{"id":5316,"date":"2024-09-10T19:30:53","date_gmt":"2024-09-10T19:30:53","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=5316"},"modified":"2024-09-10T19:30:53","modified_gmt":"2024-09-10T19:30:53","slug":"will-polkadot-accept-this-major-request-from-a-rwa-platform-dot-down-65","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=5316","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 proposal<\/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.<\/p>\n

Centrifuge Wants Polkadot To Invest $3 Million In T-Bills<\/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.<\/p>\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\u2019s total value locked (TVL). Subsequently, this will also expand the Treasury\u2019s assets. <\/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.<\/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.<\/p>\n

RWA Picking Up Steam, Will DOT Reverse Losses?<\/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, managing<\/a> over $514 million, according to RWA.xyz.<\/p>\n

\u00a0<\/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. <\/p>\n

Most of them point to the potential risks and the negative implications of this on the network\u2019s Treasury. One concern<\/a> is that if this is approved, it could increase DOT spending requests, eventually depleting its reserves.<\/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<\/p>\n

<\/a><\/p>\n

\u00a0<\/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.<\/p>","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 […]<\/p>\n","protected":false},"author":0,"featured_media":5317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/5316"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5316"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/5316\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/5317"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}