Tag: Token

Web3 Automation Provider Ava Protocol’s Demand Surges 900% Ahead Of Token Launch

boss

Ava Protocol, the event-driven EigenLayer Active Validated Service (AVS), has seen notable growth since launching in July. The Web3 automation provider reported a significant increase in demand for its “super-transactions” solution ahead of its token launch. Web3 Automation Provider Sees 900% Demand Increase Ava protocol reported a 900% surge in demand for its blockchain automation solution.  The EigenLayer AVS offers Web3 infrastructure to support cross-chain automation, enabling composable autonomous transactions and allowing developers to deploy dApps rapidly. The protocol records $3 billion in restaked assets since launching on EigenLayer’s mainnet four months…

BlackRock in Talks With Crypto Exchanges About Using Its BUIDL Token As Derivatives Collateral: Report

boss

Asset management titan BlackRock is reportedly in talks with numerous crypto exchange platforms about using its proprietary token BUIDL as collateral for derivatives contracts. According to a new report by Bloomberg, anonymous people familiar with the matter say the world’s largest asset manager is exploring the idea of utilizing BUIDL – the crypto asset related to the firm’s tokenized mutual fund – as collateral for trading derivatives contracts. BUIDL, which launched in March of this year and stands for BlackRock USD Institutional Digital Liquidity Fund, is a tokenized money-market fund…

BlackRock eyes BUIDL token as collateral in crypto derivatives market: report

BlackRock is trying to have its digital money-market token, BUIDL, used as collateral in cryptocurrency derivatives trades.  People familiar with the discussions say the company is ‘in talks’ with major crypto exchanges like Binance, OKX, and Deribit about the possibility, according to Bloomberg. BUIDL is a token designed for qualified institutional investors, with a minimum investment of $5 million. It is a digital representation of BlackRock’s USD Institutional Digital Liquidity Fund, a money-market fund that invests in U.S. Treasury bills, cash, and other secure instruments.  BUIDL differs from traditional stablecoins…

Solv Protocol launches staking token to bring Bitcoin yields to Solana

boss

Solv Protocol has introduced ‘SolvBTC.JUP’, a new Liquid Staking Token that lets Bitcoin investors earn returns through Solana’s decentralized finance ecosystem. Even though it is only in its pilot phase, SolvBTC.JUP offers Bitcoin holders a way to generate returns, paid in Bitcoin (BTC), by participating in Solana’s (SOL) Jupiter Exchange, according to a press release shared with crypto.news. The process works by depositing Bitcoin into Solv Protocol. In exchange, users receive SolvBTC.JUP, which represents their staked Bitcoin.  This token accrues yield over time based on Solv’s involvement in the Jupiter…