Arbitrum DAO Contemplates $3.3M Memecoin Fund As TrueFi Announces Tokenization of Real-World Assets

By: Eva Baxter

The Decentralized Autonomous Organization (DAO) of Arbitrum, a prevalent Ethereum layer-2 blockchain network, is considering creating a $3.3 million memecoin fund. The proposition originated on the platform's discourse forum on March 24th in an attempt to initiate a memecoin-friendly environment within their network. The proposal aims to increase attention, bring in new users, drive more chain activities, and enhance DeFi undertakings. As of now, Arbitrum is the largest Ethereum-based layer-2 network controlling over 40% of the market. The total value of locked assets on the network currently stands at $16.84 billion, according to L2Beats data.

On the other side of the crypto space, TrueFi, a transparent and permissionless DeFi lending protocol, has introduced its plan to tokenize real-world assets. The protocol aims to allow investors to acquire crypto loans by pledging U.S. Treasury bill tokens. The company has also expressed intentions to expand collateral to other types of tokenized RWAs in the future.