{"id":640958,"date":"2024-09-10T19:30:53","date_gmt":"2024-09-10T19:30:53","guid":{"rendered":"https:\/\/ktsl888.com\/?p=640958"},"modified":"2024-09-10T12:48:33","modified_gmt":"2024-09-10T12:48:33","slug":"will-polkadot-accept-this-major-request-from-a-rwa-platform-dot-down-65","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/polkadot-dot\/will-polkadot-accept-this-major-request-from-a-rwa-platform-dot-down-65\/","title":{"rendered":"Will Polkadot Accept This Major Request From A RWA Platform? DOT Down 65%"},"content":{"rendered":"

Centrifuge, a real-world asset (RWA) solution and a Parachain, has a plan for Polkadot, a smart contracts platform. In a <\/span>proposal<\/span><\/a>, the RWA platform suggests that the newly created Polkadot Community Foundation allocates $3 million USDC to their T-Bill pool. This pool is held within the Anemoy Liquid Treasury Fund and aims to serve multiple objectives.<\/span><\/p>\n

Centrifuge Wants Polkadot To Invest $3 Million In T-Bills<\/span><\/h2>\n

In their proposal, allocating the $3 million to T-Bill as an investment will benefit the broader ecosystem. Of note, it will help boost the long-term sustainability of the Polkadot Treasury. This is because the T-Bill pool will generate stable yields from real-world assets, thereby further increasing the financial health of the Treasury.<\/span><\/p>\n

Related Reading: Cardano Foundation Reports Massive Growth In These Key Metrics \u2013 ADA Price Soars 3%<\/a><\/div>\n

Though the funds will be from the foundation, Centrifuge argues that injecting the $3 million USDC into the T-Bill pool will help increase the network’s total value locked (TVL). Subsequently, this will also expand the Treasury’s assets. <\/span><\/p>\n

The foundation might consider investing in RWAs, as proposed by Centrifuge, as it could foster the growth of this technology within Polkadot, pushing adoption and growth as a result.<\/span><\/p>\n

Laying out their proposal, Centrifuge said if the foundation decides to invest, it would align with their previous investment in the Anemoy Liquid Treasury Fund. In turn, this may offer a unique opportunity for Polkadot to diversify and expand its investment basket. It is especially now that tokenization<\/a> and RWA is picking up momentum.<\/span><\/p>\n

RWA Picking Up Steam, Will DOT Reverse Losses?<\/span><\/h2>\n

BlackRock, one of the top asset managers in the world, is one of the leaders in tokenizing treasury bills. On Ethereum, the manager has launched BUIDL, a platform where institutions can invest in tokenized Treasury bills. As of September 10, BUIDL is the largest tokenized Treasuries provider, <\/span>managing<\/span><\/a> over $514 million, according to RWA.xyz.<\/span><\/p>\n

\"BlackRock
BlackRock BUIDL TVL | Source: RWA.xyz<\/figcaption><\/figure>\n

 <\/p>\n

The proposal is so far garnering community support. Roughly a week before the decision, over 53% agreed with this proposal. However, some community members are expressing concerns. <\/span><\/p>\n

Related Reading: Ethereum Sees Massive Outflows from Derivatives: What Does This Mean For ETH?<\/a><\/div>\n

Most of them point to the potential risks and the negative implications of this on the network’s Treasury. One <\/span>concern<\/span><\/a> is that if this is approved, it could increase DOT spending requests, eventually depleting its reserves.<\/span><\/p>\n

While the prospect of RWA taking off in Polkadot is bullish, DOT is still under pressure. From the daily chart, DOT is down roughly 65% from March highs. It is also in a descending channel and retesting multi-month support.\u00a0\u00a0<\/span><\/p>\n

\"Polkadot<\/a>
Polkadot price trending downward on the daily chart | Source: DOTUSDT via Binance, TradingView<\/a><\/figcaption><\/figure>\n

 <\/p>\n

The primary support lies at around $3.5. On the upper end, resistance is at $5. A break above this line will lift sentiment, propelling the coin towards $6.5 in a buy trend continuation formation.<\/span><\/p>\n

Feature image from Unsplash, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

Centrifuge, a real-world asset (RWA) solution and a Parachain, has a plan for Polkadot, a smart contracts platform. In a proposal, the RWA platform suggests that the newly created Polkadot Community Foundation allocates $3 million USDC to their T-Bill pool. This pool is held within the Anemoy Liquid Treasury Fund and aims to serve multiple objectives. Centrifuge Wants Polkadot To Invest $3 Million In T-Bills In their proposal, allocating the $3 million to T-Bill as an investment will benefit the broader ecosystem. Of note, it will help boost the long-term sustainability of the Polkadot Treasury. This is because the T-Bill pool will generate stable yields from real-world assets, thereby further increasing the financial health of the Treasury. Related Reading: Cardano Foundation Reports Massive Growth In These Key Metrics \u2013 ADA Price Soars 3% Though the funds will be from the foundation, Centrifuge argues that injecting the $3 million USDC into the T-Bill pool will help increase the network’s total value locked (TVL). Subsequently, this will also expand the Treasury’s assets. The foundation might consider investing in RWAs, as proposed by Centrifuge, as it could foster the growth of this technology within Polkadot, pushing adoption and growth as a result. Laying out their proposal, Centrifuge said if the foundation decides to invest, it would align with their previous investment in the Anemoy Liquid Treasury Fund. In turn, this may offer a unique opportunity for Polkadot to diversify and expand its investment basket. It is especially now that tokenization and RWA is picking up momentum. RWA Picking Up Steam, Will DOT Reverse Losses? BlackRock, one of the top asset managers in the world, is one of the leaders in tokenizing treasury bills. On Ethereum, the manager has launched BUIDL, a platform where institutions can invest in tokenized Treasury bills. As of September 10, BUIDL is the largest tokenized Treasuries provider, managing over $514 million, according to RWA.xyz.   The proposal is so far garnering community support. Roughly a week before the decision, over 53% agreed with this proposal. However, some community members are expressing concerns. Related Reading: Ethereum Sees Massive Outflows from Derivatives: What Does This Mean For ETH? Most of them point to the potential risks and the negative implications of this on the network’s Treasury. One concern is that if this is approved, it could increase DOT spending requests, eventually depleting its reserves. While the prospect of RWA taking off in Polkadot is bullish, DOT is still under pressure. From the daily chart, DOT is down roughly 65% from March highs. It is also in a descending channel and retesting multi-month support.\u00a0\u00a0   The primary support lies at around $3.5. On the upper end, resistance is at $5. A break above this line will lift sentiment, propelling the coin towards $6.5 in a buy trend continuation formation. Feature image from Unsplash, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":527406,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83366],"tags":[7720,17227,93022,83457,1946,86924,9753,89629,93023,9272],"class_list":["post-640958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-polkadot-dot","tag-blackrock","tag-buidl","tag-centrifuge","tag-dot","tag-ethereum","tag-parachain","tag-polkadot","tag-rwa","tag-t-bills","tag-tokenization"],"acf":[],"yoast_head":"\nWill Polkadot Accept This Major Request From A RWA Platform? DOT Down 65%<\/title>\n<meta name=\"description\" content=\"Polkadot could venture into RWA if its accepts this proposal by Centrifuge. 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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