Plume, a blockchain community targeted on real-world belongings, introduced on Thursday the launch of its hotly anticipated Genesis mainnet.
The launch, based on a press release shared by the Plume group, marks the “subsequent era” of asset-backed DeFi — tokenizing conventional monetary devices, or real-world belongings (RWA), to allow them to work together with blockchain-based monetary instruments.
RWAs have taken over the world of blockchain, as they’re considered as a market that could be value trillions of {dollars} with conventional monetary establishments steadily dipping into crypto.
On the time of launch, Plume shared that it has already built-in with monetary titans like Blackstone and Invesco, with over $150 million in utilized RWAs, in addition to integrations with DeFi mainstays like Curve and Morpho.
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“By Plume, RWA tokens behave identical to crypto-native tokens, enabling customers to seamlessly combine high-yielding real-world belongings throughout acquainted DeFi primitives like lending, liquidity provision, yield farming, and leveraged positions,” the group shared.
Plume introduced in December that it had raised $20 million in a Sequence A fundraising spherical and onboarded $4 billion into its ecosystem.
Within the coming months, the Plume group plans to introduce newer asset lessons and RWAfi use-cases, together with tokenized artwork, valuable metals, uranium, and buying and selling playing cards.
Learn extra: RWA-Focused Network Plume Raises $20M from Brevan Howard and Others Ahead of Mainnet Launch