Backed, Sonic, and Chainlink Collaborate to Tokenize Fortlake’s Sigma Fund

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The story "Backed, Sonic, and Chainlink Collaborate to Tokenize Fortlake’s Sigma Fund" was covered 19 hours ago by TheNewsCrypto, a news publisher based in United Arab Emirates.

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TheNewsCrypto 19h ago

Backed, Sonic, and Chainlink Collaborate to Tokenize Fortlake’s Sigma Fund - TheNewsCrypto

Quick Summary:

The fund’s tokenization opens up new possibilities in decentralized finance, including lending market integrations, usage as collateral for margin trading, or as a high-yield stablecoin savings solution.

The high-speed layer-1 EVM-compatible blockchain Sonic, previously known as Fantom, provides developers with strong infrastructure and alluring incentives.10,000 TPS is attained by the chain at one-second finality.

Backed is tokenizing the fund by generating permissionless tokens that are 1 to 1 collateralized by fund units, and the price of these tokens is linked to the Net Asset Value (NAV) in real time.