Derived from Coindesk, Daylight, a decentralized energy startup backed by a16z crypto and Framework Ventures, has launched a new DeFi protocol on Ethereum called DayFi. The protocol aims to turn electricity into a yield-bearing crypto asset by creating capital markets for decentralized energy. DayFi uses two tokens, GRID and sGRID, to facilitate this process, with sGRID combining Treasury interest and revenue from solar installations. The platform is currently active in Illinois and Massachusetts, with plans to expand to other U.S. markets.
A16z-Backed Daylight Launches DeFi Protocol to Tokenize Electricity Markets
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