sBUIDL

How sBUIDL Brings BlackRock’s Tokenized Treasuries to DeFi

1. Hold BUIDL Tokens:

Investors first acquire BUIDL tokens, which represent shares in BlackRock’s USD Institutional Digital Liquidity Fund. This fund holds short-term U.S. Treasuries and repos, and the tokens are issued by Securitize.

2. Lock BUIDL in Securitize Vault:

To use BUIDL in DeFi, holders deposit (lock) their BUIDL tokens into Securitize’s on-chain vault system. This step is necessary to interface with decentralized protocols.

3. Mint sBUIDL Tokens:

Upon locking BUIDL, users are able to mint sBUIDL tokens through the Securitize vault. sBUIDL is a derivative ERC-20 token, fully backed 1:1 by the underlying BUIDL in the vault, and is specifically designed for use in DeFi protocols.

4. Use sBUIDL on DeFi Protocols (Euler on Avalanche):

sBUIDL tokens can now be supplied as collateral or used in lending/borrowing activities on Euler, a DeFi protocol deployed on the Avalanche blockchain. This marks the first direct DeFi integration for the BUIDL fund.

5. Redeemability:

sBUIDL maintains full 1:1 redeemability for BUIDL at any time, ensuring that users can always convert back to the original asset and retain yield benefits.

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🔵 Happening Now:

BlackRock has launched sBUIDL, marking its first direct integration with decentralized finance (DeFi) through the Euler platform on the Avalanche network.# #DeFi
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