Dialectic launches SpaceX tokenized stock yield vault on Base

Dialectic has launched Starloop, a yield-bearing vault for tokenized SpaceX equity, on the Base chain, open to eligible non-U.S. investors. The vault, built on Makina infrastructure and using Aave's lending market, lets depositors pledge tokenized SpaceX shares as collateral to borrow USDC, then deploys that capital into approved on-chain yield opportunities, passing net returns to depositors after borrowing costs. The structure matters because it turns a private, illiquid equity holding into a productive on-chain asset, though it carries collateral liquidation risk and the possibility that borrowing costs exceed yields. What to watch next is whether the strategy attracts meaningful deposits and whether net spreads stay positive as Aave borrowing rates and on-chain yields move.