Decentralized Lending Platform Sky (formerly MakerDAO) Announces Winners of Tokenized Prize Competition
On Wednesday, the financial protocol Spark within the Sky ecosystem announced the winners of its “Tokenized Prize Competition,” which include BlackRock, Securitize, Superstate, and Centrifuge. Upon receiving approval from the Sky governance system, a total of $1 billion will be allocated to the tokenized government bond products of these three winning teams.
Spark’s initiative aims to directly allocate stablecoins to the winning projects through the Spark Liquidity Layer (SLL), driving Spark’s goal of becoming a growth engine for stablecoins in the DeFi sector, while using real-world assets (RWA) as a tool to diversify its balance sheet.
According to the announcement, the tokenized government bond fund BUIDL, issued by BlackRock and tokenization technology company Securitize, will receive a funding allocation of $500 million. The USTB fund from asset management company Superstate (founded by Compound creator Robert Leshner) will receive $300 million, while the JTRSY fund from tokenized asset company Centrifuge will receive $200 million. After the governance vote on April 3, these selected tokenized assets may be used as collateral for Sky’s native stablecoin USDS and its yield-bearing token sUSDS.
According to data from rwa.xyz, this allocation plan will also significantly promote the development of the rapidly growing tokenized U.S. government bond market, which currently has a scale of $4.6 billion, with the market value of BlackRock’s BUIDL fund breaking $1 billion for the first time last week.
