Ethereum

Ondo

Arbitrum

Coin

<ul class="news-points">
 <li>Arbitrum will allocate 35 million ARB tokens to invest in RWA products.</li>
 <li>The initial list had 17 products, but the protocol will invest only in 6.&nbsp;</li>
 <li>The 6 products include BlackRock’s BUIDL and Ondo Finance’s USDY, among others.</li>
</ul>
Arbitrum, an Ethereum layer-two (L2) scaling solution, is proceeding with a proposal to allocate 35 million ARB tokens to invest in real-world asset (RWA) products after receiving community approval from the DAO.
Notably, on June 23, Arbitrum’s Stable Treasury Endowment Program (STEP) Committee <a href="https://forum.arbitrum.foundation/t/step-committee-recommendations/25097" target="_blank" rel="noopener noreferrer nofollow">unveiled six projects</a> for investment to diversify the treasury’s portfolio. The initial shortlist included 17 products, but only six were selected to avoid spreading funds “too thinly” or exposing the principal to “operational or default risk.”
These six products include, 11 million ARB for asset management firm BlackRock’s Ethereum-based tokenized fund BUIDL; 6 million ARB for Ondo Finance’s USDY; 6 million ARB for Superstate’s USTB; 4 million ARB for Mountain Protocol’s USDM; 4 million ARB for OpenEden’s U.S. Treasury Bills (T-Bills); and 4 million ARB for Backed Finance’s bIB01.
The Committee determined the investm…
The post <a href="https://coinedition.com/arbitrum-dao-approves-24m-investment-in-real-world-assets-full-breakdown/" rel="noopener noreferrer nofollow">Arbitrum DAO Approves $24M Investment in Real-World Assets: Full Breakdown</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Arbitrum DAO Approves $24M Investment in Real-World Assets: Full Breakdown

Coin Edition

Other articles published on Jul 12, 2024

Shiba Inu Dev Shytoshi Kusama Invites Elon Musk For Sit-Out

Top 5 Cryptos Gaining Momentum at Current Market Conditions: VeChain (VET), Terra Luna Classic (L...

Crypto Expert Posts $17 XRP Prediction, Polkadot Ecosystem Surges, Rollblock Becoming Fastest-Gro...

Why Cardano And KuCoin Investors Fight To Get Their Names on the Qubetics Whitelist

Free Crypto Airdrops: Don't Miss Out

Investors Bet Big On Clandeno (CLD) ICO As Coinbase Approval Finalizes; AI Simulations Forecast 1...

Join our free newsletter for daily crypto updates!