thomas

The DeFi allocators see is a marketing deck.
I write the version that isn't.
Risk first, vibes never. →

[thomas @thomasonchain]

I've been in DeFi since 2019.

Bought my first token on PancakeSwap when the UI looked like a high school project.

Here's what nobody tells allocators about this space.

(a thread)

[thomas @thomasonchain]

RWA has three layers:

Layer 1: Assets. Treasuries dominate. Circle and BlackRock lead.

Layer 2: Rails. Centrifuge, Ondo, Dinari build issuance infra. Value accrues here.

Layer 3: Access. Exchanges, wallets.

TVL flows to Layer 1. The moat is Layer 2.

[thomas @thomasonchain]

Good bait

[world @world_xyz]

update: 2.3M views

thanks for playing

solana forever

i love you

[thomas @thomasonchain]

BlackRock BUIDL just crossed $3B, up 20% in a week.

BTC dropped 2% over the same period.

Institutions buy onchain treasuries regardless of market conditions.

RWA tokenization does not need a bull run. That is why it wins.

[thomas @thomasonchain]

BlackRock BUIDL just crossed B, up 20% in a week.

BTC dropped 2% over the same period.

Institutions buy onchain treasuries regardless of market conditions.

RWA tokenization doesn't need a bull run. That's why it wins.

[thomas @thomasonchain]

RWA has three layers:

Layer 1: Assets. Treasuries dominate. Circle and BlackRock lead.

Layer 2: Rails. Centrifuge, Ondo, Dinari build issuance infra. Value accrues here.

Layer 3: Access. Exchanges, wallets.

TVL flows to Layer 1. The moat is Layer 2.

[Solana @solana]

After careful deliberation:
Solana

[thomas @thomasonchain]

Bear market is hitting hard

Sad to see Zapper leaving

[seb ⚡️ @sebaudet26]

https://t.co/nPrY80SuCK

[thomas @thomasonchain]

Spiko hit $1.21B TVL this week, up 10% in 7 days.\n\nA regulated French Money Market Fund tokenized on Stellar. Not Ethereum. Not Solana.\n\nRWA is expanding to new chains. Watch this one.\n\nData via @DefiLlama

[thomas @thomasonchain]

7/ Follow for daily RWA data.\n\nThe tokenized economy is being built in real time. Do not blink.

[thomas @thomasonchain]

1/ Tokenized equities hit $3.86B in monthly volume in June. A new record.\n\nSpacex IPO tokens alone captured $1.19B. That is 31% of the total.\n\nThis is the RWA breakout. Not a trend anymore.

[thomas @thomasonchain]

6/ The SpaceX IPO forced the market to take tokenized equities seriously.\n\n$3.86B in monthly volume is the proof point.\n\nRWA tokenization was always the thesis. Now it is infrastructure. Early innings of a structural shift.

[Cocopark @realcocopark]

Think of this as an evolving historical record of @ethena .

Markets move fast, information changes, and it’s always possible that I’ve missed something.

If you have corrections or additional context, please share them in the comments. I’ll review everything and update the thread whenever necessary.

[thomas @thomasonchain]

Securitize raised $400M via NYSE to build the institutional tokenization stack.
Not to buy competitors: to build the rails.
When the sector's bellwether goes public and loads up on dry powder, the entire RWA market gets a signal.

Worth a read.

[thomas @thomasonchain]

JPMorgan's JLTXX tokenized fund grew 250% in one month on Ethereum.
That is not a pilot. That is production.
Banks do not scale experiments. They scale what works.
Tokenization is what works.

What do you think?

[thomas @thomasonchain]

RWA protocols break into 3 layers:

Layer 1: Treasuries (USYC, BUIDL). Stable, institutional.
Layer 2: Commodities (XAUt, PAXG). Gold onchain.
Layer 3: Credit (Centrifuge, Maple). Higher yield.

Most capital: L1. Most upside: L3.

Bookmark this one.

[thomas @thomasonchain]

@syntropia_ai @DefiLlama Solana is for retail. Ethereum for institutional. Looks obvious to date

[thomas @thomasonchain]

xStocks on Solana: +32% in 7 days to $310M TVL.

Tokenized equities are finding real distribution on Solana's retail rails.

RWA adoption isn't theoretical. It's compounding every week.

Data via @DefiLlama