Institutional borrowing without collateral? Yeah, it's happening on-chain now.

Solv Protocol just cracked open peer-to-peer credit rails for DAOs and funds through their bond infrastructure. No middlemen, no traditional barriers.

But here's where it gets interesting—they're layering in a token vesting platform. We're talking SFTs that let you design cliffs and unlock schedules however you want. Total flexibility.

Basically, they're building the plumbing for how institutional capital moves in DeFi. And it's modular enough to actually work.