MakerDAO Launches $1B Competition for Asset Tokenization

IconCryptoNewsTerminal Staff11 Jul, 2024

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MakerDAO Launches $1B Competition for Asset Tokenization

MakerDAO (MKR), the renowned decentralized autonomous organization (DAO) behind the decentralized stablecoin DAI, has announced the launch of a grand competition dubbed “Spark Tokenization Grand Prix” to foster the onboarding of real-world asset tokenization through its X protocol. The competition will open for applications on August 12th. Developers, entrepreneurs, and organizations are encouraged to submit their proposals for tokenizing real-world assets, which could include real estate, commodities, or even carbon credits. The winning proposals will not only receive substantial rewards but also be backed by a staggering $1 billion in liquidity, enabling them to bring their tokenization projects to life. The competition is expected to further MakerDAO’s mission of bringing real-world assets onto the blockchain, bridging the gap between traditional and decentralized finance. [Relevant CTA] ```

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