Kaia might need a closed loop to tie its narratives together. Right now, it has three main storylines: 1. Social app entry point, since it’s backed by parent companies Line and Kakao. 2. The Asian stablecoin market, which is currently dominated by native USDT. Progress on the Japanese yen stablecoin is a bit faster, and the Korean won is also starting to move forward. (The previous pump was due to news about the Korean won stablecoin.) 3. Various on-chain RWAs, like the government bonds mentioned in this article (in collaboration with OpenEden), shipping, and SMEs. Storylines 1 and 2 are somewhat connected, but storyline 3 needs a better position to integrate into the loop and make it a closed system.