One Yield

BREAKING: Tether purchased +6 tonnes of gold in Q1 2026, bringing total holdings to a record 132 tonnes, now worth ~$19.8 billion. This follows +21 and +26 tonnes acquired in Q4 and Q3 2025. Tether’s gold holdings have more than DOUBLED in just 12 months and nearly TRIPLED in value over the same period. In 2025, the crypto firm acquired more gold than every central bank except Poland. In Q1 2026, the only central banks that bought more gold were Poland, Uzbekistan, Kazakhstan, and China. Tether is competing with central banks for gold.

RWA Market Roundup The tokenized real-world asset market is showing strong signs across both distributed and represented categories. Total distributed asset value sits at $30.91B, up 5.75% over the past 30 days, while represented asset value has surged to $437.19B, a remarkable +204.62% over the same period, though that figure is heavily skewed by Canton Network's dominant position. On the represented side, Canton leads by a country mile with $412.2B across 1,436 assets, dwarfing every other network. Provenance holds second with $17.1B, followed by XRP Ledger ($2.5B) and ZKsync Era ($2.2B). Polygon and Stellar also feature, reflecting broad institutional adoption of blockchain as a recordkeeping layer even without full on-chain investor transfers. On the distributed side, Ethereum firmly on top at $16.6B across 637 assets. BNB Chain comes in second at $3.8B, followed by Solana ($2.0B) and Stellar ($1.6B). Notably, ZKsync Era has just one distributed asset but $963.6M in value, with a staggering 30-day gain of 359.6%. Total stablecoin value stands at $299.38B held by over 246 million wallets, underscoring just how foundational dollar-pegged assets remain to the broader onchain economy. Asset holders across all RWA categories number 740,493, up 3.37% MOM, suggesting steady but measured growth in retail and institutional participation.

Introducing Pre-IPO Perpetuals (IPOP). The weeks before an IPO are some of the most consequential in a company’s price history, and historically, the least observable. Private market quotes are stale and gated and Public markets haven’t started trading yet. Peak interest coincides with an absence of prices. We’re introducing IPOP markets on XYZ to change that.

If you’re choosing strategies based on APY alone, you’re missing the most important aspects of DeFi. Today, Sentora is launching Smart Yield to address exactly that. 🧵

Securitize and Computershare announced an agreement to support U.S. listed clients in issuing equity securities in tokenized form, enabling a new pathway for issuers to bring their shares onchain.