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@0xNairolf 🕵️‍♂️

@0xNairolf which established protocols do you see actually capturing that revenue first?

@0xNairolf agree, though 2b minted vs 0.15b in DeFi says a lot of wrappers still can't move permissionlessly, so the revenue goes to whichever issuer Morpho and Aave curators are willing to underwrite first, not to the trillions in theory

@0xNairolf the real unlock is making permissioned assets composable enough for DeFi to underwrite at scale

@0xNairolf most value this cycle feels early when tvl is still that small the 1000x experiments are fun but the real signal is when established protocols start printing fees from tokenized collateral

@0xNairolf The hurdle is handling corporate actions and dividend yields cleanly inside permissionless pools.

@0xNairolf Yeah but have you heard of ATPs? x.com/Bitwise/status/209226584…

@0xNairolf 1000x experiments are cool but the real signal is the 0.15b tvl that gap is the entire thesis

@0xNairolf onchain lombard loans is going to be next level incredible

@0xNairolf DeFi hasn't grown a ton since 2021, so bringing new value onchain (e.g. through tokenized stocks) will be a massive capital unlock.

@0xNairolf Definitely. This will be a huge multiplier!

@0xNairolf Agree on the direction. The bit that will decide how big it gets is eligibility, since tokenised equities can only be posted as collateral by holders who qualify. Different problem from the ones DeFi usually solves, but very solvable.

@0xNairolf May be. But i still struggle to see them offering benefits enough to lure people away from perp dexes. Perps offer cross margin and increbible liquidity. Today's stock tokens are illiquid and hard to use in most defi platforms

@0xNairolf The long awaited non native revenue streams finally got their way in, the harder part is beyond us

@0xNairolf Wait till USD corporate bonds from the Apples and Googles of the world come onchain, straight into the heart of DeFi yield markets. Dozens of integrations from day one.

@0xNairolf Few

@0xNairolf True, composability is the next step.

@0xNairolf DeFi around them is still very early