$MKR

$MKR

MakerDAO announced an open competition called "Spark Tokenization Grand Prix", in which it plans to invest $1 billion of its reserves in tokenized U.S. Treasury issuance.

Top issuers including BlackRock's tokenized fund BUIDL, RWA protocol Ondo Finance, and crypto-native asset management company Superstate plan to submit applications to the tokenization competition. It is understood that BlackRock, Ondo and Superstate are also the three companies with the greatest influence in the RWA field in the first quarter of this year.

MakerDAO's $1 billion investment scale is expected to be a huge boost to the development of the RWA protocol.

The competition is open to all innovators and issuers, and selected partners will receive up to $1 billion in liquidity support. Applications will open on August 12, 2024 and will be selected by Phoenix Labs and Steakhouse Financial. Evaluation criteria include pricing, liquidity and consistency with Spark's strategy. MKR token holders will finally select the winner through governance voting.

This plan will be beneficial to the long-term rise of the $MKR coin price. You can also pay attention to $ONDO. If the cooperation is successful, it will be a two-way journey.

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