[Can RWA, which Binance and Goldman Sachs are planning, become the next growth engine of DeFi? 】 Recently, Binance Research Institute released RWA-related research papers, grafting the bridge between TradFi and DeFi. Lao Wu thinks that the narrative of RWA is particularly noteworthy for the virtual asset market, especially the impact on DeFi Thread includes: 1 What is RWA 2 The potential impact of RWA on DeFi 3 Development and challenges of RWA 4 5 types of tokens for the recommended layout of the RWA track

1. What is RWA? Simply put, it is to tokenize the value of real-world assets, map the value to the chain and trade For example, BTM, which was the first to focus on "asset chaining", is doing RWA. RWA can be tangible or intangible assets, such as real estate, bonds, stocks, currencies, and even cars and cotton. Currently, the most successful RWA in the currency circle are USDT and USDC, that is, mapping the US dollar to the chain and tokenizing it

2. Potential impact of RWA on DeFi The core impact is to connect traditional finance and crypto finance and increase externalities. Currently, DeFi is a relatively closed system, and the income comes from endogenous systems, such as DEX fees, lending fees, and chain pledge inflation income, etc. This is more like an idle closed financial system. 1) Breaking geographical restrictions, global asset circulation...

3. Ecology and development of RWA RWA is not a new concept. The USDT and USDC we commonly use are RWA. It is not native, but a mapping projection of the real US dollar on the chain. Therefore, RWA is not a newborn in the crypto, but has been verified for a long time. In addition to stablecoins, the most popular asset types for RWA are US Treasury bonds, real estate, carbon credits, and stocks. …

4. The biggest constraint on the development of RWA - compliance and ideological confrontation Let's go back to stablecoins first. What is the biggest criticism of USDT? On the surface, it is centralized, but the core is the opacity of assets brought about by centralization. Everyone doubts whether 1USDT is backed by the value of 1 dollar. The subsequent compliant stablecoin USDC appeared, which was endorsed by the authorities or a powerful centralized entity to ensure security. …

5. Tokens related to the RWA track U.S. debt concept: MakerDAO (MKR), Ondo Finance, Maple Finance (MPL) Real estate concept: RealT Carbon credit concept: Toucan, Flowcarbon, Regen Network RWA vertical public chain: Polymesh (POLYX)