GMMF01
Securities tokenization is one of DeFi’s most promising use cases. In recent years, we have seen a growing number of traditional financial instruments, such as U.S. Treasury bonds, integrated into DeFi protocols by pioneers like MakerDAO. These integrations not only allow a broader pool of investors to engage with the underlying assets but also enable sustainable yields over short-term mercenary gains, reshaping investment strategies and the DeFi landscape.
Unitus is committing to integrating RWA elements to provide sustainable yields for our users and diversify our revenue by incorporating RWAs into our portfolio.
To facilitate full decentralization and transparency of tokenized securities, we are partnering with DigiFT to onboard GMMF01 token as collateral on Unitus Finance, starting from Arbitrum first.
About DigiFT
DigiFT Global is an affiliate of DigiFT Singapore, the regulated exchange for On-Chain real world assets. DigiFT Singapore is the first regulated exchange for on-chain real-world assets, approved as a Recognised Market Operator with a Capital Markets Services license by the Monetary Authority of Singapore.
The GMMF01 token aims to provide investors with exposure to high quality short-term money market instruments and debt securities. Underlying fund unit is held in custody by MAS-licensed custodian and is bankruptcy remote from the issuer and exchange.
About GMMF01
Token Name: DigiFT Global USD Money Market Fund Token
Token ID: GMMF01
Currency: USDC
Underlying Product: CSOP USD Money Market Fund SGXZ96797238
Token design: 1 GMMF01 = 1 share of underlying
7-day yield: 5.16% (as of June 21th)
Token indicative price: 1.0897 USDC (as of June 21th)
Subscription fee: 0%
Subscription price: based on the market price of the underlying product
Subscription details: settlement time of no more than T+2 Singapore business days (excluding non-trading days in the U.S.)
Minimum subscription amount: 2,000 USDC, incremental units of 1,000 USDC
Redemption fee: 0.1%
Redemption price: based on the market price of the underlying product
Redemption details: settlement time of no more than T+3 Singapore business days (excluding
Minimum redemption amount: 1 GMMF01 token, incremental units of 0.0001 GMMF01 token
Secondary liquidity: currently GMMF01 does not have secondary liquidity. Need to subscribe and redeem to get or sell GMMF01.
Investors who want to buy GMMF01 must go through KYC on DigiFT Global (digift.io), and get wallet whitelisted. At the moment, investors can only subscribe and redeem on Ethereum. DigiFT Global will provide a bridge for investors to bridge token between Ethereum and Arbitrum.
Paramters
Proposed parameters for the GMMF01 token are as below:
Collateral: Yes
Can be borrowed: No
Network: Arbitrum
LTV: 92%
Supply cap: 5,000,000 USD
Borrow cap: 5,000,000 in USDC
Liquidation penalty: 2%
Interest rate: capped at 6%
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