Compute-Backed Credit on @solana.
Introducing the USDai Market on Kamino, curated by @AllezLabs.
@USDai_Official's yield-bearing dollar is backed by secured loans financing GPU infrastructure, bringing institutional GPU-backed credit to Solana.
Just finished accumulating a bigger solana:KMNo3nJsBXfcpJTVhZcXLW7RmTwTt4GVFE7suUBo9sS position on the open market.
Very bullish on the overall trend of tokenized equities, and I genuinely believe the supply here grows another 100x from here, led by @solana.
I've been thinking a lot about how to best position for this. I'm a big fan of what Backpack, Securitize and co are doing, but I'm still hesitant on the business model and monetizability of the issuers, especially at these valuations.
Much more interesting to me are the businesses and protocols actually built on top of that layer, the ones that benefit massively from this secular trend.
DEXs are the obvious play here, but what has excited me far more is @kamino.
I'm usually not overly excited about lending businesses, but they made the move into tokenized equity lending early and have been dominating market share ever since. As I expect this market to grow orders of magnitude from here, there's a realistic path for Kamino to massively expand their business in a positive-sum way, and a real shot at rivaling Morpho. Especially since I expect tokenized equities to keep being led by Solana, which Kamino has already proven it can dominate.
Beyond that, the recent hire of @WeiszM is massive, and in my opinion still overlooked. If you want to dominate the upcoming institutional adoption and the influx of trillions in capital as an onchain financial business, you need someone at the top who not only speaks the TradFi language, but has the background and network to actually get the right things moving and open the right doors.
Let's see how this evolves, but definitely one of the more interestingly positioned DeFi protocols right ahead of a massive DeFi supercycle.
even with the broader market pulling back slightly, $UNI is still holding around the $7 area pretty well
more importantly, @Uniswap keeps seeing new catalysts emerge:
- 90K+ v4 hooks have been initialized and linked to deployed pools.
- @AnchoredFi tokenized stocks are now live on Uniswap Apps via Arbitrum.
- $PONS ranked #1 among top swaps on Uniswap Apps for the week of 8/30–9/6.
- Uniswap Labs has also purchased $PONS for long-term alignment.
$UNI is showing relative strength while the ecosystem continues expanding across hooks, RWA, and app activity.
NFA.