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Backed, Chainlink, and Sonic in Revolutionary Collaboration to Tokenize Fortlake's Sigma Fund
The post Backed, Chainlink, and Sonic in Revolutionary Collaboration to Tokenize Fortlake's Sigma Fund appeared on BitcoinEthereumNews.com. Backed, Chainlink, Sonic, and Fortlake Asset Management announced a partnership to tokenize Fortlake’s Sigma Opportunities Fund, marking a significant milestone in the process of taking traditional financial assets to the blockchain. Backed is tokenizing the fund by creating permissionless tokens. The asset tokenization pioneer’s solution features 1:1 fund unit collateral, with the price pegged to the real-time Net Asset Value or NAV. This means the tokens are ready to be deployed within Sonic’s ecosystem. Previously known as Fantom, the high-speed EVM L1 blockchain provides appealing incentives and powerful infrastructure to developers. Chainlink is well-known as the golden standard for blockchain finance. Its SmartData will deliver the underlying fund shares’ NAV data to the blockchain, while Chainlink CCIP will allow for seamless cross-chain operations and liquidity. Chainlink Proof of Reserves will help verify AUM and collateralization. Sonic is widely recognized for its focus on developer experience, cutting-edge consensus mechanism, and transaction speed: 10,000 transactions per second at one-second finality. For these reasons, it is a popular choice for DeFi protocols and other decentralized applications. It is well-suited as a platform for tokenizing real-world assets thanks to its ability to handle a high transaction volume with minimal latency. Fortlake won in the Fixed Income category at the 2024 Fund Manager of the Year awards in Australia. Sigma Opportunities Fund, an actively managed international fixed-income product and investment strategy, targets a minimum of 7% above the federal funds rate, up to 10%. The impressive returns are achieved by leveraging market distortions. The fund’s active fixed-income investment returns have amounted to 10% so far in 2024. Adam Levi at Backed described the tokenization of Fortlake’s Sigma Fund as a milestone in the blockchain landscape. It demonstrates how institutions can leverage blockchain tech to streamline back-office operations and attain capital on higher levels. The partnership…
The post Backed, Chainlink, and Sonic in Revolutionary Collaboration to Tokenize Fortlake's Sigma Fund appeared on BitcoinEthereumNews.com.
Backed, Chainlink, Sonic, and Fortlake Asset Management announced a partnership to tokenize Fortlake’s Sigma Opportunities Fund, marking a significant milestone in the process of taking traditional financial assets to the blockchain. Backed is tokenizing the fund by creating permissionless tokens. The asset tokenization pioneer’s solution features 1:1 fund unit collateral, with the price pegged to the real-time Net Asset Value or NAV. This means the tokens are ready to be deployed within Sonic’s ecosystem. Previously known as Fantom, the high-speed EVM L1 blockchain provides appealing incentives and powerful infrastructure to developers. Chainlink is well-known as the golden standard for blockchain finance. Its SmartData will deliver the underlying fund shares’ NAV data to the blockchain, while Chainlink CCIP will allow for seamless cross-chain operations and liquidity. Chainlink Proof of Reserves will help verify AUM and collateralization. Sonic is widely recognized for its focus on developer experience, cutting-edge consensus mechanism, and transaction speed: 10,000 transactions per second at one-second finality. For these reasons, it is a popular choice for DeFi protocols and other decentralized applications. It is well-suited as a platform for tokenizing real-world assets thanks to its ability to handle a high transaction volume with minimal latency. Fortlake won in the Fixed Income category at the 2024 Fund Manager of the Year awards in Australia. Sigma Opportunities Fund, an actively managed international fixed-income product and investment strategy, targets a minimum of 7% above the federal funds rate, up to 10%. The impressive returns are achieved by leveraging market distortions. The fund’s active fixed-income investment returns have amounted to 10% so far in 2024. Adam Levi at Backed described the tokenization of Fortlake’s Sigma Fund as a milestone in the blockchain landscape. It demonstrates how institutions can leverage blockchain tech to streamline back-office operations and attain capital on higher levels. The partnership…
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