Injective has released a new tokenized index for BlackRock’s BUIDL Fund. This index lets users keep track of the fund’s supply and access assets that were out of reach before.
Injective says that this index is the first market of its kind that lasts forever, giving users a new way to connect with the BUIDL Fund.
BlackRock’s first tokenized offering on a public blockchain is the BUIDL Fund, which is also known as the BlackRock USD Institutional Digital Liquidity Fund. Institutional investors can use it to buy U.S. treasuries and other financial assets.
Injective Enables Tokenized Investments
The fund puts its capital into U.S. Treasury bills, cash, and repurchase agreements. This lets investors make interest on the funds they hold while keeping their holdings in a tokenized form.
Even though the crypto market is unstable, the BUIDL Fund has done well. It now has more than $500 million in assets under control, making it the most significant tokenized fund to date.
Before, they had to put at least $5 million into the fund to get in. But since the BUIDL Index came out, people can now get into the fund for just $1.
The BUIDL Index will only be accessible on the Injective blockchain through a number of autonomous apps. Traders can use this new index to get access to tokenized assets and track the fund’s supply.
They can then take long or short bets based on market trends. The price changes are based on the fund’s market price, which is changed every hour to keep prices stable.
As part of Injective’s Altaris Mainnet upgrade, Stork, a decentralized price feed service, worked on the project with Injective to make the platform even better.
