Private credit is finally getting the onchain treatment it deserves and @KAIO_xyz putting Hamilton Lane’s SCOPE within reach is the tell. It’s senior private credit, curated for yield, but now issued under rule-gated rails and ready to be used not just held. Quick receipts so this isn’t hand-wavy: ❯ Access on Sei: Hamilton Lane confirmed SCOPE access via KAIO on Oct 15, 2025 evergreen vehicle, monthly liquidity, immediate deployment. That’s the right shape for treasurers who want steady carry without operational drag. ❯ DeFi utility: When Aave Labs launched Horizon, it opened the door for qualified desks to borrow stables against RWAs. That’s the missing link between “tokenized private credit” and actual leverage/liquidity workflows. What this unlocks in practice: ❯ Subscribe under KAIO’s compliance rail, receive tokenized exposure to SCOPE, then point that position at venues that recognize institutional RWAs. ❯ Keep ops simple: one supply that can route where liquidity lives, plus redemption that mirrors fund admin lifecycle (no mystery wrappers). Claim check: “curated yield, onchain, collateral-ready” only matters if the rails line up across issuance, compliance, and venues. Between the SCOPE rollout and Horizon’s collateral path, the pieces are in place the next test is borrow caps/utilization and how fast other desks follow. If you’re exploring this, start with the Sei announcement for scope/liquidity terms, then map Horizon’s parameters to your risk book