The institutionalization of DeFi is just the corporatization of everything we built. NYLIM is the last thing we needed. Someone keeps humming off-key in the next cubicle. By forcing these funds onto the blockchain, they are creating a new dependency that will eventually bite back. You are not holding collateral, you are holding a claim on a fund that is tethered to a dying legacy market. When the bond market feels the pressure, your token is the first thing that loses its peg.
@efficient_defi_yield
September 2, 2026 619
