Solana Foundation Chairman: Funds, Assets, and Ownership Are Entering the "Token Supercycle"

Solana Foundation Chair Lily Liu published an article stating that funds, assets, and ownership are migrating to all-weather internet infrastructure, giving rise to a long-term "token super cycle". Tokenization is not merely moving assets onto the blockchain—it transforms the assets themselves, enabling value to be issued, held, financed, and traded in a non-stop market. She noted that stablecoins have already proven funds can flow globally on-chain; financial institutions are driving asset tokenization; blockchain infrastructure is now meeting the speed and cost requirements of real economic activities; and AI economic agents need programmable currency. As these factors converge, any value with clear ownership could be tokenized, gaining broader distribution, financing, and trading channels. Over the past year, Solana-based Real World Asset (RWA) trading volume reached hundreds of billions of U.S. dollars, covering tokenized U.S. Treasuries, stocks, and private credit; during the same period, stablecoin transfers exceeded $4.7 trillion. Liu added that tokenization also allows more investors to break through geographic, minimum investment, and eligibility restrictions, while enabling held assets to be used as collateral or generate yields. Although the current on-chain market size is still far smaller than traditional markets, related infrastructure could reach 5.5 billion global internet users in the future.