At #MIGlobal#, @BarrySilbert shared his hope that the future of AI is decentralized: “Having a token, in the case of Bittensor something called $TAO, serves as this amazing mechanism to enable anybody in the world to compete, to participate, to monetize intelligence to power AI”

As innovation accelerates, the question isn't whether markets will evolve. It's how they're built to support it. Chair and CEO @adenatfriedman joins leaders at @MilkenInstitute Asia. #MIGlobal#

Avalanche Brings $1.3T Wellington Strategy Onchain Midas has launched mWIN and mGLOBAL on Avalanche (@avax), bringing two institutional strategies onchain. mWIN is linked to a multi-sector fixed income portfolio managed by Wellington Management. Wellington manages more than $1.3 trillion across its broader investment business. mGLOBAL tracks Fasanara Capital’s Global Diversified Alternative Debt strategy, worth over $6 billion. Both products are designed to become programmable and transferable across Avalanche’s DeFi ecosystem.

Two onchain access models. One underlying institutional credit strategy by @FasanaraCapital . Over $100M in TVL. mGLOBAL & mGLO have surpassed $100M in combined TVL, just weeks after launch. • mGLOBAL: $67M on Ethereum, live as collateral on @aave → • mGLO: $40M on Base, live as collateral on @Morpho →

Transparency Snapshot: Top 10 TVL 🔷 $214.36M in White Label Vaults 🔷 $74.21M in mTBILL 🔷 $67.34M in mGLOBAL 🔷 $65.28M in mF-ONE 🔷 $61.00M in mGLO 🔷 $36.01M in mWIN 🔷 $31.70M in mHYPER 🔷 $31.12M in MSL 🔷 $27.09M in mHyperBTC 🔷 $26.37M in mM1-USD All details:

Transparency Snapshot: Top 10 TVL 🔷 $197.82M in White Label Vaults 🔷 $70.94M in mF-ONE 🔷 $68.60M in mGLOBAL 🔷 $66.62M in mTBILL 🔷 $40.28M in mGLO 🔷 $38.05M in mHYPER 🔷 $31.00M in MSL 🔷 $26.19M in mM1-USD 🔷 $25.61M in mHyperBTC 🔷 $14.89M in mWIN All details:

.@fraxfinance and @GearboxProtocol are putting tokenized real-world assets to work onchain. Gearbox’s Institutional RWA markets use $frxUSD as their lending asset, with Midas assets mF-ONE and mGLOBAL providing exposure to institutional credit strategies managed by Fasanara Capital. Frax approved an allocation cap of $5M for this market through its $sfrxUSD strategy framework. The live dashboard shows $2.55M supplied to the $frxUSD pool, alongside $1.17M in mGLOBAL/frxUSD and $1.19M in mF-ONE/frxUSD leverage markets. The key mechanism is how the structure connects stablecoin liquidity with tokenized credit. Idle $frxUSD earns Treasury yield, while utilized liquidity can generate additional borrower interest. A concrete example of DeFi infrastructure connecting stablecoin liquidity with institutional RWA markets.

Robinhood Chain, Polygon, Morpho, Gearbox, Midas and Monerium. $frxUSD is showing up across a growing number of onchain markets lately. On Robinhood Chain, frxUSD became the first stablecoin pool on @fablesfi. Since then, Fables has added aUSD/frxUSD with Arrow, eUSD/frxUSD with Own and a new frxUSD/USDG market. The Own integration is a good example of where this is heading. eUSD is an overcollateralized dollar backed by tokenized S&P 500 exposure, giving frxUSD a direct liquidity pairing with another RWA-native dollar. On @0xPolygon, frxUSD is moving into FX and credit markets. @Featherlend launched BRZ and frxUSD Morpho vaults. sfrxUSD and tokenized Brazilian Treasury exposure can be used to borrow BRZ, while tGBP, BRZ, sPOL and sfrxUSD can be used to borrow frxUSD. Monerium, Frax and Capa also launched a EURe/frxUSD pool on Uniswap v3. EURe is a MiCA-compliant euro e-money token backed 1:1 by safeguarded euro reserves. The new pool gives EURe a direct onchain route into dollar liquidity through frxUSD, creating a simple EUR/USD market on Polygon. The RWA side is expanding as well. @GearboxProtocol launched one-click leverage for Midas’ mF-ONE and mGLOBAL strategies, managed by Fasanara Capital, with frxUSD as the borrowing asset. Users can access leveraged exposure to tokenized institutional credit through a single credit account. RE7 Labs also launched a Morpho V2 vault that accepts frxUSD deposits and deploys them into curated USDai markets, with sUSDai as the current lending market. RIFT added frxUSD to its onchain execution infrastructure across Ethereum, Base and Ink. Frax already has a strong FX presence on Polygon through Curve and DFB, with frxUSD paired against BRZ, tGBP, IDRX, AUDF and KRWQ. I like seeing frxUSD move into all these different markets. FX, tokenized equities, Brazilian Treasury exposure and institutional credit are all finding different ways to use frxUSD Lets see what comes next 👀