Featured News Headlines
Solana’s Keel Targets Tokenized Assets With $2.5B Plan
A new on-chain capital allocator called Keel officially launched on Tuesday, aiming to inject up to $2.5 billion into the Solana ecosystem, with a focus on decentralized finance (DeFi) and tokenized real-world asset (RWA) markets.
Part of the Sky Ecosystem’s Endgame Vision
Keel is one of the newest autonomous units, or “stars,” under the Sky ecosystem—formerly known as MakerDAO. Sky’s “Endgame” overhaul envisions a modular structure, where each unit governs itself while driving innovation in niche areas of decentralized finance.
Sky currently manages the decentralized stablecoins DAI and USDS, with a combined supply exceeding $7 billion. Keel follows Spark and Grove—two earlier stars launched by Sky. While Spark focuses on Ethereum and holds over $10 billion in total value locked (TVL), Grove specializes in collateralized loan obligations (CLOs).
Targeting Liquidity and Real Yield on Solana
Keel’s role is to act as a dedicated capital allocator on Solana, bridging the gap between DeFi protocols and the broader stablecoin economy. It receives funding from USDS reserves and aims to support protocols like Kamino, Jupiter, and Raydium, which serve as critical infrastructure for liquidity routing, lending markets, and automated market-making on Solana.
“Keel was founded on the belief that the next phase of on-chain finance growth needs more than new assets alone; it needs liquidity that can be accessed at speed and scale,”
said Cian Breathnach, CEO of Matariki Labs and contributor to Keel.
Driving Tokenized Asset Growth on Solana
By allocating significant liquidity on-chain, Keel could accelerate the adoption of tokenized real-world assets (RWAs)on Solana—an area attracting growing institutional interest. These assets aim to move traditional instruments like bonds and stocks onto blockchain rails.
Lily Liu, President of the Solana Foundation, described Keel as
“a key step in positioning the blockchain as a leading marketplace for internet-scale capital markets.”
Rune Christensen, Sky’s co-founder, added that
“Keel is set to become the largest capital allocator on Solana and will play a key role in shaping the DeFi and RWA landscape.”
