Spark, a decentralized finance lending platform associated with Sky, held the “Tokenization Grand Prix” in 2024 to accelerate the adoption of real-world asset (RWA) tokenization and diversify its balance sheet by distributing $1 billion to tokenized U.S. Treasury bills

Event date

Jun 30, 2024 - 9:00pm

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Spark has announced that BlackRock, Superstate, and Centrifuge are the winners of its Tokenization Grand Prix. The goal is to allocate $1 billion in tokenized assets, with BlackRock’s BUIDL fund set to receive half of it. The competition, launched in July 2024, allocated funds through the Spark Liquidity Layer (SLL). The initiative aimed to integrate real-world assets (RWAs) to diversify Spark’s balance sheet while expanding stablecoin adoption in DeFi.

Tokenized Treasury products of BlackRock-Securitize, Superstate and Centrifuge are poised to receive allocations from $1 billion investment plan initiated by Sky, formerly MakerDAO, an initiative designed to accelerate the adoption of real-world asset (RWA) tokenization on Sky-adjacent decentralized finance (DeFi) lending platform Spark.