{"id":203497,"date":"2023-11-30T12:36:20","date_gmt":"2023-11-30T07:06:20","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=203497"},"modified":"2023-11-30T12:36:20","modified_gmt":"2023-11-30T07:06:20","slug":"polkadots-web3-foundation-to-invest-1m-in-on-chain-treasuries-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/polkadots-web3-foundation-to-invest-1m-in-on-chain-treasuries-crypto-news\/","title":{"rendered":"Polkadot\u2019s Web3 Foundation To Invest $1M In On-Chain Treasuries – Crypto News"},"content":{"rendered":"
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The Web3 Foundation, the organization behind the Polkadot network, is the latest crypto development team to invest treasury assets into real-world assets.<\/p>\n

On Nov. 29, the Web3 Foundation announced it will make a pilot investment of $1M into U.S. treasuries bills brought on-chain via Anemoy, an asset manager on Centrifuge Chain, a real-world asset (RWA)-focussed Polkadot parachain.<\/p>\n

\u201cThis partnership demonstrates Web3 Foundation’s commitment to supporting the growth and innovation of real-world assets on Polkadot’s infrastructure,\u201d the Web3 Foundation said.<\/p>\n

\u201cWith this collaboration between Centrifuge and Web3 Foundation, the stage is set for significant growth and innovation for real-world assets using Polkadot\u2019s infrastructure and technology,\u201d said Lucas Vogelsang<\/a>, the co-founder of Centrifuge.<\/p>\n

The Web3 Foundation will invest the funds into Anemoy\u2019s forthcoming Liquid Short Treasury Fund, which is intended to enable DAOs and other investors to access exposure to short-term U.S. treasury bill yields.<\/p>\n

Fabian Gompf<\/a>, the Web3 Foundation\u2019s recently-appointed chief executive, hinted that the organization plans on substantially increasing its RWA allocation in the future. \u201c$1M is a start, and we fully expect to quickly grow beyond that.\u201d<\/p>\n

On-chain RWA adoption<\/h2>\n

The news comes as RWAs are enjoying growing adoption across web3.<\/p>\n

MakerDAO led the charge last year, with its governance passing a proposal<\/a> last September to inject up to 500M USDC into U.S treasuries via the investment management group, Monetalis. MakerDAO\u2019s RWA exposure grew from $17M to $640M in 2022, with the project also launching a $100M vault<\/a> for the 151-year-old Huntingdon Valley Bank.<\/p>\n

Despite comprising just 10% of its asset holdings, RWAs drove nearly half of MakerDAO\u2019s revenue for the year. Maker has continued to increase its RWA exposure, now totalling $2.8B<\/a>, according to Daistats. Maker\u2019s RWA portfolio includes nearly $144M invested in pools operating on Centrifuge\u2019s Tinlake dApp.<\/p>\n

In July, MakerDAO estimated 79% of its fee revenue from the preceding 12 months was derived from real-world assets.<\/p>\n

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