As a seasoned crypto investor with a penchant for diversifying my portfolio and exploring emerging opportunities, I find the launch of Elmnts on Solana to be particularly intriguing. Having witnessed the meteoric rise of blockchain-based platforms over the past few years, I can’t help but see this as a promising step forward.
Elements, a platform for investment tokens centered around creating a commodities network on the Solana blockchain, has revealed that it’s now in its public testing phase.
Launching the platform on Solana (SOL) offers accredited investors an opportunity to invest in blockchain-supported funds tied to mineral rights royalties. This allows for portfolio diversification by investing in businesses involved in the extraction of oil, gas, and various natural resources.
Fund holders will generate passive income tied to tangible resources, according to a blog post.
Elmnts joins Solana’s growing ecosystem
Elements utilizes blockchain technology to extend these financial market chances to regular users. As of October 22, qualified investors are now able to join the platform, as announced by the Solana team through a confirmation on X.
The platform intends to broaden its services in a swiftly expanding market, offering more options to non-accredited investors through upcoming retail products that involve real-world assets.
In its initial introduction, Elements joins a group of similar real-world asset solutions on the Solana system. This collection encompasses Credix – a credit platform catering to businesses within Brazil, as well as Ondo Finance, a platform designed for digital tokenization using blockchain technology.
As the U.S. Treasuries market expands, the Ondo U.S. Dollar Yield product now ranks as the second-largest U.S. Treasuries asset, trailing only BlackRock’s BUIDL. The USDY offering from Ondo boasts a market capitalization of $443 million, while BUIDL stands at $550 million.
BAXUS, a marketplace for the world’s most collectible spirits, is also available on Solana.
Leaving out stablecoins, the blockchain systems with the highest amount of assets locked (RWA) are Ethereum, Stellar, and Solana. According to Rwa.xyz, it is Solana’s ecosystem that has experienced the most growth over the past 30 days.
Lately, the prominent venture capital firm Andreessen Horowitz has published a report indicating significant growth within the cryptocurrency sector, with the highest level of activity observed on the blockchain platform, Solana.
Approximately 45.45% of the 220 million active addresses engaging with a blockchain network or dApp in September were associated with Solana, as indicated by the a16z Crypto report.
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2024-10-22 18:38