The post Backed, Sonic, and Chainlink Collaborate to Tokenize Fortlake’s Sigma Fund appeared on BitcoinEthereumNews.com.

In a major step toward bringing traditional financial assets onchain, Backed, a pioneer in asset tokenization solutions, Sonic (fka Fantom), an EVM L1 blockchain that provides developers with alluring incentives and robust infrastructure, and Chainlink, the industry standard for onchain finance, have announced that they are collaborating with Fortlake Asset Management to tokenize their Sigma Opportunities Fund. 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. This indicates that tokens are usable inside the Sonic ecosystem and are DeFi ready. Chainlink CCIP will provide smooth cross-chain liquidity and operations, Chainlink Proof of Reserves will assist in confirming collateralization and AUM, and Chainlink SmartData will provide NAV data of the underlying fund shares onchain. Recently, Fortlake was chosen as Australia’s Fixed Income Manager of the Year. Using market distortions to generate a robust return, its Sigma Opportunities Fund is an actively managed global fixed-income investment strategy that aims to outperform the fed funds rate by 7–10%. The fund’s active fixed-income assets have generated a 10% return over the last 12 months. 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. It is a well-liked option for decentralized apps, primarily DeFi protocols, because to its creative consensus method and emphasis on developer experience. Sonic is the perfect platform for tokenizing real-world assets since it can manage a large number of transactions with little latency. Adam Levi at Backed said: “Tokenizing the Fortlake Sigma Fund is a major step forward in the blockchain landscape. It showcases how institutions can use blockchain technology to simplify back-office operations and reach new capital.…

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Filed under: News - @ December 4, 2024 7:30 pm