The market is validating the use of tokenized stocks as collateral
@krakenpro yesterday: use them for futures and margin (centralized)
@nestusd two weeks ago: mint a productive stablecoin against them (onchain)
The largest US-friendly CEX and the youngest DeFi protocol landing on the same idea, both working with @xStocksFi
solana:68Nq68CrtLVpyvK5Un7UADiNczaGf39hBbj3diRsYj6D at $5.6M mcap, and has just reached $1.07M TVL
stocks on solana new ATH ($550M)
NUSD, stablecoin with tokenized equities collateral, new ATH ($508K TVL)
solana:68Nq68CrtLVpyvK5Un7UADiNczaGf39hBbj3diRsYj6D
DWF Labs just outlined the tokenization opportunity:
"Any protocol that can layer yield onto these assets at scale, through usage as collateral for stablecoins... the protocol that cracks this first can capture long-term holders."
That's what we built, NUSD, a stablecoin on Solana, tokenized stocks as CDP collateral, equity dividends routed to sNUSD stakers
One week in, $300K+ TVL
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