One of the reasons I left TradFi for crypto was the belief that everyone should have access to institutional-grade products, not just a select few. Today’s announcement that Flow Traders (Euronext: FLOW) is now using Cap via EigenLayer marks a major breakthrough for institutional liquidity onchain. We finally have onchain credit facilities where covenants, risk isolation, and loss protection are enforced programmatically through slashing and redistribution — no intermediaries, no opacity. Transparent, auditable, and incentive-aligned. This is how institutional credit moves onchain.