Draconian roll call 🥁
Like, retweet, and drop your Aptos wallet address + Draconians in the comments for a chance at a $MESO airdrop from @Meso_Finance 🔥
The frost thickens. The Penguin Chronicles mint approaches - May 14🐧
We’ve secured another 10 WL spots for the Shinjins. Step forward if you seek one
1. Follow @penguinonaptos & @AmaterasuSekai 🤝
2. Like + RT 👍
3. Drop your wallet below 👇
Not all who enter will be chosen.
But those who are, carve their name in ice 🧊🌊🗻
🚨I’M BUYING SOME $ENA HERE
Let me tell you why:
1. $ENA and @Securitize are launching Converge, an RWA-focused blockchain just like $Ondo is developing.
Converge will be used as a blockchain geared towards institutions where users and their capital can avail of both permissionless and permissioned finance. Validators must stake $ENA to secure the network, and if institutions are successfully onboarded it could lead to Converge becoming one of the largest blockchains in the industry, driving utility back to $ENA.
The network will support both permissionless DeFi apps and permissioned institutional products, bridging traditional finance and crypto rails on a single chain.
@ethena partnered with @Securitize@arbitrum@celestia to launch this new network (@convergeonchain ) and aiming for mainnet launch in Q2 2025.
2. Directly launching with @Securitize is extremely bullish to me.
Why?
The new SEC chairman, Paul Atkins, was on the board of @Securitize and once we get regulatory clarity around RWAs, $ENA will be one of the first movers.
So what’s Securitize's role?
Securitize has already issued $2B+ in RWAs.
With Converge, it will:
- Issue future tokenized assets here
- Enable seamless RWA onboarding
- Maintain cross-chain interoperability via existing infra
3. Also, @Securitize has a partnership with @BlackRock and @BlackRock was the lead investor in their recent round of funding.
I don’t need to explain again how bullish Larry Fink (CEO of @BlackRock ) is on tokenization and having @BlackRock & @Securitize helping $ENA develop an RWA focused blockchain WITH the future support of the SEC Chairman is extremely bullish
4. The investor list is stacked with some of the best crypto and tradfi VCs. This is a MUST because they’re all incentivized to help $ENA not only develop and launch the new chain but also get TradFi to start tokenizing assets on their chain.
Crypto VCs
- Pantera Capital
- Galaxy Digital
- Binance Labs
- Gemini
- Wintermute
- Brevan Howard
- & More
TradFi Investors
- @BlackRock
- Hamilton Lane
- Franklin Templeton
5. Ethena has over $6.2bn of total TVL across USDe and USDtb and with the new RWA blockchain launching in Q2 2025, this number can explode even further after launch. They’re planning on $8B of assets to be tokenized on-chain.
6. $ENA, Ethena's governance token, will secure the chain via sENA staking.
But unlike other blockchains, Converge won't just use ETH for gas.
Instead, USDe and USDtb - stablecoins issued by Ethena/Securitize - will power transactions.
The dollar becomes the gas. 🤯
Final Thoughts:
Both $Ondo and $ENA are working on RWA focused blockchain and both of them have DEEP connections with @BlackRock, Paul Atkins, the US government, top crypto and traditional finance VCs/companies.
This will be a battle like Apple & Microsoft but there’s no reason why I shouldn’t own both. And with $ENA down 62% YTD, I’m comfortable grabbing a bag here.