Blackrock, TVL records, Minting madness
First they ignore you, then they laugh at you, then they fight you, then you win
Well this is fun isn’t it? And we’re only warming up. This time it’s different haha. What will this cycles narrative be? RWA and composable money it seems — well hey, we know a project that has been building this for 3 years don’t we?
Let’s grab some of Cadbury’s finest and look at numba go up….
- Memory lane
- TVL
- AOB
Memory lane
We are now able to dig into 3 years of Medium articles, so in 2021 the App was riding high
In 2022 it was full bore
And in 2023 we had real-life use of the protocol protecting it’s peg for eUSD and initial stakers went to the barbers
RSV moved over to eUSD sooner than expected
And in a thread which looking back was ON THE MONEY by Soham
I wonder what that looks like now? Well keep reading just to see RTokens in ETH…
TVL
Oh boy.
Ok ETH price has a effect, but that’s a good looking chart. Base is going in the same direction led by hyUSD and bsdETH
Base is growing fast — but Arbitrum is bigly.
hyUSD is now 5th biggest stable on Base — this is a bit behind….
Based ETH is also on fire
Minting today alone :
Staking still going up
And eUSD paying out in staking
So I think it’s fair to say it’s going well. BTW you can mint hyUSD on Base for pennies (as well as eUSD) or swap for USDC and start to LP on Aerodrome and Beefy for big gains.
It’s down to only 130% now :-(
AOB
Ugly Cash is ramping up
I get the newsletter so coming up is the following
Arbitrum is ongoing — contracts are deployed
There’s a fledgeling Brazilian community starting
Now then — Blackrock.
Mr Fink has gone on record saying tokenisation is the future — instant settlement — dominant form of bringing products will be ETFs.
That just happens to be Reserves vision — to tokenise real world assets and allow people to make money from them. Blackrock are in fact doing just that — BUIDL is BlackRock USD Institutional Digital Liquidity Fund :
Wow — see the similarities. And Reserve is fully ready to integrate this kind of thing. Next up — the RToken gold rush — mixing metaphors there but once these things become available then to be able to create an RToken and utilise it will be the next step. And they will be fighting for RSR backing as safety nets.
Good stuff.
Round up
Larry — gone — poor, poor, dear, dear Larry
Thomas and Gabo chat stablecoins and Ugly Cash
Vaya heating up as well!
Lets go!
