PayFi and RWA in my eyes I am fortunate to be able to chat with @ calilytiu and @ DrPayFi today about PayFi, which has led to stablecoins and RWA. The most direct explanation for PayFi is' Buy now but pay never ', which means to buy now but never pay. Essentially, it is using future earnings to pay for current consumption. In the simplest example, it is equivalent to a "credit card that does not require repayment". Of course, not requiring repayment is a false proposition in the outcome, but it does exist in practical logic. For example, in the past, when we used credit cards, we used to consume based on the "credit" mechanism, and credit needs to be repaid on the next settlement date. Therefore, during the window period, we can use funds to earn interest, reducing the accumulation of funds. But in the PayFi field, it can be reversed. Payable credit is based on additional income, such as the payment system launched by @ OKXWallet_CN, where depositing 10000 USDT or USDC can give an annualized income of 5%, which is $500 per year, equivalent to $41.1 per month. So the "no payment" limit provided by OKX Wallet can be $41.1 per month, which means that all purchases within $41.1 are covered by the return on the principal, thus realizing the concept of Buy Now but Pay Never. So I believe that in the future, payments will definitely be combined with more pledged or interest bearing projects, including U-cards. Payment is just a process of currency conversion, but "interest bearing" or "income" is the difference in equity between different "credit cards". The next payment track should be in the revenue stream. RWA or RWAFi may be the best way to provide returns. If the payment channel cooperates with on chain securities firms, the deposited stablecoins can directly buy short-term TBills, and the expected return of TBills is the "no payment limit" of the depositor. I believe this track will definitely run out of unicorns, and there is a high probability that it can run out of listed companies, and even mortgage lending can be achieved in the same way. The future PayFi should not be alone, nor a channel for currency conversion, but a credit channel for current income, and the mechanism of on chain credit may start to open from here. The future of RWA is definitely to help Web2 and Web3 users provide higher revenue, safer revenue, and more convenient payment methods. When we were in DeFi, we often said that when you don't know the source of income, you are the source of income, and the most stable source of income is AA+or AAA grade treasury bond or corporate bonds. Especially when the currency is tight, it is the best opportunity for RWA development. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex