Morning Edition · Tuesday, August 18, 2026Published at 1:51 AM EDT · New York
The protocol that helped invent on-chain lending is rebuilding around institutions and tokenized real-world assets after retail deposits fell far from their peak.

Compound governance has approved a milestone-based program worth $52 million and installed a new leadership team to build institutional lending products and services around real-world assets, meaning off-chain instruments represented as tok…
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Part of a tracked trend
On-Chain Capital Concentrates
As total on-chain capital contracts, value keeps concentrating on the largest chains and the applications with live demand, squeezing long-tail protocols and forcing consolidation.
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