Recently, everyone's focus may be on the mainnet of Base and ETH, overlooking that the Solana ecosystem, also a major chain, has some good ecosystem news as well.

Other chains are centered around innovation in Web3 itself, but the news from Solana is personally something I think can be considered a model of breaking the circle effect.
Yes, I am talking about Bullish (listed code BLSH), which is listed on the New York Stock Exchange, as an institutional allocator pouring into @solsticefi.
To briefly extend on the background of this company: Bullish's founder is a former chairman of the New York Stock Exchange, with a market value of 5 billion USD.
And it has brought me three points of reflection:
1. This cooperation can be seen as a demonstration to the traditional financial industry: as long as the project is compliant and the underlying yields are clear and transparent, listed companies can consider on-chain interest-bearing assets as an asset allocation path, which could attract a lot of traditional capital.
2. Aside from endorsements, there is also a product logic that has been validated, which was a blank market on the Solana chain before:
Users can directly hold USD assets on the Solana chain, earn corresponding yields, and apply assets and yields to any DeFi scenario.
3. I just checked, and unlike many projects where TVL plummets after TGE, Solstice's TVL has actually increased counter to the trend, reaching 500 million USD.
Data obtained through airdrops before TGE are not indicative, but data after TGE is the best proof of product strength.
➡ Currently, what the industry lacks is enough breaking-the-circle effect and long-term project value realization after TGE. This wave of Solstice leading Solana has set an example for other chains and ecosystems. Continuing to observe its long-term data changes 👀.