Heads down all month. Here's what came out of it.

We’ve been heads down. July was busy in a way that does not always make noise.

Here is where things landed. About six times as many active wallets as the month before, and people actually used them. Every order that came through got filled. Deposits went to work across 20 yield venues, with more sitting onchain than we leaned on this month. Sixteen times the transactions of June, with volume more than tripled. Tesla was the most traded of the tokenized stocks, and trading and yield are both free right now for a limited time. And the number I keep coming back to: about 42% of the people who traded came back and traded again.

There is a short recap here if you want to see it.

The reason for the note is the part we left out of the video. We have been building toward something for a while, and it goes live soon. We are not going to spoil it here. If you have been reading these, you will be among the first to know when it lands.

Stay tuned.