I’ve always believed that for this new wave of DeFi protocols to establish themselves, they need to meet two conditions: 1. The narrative and technical solutions must be closely aligned with, or even based on, tokenized stocks. Only then can they coexist with the old DeFi protocols. 2. The protocol’s data scale and growth must undergo long-term testing and market validation to prove it’s not just a narrative-driven cash grab, but actually addressing a real market demand. Alright, based on these two points, I’ve re-ranked the current hot DeFi projects in the RH chain ecosystem: Longbow > Fables (Prologue) > Pare > Shroom > Delta > Ramses > up > TWO 1) Betting on certainty: Fables is the top choice, but keep in mind it’s a 40:1 token swap for PROLOGUE. Prioritize grabbing the airdrop—it’s not as cost-effective for investment anymore. 2) Betting on stability and growth potential: Longbow is worth a closer look. It aligns with the tokenized stock narrative and its data isn’t too bad, though it does rely on Morpho, which is a downside. 3) Betting on short-term market hype and mining flywheel feedback: Shroom is still the best option. Its market buzz, rebound strength, and the insane APY from subsequent protocol mining will amplify its market heat. 4) Betting on a fresh tokenized stock narrative primitive: Pare is worth considering. It’s doing something very stock-native with dividend splitting, similar to Pendle. Its biggest competitor is Pendle stepping into the game. 5) Betting on something that looks solid and has stable growth: Delta is a good option. Its data scale and current market demand are solid, providing optimal pools for fragile tokenized stocks. Early-stage demand is high, but its weakness is a lower moat and it’s not purely driven by native tokenized stocks. 6) Ramses, up, and the near-zero TWO are better suited for conservative old-school players. After all, these are projects from veteran teams, though they seem to be jumping on the tokenized stock narrative bandwagon. TWO might appeal to edgy players eager to buy into frontier narratives (its storytelling isn’t bad, but the market has been crushed). Note: The above opinions are for reference only and do not constitute investment advice. The uncertainty surrounding tokenized stock DeFi protocols is still greater than the certainty. Please invest at your own risk. DYOR! (If you think my analysis makes sense, follow my Fomo account: melhao02)