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Produced by Daniel Aharonoff & Mogul Media AI

PYUSD Loans and Tokenized Assets: A New Era in DeFi

Unleashing Potential: PYUSD Loans and Tokenized Real World Assets In a groundbreaking development within the decentralized finance (DeFi) sector, a Swiss-based platform, Backed, has emerged as a pivotal player by powering PYUSD loans through tokenized Treasury Bill ETFs. This innovative approach not only enhances the utility of PYUSD but also provides new avenues for users to earn yield on their deposits, thus reshaping the landscape of stablecoins and lending markets. The Mechanics of PYUSD Loans Depository Functionality : Users can deposit PYUSD, a regulated USD stablecoin issued by Paxos for PayPal, into a Morpho Blue vault. This vault supports two types of collateral: Backed's tokenized Treasury Bill ETFs Lido’s wstETH Yield Generation : Depositors of PYUSD earn yield by lending to borrowers who take out loans. This dual engine mechanism—an innovative blend of real-world yields and crypto rewards—optimizes returns across varying market conditions. Tokenized Rea
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Produced by Daniel Aharonoff & Mogul Media AI

Unveiling the Resilience of Ronin Network's RON Token Amid Cryptocurrency Market Fluctuations

The cryptocurrency market is experiencing a downturn on Monday, with Bitcoin edging closer to the $40,000 mark. While the majority of gaming tokens have suffered losses, the Ronin network's RON token continues to shine brightly following a weekend surge that propelled it to nearly a two-year high. Currently priced at $2.32, RON has surged by 34% over the past week, securing its position among the top 100 cryptocurrencies. On Sunday, the token reached a peak of $2.52, marking its highest value since February 2022.

Ronin Network's Rise:

  • Ronin network's RON token has surged by 34% over the past week, reaching $2.32.
  • The token peaked at $2.52 on Sunday, its highest value since February 2022.
  • Ronin network is an Ethereum sidechain network designed for games, initially launched for Axie Infinity in 2021.
  • Developer Sky Mavis has attracted more developers to the network, with games like Pixels migrating to Ronin from Ethereum sidechain Polygon.
  • Ronin saw a surge in daily active wallets following the success of Pixels and excitement surrounding play-to-earn campaigns.
  • Apeiron, another game on Ronin, recently launched its own airdrop campaign, adding to the network's momentum.

Despite a remarkable 325% surge over the past year, the RON token experienced a slight dip of about 3% in the last 24 hours, in line with the market average decline during this period. This correction should be viewed in the context of the broader market trend, rather than a reflection of Ronin network's long-term prospects.

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