💰BounceBit x Franklin Templeton — On-Chain Treasury Yield
🔸What took place
- @BounceBit added a Franklin Templeton tokenized money-market fund to Prime.
- The fund is used as base collateral and settlement for on-chain Treasury-backed yield strategies.
🔸What it means
- Dollar yield → composable collateral: users can hold a Treasury-backed token and still lend, LP, and collateralize in DeFi.
- Institution-grade rails: custody, reporting, and risk controls work with programmable on-chain execution.
- Capital efficiency: cash that isn't being used earns T-bill yield while also powering crypto strategies.
🔸How it works
- Funds are held in a tokenized money-market position that follows T-bill rates.
- Strategies for prime layers (like funding, basis, and arbitrage) on top, and stacked yield (Treasuries plus crypto execution) on the bottom.
- Users can get their money back according to the terms that were agreed upon.
🔸What to watch next
- APY tracking versus T-bill benchmarks and any fees or windows for redemption.
- Where this token can be used as collateral in many places.
- How much of Prime's business is done with the tokenized fund and how much money comes into TVL.
🔸The bottom line
- BounceBit is moving RWAs from passive holding to active, composable "RWAfi".
- This is a real step toward institution-grade CeDeFi: cash flows in the real world, on-chain utility, and clearer risk lines.
