🔥 AUM rankings are becoming obsolete. What really determines the status of tokenized funds has shifted to "on-chain integration level."

#CoinFound's latest deep dive report highlights:
1️⃣ The growth of leading tokenized funds isn't driven by widespread buying from traditional investors, but rather by stablecoins, CEX, and deep absorption within DeFi systems.

2️⃣ Products like USYC, BUIDL, and JAAA are becoming:
• Stablecoin reserves
• Protocol treasuries
• DeFi collateral
• On-chain yield modules

3️⃣ Tokenized funds are evolving from "on-chain fund shares" to "on-chain financial components."

4️⃣ The next phase's core metrics are no longer just AUM, but:
• Protocol integration breadth
• Protocol utilization ratio
• Cross-protocol composability
• Cross-chain accessibility

📖 "Penetrating Tokenized Funds: The Obsolescence of AUM and a New Framework for On-Chain Integration" https://bit.ly/4uXQ4c8