OBEX: Sky's Accelerator for Real-World Yield

Nick Carpinito argues OBEX, Sky's $2.5B stablecoin accelerator administered by Framework Ventures, deploys USDS into 8 real-world yield projects across mortgages, energy, and AI infrastructure—generating $24.1M in annualized stability fees at current $611M draw, scaling to $98.8M at full deployment and approaching Grove's income contribution. The inaugural cohort anchors on institutional players: Securitize ($1.25B IPO-pending), Maple ($3.95B TVL), Better Mortgage ($110B lifetime originations), positioning USDS as the funding currency for mortgage originators, data centers, and distributed energy—asset classes collectively larger than anything DeFi has underwritten.