1/Institutional capital doesn't allocate to yield.
It allocates to infrastructure.
Execution.
Accounting.
Governance.
Risk controls.
Yield is simply the output.
7/ Because the next generation of on-chain asset management won't be defined by who manages capital.
It will be defined by the infrastructure capital runs on.
7/ That's where the next wave of DeFi infrastructure will be built.
Not around stablecoins alone.
Around productive digital assets.
Because that's where most of the capital still sits.
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