The Problem

Despite billions in on-chain capital, there’s still no reliable way for institutions or DAOs to earn real-world yield without leaving the blockchain.

Today, most crypto treasuries either sit idle in stablecoins or deploy into high-risk DeFi strategies. Meanwhile, traditional fixed-income products—like U.S. corporate bonds and T-bills—offer stable, regulated yield above 5%, but remain trapped in off-chain systems that require banks, brokers, and regulatory onboarding. This disconnect forces crypto-native organizations to choose between yield and self-custody—and limits the financial efficiency of the entire on-chain economy.

At the same time, companies holding crypto on their balance sheets (like Bitcoin) have no way to earn real-world yield while preserving upside exposure. The capital is on-chain, but the opportunity isn’t.