The team behind real-world asset (RWA)-focused layer-1 blockchain Mavryk Network, said it raised $5.2 million to advance its plans to integrate tokenization and decentralized finance (DeFi).
The investment round was led by Ghaf Capital, Big Brain, MetaVest Capital, Cluster Capital, Collective Ventures and Atlas Fund, according to an email shared with CoinDesk on Tuesday.
Mavryk Dynamics aims to simplify RWA tokenization and DeFi integration, making digital asset ownership more accessible. Its testnet offers users an environment to explore decentralized applications (dapps), purchase fractional test shares of RWAs, provide feedback, and earn rewards.
The non-custodial blockchain’s features include an on-chain protocol treasury and liquidity mining. The team has also developed a new RWA token standard and multiple decentralized exchanges (DEXs) for non-custodial trading and lending.
Tokenization, or the minting of blockchain-based tokens that represent ownership of traditional assets, is gaining traction among institutions exploring ways of improving operational efficiency gains. The tokenized RWA market could grow to trillions of dollars through this decade, reports from firms including McKinsey and BCG, have suggested.
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