Manta Foundation Allocates Treasury to wUSDM, Backed by BlackRock’s BUIDL Fund

The
Manta
Foundation
has
announced
a
strategic
allocation
of
its
stable
crypto
assets
within
the
Treasury
into
wUSDM,
a
yield-bearing
stablecoin
by
Mountain
Protocol.
This
initiative
is
backed
by
BlackRock’s
BUIDL
Fund
and
managed
by
Securitize,
according
to
Manta
Network.

What
is
wUSDM
and
Mountain
Protocol?

USDM
is
a
stablecoin
deployed
by
Mountain
Protocol,
historically
backed
by
U.S.
Treasury
bills.
With
additional
backing
from
BlackRock’s
BUIDL
Fund,
USDM
has
become
the
largest
Treasury-backed
stablecoin,
achieving
a
market
capitalization
of
$153
million
and
ranking
as
the
third-largest
Real-World
Asset
(RWA)
protocol
by
total
value
locked
(TVL).

wUSDM,
Mountain
Protocol’s
Liquid
Staking
Token
(LST)
deployed
on
Manta
Pacific,
offers
the
stability
and
yields
of
traditional
financial
institutions
through
being
backed
by
U.S.
Treasury
bills
and
now
BlackRock’s
BUIDL
Fund.

Diversification
and
Strengthening
of
Treasury
Assets

This
decision
aligns
with
the
Manta
Foundation’s
broader
vision
to
diversify
and
strengthen
its
Treasury
assets,
paving
the
way
for
sustainable
growth.
The
Treasury
will
benefit
from
the
added
stability
and
potential
yield
gains
of
wUSDM.

Yield
Opportunities
with
wUSDM

Initiatives
on
Manta
Pacific
like
New
Paradigm
and
Renew
Paradigm
first
introduced
Mountain
Protocol’s
yield-bearing
stablecoins.
These
initiatives
brought
unprecedented
yield
opportunities
into
various
DeFi
protocols
across
the
Manta
Network
ecosystem.

During
the
New
Paradigm
campaign,
wUSDM
was
introduced
on
Manta
Pacific,
allowing
users
to
stake
USDC
and
receive
wUSDM.
Over
$132
million
worth
of
wUSDM
was
minted,
providing
substantial
yield
opportunities
for
participants.
Users
gained
exposure
to
additional
yield
opportunities
generated
from
the
yield-bearing
nature
of
wUSDM.

Bridging
TradFi
and
DeFi

The
backing
of
U.S.
Treasuries
and
BlackRock’s
BUIDL
Fund
exemplifies
how
real-world
assets
can
bridge
the
gap
between
TradFi
and
DeFi.
Manta’s
users
receive
on-chain
treasury
yields,
solidifying
the
role
of
RWAs
in
modern
financial
ecosystems.

Conclusion

The
Manta
Foundation’s
allocation
of
a
portion
of
its
reserve
to
wUSDM
highlights
an
ongoing
commitment
to
enhancing
financial
security
and
stability
within
Manta
Network.
By
leveraging
the
benefits
of
traditional
financial
institutions
through
Mountain
Protocol’s
wUSDM,
the
foundation
aims
to
provide
its
community
with
increased
yield
opportunities
and
a
stronger
ecosystem.

About
Manta
Network

Manta
Network
is
the
go-to
modular
blockchain
for
zero-knowledge
(ZK)
applications.
The
Manta
Pacific
ecosystem
is
designed
for
EVM-native
ZK
applications
and
dApps,
offering
users
the
lowest
costs
and
best
experiences.
By
leveraging
Manta’s
Universal
Circuits
for
ZK-as-a-Service
and
Celestia’s
data
availability
for
modularity,
the
network
delivers
low
gas
fees
and
creates
the
perfect
environment
for
ZK-enabled
applications.
Learn
more
about
Manta
Pacific

here.

Founded
by
a
team
from
prestigious
institutions
like
Harvard,
MIT,
and
Algorand,
Manta
Network
has
attracted
investments
from
top
Web3
funds,
including
Binance
Labs
and
Polychain
Capital.
The
network
has
grown
through
top
Web3
accelerators
such
as
Alliance
DAO
and
the
Berkeley
Blockchain
Xcelerator.
Manta
Network
is
ready
to
bring
the
next
generation
of
Web3
users
into
a
new
era
of
ZK-focused
applications.

Join
Manta
Network
on
their
different
channels
to
stay
connected
and
be
part
of
their
journey.

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