Topic
Using tokenized real-world assets as collateral to borrow stablecoins, and the lending protocols that accept them.
Coinbase reports $228 million of cumulative volume across ten equity tokens on Base, with one early day close to half that total. Alpaca holds the underlying shares under Abu Dhabi oversight, and Regulation S keeps US persons out.
Reality
Custom Pairs makes a tokenized equity the settlement side of a meme trade, which is real distribution attached to a very small destination, since one day of that volume ran about 34 times the deposits in Morpho's SPYx vault.
Reality
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
Aave V3 holds more than half of all gold tokens pledged across DeFi lending, but only about 1.5% of the $4.2 billion PAXG and XAUT supply has been posted as collateral anywhere.
Reality
About $111 million of tokenized equities sits inside 15 DeFi apps, and Solana's tokenized-stock lending pool more than doubled in two weeks. Kamino Lend holds most of it.
Reality