

Franklin Templeton Expands Money Market Fund on Polygon: How is it Helpful

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The Franklin Templeton fund is the first U.S. registered mutual fund to use a public blockchain for transaction processing and recording share ownership.
Franklin Templeton Taps Into Blockchain Technology
Franklin Templeton, which manages $1.4 trillion in assets, announced that its OnChain U.S. Government Money Market Fund (FOBXX) now supports Ethereum via layer 2 blockchain Polygon.
The fund became the first American mutual fund to process transactions and record shares ownership using a public blockchain, according to the firm's press release. The Franklin Templeton und invests more than 99% of its assets in government securities, cash, and repurchase agreements to meet its goal of providing stable income to holders.
In a recent statement, Franklin Templeton said integrating blockchain into its system provides "operational efficiencies" such as greater security, faster transaction processing, and lower costs.
According to Colin Butler, Global Head of Institutional Capital at Polygon Labs, Franklin Templeton will use Polygon to provide transparency, interoperability, and safe, democratized access to their financial instruments.
Investing in money market funds allows investors to earn a high return on a low-risk investment. In addition, these funds invest in highly liquid, short-term securities. The firm announced in September that it would offer digital asset strategies to wealth managers.
FOBXX Manages $270M in Assets
Franklin Templeton’s FOBXX is a crypto product that invests cash in American government securities, cash, and repurchase agreements. The product has over $270 million in assets under management (AUM).
Franklin Templeton’s Nasdaq-listed OnChain U.S. Government Money Fund (FOBXX) will use Polygon to be further compatible with the rest of the digital ecosystem. Franklin Templeton's fund is represented by one "BENJI" token that users can obtain through digital wallets via the Benji Investments app.
The recent move by Franklin Templeton represents a significant step forward in the adoption of blockchain technology within traditional financial institutions.
Franklin Templeton announced a digital asset venture fund two years ago, and a money market fund has been digitizing shares on Stellar blockchain since 2019.
What is Polygon:
Polygon is a “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. MATIC is the network’s native cryptocurrency, used for fees, staking, and more. The effectiveness of Polygon as an alternative to Ethereum has seen existing projects such as Aave and Curve adopting its chain.
For more about Polygon:
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Gyrowin: Revolutionizing Gaming and DeFi with Cross-Chain Innovation

Powered by its native token GW, Gyrowin combines the excitement of lottery games with the security and transparency of decentralized finance to offer users exciting rewards.
Gyrowin, a groundbreaking cross-chain decentralized gaming, liquidity, and asset management platform, is making waves in the world of blockchain technology and DeFi. With a mission to provide transparent and fair reward distribution, Gyrowin is set to redefine how players engage with lottery games and DeFi protocols. Let's delve into the key aspects of this innovative project.

Lottery Games for Fun and Profit
Gyrowin recognizes the enduring popularity of lottery games and is capitalizing on it. Offering a range of lottery games integrated with staking, lending, and borrowing protocols, Gyrowin allows players to have fun while winning. The platform operates game liquidity pools on major chains like BNB Chain, Polygon, Tron, and Solana, offering a diverse gaming experience.
The platform’s variety of cross-chain lottery games include the 6/41 Lottery, Gylotto, 5/9 Lottery, 10 minutes Lottery, and Instant scratch NFT Lottery. This cross-chain approach ensures accessibility and inclusivity for players across the crypto landscape.
Tokenomics
At the heart of the Gyrowin ecosystem lies its native token Gyrowin ($GW), designed to serve multiple functions, including governance voting, liquidity currency, and incentives for DeFi users. The token structure is meticulously balanced, with allocations for various purposes, including liquidity, reserve, marketing and more, ensuring a sustainable supply-demand ratio. Notably, Gyrowin implements a burning mechanism and regular buybacks to maintain token value. Learn more about the token distribution and allocation here.

Borrowing and Lending with Ease
Gyrowin offers a cross-chain DeFi platform for borrowing and lending tokens across multiple chains, introducing unified liquidity pools that provide higher APR for lenders. Users can borrow from different chains seamlessly, eliminating the need for collateral bridging. The platform also offers zero liquidation on collateral, enhancing user security.
Decentralization and Transparency
The platform places a strong emphasis on decentralization and transparency. Leveraging Chainlink oracle VRF for automation and accurate token price information, Gyrowin ensures fair lottery draws and automated lotteries. The platform also utilizes blockchain infrastructures like The Graph and layer zero for a seamless cross-chain experience.
Money Plant Staking and Freeze Lock
Gyrowin's staking process is designed to be competitive and rewarding for participants. Using a first-come, first-served approach and limiting staking amounts, Gyrowin offers higher yields in a short period. The platform’s innovative Freeze lock feature ensures that unlocked tokens are only available for use after a cooling period, providing additional security.
Smart Contracts and Audits
Security is a top priority for Gyrowin. The project's smart contracts have undergone thorough audits by leading security providers such as Hacken and Solidproof, ensuring the highest level of safety for users' assets.
Gyrowin is a game-changer in the blockchain and DeFi space, combining the excitement of lottery games with the security and transparency of decentralized finance. With its innovative approach to cross-chain functionality, governance tokens, and staking, Gyrowin is set to reshape the future of gaming and DeFi.
Stay updated with Gyrowin and its development via the official links:
Website | Twitter | Telegram | Docs
Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $400. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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