I have led two projects at RWA this year, one is Brickken and the other is Plume. For the former, I brought over 1000 people to their Chinese group, while for the latter, we were deeply involved in accompanying construction. Based on the clear intention of NYSE to conduct tokenized securities and on chain settlement: The next stage of RWA is not about whether there is any profit, but whether it can be deployed, combined, and amplified. This blogger is very realistic: 8-10% of private equity credit returns are enough for savings oriented users, but for CT's degrees, they are indeed not enough for electrification. And there are no low-risk, mid tier, or instant liquidity fantasy assets. So the problem is not with the profits themselves, but with DeFi compositibility as mentioned by @ luminance network. When real assets can be traded 24/7, settled instantly, and circulated on chain as envisioned by NYSE, coupled with collateral, revolving, and structured leverage, RWA truly transforms from TradFi assets to onchain capital. That's also why I think Plume's direction is right: not to sell 8-10%, but to give RWA a move, compose, deploy capital at scale on the chain market. ✅ One sentence: NYSE is raising the upper limit of RWA, Plume is truly turning this into DeFi.