To be honest, many people have not had the opportunity to make money this round, but have been waiting for the knockoff season. The logic of the previous round was simple - holding a potentially skyrocketing altcoin and waiting for a wave of emotions to arise, it could easily multiply by tens or hundreds of times. Wait, it makes sense. But this round is a bit awkward. The narrative is getting shorter and the fluctuations are getting faster, but the knockoff season has never come. ✅ What if the knockoff season really doesn't come? The market began to look for structure in other directions. For example, in this round, more and more people are doing stablecoin returns supported by RWA. RAAC @ Raacfi is a typical example. They used $100 million of tokenized gold as collateral, issued a gold backed stablecoin pmUSD, and then threw it into Curve for liquidity. Now pmUSD has over 20 million US dollars in Curve's LP, Annualized approximately 12% -30%. ✅ TGE in the first half of the year Ordinary users can earn pmUSD on the platform, in addition to earning profits, they can also earn RAAC Points, which will be exchanged for tokens during TGE in the first half of 2026. In the next issue, we will write a tutorial. To put it simply: While obtaining stable returns, While accumulating chips for future coin issuance. From over 20 million TVLs, it can be seen that before the knockoff season, some money had already started searching for cash flow.