Keel, a new Solana-native Capital Allocator, debuted on Tuesday with a roadmap to channel up to $ 2.5 billion across decentralized funding (DEFI) and tokenized asset markets in ecosystem.
Keel is structured as part of Sky Ecosystem, the long-term defi protocol previously known as Makerdao, as one of its autonomous units called “stars.” It is part of Sky’s largest revision called Endgame, which includes creating smaller units, each responsible for its own governance and innovation at the edge of the ecosystem. Sky is centered around issuing USDS (USD) and Decentralized stableecoins, which have a total supply of over $ 7 billion.
Spark, the first of Sky’s stars, has grown to more than $ 10 billion in the total value locked (tvl) in Ethereum, allocating funds for over $ 1 billion in tokenized assets. Grove, the other unit launched earlier this year, is focused on security obligations.
Keel’s mandate acts as a capital allocator that sits between Solana Defi protocols and the wider stablecoin economy. It receives a dedicated balance from the USDS StableCOin reserves to implement and support Solana-native protocols to generate yield. Early integrations include Kamino, Jupiter and Raydium, Solana host marketplaces, where liquidity can serve as a foundation for lending markets, routing and liquidity pools.
“Keel was founded on the belief that the next phase of growth in financing the chain funding needs more than new assets alone; it needs liquidity available in speed and scale,” said Cian Loannach, CEO of Matariki Labs and a contributor to Keel. “Keel is the first to deliver these activates at Solana, supply capital and catalyzing power for the next growth phase in on-chain loans, borrowing, tokenization and more.”
Keels Plan could also help attract more tokenized assets in the real world (RWA) to the Solana space, a fast-growing sector aiming to use blockchain rails to move and run traditional financial assets such as bonds, raw materials and shares.
Lily Liu, President of the Solana Foundation, called Keel “a central step” in the location of blockchain as a leading market for internet-scale capital markets. Rune Christensen, co-founder of Sky, added that Keel is set to become the largest capital allocator at Solana and will play a key role in the design of the Defi and RWA landscape.
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