Observing Zama's future development, there are two dimensions to consider: 1️⃣ Horizontal: Becoming a standard for most DeFi Currently, integrations are happening one after another, and TVL has skyrocketed to 80M+. In the future, we’ll see if it can become the go-to privacy plugin for most on-chain DeFi. Personally, I don’t think this will be too difficult. When I initially invested in Zama, one of the considerations was that Zama’s privacy options don’t require users to leave their familiar chains and applications. Instead, privacy is offered as a Lego-like plugin, seamlessly integrated into these chains and apps. 2️⃣ Vertical: Becoming the choice for institutional RWA on-chain Right now, most of the funds are still retail-driven, and the DeFi protocols that have integrated Zama’s privacy (like Morpho, etc.) are still in the experimental phase. The next wave of significant TVL (hundreds of billions or more) will come from the most important theme of this bull market: RWA on-chain. When institutions participate in on-chain RWA, balancing compliance and privacy will likely lead them to choose Zama. 3️⃣ Current observations: I think Zama has already done a great job executing its horizontal strategy, laying the groundwork for its vertical strategy. If you’re considering the privacy narrative, the purest choice is Zama. It has already proven the feasibility of its product with 80M+ TVL. As for institutions moving on-chain, that’s the real climax. Let’s just hold tight and keep watching. #Zama #DeFi #Crypto #RWA #Privacy #Blockchain