Real-world asset infrastructure for global markets

Joined May 2024
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1/ thUSD is live. Here's everything you need to know.
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How does thUSD generate competitive onchain returns without taking on competitive levels of risk? The full breakdown is worth your time. ↓
thUSD turns gold market carry into a dollar-denominated yield: physical gold leased into real commercial demand, hedged on CME, with Treasury collateral underneath. We wrote the full breakdown. It goes deep on the strategy, partners, venues and risk controls. Read the full piece below.
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US inflation hit a 3-year high in May, with CPI up 4.2%, yet Bitcoin and ETH turned higher anyway. Theo CIO @iggyioppe told @decryptmedia why this print isn't the clean catalyst Bitcoin bulls wanted. Read the full article below.
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CME took crypto futures to 24/7, closing the legendary weekend gap that traders watched since 2017. Theo CIO Iggy Ioppe sat down with @AlphaWireHQ to explain why longer hours fix one narrow problem, and why the rails underneath still hold institutional markets back. Read the full article below.
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Our CIO @iggyioppe sat down with @kaisakaisa_ and @alenka_on_x to talk about what actually works when you're building onchain: distribution, market structure, and where the real opportunities are. Watch the full conversation below ↓
When does an RWA protocol become a business? @Theo_Network’s answer is tokenization 3.0 by making assets usable onchain. thBILL, yield-bearing gold, stablecoin backed by gold carry. 220M in total TVL @alenka_on_x and I dive into it on a new episode with @iggyioppe
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thUSD turns gold market carry into a dollar-denominated yield: physical gold leased into real commercial demand, hedged on CME, with Treasury collateral underneath. We wrote the full breakdown. It goes deep on the strategy, partners, venues and risk controls. Read the full piece below.
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Market depth matters. CME gold futures currently represent roughly ~$150B of open interest, showing the scale of institutional demand that still lives on traditional rails. Theo is building the infrastructure to connect that capital to onchain markets.
to give you a sense of how much room thUSD has to grow, there's ~$150B of open interest sitting in cme gold futures right now (~328.6k contracts @ ~$4,500/oz) thUSD could run a full $1B and still be <1% of the book
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