Stablecoins Dominate Solana’s Tokenized Market

According to data from RWA.xyz, the vast majority of Solana’s tokenized value comes from stablecoins. In total, 17 different stablecoins operate on the network, collectively boasting a market cap of over $11.1 billion.

• USD Coin (USDC) leads with more than $8.18 billion in circulation, holding over 70% of the market.

• Tether (USDT) follows with $1.94 billion, representing nearly 17% of the share.

Treasury Assets and Institutional Funds

Beyond stablecoins, tokenized U.S. Treasury debt makes up the second-largest category of RWAs on Solana, amounting to $304.6 million. Of this, a substantial $249.4 million comes from Ondo Finance’s USDY and OUSG products.

Institutional alternative funds also contribute significantly, with $135.2 million in value. Leading this segment is OnRe’s Onchain Yield Coin (ONYc), which accounts for the majority of the allocation.

Outpacing BNB Chain and Closing in on Stellar

This growth places Solana ahead of BNB Chain, which holds $420.9 million in tokenized RWAs, and just shy of Stellar’s $511.5 million.

While Solana’s tokenized asset base still lags behind Ethereum, zkSync Era, and Polygon, crossing the half-billion mark demonstrates the blockchain’s growing credibility as a platform for real-world financial products.

Traditional Finance Eyes Solana

High throughput, low transaction costs, and scalability are making Solana increasingly attractive to banks and institutional players.

The recent partnership between Solana Foundation and R3 highlights this shift. R3’s client network includes financial heavyweights such as HSBC, Bank of America, Euroclear, and the Monetary Authority of Singapore (MAS) — signaling that traditional finance is looking at Solana as a faster and more efficient option for tokenizing real-world assets compared to other chains.

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The post Solana Reaches $500M Milestone in Tokenized Assets appeared first on Coin Engineer.

Team & Founders

Veno Finance is backed by a Cronos ecosystem-focused team specialized in node infrastructure and security. The founding team has extensive experience in enterprise-level node operations. The project follows a vertically integrated model, ensuring long-term reliability and low-cost advantages. 

Ecosystem & Partnerships

Veno Finance has strategic partnerships to enhance the usage of its liquid staking tokens: 

• DeFi Protocols: Integration with VVS Finance, Ferro, Tectonic, SyncSwap, Maverick, and Single Finance for liquidity pools and farming with LCRO, LATOM, LTIA, and LETH. 
• NFT Marketplaces: Minted and Ebisu’s Bay allow NFT trading during unstaking. 
• Other Projects: Ecosystem integrations with Cronos ID, Candy City, PUN, and Kaching expand utility. 

Project Idea

Veno Finance aims to: 

• Remove long wait times and validator management from traditional staking, 
• Offer users liquid, auto-compounding tokens, 
• Maximize the use of these tokens within the ecosystem. 

How It Works 

• Users stake CRO, ATOM, TIA, or ETH. 
• They receive a liquid token (e.g., LCRO, LATOM, LTIA, LETH) with auto-compounding rewards. 
• When unstaking, users get an NFT representing their stake, which can be sold or held until the original token is redeemed. 

Governance

• Veno’s governance token is VNO. Users can: 
• Stake VNO in vaults like Reservoir and Fountain for extra rewards, 
• Participate in voting and incentive mechanisms, 
• Benefit from the Buyback & Burn program to reduce supply. 

Roadmap Highlights 

• 2024 Q3: LETH launch on zkSync Era 
• 2024 Q4: vETH, vUSD, zkCRO yield products 
• 2025: More cross-chain integrations, new liquid staking tokens, ecosystem expansion 

Token Utility 

• Staking Incentives: Earn extra rewards via Reservoir/Fountain 
• Governance: Participate in votes 
• Liquidity Incentives: Additional APY in pools 
• Buyback & Burn Program: Deflationary mechanism 

Token Details 

• Token Name: Veno Finance (VNO) 
• Total Supply: 2,000,000,000 VNO 
• Circulating Supply: 474.51M VNO 
• Max Supply: 2B VNO 

Token Distribution 

• Ecosystem Reserve: 20% (60,000,000 VNO) 
• Listing Reserve: 40% (120,000,000 VNO) 
• Staking Incentives: 25% (75,000,000 VNO) 
• Liquidity Management & Incentives: 15% (45,000,000 VNO) 

Ecosystem & Integrations 

• Cronos ID integration 
• Swap & farming via Ferro Protocol 
• NFT liquidity on Minted Network 
• Liquidity provision on zkSync Era via SyncSwap and Maverick 

Supported Assets & Yields 

• CRO (Cronos PoS): TVL $91.57M, APY 6.38% → LCRO 
• ATOM (Cronos): TVL $179.96K, APY 20.59% → LATOM 
• ETH (zkSync Era): TVL $98.52K → LETH 
• TIA (Cronos): TVL $8.20K, APY 9.39% → LTIA 

Key Features 

• Liquid staking NFTs for liquidity during waiting periods 
• Auto-compounding for optimized passive income 
• Deflationary Buyback & Burn program 
• Low fees (0.2% unstake) and high security 
• Multi-chain support (Cronos + zkSync Era) 

Roadmap Phases 

• Phase 1: CRO staking/unstaking, LCRO integration, NFT liquidity 
• Phase 2: VNO launch, Reservoir/Fountain/Garden, UI/UX improvements 
• Phase 3: Validator expansion, NFT integration, cross-chain bridging 
• Future: Additional token staking, one-click strategies, analytics dashboard, improved liquidity & unstake experience 

Social & Links 

• Website
• Twitter
• Discord

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The post What is Veno Finance (VNO)? Liquid Staking CRO, ATOM, ETH appeared first on Coin Engineer.