Converging at the Intersection of DeFi and Tokenization: A Comedy of Errors

So, let me get this straight. We have Ethena Labs and Securitize – the dynamic duo of the crypto world – launching a new blockchain. Why? To give retail and institutional investors a taste of the DeFi and tokenization economies, as if we needed another blockchain. 😒

According to their big announcement, the Converge blockchain is an Ethereum Virtual Machine (whatever that means) that’ll supposedly provide “standard DeFi applications.” Ah yes, because standard applications are exactly what we were missing in this chaotic industry! 🤦‍♂️ Just what the world needs, another platform for finance nerds to squabble over.

And wait, there’s more! They plan to roll out whole bunch of products: Ethereal, Morpho, Maple Labs, Pendle, and Aave Labs’ Horizon. Sounds impressive, right? It’s like they threw a dart at a board of eccentric names and called it innovation! 🎯

Now, Converge will be linked to Securitize’s expanding empire in the tokenization market, boasting about nearly $2 billion minted across blockchains. Wow, how original! BlackRock’s USD Institutional Digital Liquidity Fund (yes, that BlackRock) is already over a billion in net assets. Coincidence? I think not. 💰

They’ll have custodial support from Anchorage and Copper – because, of course, nothing says “trust us” like a financial institution needing multiple layers of security. And let’s not forget about RedStone, their latest guardian. It’s like having a bodyguard for your bodyguard! 🍿

On the DeFi front, get ready to stake Ethena’s native governance token, ENA. Sounds yawn-worthy, but let’s see if it’s as exciting as it sounds! Meanwhile, they’ll use USDe and USDtb stablecoins as gas tokens. Because why make things simple when you can complicate it with jargon? 🤷‍♂️

Institutional DeFi: Seriously?

Oh, and guess what? Institutional DeFi is apparently taking off. Yes, those traditional finance folks are now “optimizing their operations.” It’s like watching a grandpa trying to figure out TikTok – absolutely riveting! 😅

Even JPMorgan, who once scoffed at Bitcoin, is now flirting with the idea that institutional DeFi could grow. What a plot twist! 📈

According to McKinsey, we’re looking at a $2 trillion tokenization market by 2030. So let’s all raise a glass to the financial apocalypse! Cheers! 🥂

As for RWAs, they’re bringing in big bucks because they supposedly fix “pricing inefficiencies.” Who knew making things less complicated could be so profitable? “The cost of capital” and “underpriced volume” – sounds like a bad math problem! 🧮

//s3.cointelegraph.com/uploads/2025-03/0195a58f-5b25-760d-a56f-60378b300173″/>

Read More

• Gaming News: Why Kingdom Come Deliverance II is Winning Hearts – A Reader’s Review

• Why Tina Fey’s Netflix Show The Four Seasons Is a Must-Watch Remake of a Classic Romcom

• Hut 8 ‘self-mining plans’ make it competitive post-halving: Benchmark

• Taylor Swift Denies Involvement as Legal Battle Explodes Between Blake Lively and Justin Baldoni

• The Weeknd Shocks Fans with Unforgettable Grammy Stage Comeback!

• Jujutsu Kaisen Reveals New Gojo and Geto Image That Will Break Your Heart Before the Movie!

• S.T.A.L.K.E.R. 2 Major Patch 1.2 offer 1700 improvements

• Disney Cuts Rachel Zegler’s Screentime Amid Snow White Backlash: What’s Going On?

• Disney’s Animal Kingdom Says Goodbye to ‘It’s Tough to Be a Bug’ for Zootopia Show

• Shundos in Pokemon Go Explained (And Why Players Want Them)

2025-03-18 00:56