Daylight launches DeFi protocol to tokenize electricity revenue

Blockchain startup Daylight has launched a new Ethereum-based decentralized finance (DeFi) protocol to convert electricity into a yield-generating crypto asset. According to CoinDesk, the DayFi protocol aims to channel capital into new solar power facilities by transforming their cash flows into crypto-based yield products. The system will use the GRID stablecoin and the sGRID yield token.