The USYC token, representing Hashnote International Short Duration Yield Fund, has surpassed the BUIDL token as the largest product in the tokenized Treasuries market. The USYC token has seen rapid growth, increasing five-fold in market capitalization over the past three months. This growth highlights the importance of integrating tokenized products with decentralized finance (DeFi) applications and the demand for yield-generating stablecoins. The USYC token has benefited from the success of the DeFi protocol Usual and its real-world asset-backed stablecoin, USD0. Usual aims to compete with centralized stablecoins by redistributing revenues to token holders and plans to add more assets to its reserves in the future. The protocol has attracted significant investment as investors seek on-chain yield opportunities. Additionally, BlackRock's BUIDL token experienced rapid growth, driven by its use as a reserve asset by DeFi platform Ondo Finance.



Other News from Today