The token supercycle: everything of value is becoming programmable
The article discusses the 'Token Supercycle,' a long-term shift where assets and ownership are migrated onto internet infrastructure through tokenization. It argues that this transformation will create a global, always-on capital market by removing geographical and institutional barriers.
Why it matters
It provides a theoretical framework for the future of global finance and the potential impact of blockchain technology on asset liquidity.
Markets went electronic. Money went digital. Finance moved onto the internet. Each of those shifts changed how we trade, pay and invest without changing what an asset is. This one changes the asset.
The Token Supercycle is the long-term migration of money, assets and ownership onto always-on internet infrastructure. Read it merely as a market rally, and you will miss the larger transformation.
The internet capital market it produces will become the largest capital market.
Lily Liu is the president of Solana Foundation.
In the early 2000s, China industrialized fast enough to push commodities into a multi-year structural boom. Economists called it a supercycle: a long-duration shift in supply, demand and capital allocation that outlasts ordinary business cycles. The US had one in the late 1800s; Europe and Japan in post-war reconstruction.
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