wUSDM Manta Network Powered by BlackRock's BUIDL Fund

Bittime - Manta Network is proud to announce that Mountain Protocol's wUSDM deployment on Manta Pacific is now backed by BlackRock's BUIDL Fund and facilitated through Securitize, BlackRock's transfer agent and tokenization platform for BUIDL. This marks a new chapter in long-term growth and security for all wUSDM holders.

BlackRock's commitment via the BUIDL Fund

BUIDL Fund (BlackRock USD Institutional Digital Liquidity Fund) represents BlackRock's commitment to integrating blockchain technology with traditional financial assets. The BUIDL Fund offers a stable value of $1 per token and pays daily accumulated dividends directly to investors' wallets as new tokens every month. Investments of 100% of its assets are in cash, U.S. bonds and U.S. bonds. Treasury and repurchase agreements, ensuring secure and transparent yield generation on the blockchain. Manta Network is proud to be one of the early adopters of the BUIDL Fund by supporting the assets it supports through on-chain earning stablecoins.

wUSDM at Manta Secured by BlackRock's BUIDL Fund

USDM is a Mountain Protocol-deployed stablecoin that has historically been backed by U.S. bonds. Treasury. Currently, USDM is also backed by BlackRock's BUIDL Fund. This is good news for the Manta Network community. The addition of support by BlackRock's BUIDL Fund increases the security and yield potential of wrapped USDM (wUSDM) by Mountain Protocol, as well as ensuring that wUSDM holders benefit from ownership of BlackRock, the world's leading asset management firm.

wUSDM on Manta Pacific was introduced during New Paradigm, where users stake USDC and receive wUSDM. More than $132 million wUSDM was minted on Manta Pacific during the New Paradigm campaign.

Additionally, users can leverage their wUSDM across various DeFi protocols within the Manta Network ecosystem and earn additional rewards and better capital efficiency, such as Shoebill Finance, Zerolend, Aperture Finance, and others.

RWAs on Manta Pacific and Manta CeDeFi

This milestone confirms Manta Network's long-term investment in improving the use cases, security, and utility of RWAs available on Manta Pacific. The enhanced security and yield of wUSDM, backed by BlackRock’s BUIDL Fund, is an attractive prospect for users to take advantage of today.

Today, the Manta community can participate in Manta CeDeFi, the latest innovative product from Manta Network that offers institutional-grade yield and security to RWAs. Users who stake wUSDM will not only earn yield, but also receive mUSD, a Liquid Custody Token (LCT) on Manta Pacific.

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