terminal finance accumulated $200m tvl during october 11th liquidations and announced securitize partnership same day. building new erc standard for equity tokenization with blackrock's $4.6b rwa partner. base needs compliant rails for coinbase's 110m users. ethena backing plus december tge with actual tvl not vapor. tusde already beating usde liquidity on pendle at 18.6% apy. institutions positioning before the token exists
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