Major infrastructure play gearing up for mainnet launch in Q1 2026. BlackRock, HSBC, Visa, and State Street have already put this through its paces on the public testnet—serious institutional backing. Here's what's catching attention: the platform will launch with $73.7b in USDC circulation, which converts to native gas token mechanics. That's a substantial liquidity layer baked in from day one. SEC filings reveal the team is exploring a governance token structure, signaling a path toward decentralized decision-making. On the business side, they posted $740m in Q3 revenue, demonstrating real traction and operational maturity. This sits squarely in the infrastructure token category, positioning it as a backbone play rather than just another L1 experiment. The combination of institutional validation, solid financials, and token economics deserves closer attention.