Tokenizing Assets on-chain with Wormhole NTT by Nikhil Suri

hey everyone I'm Siri I lead product at the Wormhole foundation and I'm here to talk to you today about Wormhole native token transfers and the suite of products that we've been building to help take asset issuers on chain so this is a quick lightning talk it's only seven minutes so to keep things really high level and start from the basics um I want to just start with who are the users that we talk to and what the problems that they face so let's start with the users the users that we talked to are asset issuers and over the last year it's been really exciting to talk to a lot of Institutions and companies that are issuing tokenized assets on chain these could be stable coins tokenized funds or other kinds of rwas you all in this room are aware um and this is really exciting um but face several different problems um one big problem in particular that they face is that there are a lot of different blockchains um there's ethereum salana bass arbitrum optimism move ecosystem Su apos like as we all know there are lots of different blockchains more have launched recently more are launching soon monad bar chain these are all exciting communities and exciting areas of liquidity hubs that asset assurers want to tap into that they have to think about how do we actually get to all these different chains in a way that makes sense that maintains fungibility that gives us customizability over you know what the Frameworks that we're using um and so all of these different blockchains are fragmented um but they're all valuable to go to you know just just looking at the TBL of ethereum the value of ethereum's defi e ecosystem is around $60 billion the value of Solana's defi ecosystem just coming off of tvl as well is around s billion dollar and so think of what the M1 money supply is today it's trillions of dollars and so we expect that as the space continues to grow the value of these different defi ecosystems is also going to continue to grow and there's nothing that indicates that they they will all be unified and not fragmented in the future so if you're in issuing an asset you want to be able to tap into all of these ecosystems really seamlessly and you want to have maximal distribution for your asset so this is where Wormhole comes in and what we're building with Wormhole native token transfers and the product Suite that we have so Wormhole allows you to scale to the entire crypto ecosystem and how do we do that uh Wormhole connects blockchains so we support over 40 chains you can see some of the chains that we support here um and we are also War Wormhole is also the most battle tested interop protocol um Wormhole has processed over 1 billion messages Wormhole has facilitated over 57 billion doar in value transferred and there are over 200 applications that are built on top of Wormhole today and in addition to this we've built this comprehensive product Suite to enable making assets natively multi-chain and we've partnered with a lot of industry-leading teams on this we've partnered with securitized to be their official interoperability partner for tokenized assets so this includes black Rock's Biddle fund it includes Apollo's aced fund with more on the way and that does mean that black Rock's Biddle fund is today natively on multi-chain natively on multiple chains using Wormhole messaging um and we've also partnered with lead leading stable coin protocols so m0 Agora uh transfera Sky formally maker are all protocols that we've partnered with with with again more St coin protocols on the way so what what have we built um it starts with Wormhole native token transfers um NTT native token transfers is a flexible framework it allows you to make your asset multi-chain um you have ownership over it there are defense in depth security features and you have a lot of customizability over it um and NTT secures almost $25 billion dollar in value today NTT has defense in depth security features uh such as rate limiting and Global accounting these are totally optional to use some people decide to use them some people decide to completely disable them this goes back to our focus on building a customizable token transfer framework that you as the asset issuer really have a lot of control over and can enable or disable features at Will based on what you need and then also has a flexible verification feature which I like to talk about since it's something that's very exciting for teams to hear it sort of relaxes their legal and compliance departments when they hear that in addition to Wormhole verification for cross chain asset transfers they can add on a custom verifier um and their custom verifier can enforce custom checks like wh list or Blacklist checks um or um can just make sure that they are signing off on every single cross-chain transfer that's happening um and this again can be very customizable to the needs that you have um and you can ensure that you're in like a two out of two setup or a two out of M ofn setup among verifiers that you configure so that you have those additional layers of security in addition to Wormhole verification and around NTT and the Wormhole ecosystem is a is a host of products so Wormhole verification underpins the Wormhole protocol it's wormhole verification provides one of the most secure cross chain verification systems for op that's operating at scale today um security is one of worm hole's core compet competencies and it's the reason why several institutions have partnered with us uh to take their assets on chain um Wormhole settlement is exciting it's something we announced today it's a suite of intense products that allow you to make faster than finality transfers across chains and there are different models that allow you to go really fast but less Capital efficient and a little slower but much more Capital efficient so wormal settlement is a suite of products that allows you to make really fast transfers um Wormhole connect is a reusable UI widget that you can pull into your site automatically has support for NT and other warm Wormhole settlement out of the box it's built on top of the Wormhole SDK which you can use to build your own UI and then for a powerful like token administrator and developer experience we have command line tools and deployment uis um that allow you to deploy really fast and manage your deployment really easily so to summarize the quick lightning talk we work with a lot of asset issuers um the problem that asset issuers face is that when coming on chain is that there are lots of different chains and they need to figure out how they're going to scale to the entire crypto ecosystem to solve that problem we built Wormhole native token transfers and a strong supporting product Suite and the benefits of that solution are that it's customizable you have helpful tooling and you have support across the major blockchain ecosystems so that's all I have thank you for attending um excited to work with many of you and if any of this interested you reach out thank you very much