“Tokenization is just a digital receipt. What makes it productive is the ability to borrow against it as collateral.” Cheryl Chan, Head of Strategy and Growth at Kamino on why institutions are putting tokenized assets to work on Solana.

Hear more on tokenized assets at Breakpoint London, Nov 15–17:

@cheryldchan @kamino Facts I love tokenization CATE will be the ultimate token 🐈🐈

@cheryldchan @kamino Composability.

@cheryldchan Solana.

@cheryldchan @kamino Man I love Cate on Solana

@cheryldchan @kamino Spot on. Digitizing ownership is just a formality. The real value unlocks when an asset stops sitting idle and actually gets put to work in the financial system.

@cheryldchan @kamino Collateral use is the real test of tokenization, but it moves the risk to liquidation. A tokenized bond or stock only works as collateral if it can be sold on chain in size when markets are closed. What happens to the loan when the underlying isn't trading?

@cheryldchan @kamino Tokenize everything on Solana

@cheryldchan @kamino "What makes it productive is the ability to borrow against it as collateral.”

@cheryldchan @kamino ct been borrowing against jpegs since 2021

@cheryldchan @kamino nailed

@cheryldchan @kamino Tokenization without leverage is just a fancy receipt collecting dust. The moment institutions can actually borrow against it, that capital finally gets a real VOICE onchain. Solana’s already built for it.

@cheryldchan @kamino Collateral velocity matters more than the token itself.

@cheryldchan @kamino agree, and the other half is a price you can trust at 3am. when the home market is closed but the token keeps trading on-chain, collateral is only as good as its oracle and the liquidity behind it

@cheryldchan @kamino bags are working

@cheryldchan @kamino The receipt is the easy part. The real constraint shows up at liquidation: tokenized T-bills still settle T+1 off-chain, so a collateral call on a weekend is a legal event, not a code event. Productivity only holds if the custodian and the court agree on who owns what at 3am.

@cheryldchan @kamino stability is the real flex

@cheryldchan @kamino Collateral utility is what turns tokenization into real financial infrastructure.

@cheryldchan @kamino digital receipt. real ballot. vote in the Solana Community Awards!!

@cheryldchan @kamino Tokenize the World (on @solana).

@cheryldchan @kamino kamino TVL going to 10x from here

@cheryldchan @kamino When institutions understand that they can borrow against those assets while keeping them under their custody and compliance, then volume will explode on Solana.

@cheryldchan @kamino 30% $SOL collateral utilization, still room