According to news from PANews on May 24, according to Cointelegraph, the decentralized financial protocol Voltz now allows Avalanche users to trade interest rate swaps on the secured overnight financing rate (SOFR). The new features will help level the playing field between retail investors and large institutions. SOFR is the overnight lending rate that institutions pay when they use U.S. Treasury bonds as collateral. It was created to replace the old London Interbank Offered Rate (LIBOR). Because loans backed by Treasury bonds are considered very low risk, SOFR is often used as a benchmark for calculating other interest rates. SOFR is heavily influenced by the federal funds rate set by the Federal Reserve.