On Solana, RWA isn’t about who has the largest on-chain market cap—it’s about who’s actually being used. According to OnRe (2026-09-02) and DefiLlama: ONyc’s DeFi active TVL has surpassed $225M, accounting for nearly 45% of Solana’s total RWA DeFi active TVL (~$507M), making it #1 on-chain. ONyc’s market cap is approximately $279M, still behind BlackRock’s BUIDL. However, over 80% of ONyc’s market cap is deployed in DeFi (Kamino, Loopscale, Exponent, etc.). BUIDL proves institutional capital is moving on-chain; ONyc answers the next question: Once moved, does that capital become composable collateral? Reinsurance premiums + collateral yields, brought on-chain through a BMA-regulated structure—these yields are decoupled from crypto cycles, making them truly worthy of being called DeFi collateral. https://t.co/XnwF8v4fQ5 Source: https://t.co/tTdNhhxZ8p (Not financial advice; please verify transparency and risks yourself)
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