Tokenization 1.0 brought prices on-chain. It did NOT bring markets onchain. Most RWAs today are wrappers: you get exposure, but not real liquidity, financing, or reliable liquidation. That’s why only yield-bearing RWAs found pmf - yield compensates for broken market structure. I’m bullish on @tenbinlabs because they’re building Tokenization 2.0: Instead of just wrapping assets, Tenbin imports market structure - deep liquidity, hedging, carry, and fast mint/redeem - using institutional derivatives rails (like CME) to anchor pricing and liquidity. That unlocks what actually makes assets useful: real trading depth, usable collateral, embedded carry, and predictable exits. If RWA is going to matter for DeFi, we don’t just need assets onchain - we need markets onchain. Tenbin is one of the first teams designing for that from day one. Respect the decent work @ballsyalchemist 🫡(Jiawei)