🧐 Paimon @Paimon_Finance has reached a TVL of 10 million USD｜and is currently participating in the SpaceX IPO:

Paimon is one of the very low-profile projects under the investment of YZiLabs, so low-profile that it feels slightly transparent. A 10 million TVL seems rather low, but in fact, projects that continue to build quietly during a bear market deserve more attention.

I recently became interested mainly because they are participating in the current hottest IPO in the US stock market, SpaceX.

Paimon has an IPO quota of 200,000, but SpaceX is valued at 1.7 trillion, which honestly is a terrifying figure. Paimon has four levels, with a minimum discount of 60%, the more points you have, the greater the discount.

No matter how big it is, I suggest everyone pay attention!

First, let me explain @Paimon_Finance:

On one end, it has a stable underlying asset similar to Paimon Prime: the official focus is on institutional-level private credit, targeting a return of about 7%, with daily liquidity, not relying on token inflation to artificially inflate APY; most of the TVL funds are generating returns here;

On the other end, it has exposure to Pre-IPO assets: names like SpaceX, Anthropic, and OpenAI, essentially bringing opportunities that used to be exclusive to high-net-worth individuals and family offices onto the blockchain for accessibility.

This is similar to having cash flow from the underlying assets, while speculating for high growth with satellite assets, with minimal disruption in between. What Paimon wants to convey is that this setup can be understood as an attempt to create a prototype of a "blockchain private bank."

Because RWA (Real World Assets) has been discussed for a year and a half, but the real competition in the future won’t just be about moving assets onto the chain, but about who can manage the most troublesome aspects simultaneously: asset sources, legal structures, audits, liquidity, and compliance boundaries.

Polymarket is more like a blockchain casino, while what Paimon aims to do is a blockchain private bank. Currently, at least in terms of direction, I think it is significantly more advanced than merely recreating a narrative token.

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