Internet reports that BlackRock's nearly US$3 billion tokenized treasury bond fund BUIDL has completed the "first direct DeFi protocol integration" and connected to the Euler protocol on Avalanche. This integration is based on the sToken framework developed by Securitize, allowing BUIDL token products to be further expanded on-chain. sBUIDL is a combinable ERC-20 token that can be fully exchanged for BUIDL funds. The integration, developed by Re7 Labs, allows users to lend USDC or AUSD with sBUIDL as collateral and earn the underlying income of AVAX rewards and BUIDL funds. "It converts BUIDL into a composable ERC-20, achieving on-chain practicality without affecting convertibility," Euler said.