THE THESIS FOR SPOT EQUITIES ONCHAIN

Summary from the TLDR Crypto newsletter

Onchain spot equities will follow the same path as stablecoins. Once dollars increasingly live onchain, it becomes natural for users to buy and hold other assets (like equities) on the same rails. This is because onchain will become the default home for folks' portfolios. The real unlock isn't convenience (24/7 and faster settlement) but new utility, especially permissionless securities lending (more yield passed to holders) and borrowing against equities without the typical brokerage gatekeeping.