Injective Launches Tokenized Index for BlackRock’s BUIDL Fund

• Injective introduces the first-ever tokenized index for BlackRock’s BUIDL Fund, offering fast, low-fee access to the fund for all users.
• The BUIDL token provides stable value and monthly dividends, with over $500M in assets under management, making it the largest tokenized fund.

Injective has made a huge milestone in the cryptocurrency space by launching the first tokenized index for BlackRock’s BUIDL Fund.

According to a tweet from the platform, this new permanent index product tracks the BUIDL fund’s supply, giving users unparalleled access to the fund with the lowest fees and fastest transaction speeds in the crypto industry.

This product ushers in a new era of decentralized finance (DeFi), allowing individual investors to gain access to high-value institutional funds.

1/10 Injective is introducing the first ever tokenized index for @BlackRock’s BUIDL Fund, a perpetual index product that tracks the supply of the $BUIDL fund itself.

Now users can access the fund with the lowest fees and fastest speeds in crypto.https://t.co/jAupnilJ3b

— Injective (@injective) September 4, 2024

BUIDL Token: Stable Value and Daily Dividends with Real-Time Asset Tracking 

The BUIDL token, which is at the core of this new product, has a fixed value of $1 per token. In addition to the token’s stability, investors are rewarded with a dividend that accrues every day and is distributed monthly.

The fund’s yield is derived from a range of sources, including cash, US Treasury bills, and repurchase agreements, delivering a consistent stream of income for investors.

The BUIDL Index was created as a result of a collaboration between Injective and Stork, a decentralized pricing feed provider that operates on and off-chain. This index perpetual market monitors the BUIDL fund’s supply, allowing users to make accurate predictions regarding the direction of inflows and outflows.

This is a significant technical feat since it allows for real-time tracking of an asset’s supply, allowing traders to more accurately predict market changes.

Breaking Barriers: Injective’s RWA Module Enables Accessible Tokenized Finance

Injective’s innovation in tokenization does not end with the BUIDL Index. The platform’s first Real World Asset (RWA) module allows developers to easily create new tokenized items. This RWA module, together with the development of the RWA oracle, set the path for the BUIDL Index to be released to the market.

These solutions enable the seamless integration of traditional financial assets into the cryptocurrency ecosystem, lowering the barrier to entry for both developers and investors.

Previously, entry to the BUIDL fund was limited to institutional investors with a hefty minimum investment of $5 million. Through Injective, anyone can now participate in the BUIDL index perpetual futures market for as little as $1.

This democratization of finance enables a broader spectrum of investors to profit from exposure to high-performing assets.

The BUIDL Index will be solely available through a number of decentralized applications (dApps) on the Injective platform, including Helix.

These dApps provide a streamlined gateway to the tokenized fund, with the lowest costs and fastest transaction speeds in the industry, ensuring a seamless and efficient trading experience for consumers.

In addition to this huge breakthrough, CNF has revealed that Injective has released the Remix Web IDE, which allows developers to design, test, and deploy smart contracts directly from their browser. This technology, together with Injective’s average block time of 0.65 seconds, has attracted liquidity for high-frequency trading while improving the platform’s overall speed and efficiency.

Injective’s native token, INJ, is now trading at around $17.12, reflecting a 7.28% gain in value over the last 24 hours. Additionally, its 24-hour trading volume has increased by 38% to $101.32 million.