The closed-loop of wealth management across the entire chain has taken a substantial step forward. Recently, I saw that Grvt directly connected the Earn product to the JTRSY (American Bond Fund) on Centrifuge. To put it simply, if you put idle margin in Grvt, it will automatically earn the yield of institutional U.S. treasury bond bonds. At the same time, this money is still 100% available for trading - no bridge, no chain switching, no re custody, full capital efficiency, and no sacrifice of liquidity. This sounds simple, but its significance is not insignificant. The problem with DeFi in the past was fragmentation: trading was trading, earn was earn, RWA was RWA, and everyone went their own way. Funds jump back and forth between different agreements, including gas fees, bridge risks, timing mismatches, and a bunch of frictional costs. Grvt's integration this time directly integrates trading, stable returns, and RWA collateral into a self managed unified balance pool. This forms the core of the closed-loop wealth management system across the entire chain: unified funding. Here, it should be noted that Centrifuge is a company founded in Switzerland in 2017, specializing in asset tokenization RWA. It has received strategic investment from Coinbase and has issued over $1.8 billion in assets. For Grvt, this is a crucial leap in the transition from pure Perp DEX to an 'on chain wealth platform'. Users who keep more funds on the platform for a long time, both trading and earning, will increase stickiness and TVL. If more Centrifuge RWA (credit, invoice financing, real assets, etc.) are further integrated in the future, the entire loop will become increasingly solid. More broadly speaking, this is also an important signal for the RWA track to move from "pure tokenization" to "deep composability". Previously, tokenized Treasury was mostly played by institutions or DAOs, but now it is directly embedded in retail transaction scenarios, proving that RWA can truly become a daily source of yield. If more protocols are followed up in the future to truly closed-loop earn, trade, lending, and RWA, we may truly see the evolution of on chain finance from a "speculative paradise" to a "mature wealth infrastructure". In my personal opinion, this is one of the most enduring narratives to keep track of in the second half of RWA+DeFi.