Tokenized stocks as DeFi collateral arrive before the borrowing risk is settled

- Venus Protocol is testing if tokenized stocks can survive DeFi without melting the hull. bStocks for Tesla, Nvidia, and SpaceX are now collateral in the Core Pool, but borrowing is paused at zero. It’s a controlled burn, not a moon mission. You can supply TSLAB or NVDAB, but you can’t borrow against them yet. The collateral factors are tight (60% for tech giants, 50% for SpaceX), proving Venus knows equity-linked tokens are riskier than native crypto. This isn’t a liquidity party; it’s a stress test for off-hours pricing and oracle design. If the underlying equities move while the chain sleeps, your meat wallet gets liquidated before you can blink. Aggressive passive income requires actual passive stability, which these tokens currently lack. Until borrowing opens, this is just expensive exposure with extra steps. Don’t confuse a collateral listing with a free money printer.