鎖定為美國國庫短期賬單和回購協議的支持。這些令牌可為基礎的Buidl股票保持完整的1：1兌換性，以確保投資者獲得穩定的，政府支持的資產的曝光率保持不變，同時又獲得了Defi功能。

Through this integration, sBUIDL holders can now use their tokens as collateral on Euler’s lending platform within the Avalanche ecosystem. It enables them to borrow stablecoins such as USDC or Avalanche’s native AUSD, all while earning AVAX rewards and benefiting from the underlying yield generated by the BUIDL fund.

通過這種集成，Sbuidl持有人現在可以將其令牌用作雪崩生態系統中Euler貸款平台上的抵押品。它使他們能夠借用USDC或Avalanche的本地AUSD等Stablecoins，同時獲得Avax獎勵並從Buidl基金產生的基本收益中受益。

Avalanche’s blockchain network was chosen for this innovative integration due to its high throughput, EVM compatibility, sub-second transaction finality, and low transaction fees. These features make Avalanche an ideal environment for institutional deployments seeking efficiency and scalability.

由於其高吞吐量，EVM兼容性，次秒交易終止性和低交易費用，因此選擇了雪崩的區塊鍊網絡進行這種創新的集成。這些功能使雪崩成為尋求效率和可擴展性的機構部署的理想環境。

The BUIDL fund, valued at over $500 million, targets a stable $1 per token value and pays out daily dividends directly to investors' wallets. Avalanche’s efficient infrastructure lowers the operational costs for the fund compared to other blockchain networks, further boosting investor returns.

Buidl基金的價值超過5億美元，目標是穩定的每標記價值1美元，並直接向投資者的錢包支付股息。與其他區塊鍊網絡相比，雪崩高效的基礎設施降低了基金的運營成本，從而進一步提高了投資者的回報。

BlackRock Brings Institutional Assets to DeFi via BUIDL

BlackRock通過Buidl將機構資產帶到Defi

BlackRock’s move to integrate BUIDL with a DeFi protocol highlights a broader trend of traditional financial institutions exploring blockchain technology to expand investment opportunities. By tokenizing a fund that invests in secure, short-term U.S. government debt, BlackRock offers institutional investors a familiar asset class with enhanced flexibility through blockchain.

貝萊德（BlackRock）將Buidl與Defi協議集成的舉動強調了傳統金融機構探索區塊鏈技術以擴大投資機會的更廣泛趨勢。通過將一項投資於美國短期政府債務進行投資的基金，BlackRock為機構投資者提供了一個熟悉的資產類別，具有通過區塊鏈增強的靈活性。

This collaboration not only brings stability and credibility to the DeFi space but also opens new avenues for yield generation on otherwise idle cash or stablecoin holdings. It signals a critical step toward mainstream adoption of DeFi tools by large financial institutions.

這項合作不僅為Defi空間帶來了穩定和信譽，而且還為您開放了新的途徑，以產生閒置現金或Stablecoin Holdings。它標誌著大型金融機構邁向主流採用Defi工具的關鍵一步。

Avalanche’s role in this development further amplifies the blockchain's appeal to asset managers like J.P. Morgan, Citi, Wellington Management, KKR, and Franklin Templeton, all of whom have integrated or are exploring digital asset strategies on Avalanche.

雪崩在這一發展中的作用進一步擴大了區塊鏈對JP Morgan，Citi，Citi，Wellington Management，KKR和Franklin Templeton等資產經理的吸引力，他們都已經整合或正在探索雪崩的數字資產策略。