Cardano's RealFi Taps Dollar Liquidity Amid DeFi Contraction
Cardano's DeFi sector has seen significant contraction, plummeting to $67 million in total value locked from nearly $150 million in May. Amid this decline, RealFi has launched its USDrf and sUSDrf tokens on Cardano, introducing a dollar system backed by real-world credit.
The launch comes as the network's stablecoin base nears an all-time high of almost $70 million, with the capital locked in DeFi applications similarly close to this figure. RealFi emerges as a possible destination for this dollar liquidity, which coexists with less DeFi activity on the network.
USDrf can be acquired by eligible retail users through staking to receive sUSDrf, which offers variable returns generated by the portfolio of underlying assets. This may include direct loans, private credit funds, public credit, investment-grade CLO ETFs, Treasuries, and money market instruments.