⚡The latest report from Binance Research shows that the on-chain RWA market size has reached $31.4 billion, an increase of about 500% compared to early 2025.

But interestingly, the penetration rate of RWA into DeFi is still only about 10%.

In other words, the real opportunity lies in the middle layer:

Whoever can connect RWA yields, secure collateral, stablecoin liquidity, and user products may achieve the next round of DeFi valuation premium.

From this perspective, various protocols actually have their own positions:

Aave is large in scale, Morpho has high modular lending efficiency, and Pendle excels in yield splitting.

I believe Spark @sparkdotfi's advantage lies in having a complete funding pathway, making it suitable for creating an RWA yield distribution layer:

In addition to SLL deploying liquidity, Savings and SparkLend serve as entry points for yield productization, along with staking + buyback.

After the SPK unlock last week, the staking amount did not decrease, but instead increased from 551 million to 616.3 million;

Meanwhile, the Spark treasury continues to maintain a steady rhythm of buybacks, which is particularly important for the long-term sustainability that RWA values.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。