Many people have been talking about RWA, Blackstone Franklin Templeton、Janus Henderson。 Traditional financial giants are starting to move their assets onto the blockchain But I think many people misunderstand. They think the meaning of RWA is to put US bonds on the chain, funds on the chain, and stocks on the chain Actually, it's not very meaningful if we just change the format of assets, because money is still sleeping For example, you bought tokenized US Treasury bonds And then? Take it and wait for the returns to end. Although your assets have been put on the chain, they are still an isolated island that cannot be used as margin, cannot improve fund efficiency, and cannot participate in other financial activities at the same time. Simply put, it's just moving the bank deposit certificate to the blockchain So for this collaboration between GRVT and Centrifuge, my focus is not on launching another RWA product, but on the direction behind it GRVT is clearly no longer satisfied with being a Perp DEX, they want to be a wealth layer on the chain The problem GRVT wants to solve is actually very simple: why can't there be only one balance? A balance simultaneously drives trading, returns, and margin RWA、 Capital growth I think what GRVT is doing now is very interesting. They are not adding a few assets, but trying to build a new layer of infrastructure to make the wealth on the chain truly flow Because the most valuable thing in the future may not be transactions or profits, but rather keeping the same amount of money never idle, which is the true capital efficiency. This is also the ultimate direction that blockchain finance will go towards