Director of Research @serotonin_hq • Prev: @MessariCrypto • Nomad 🌎
Chicago
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Pleasure working with @nomos_paradox, @jensenhaji, and the @ChronicleLabs team on this research!
Only 29.2% of the tokenized asset market's value offers verifiable, asset-level holdings data.
If unaddressed at the projected trillion-dollar scale, that becomes a systemic risk.
Only 29.2% of tokenized assets are verifiably transparent. $12.3 billion is asking for trust.
These are the findings in Chronicle’s new report, where we evaluated 20 of the largest tokenized assets against five measurable dimensions of transparency.
Read the full report: chroniclelabs.org/resources/…
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Centrifuge has no existing equity, just a token.
As institutional partners performed due diligence on @centrifuge, being a token-governed protocol kept coming up as a risk.
@itsbhaji explains CP172, which passed with 98% approval and will convert CFG into tokenized equity.
Ep. 01 of Conviction with @solofunk is live.
Our first guest is @itsbhaji, Co-founder & CEO of @centrifuge.
Her Conviction: finance will be rebuilt around onchain vaults.
"All assets in the future will be tokenized."
“As ETFs leapfrogged mutual funds, vaults will leapfrog ETFs as the next fund structure that the largest asset managers in the world will build their strategies around."
"The token was coming up in a lot of these conversations as a risk for working with Centrifuge. We were losing deals that we weren't even participating in, because these large institutions have mandates where they can't take on the risk of building their business with a token-governed protocol."
"Companies need one value accrual mechanism. Those that manage token businesses and equity businesses at the same time often struggle with conflicting incentives."
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Conviction is live!
Each 20-minute episode will highlight the convictions of those building at the frontier of onchain finance. Pleasure to have @itsbhaji from @centrifuge as our first guest.
Don't forget to like and subscribe. It would mean a lot!
Ep. 01 of Conviction with @solofunk is live.
Our first guest is @itsbhaji, Co-founder & CEO of @centrifuge.
Her Conviction: finance will be rebuilt around onchain vaults.
"All assets in the future will be tokenized."
“As ETFs leapfrogged mutual funds, vaults will leapfrog ETFs as the next fund structure that the largest asset managers in the world will build their strategies around."
"The token was coming up in a lot of these conversations as a risk for working with Centrifuge. We were losing deals that we weren't even participating in, because these large institutions have mandates where they can't take on the risk of building their business with a token-governed protocol."
"Companies need one value accrual mechanism. Those that manage token businesses and equity businesses at the same time often struggle with conflicting incentives."
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So excited to put out the first episode of Conviction with @itsbhaji from @centrifuge!
I didn't expect to become a video editor, but it has been fun, as has the creative process leading up to all this.
Final hour tweaks and designs are being made. Catch Ep. 01 tomorrow!
We're launching a show at @serotonin_hq!
I'll be hosting guests on 20-minute episodes about how finance is moving onchain, highlighting the convictions of those building at the frontier.
The first episode of Conviction∎ drops this week.
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We're launching a show at @serotonin_hq!
I'll be hosting guests on 20-minute episodes about how finance is moving onchain, highlighting the convictions of those building at the frontier.
The first episode of Conviction∎ drops this week.
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New RWA just launched, and it could set a precedent.
ARK Venture Fund by @ARKInvest is an SEC-registered fund available to retail investors that invests in both public (@SpaceX, @Figure) and private companies (@OpenAI, @Kalshi, @AnthropicAI).
The fund is tokenized on Ethereum by @Securitize, with tokens minted and delivered to your wallet T+1.
ARK will offer up to 5% redemption liquidity quarterly. This is where instant liquidity providers like @FissionXYZ and @multiliquid_xyz can step in to offer a quicker exit.
The fund is open to investors regardless of accreditation, and if instant liquidity is available, $ARKVX could become collateral on DeFi protocols like @Morpho.
The @SECGov approving this move may set a precedent. Tokenized share classes could become a standard feature for registered funds, rather than requiring one-off bespoke relief each time.
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Programmatic finance can't function when RWAs settle tomorrow.
@multiliquid_xyz enables instant swaps for funds tokenized by @centrifuge, @SuperstateInc, @Securitize, and others.
Liquidity makes RWAs usable as DeFi collateral, yield-bearing treasury assets, and working capital.
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Doubled down on $CREDITSTR by @token_works.
Market cap is $900k. Treasury holds $850k in ETH + $98k in Credit NFTs. Total value is $948k.
$CREDITSTR is trading at 0.95x NAV.
Can't help but feel this is underpriced. All Credits are now circulating. There is no more overhang. Floor price is ranging around a healthy $60.
CreditStrategy is actively cornering supply and is already the largest holder with 1.25% of all Credits.
Even if the floor drops, 89.6% of CreditStrategy's ETH remains to bid it. ETH runway is currently 7.2 days and should last until burning for Statements goes live next week.
Only a matter of time before floor price bottoms and the flywheel begins.
I missed out on the @jackbutcher mint. Bought $CREDITSTR by @token_works to compensate.
Finally looked into this post-mint and was captivated.
There are 122,080 Credits.
You can burn 80 of them to create a Statement.
There will only ever be 1,526 Statements.
The art is sick.
Floor price for Credits is ranging, currently at $88, with the NFT distribution ongoing.
$CREDITSTR is trading at $1.5M market cap, with the CreditStrategy treasury at ~$950k. Only ~2.2% of the treasury has been deployed to purchase Credits.
The price of Credits is likely to drop from these levels as more are distributed tomorrow, but with a week until they can be redeemed for Statements, a lot can happen...
Trading activity and speculation on Credits will continue, leading to $CREDITSTR volume. That would generate fees and grow the treasury. CreditStrategy could become the largest holder of Credits.
Demand for Statements could be high. A lot of people are excited. I don't recall a @token_works strategy launching simultaneously with a hyped NFT launch like this.
Onchain szn is here. There have been murmurs of NFTs heating up. Is a squeeze on Credits in the cards?
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What happens when @elonmusk takes notice?
I wonder if @elonmusk noticed that 7,162~ X accounts and 25,225~ unique wallets participated in @jackbutcher Open Edition at $8 per using @XMoney
The total supply is around 122,154 @ $8 which is around $977,232 that was sent using X Money
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I missed out on the @jackbutcher mint. Bought $CREDITSTR by @token_works to compensate.
Finally looked into this post-mint and was captivated.
There are 122,080 Credits.
You can burn 80 of them to create a Statement.
There will only ever be 1,526 Statements.
The art is sick.
Floor price for Credits is ranging, currently at $88, with the NFT distribution ongoing.
$CREDITSTR is trading at $1.5M market cap, with the CreditStrategy treasury at ~$950k. Only ~2.2% of the treasury has been deployed to purchase Credits.
The price of Credits is likely to drop from these levels as more are distributed tomorrow, but with a week until they can be redeemed for Statements, a lot can happen...
Trading activity and speculation on Credits will continue, leading to $CREDITSTR volume. That would generate fees and grow the treasury. CreditStrategy could become the largest holder of Credits.
Demand for Statements could be high. A lot of people are excited. I don't recall a @token_works strategy launching simultaneously with a hyped NFT launch like this.
Onchain szn is here. There have been murmurs of NFTs heating up. Is a squeeze on Credits in the cards?
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The longer the time to redemption, the less compatible an RWA becomes with DeFi.
Today, @FissionXYZ underwrites 8 funds tokenized by @centrifuge, @Securitize, and @MidasRWA, pricing instant liquidity daily.
Dependable exits expand utility and let tokenized assets scale.
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Keep an eye on @tarecredit. Their $13.25M seed round stood out to me last week.
Killer trio of founders in @humancapitol, @keerthimoudgal, and @lucasvo. An ambitious mission to rebuild legacy credit infrastructure, disintermediate it, and make credit more efficient. Loan origination to eventual repayment, all onchain.
Tare is on Avalanche. Awesome get for @avax. Two credit giants, @apolloglobal and @JHIAdvisors, are on the cap table, but @bcap led the round. They've been crushing it.
Amazing thought leadership in 2026. I've enjoyed articles from @jonah_b and @CremeDeLaCrypto in particular, and it seems @enaraxr has been supercharging that with her marketing efforts. Kudos!
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Hyped for Cryptosphere Fantasy Football to kick off.
Follow us on @fomo and @X to track weekly trades in our $8,400 pot!
Find us @Cryptosphere_FF.
The @NFL is here. Tonight, we kick off Cryptosphere Fantasy Football on @SleeperHQ 🏈
Two leagues. Twelve players each. Winners face off in Week 17. The stakes?
$8,400 pot on @fomo. Each week's highest-scoring player can trade. In 2024, we 3x'd from the AI meta. Run it back 📈
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