Decoding DeFi narratives for clarity, conviction & smarter plays 📚
Web4
Joined August 2021
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TrycVerse🦋 retweeted
Price is soft. Product kept shipping.
BTC sits near $81–83k. Bitcoin ETFs saw $635M in net outflows on October 22.
Ethereum ETFs saw $110M. Fear and greed is neutral. The tape looks quiet.
The book under it does not. BNB Chain led tokenized equity in Q3 with $25.6B in trading volume, roughly eleven times the prior quarter. Supply reached $1.13B. Holders hit about 1.8 million. Blockworks ranked it first in volume, supply, and holders among tracked chains. RWA perps open interest sits near $18.7B. Public equities are roughly half that book.
The same week, StandX canceled its token and started winding down. Peak TVL was above $200M. It served 237k users. It chose an unlocked DUSD airdrop over a token that would have had to carry the economics. That is one name on a longer list of 82 protocols that shut down in 2026.
The split is clean. Price and ETF flows are soft. Tokenized equity volume, holder counts, and RWA perps open interest are not. Most of the open interest still sits on centralized venues. The onchain slice is the part that can move with new collateral and new venues. The protocols that cannot fund themselves without a token are exiting. The ones that can print volume on existing rails are still expanding.
Source: Blockworks, DefiLlama, Spectre, StandX
Imagine you're already flying from Dubai to London. What if you could make a little extra by carrying a package along the way?
That's the idea behind @MovitOn_P2P.
As a Delivery Agent, you can browse requests and check the route, potential earnings, parcel weight, and security deposit before accepting. The examples shown offer $2 per delivery, with a $1 security deposit.
It's an easy way to make use of the travel capacity on trips people are already taking. I’m curious to see how it goes as more people start using it.
TrycVerse🦋 retweeted
RWA perps book hits $18.7B. Public equities make up half. DEX share is 30%.
1. Top print
RWA perps open interest sits at $18.7B, up 17% in 30 days.
Public equities make up roughly half the book at ~$9.1B.
DEX share is 30.6%. The rest still sits on centralized venues.
2. DeFi RWA
DeFi RWA TVL is $4.25B.
Morpho Blue is the largest protocol in the stack at ~$737M.
Aave V3 and Kamino sit behind it. Utilization remains low.
3. Tokenized stocks
Spot tokenized stock market is near $4B.
BNB Chain has claimed the lead in recent share figures.
Ethereum and Solana trail. The direction has continued.
The book is bigger than the spot stock tokens. Most open interest still sits on centralized venues. The onchain slice is the part that can move with new collateral and new venues.
Source: @DefiLlama
Not every crypto narrative has to be about another token or DeFi feature.
Prediction markets are cool because they let people turn their views on real-world events into something they can actually take part in.
We have seen Platforms like Polymarket bring in idea to a much bigger audience, and now I'm curious about the infrastructure behind it too.
@PRDCTR_IO is going that route with a dedicated AppChain for prediction markets. It’s still early, but this is a category worth keeping an eye on.
TrycVerse🦋 retweeted
Four more stock perps list today. TXN, SOFI, VICR, and TLT. USDT-margined. They open at 15-minute intervals starting 09:00 UTC on @OKX.
@Bybit already runs more than 250 TradFi perpetual contracts. CEO Ben Zhou put cumulative volume at about $180B since the March launch. New names this week go up to 25x. The shelf includes equities, ETFs, and single-name trackers.
This is price exposure, not the share. A CEX perp does not settle into the stock, does not pay the dividend, and does not give voting rights. It clears against the exchange’s book.
The rights product is still the other side. @Securitize’s 12 share entitlements on @solana are 1:1, USDC settlement, no share lending. NYSE ATS and OKXICE are named, not live. @MorganStanley pushed its tokenized-equity ATS support to Q1 2027, later than the prior H2 2026 target.
RWA used inside DeFi crossed $4B on DefiLlama, up from about $600M in mid-2025. That is collateral and pools, not just holdings.
The exchange is already trading the stock. The broker is still building the entitlement. One is volume. The other is ownership. Both are shipping this month.
Source: @OKX, TokenPost, @Bybit
Uncollateralized lending on XRPL is interesting, but trust and transparency need to come first.
You need to know who’s backing the credit, how brokers are doing, and what the real risks are.
That’s why what @XRPLLendingNet is building matters. Better verification and open analytics help you get a clearer picture of the market before jumping in.
Credit needs clarity, too and not only liquidity
Took my time to lookinto @GrayGooExCurve Pad and the 0.7% creator fee is probably the part I find most interesting.
You earn from trades on the curve, and that continues after the token graduates.
No creation fee too.
That’s a pretty decent setup if the token actually gets some volume.
Introducing the Curve pad.
Launch a token on a bonding curve in $GOO.
When the curve fills, it graduates and you get $500 in GOO.
You also earn 0.7% of every trade, on the curve and in the pool.
No creation fee. Live now on Robinhood Chain.
The goo must spread.
Link below!
. @saphyre been pretty quiet lately, turns out they were cooking 👀
Sub-second perps, multiple markets, one account.
Gonna be interesting to see how this plays out on mainnet.
TrycVerse🦋 retweeted
bStocks already work as collateral. Today @Binance starts moving the Funding Account so the rest of the app can follow.
That account becomes a Stocks Account in Jan 2027. Direct stocks stay there. bStocks go to Spot. @BNBCHAIN is being rebuilt around tokenized equities, not the other way around.
BNB RWA TVL just printed a $6B ATH on @rwa_xyz. @Anomapay now lets you hold, send and pay selected bStocks privately. Tokenized-stock hack runs to Oct 11.
Missed Monday.
Spot SOL ETFs $188m last week. @BitwiseInvest took most of it. @solana stables $16.4–17.3B. Solana RWA ~$4.3B distributed, ~720k holders, $7.3B in 30-day transfers. Tokenized equity wallets passed 900k. Alpenglow is not mainnet.
Distributed RWA $38.6B. Represented $358B. Stables $306B. Do not mix the columns. Chains: @ethereum $16.5B, BNB $5.7B on that snapshot, @solana $4.3B, @StellarOrg $3.4B, @avax $1.8B. Platforms: @Securitize ~$4.7B, @OndoFinance ~$3.9B.
Still building: USYC, USDY, $BUIDL. @maplefinance, Centrifuge, Figure. Ondo, xStocks, bStocks. New on Solana: Ondo Franklin Focused Growth, Ondo Hertz, iShares T-bill xStock.
Week shipped: @aave V4 $1.3B deposits, +70% month. @coinbase wrapped fixed-rate BTC credit through @MorphoLabs Midnight on @base. Aave V4 on Base took 7 Coinbase stock tokens as USDC collateral. AAPLc AMZNc GOOGLc METAc MSFTc NVDAc TSLAc. Caps are small: ~$29m collateral, $21m USDC borrow. @StaniKulechov: first week, most borrowing happened over the weekend. LlamaRisk had ~$29k drawn through Monday morning. Product is live. Size is a demo. @chainlink feeds hold Friday close until Sunday night. @OndoFinance Intelligent Portfolios using strategies @BlackRock built for Ondo. @circle Mint asset-backed borrow. @RobinhoodApp Earn $500m+. @MorphoLabs >$90m USDC borrowed against cirBTC on @arc.
Today also: @jumperapp $JUMP sale opens on Legion, runs to Oct 2.
Ahead: Oct 1 @Autheo_Network $THEO. Oct 3 @PirateChain Ironwood. Oct 6 @ethereum Sepolia Glamsterdam. Testnet.
@BNBCHAIN is turning the CEX account into a stocks account. @solana is winning wallet reach. @aave just made the stock token borrowable. That is the week.
Source: @BNBCHAIN, @rwa_xyz, @Binance, @LlamaRisk, @OndoFinance, @tokenterminal
TrycVerse🦋 retweeted
You open a prediction market, pick Yes or No, and wait.
Pretty simple from the user side.
But underneath that, there’s a whole process for verifying the outcome, settling the marke,t and keeping everything running.
That’s the part @PRDCTR_IO is focused on.
Predictor.io is what you interact with. PRDCTR is the infrastructure underneath.
Honestly, that’s the part I’m paying more attention to right now.
🤝 Paid partnership
You open a prediction market, pick Yes or No, and wait.
Pretty simple from the user side.
But underneath that, there’s a whole process for verifying the outcome, settling the marke,t and keeping everything running.
That’s the part @PRDCTR_IO is focused on.
Predictor.io is what you interact with. PRDCTR is the infrastructure underneath.
Honestly, that’s the part I’m paying more attention to right now.
🤝 Paid partnership
TrycVerse🦋 retweeted
Things you should know before participating Jumper ICO
1/ Jumper and LIFI are no longer the same company.
That means @lifiprotocol $52M funding does not sit behind @jumperapp anymore. Separate capital / leadership / roadmap.
That split also opens a two-token path: $JUMP for the app, a future $LIFI for infra, same shape as ZRO and STG.
With the $52M funding you could expect a 500-700M FDV. Without it, a few hundred million is more honest. That is why the ICO is only $75M FDV.
2/ Business model is still thin.
#1 bridging volume but Jumper doesn't charge users fees. Plus the 0.25% still reads as LIFI infra.
Jumper Earn and a Perp are how they try to fix that.
3/ Tokenomics.
Public Sale 4%. Investors 26.07% (1y lock, then 50% + 24 months). Team 14.7% (same, remainder 36 months). Community 33.33% and Treasury 21.9% with no clear unlock.
Jumper did NOT raise from VCs, then list an investor bucket. That looks like LIFI's old VCs are getting $JUMP.
Will I buy ICO? Yes, and I hope for a decent airdrop too.
NFA and DYOR.
