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Date: 2025-02-25 15:02:08
The individuals responsible for the development of Mavryk Network, a layer-1 blockchain concentrated on tokenizing real-world assets (RWAs) and integrating decentralized finance (DeFi), announced that they secured $5.2 million in funding to further their objectives.
As stated in an email sent to CoinDesk on Tuesday, the financing round was spearheaded by Ghaf Capital, Big Brain, MetaVest Capital, Cluster Capital, Collective Ventures, and Atlas Fund.
Mavryk Dynamics is striving to streamline the process of RWA tokenization and DeFi integration, thereby making digital asset ownership more accessible to a broader audience. Its testnet provides users with an opportunity to experiment with decentralized applications (dapps), acquire fractional test shares of RWAs, offer feedback, and receive rewards.
The non-custodial blockchain boasts features such as an on-chain protocol treasury and liquidity mining. Additionally, the team has engineered a novel RWA token standard and several decentralized exchanges (DEXs) to facilitate non-custodial trading and lending.
Tokenization, the process of creating blockchain-based tokens that represent ownership of traditional assets, is gaining popularity among institutions seeking to enhance operational efficiency. Estimates from firms like McKinsey and BCG suggest that the tokenized RWA market could potentially reach trillions of dollars by the end of this decade.
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