The decentralized lending project Flux Finance launches on the Ethereum mainnet

2023-02-09 17:05:02

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ChainCatcher news, the decentralized lending project Flux Finance has announced its launch on the Ethereum mainnet, aiming to provide users with exposure to U.S. Treasury yields. Flux connects on-chain and off-chain worlds by supporting permissionless assets such as stablecoins and permissioned assets like tokenized securities.

Currently, lenders can provide stablecoins (USDC and DAI) to earn yields, while borrowers can collateralize tokenized Treasuries as collateral. The tokenized Treasuries supported at launch by Flux take the form of OUSG, specifically investing in BlackRock's iShares Short Treasury ETF (SHV). Lenders providing USDC will receive freely transferable fUSDC.

Flux was initially developed by Ondo Finance and is now an autonomous protocol, with upgrades managed by ONDO holders through the Ondo DAO. (Source link)

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