Keel Sails into Solana with a Whopping $2.5B – Will It Sink or Swim? 🚀💰

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Finance

What ho, old sport! Here’s the lowdown:

  • Keel, the newest darling of the Solana set, has sashayed onto the scene with a roadmap to fling about $2.5 billion into DeFi and RWA markets. Toodle pip! 💼✨
  • This plucky protocol is getting a tidy sum from Sky’s USDS stablecoin reserves to splash about in Solana-based apps like Kamino, Jupiter, and Raydium. Talk about living large! 🍾
  • Keel joins the ranks of Spark and Grove as the third “star” in the Sky ecosystem (formerly known as MakerDAO, darling). Quite the celestial trio, what? 🌟

Well, I’ll be jiggered! Keel, the spiffing new Solana-native capital allocator, made its debut on Tuesday with plans to chuck up to $2.5 billion into decentralized finance (DeFi) and tokenized asset markets. Top hole!

Keel’s part of the Sky ecosystem, old bean-that’s the spruced-up version of MakerDAO, now with a snazzy “Endgame” overhaul. They’ve gone and created smaller units called “stars,” each with its own governance and innovation. Sky’s all about issuing USDS and decentralized stablecoins, mind you, with a combined supply of over $7 billion. Not too shabby, eh? 💸

Spark, the first of these stars, has grown to a whopping $10 billion in total value locked (TVL) on Ethereum, while Grove, the second unit, is all about collateralized loan obligations. Keel’s job? To act as the on-chain capital allocator, bridging Solana DeFi protocols and the stablecoin economy. It gets a dedicated balance sheet from USDS reserves to support Solana-native protocols and generate yield. Early pals include Kamino, Jupiter, and Raydium-quite the crowd, what? 🎩

“Keel was founded on the belief that the next phase of on-chain finance needs more than new assets alone; it needs liquidity that can be accessed at speed and scale,” piped up Cian Breathnach, CEO of Matariki Labs and a contributor to Keel. “Keel is the first to provide these enablers on Solana, delivering the capital and catalyzing force for the next stage of growth in on-chain lending, borrowing, tokenization, and whatnot.” Quite the mouthful, but I say, bravo! 👏

Keel’s grand plan might also lure more tokenized real-world assets (RWA) to the Solana space-bonds, commodities, stocks, and all that jazz. Lily Liu, president of the Solana Foundation, called it “a key step” in making Solana the go-to marketplace for internet-scale capital markets. And Rune Christensen, co-founder of Sky, reckons Keel will be the largest capital allocator on Solana, shaping the DeFi and RWA landscape like a boss. 🌍💼

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2025-09-30 06:48