The real endgame: Assets issued natively onchain, not wrapped from TradFi. RWAs & tokenization are just the first step. As @samkazemian wrote - "settlement guarantees" only make sense for assets *without* issuers, like BTC or ETH. But for RWAs, the guarantee depends on the issuer. Example: BUIDL on Ethereum is just a subset of BlackRock's liabilities. If Ethereum goes down, BlackRock decides what happens next, because the real record sits offchain, in TradFi. But when assets are **natively issued on-chain**, the game changes: - Issuers like BlackRock are now exposed to network risk. - They’re incentivized to hold & stake ETH, SOL, etc. - They need the chain to stay online and censorship-resistant. Republic’s tokenization is just the first example of this future.