The purpose of Spruce is to provide a low-risk environment for buy and sell-side institutions to experiment with blockchain infrastructure. Institutional participants have started the onboarding process onto the testnet, and will be using it to evaluate the advantages of executing and settling trades on-chain for different assets and applications. Fireblocks Supports Avalanche Spruce Subnet

The benefits of utilizing Spruce as a buy and sell-side institution include:

• Permissioned access – the Subnet offers a permissioned validator and user set, so only KYC’d entities can join.
• Sampling of DeFi applications – various bluechip applications have launched on the Subnet, enabling institutions to experiment with blockchain rails and decentralized applications in a controlled environment.
• Testnet environment – Spruce was built as a testnet, which allows institutional participants to experience the full functionality of Avalanche’s Subnet architecture without putting capital at risk.

About Fireblocks

Fireblocks is an easy to use platform to create new blockchain based products, and manage day-to-day digital asset operations, building block and create your own innovations on top of it. The Fireblocks Network connects to every major exchange, OTC, liquidity provider, and trading venue from day one.

Website | Twitter

About Avalanche

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Friktion announced its partnership with Fireblocks to enable Institutional access for DeFi to the award-winning digital asset and crypto technology platform.

Partnership Highlights

Connects Fireblocks’ 1300+ institutional clients to Friktion Volts directly with the safety and convenience of the leading digital asset and crypto technology platform

Marks a first key milestone for Friktion Institutional, a new division focused on scaling their DeFi product offering to Treasuries, DAOs, and Asset managers

Friktion has amassed over 17,000 users and traded >$2.5 billion in volume across 25+ assets, with $40 million in Total Value Locked

Exploding institutional interest for DeFi

“Institutional appetite for DeFi continues to grow in popular blockchain ecosystems like Solana. Fireblocks’ DeFi suite offers alternative investors with the highest level of security when it comes to accessing Solana’s ecosystem of applications, with Friktion being one of the first Solana dApps.”

– Michael Shaulov, CEO of Fireblocks

The opportunities available in DeFi have made this multi-billion sector increasingly attractive to institutional investors, and leading institutions are taking meaningful steps into the ecosystem. From Goldman Sachs re-opening its cryptocurrency trading desk, Bridgewater Associates backing their first crypto fund to BlackRock launching spot bitcoin private trust for US clients.

Unlocking DeFi’s most powerful strategies — with scale and security

Friktion is now available to Institutions looking to access real yields in DeFi. Through their integration with Fireblocks.  They are making portfolio management accessible to thousands of Funds, Foundations, and businesses. Who require battle-tested security for their digital asset operations.

“Transparency, risk-adjusted returns, and security are paramount for institutions entering DeFi. Fireblocks provides a key piece of infrastructure to power Friktion Institutional, connecting the world’s leading institutions to real DeFi yields that perform across market cycles.

– Uddhav Marwaha, CEO of Friktion Labs

Why Fireblocks matters for institutional DeFi

Most institutions currently use browser-based apps, hardware wallets, or custom integrations to access DeFi protocols today. However, there are limitations to these methods such as:

• Exposed private keys: The current methods can present a variety of security pitfalls for trading firms, hedge funds & OTC desks
• Operational challenges: Utilizing a hardware wallet presents operational and governance problems for institutions
• No audit trail: Institutions require a centralized audit trail for accounting and compliance purposes

To mitigate these risks, Fireblocks offers solutions delivering the required enterprise-level security, efficiency, and scalability.

How Institutions can access Friktion with Fireblocks

Fireblocks’ WalletConnect v2.0 integration offers the most convenient and secure way for institutions to connect to the Friktion interface right from the Fireblocks console. Existing Fireblocks users are able to connect to Friktion in 5 easy steps: Check out the guide here!

About Friktion

Friktion is DeFi’s leading protocol for risk-managed yield strategies. Friktion 5 core products, Volts, are strategies for Institutions, DAOs, and Individuals looking to generate returns across market cycles. Institutions can access Covered calls, Cash-secured puts, Volatility harvesting, Basis yield, and Principal protected strategies on 25+ crypto assets.

The platform has amassed over 17,000 users and traded >$2.5 billion in volume, with $50 million in Total Value Locked.

Website ♦ Twitter

About Fireblocks

Fireblocks is an All-in-one platform for building your digital asset business. Powering thousands of organizations and securing trillions in digital assets/month.

Website ♦ Twitter

SOURCE

https://friktionlabs.medium.com/friktion-and-fireblocks-launch-institutional-defi-partnership-e70fd275ea56

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With one of the largest and most active communities, remarkably low transaction fees, and high scalability, TRON is the Top #3 blockchain and one of the most popular layer 1 DAOs in the industry. Within the first 72 hours of Fireblocks’ Early Access Program enabling clients to receive TRON functionality, Fireblocks saw $35 million of transaction volume.

Fireblocks Current Information  

Fireblocks currently supports more than 1,100 tokens and over 35 protocols. To date, Fireblocks customers have amassed $45 billion assets under custody on the platform. Therefore Fireblocks Partners with Tron DAO to secure over $2.5 trillion in digital asset transfers. It follows a recent surge of new assets added to the platform as it expands institutional DeFi access.

Partnership Benefits

More than 1,200 liquidity partners, trading venues, and counterparties on the Fireblocks Network can now securely and smoothly send, receive, or custody TRX and other TRC20 tokens using TRON DAO’s platform.

“We have seen a lot of demand from our customers to support TRX and TRC20 tokens. We’re excited to be able to make these tokens available to our enterprise customers and look forward to supporting the ecosystem’s continued growth,” said Michael Shaulov, CEO & Co-founder of Fireblocks.

About Fireblocks

Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations. It’s through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 1,200 financial institutions, has secured the transfer of over $2.5 trillion in digital assets and has a unique insurance policy that covers assets in storage & transit.

Website | Twitter

About TRON DAO

TRON is accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. The TRON network has gained incredible traction in recent years. In addition, TRON hosts the largest circulating supply of USD Tether stablecoin across the globe. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO.

Website | Twitter

SOURCE:

https://trondao.medium.com/fireblocks-adds-support-for-tron-daos-trx-and-all-trc20-tokens-c86db77a6a2

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