BlackRock凭借其USD机构数字流动性基金（BUIDL）迈出了分散融资（DEFI）的重要一步。

周四，贝莱德（Blackrock）宣布了该基金通过Euler的Defi协议的第一个直接集成，Euler是Avalanche区块链上流行的贷款平台。

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.

贝莱德（Blackrock）是全球最大的资产经理，凭借其美元机构数字流动性基金（BUIDL）迈出了分散的金融（DEFI）。周四，贝莱德（Blackrock）宣布了该基金与DEFI协议的首次直接集成 - Euler是雪崩区块链上的流行贷款平台。这种集成标志着机构金融进入基于区块链的分散生态系统的重要里程碑。

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.

该集成是由区块链创新者RE7实验室开发的，并具有证券化，Merkl以Avax奖励的形式提供了其他激励措施。这些激励措施旨在鼓励Sbuidl代币持有者（ERC-20代币版本的Buidl）参与，使投资者在使用Defi工具时获得了额外的奖励。

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发行的Vault系统的Securitize解释说，这种新功能通过将传统资产稳定性与DEFI的动态收益机会相结合来优化价值主张。

Blackrock Backed sBUIDL Launches on Avalanche

贝莱德支持的Sbuidl在雪崩上发射

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.

证券化将SBUIDL引入了Buidl Fund铸造的可组合区块链的ERC-20令牌。投资者将Buidl的股票锁定为美国国库短期账单和回购协议的支持。这些令牌可为基础的Buidl股票保持完整的1：1兑换性，以确保投资者获得稳定的，政府支持的资产的曝光率保持不变，同时又获得了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.

通过这种集成，Sbuidl持有人现在可以将其令牌用作雪崩生态系统中Euler贷款平台上的抵押品。它使他们能够借用USDC或Avalanche的本地AUSD等Stablecoins，同时获得Avax奖励并从Buidl基金产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.

由于其高吞吐量，EVM兼容性，次秒交易终止性和低交易费用，因此选择了雪崩的区块链网络进行这种创新的集成。这些功能使雪崩成为寻求效率和可扩展性的机构部署的理想环境。

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基金的价值超过5亿美元，目标是稳定的每标记价值1美元，并直接向投资者的钱包支付股息。与其他区块链网络相比，雪崩高效的基础设施降低了基金的运营成本，从而进一步提高了投资者的回报。

BlackRock Brings Institutional Assets to DeFi via BUIDL

BlackRock通过Buidl将机构资产带到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.

贝莱德（BlackRock）将Buidl与Defi协议集成的举动强调了传统金融机构探索区块链技术以扩大投资机会的更广泛趋势。通过将一项投资于美国短期政府债务进行投资的基金，BlackRock为机构投资者提供了一个熟悉的资产类别，具有通过区块链增强的灵活性。

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.

这项合作不仅为Defi空间带来了稳定和信誉，而且还为您开放了新的途径，以产生闲置现金或Stablecoin Holdings。它标志着大型金融机构迈向主流采用Defi工具的关键一步。

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.

雪崩在这一发展中的作用进一步扩大了区块链对JP Morgan，Citi，Citi，Wellington Management，KKR和Franklin Templeton等资产经理的吸引力，他们都已经整合或正在探索雪崩的数字资产策略。