BlackRock's BUIDL Fund Goes DeFi: A Game-Changing Move!

sBUIDL Token Now Live on Euler Protocol

Hold onto your hats, crypto fans! BlackRock's tokenized money market fund, BUIDL, just stormed into the decentralized finance scene with a bang! On May 15, Euler Labs dropped the news on X that sBUIDL, a token backed 1:1 by BlackRock's BUIDL and issued by Securitize, is now rocking the Euler protocol. This is sBUIDL's first epic dive into DeFi, and it's all happening on Avalanche (AVAX). Get ready, because users can now throw down sBUIDL as collateral to snag some USD Coin (USDC) or AUSD, and they'll even score some sweet AVAX incentives while they're at it!

1/ A historic first in DeFi.

BlackRock-backed sBUIDL, issued by Securitize, is now live on Euler.

It's sBUIDL's first ever direct DeFi integration.

Curated by Re7 Labs on Avalanche. pic.twitter.com/B7tTuGzqHL

Euler: The Lending Super App

Euler isn't just any old platform; it's a "lending super app" that's giving institutions the power to launch custom lending markets with total control over everything from collateral requirements to liquidation settings and access permissions. It's like a playground for the big players!

What makes Euler stand out is its modular architecture. Builders can mix and match components to whip up new lending products, unlike those stuffy traditional DeFi protocols stuck in their old ways. Euler's got the flexibility to support permitted markets, synthetic asset structures, and fixed-term loans. It's a DeFi dream come true!

Since its launch, Euler's been raking in the cash, with deposits topping a whopping $900 million. Sure, yield is still a big draw, but Euler's real strength is its ability to handle those complex lending strategies like a pro. Its design lets different vaults play nice together using the ERC4626 standard and Ethereum Vault Connector, creating a super liquid network that's ready for anything.

BUIDL Fund: From $0 to $2.8 Billion in Record Time

Launched in March 2024, BlackRock's BUIDL fund has been on a wild ride, skyrocketing to $2.8 billion in assets in no time flat. This beast is investing in U.S. Treasury bills, cash, and repos to keep that $1 per token steady while dishing out daily dividends. And it's not just sticking to one blockchain; BUIDL's spreading its wings across Ethereum (ETH), Solana (SOL), and Arbitrum (ARB).

Now, here's the kicker: despite its massive size, BUIDL's holder base is still tiny, with only 73 wallets as of the latest data. But its leap into DeFi? That's a sign of a bigger trend, folks. We're talking about bridging the gap between on-chain apps and traditional finance. The sBUIDL integration is pushing DeFi toward more institutional adoption, bringing real-world assets into the lending game and giving BlackRock-backed assets a whole new playground in decentralized markets. Buckle up, because this is just the beginning!