随着贝莱德（Blackrock）扩大其Buidl基金

5月27日，令牌终端报告了代币化的现实资产和新的投资策略的增长。他们强调了资产管理人员如何整合区块链解决方案

On May 27, Token Terminal reported on the growing trends of tokenized real-world assets and new investment strategies being deployed by asset managers to integrate blockchain solutions for broader financial market access.

5月27日，令牌终端报道了资产经理部署的令牌现实资产和新投资策略的日益增长的趋势，以整合区块链解决方案，以供更广泛的金融市场访问。

One case highlighted was the BlackRock USD Institutional Digital Liquidity Fund expanding across multiple blockchain networks. A graph from BUIDL’s website showed that this tokenized money market fund had nearly three billion dollars in assets under management by late May. Among the networks, Ethereum was the largest host for these tokenized real-world assets, with other chains like Aptos and Avalanche each having over fifty million dollars.

强调的一个案例是贝莱德（BlackRock USD）机构数字流动性基金在多个区块链网络中扩展。 Buidl网站上的一张图显示，该标记的货币市场基金在5月下旬之前管理了近30亿美元的资产。在网络中，以太坊是这些令牌现实世界中最大的主机，其他连锁店等连锁店都拥有超过五千万美元。

RWA Market AUM Breakdown Highlights Ethereum’s Dominance

RWA市场AUM崩溃突出了以太坊的主导地位

This chart from mid-May shows a snapshot of BUIDL's total assets under management across various blockchains. Ethereum held the majority with about 2.715 billion dollars of the total. Other large chains like Aptos and Avalanche had just over 50 million dollars each. Smaller chains like Arbitrum, Polygon, and Solana had less than 30 million dollars. These figures highlight Ethereum's dominant role. However, other networks are steadily gaining ground in the asset tokenization domain.

这张五月中期的图表显示了Buidl在各种区块链中管理的总资产的快照。以太坊以总数约为27.15亿美元的总数。 Aptos和Avalanche（例如Aptos和Avalanche）的其他大型连锁店刚刚超过5000万美元。诸如仲裁，多边形和索拉纳（Solana）等较小的连锁店的链条少于3000万美元。这些数字突出了以太坊的主要作用。但是，其他网络在资产令牌化领域中稳步增长。

This signifies a broader adoption of these financial products beyond a single platform. The increasing interest in blockchain diversification bodes well for the market's resilience and capacity for competitive innovation.

这表明除了单个平台之外，对这些金融产品的广泛采用。对区块链多元化的兴趣日益增强，可以很好地实现市场的韧性和竞争创新能力。

Securitize Powers Compliance and Token Creation for BlackRock’s BUIDL

证券化的权力合规性和黑石公司的代币创建

The BlackRock USD Institutional Digital Liquidity Fund is a tokenized money market fund that invests in short-term, low-risk debt instruments. It issues BUIDL tokens which are fully backed by short-term U.S. Treasury bills. The BUIDL tokens pay daily dividends to investors based on the yield of the underlying assets. Investors can access BUIDL on Ethereum, Solana, and Arbitrum.

BlackRock USD机构数字流动性基金是一个标记的货币市场基金，以短期，低风险的债务工具进行投资。它发出了Buidl令牌，并得到了美国短期美国国库券的完全支持。 Buidl代币根据基础资产的收益率向投资者支付每日股息。投资者可以访问以太坊，索拉纳和仲裁的Buidl。

Securitize is the company that manages the creation of BUIDL tokens and ensures they are compliant with financial regulations. They essentially serve as a bridge between traditional finance and blockchain technology by facilitating the issuance of legally recognized digital assets. This approach provides a regulated way to hold shares of funds in a tokenized format.

Securitize是管理Buidl代币并确保其符合金融法规的公司。通过促进合法认可的数字资产的发行，它们本质上是传统金融和区块链技术之间的桥梁。这种方法提供了一种以令牌化格式持有资金股份的监管方式。

Securitize also enables the conversion between BUIDL and sBUIDL tokens through a digital vault service. Investors who wish to participate in DeFi protocols can lock their BUIDL tokens in the vault to receive sBUIDL tokens. These sBUIDL tokens can then be used as collateral in lending protocols like Euler or for liquidity provision in decentralized exchanges. BUIDL is designed for stable yield income while sBUIDL is made for additional decentralized use cases.

Securitize还可以通过数字保险库服务来实现Buidl和Sbuidl令牌之间的转换。希望参加DEFI协议的投资者可以将其Buidl令牌锁定在金库中，以接收SBUIDL令牌。然后，这些SBUIDL令牌可以用作Euler等贷款方案中的抵押品，或用于分散交易所中的流动性提供。 BUIDL是为稳定的收益收入而设计的，而SBUIDL则用于额外的分散用例。

This service offering from Securitize creates a seamless linkage between regulated financial products and open decentralized finance applications. It guarantees compliance with regulations and facilitates broader access to new markets. Investors benefit by retaining exposure to the fund's yield and gains while having the flexibility to participate in decentralized borrowing options or liquidity provision.

这项由证券化提供的服务在受监管的金融产品和开放分散的金融应用程序之间建立了无缝的联系。它保证遵守法规，并促进更广泛进入新市场的机会。投资者通过保留对基金收益率和收益的利益而受益，同时具有参加分散借贷方案或流动性提供的灵活性。

Euler’s Liquidity Access and Wormhole’s Cross-Chain Accessibility

Euler的流动性进入和蠕虫的跨链可访问性

Institutions and crypto traders can access liquidity from sBUIDL tokens on protocols like Euler. People who deposit sBUIDL tokens can borrow stablecoins like USDC or AUSD. This allows investors to gain liquidity without selling their BUIDL tokens to obtain capital for other investments. They still receive daily yield from the BUIDL tokens and interest on the borrowed stablecoins.

机构和加密货币交易者可以从SBUIDL代币访问Euler等协议的流动性。存放Sbuidl代币的人可以借用USDC或AUSD等稳定的人。这使投资者可以在不出售其Buidl代币的情况下获得流动性，以获得其他投资的资本。他们仍然从Buidl代币中获得每日收益，并在借用的稳定股中获得利息。

Euler’s modular design enables the creation of custom markets with varied collateral rules. Developers can set liquidation parameters, adjust borrowing rates, and design specialized interest rate models for unique yield optimization strategies. Borrowers can also earn additional rewards on specific networks when using sBUIDL tokens for borrowing activities.

Euler的模块化设计可以通过各种抵押规则创建定制市场。开发人员可以设置清算参数，调整借贷率并设计专门的利率模型，以实现独特的收益优化策略。在使用SBUIDL令牌进行借款活动时，借款人还可以在特定网络上获得额外的奖励。

For cross-chain movements of BUIDL tokens, services like Wormhole provide seamless transfer capabilities. It enables the interconnection of major blockchains like Ethereum, Solana, Avalanche, and others. This supports the integration of a multi-chain ecosystem where investors can interact across various platforms.

对于Buidl代币的跨链运动，诸如虫洞之类的服务提供了无缝的转移功能。它可以使以太坊，索拉纳，雪崩等重大区块链互连。这支持了一个多链生态系统的集成，投资者可以在各个平台上进行交互。

The AUM data clearly shows Ethereum’s dominance but also highlights the increasing traction of newer chains. Aptos and Avalanche each have over fifty million dollars in assets under management, while Arbitrum, in particular, is rapidly gaining ground. These trends suggest a broader diversification of tokenized real-world assets across multiple blockchains.

AUM数据清楚地显示了以太坊的主导地位，但也突出了新链的牵引力的增加。 Aptos和Avalanche各自拥有超过500万美元的管理资产，而仲裁尤其是迅速发展。这些趋势表明，在多个区块链之间，令牌化现实世界中的资产的多元化更广泛。

This could be a positive development as it may lead to more innovation and risk distribution. However, it’s crucial to note that despite these advancements, investments in blockchain-based products still come with several risks. The price of BUIDL tokens is not guaranteed to remain stable at one dollar per token at all times.

这可能是一个积极的发展，因为它可能导致更多的创新和风险分配。但是，至关重要的是，尽管有这些进步，但对基于区块链的产品的投资仍然有几种风险。 Buidl代币的价格始终保持稳定，始终以1美元的价格保持稳定。

Moreover, there is still regulatory uncertainty in the crypto sector, which could impact the performance of these products. Additionally, these products are susceptible to known and unknown risks like defects in smart contracts, fraud, and theft. The services offered by companies like Securitize and Euler help to mitigate some of these risks and improve the usability of blockchain-based products. But it’s important to understand that they cannot

此外，加密部门仍然存在监管不确定性，这可能会影响这些产品的性能。此外，这些产品容易受到已知和未知风险的影响，例如智能合约，欺诈和盗窃中的缺陷。 Securitize和Euler等公司提供的服务有助于减轻其中一些风险，并提高基于区块链的产品的可用性。但是重要的是要了解他们不能