This is probably one of the most important upgrades we’ve had with LONG. And one of the purest forms of the “liquidity moat” I keep mentioning. Very simple breakdown: Stock pairs on LONG hold 10–40% of the entire stock circulating supply and are the main reason some stocks on RH are liquid. They can accumulate substantial liquidity and market fees in their vaults ($1m+ now). They can now allocate these fees to LP positions in STOCK/USDG pools with no IL(impairment lose is huge problem I will break down later and explain how stock pair flows can solve) This enables stock pairs to capture the entire routing layer around their stock, including the activity they drive themselves. Accrue more LP fees back to the vault. And own an even bigger share of the liquidity and upside from growth in RWA TVL and activity. I’d take this a step further. I strongly believe that, with multiple iterations, this can be an endgame for tokenized stock LP. I’d even argue that this is an ideal way for capital allocators to incentivize stock pairs, add liquidity to STOCK/USDG pools, and align with the biggest stock pairs by routing a portion of LP fees back to them. working to roll this out to more pairs as we speak. It’s permissionless, but requires some manual configuration we can’t automate. LONG.

SEC APPROVES TEMPORARY, CONDITIONAL EXEMPTION TO ALLOW LIMITED TRADING OF TOKENIZED STOCKS ONCHAIN: SEC