company
Issuer of USDY, a tokenized Treasury-backed product reported at around $2.15B and live on Solana.
No evidence-backed relationships are recorded.
A single $2.3M QQQon buy got the attention, but the consequential fact is 430-plus tokenized equities now serving as DeFi lending collateral on Morpho and Euler.
Reality
Binance's bStocks passed xStocks in under two months to become the second-largest issuer. The category grew roughly 34x in a year, and the leaderboard now rewards whoever already owns the order flow.
Reality
Token Terminal counts $611.5 million across 640-plus tokenized fund products, up 826% in a year. The average product holds under $1 million, which tells you where the contest actually is.
Reality
BUIDL, USDY and Galaxy's SWEEP now sit on Solana. Ethereum still holds roughly 43% of a $16.23B market, but last month's net flows did not go there.
Reality