Daylight, backed by a16z, launches the DayFi protocol, converting electricity into crypto yield assets

A blockchain startup supported by a16z and Framework Ventures, Daylight, has launched a new protocol called DayFi on Ethereum today, aimed at converting electricity into yield-generating crypto assets.

The protocol combines GRID stablecoin and sGRID yield tokens to finance solar installations and return tokenized yields to investors, addressing the growing electricity demand in areas such as data centers and electric vehicles. Daylight founder Jason Badeaux stated that distributed energy provides the fastest and most economical way to scale energy production and storage on the grid. Currently, Daylight is operating in Illinois and Massachusetts, with plans to expand to more U.S. regional markets such as California.