After the competitive landscape of PerpDex has taken shape, there's not much room left to keep competing on fees, leverage multiples, or token listing speed. Grvt has chosen to expand from a trading platform to a comprehensive asset platform. By partnering with Centrifuge, they’ve integrated treasury bonds into yield strategies. This allows users' margin funds on Grvt to serve as collateral while simultaneously generating passive income, improving capital efficiency. Centrifuge, founded in 2017 in Switzerland, specializes in tokenizing real-world assets (RWA) and has received strategic investment from Coinbase. To date, they’ve issued over $1.8 billion in assets.