Lost all my money, time to work on projects! Accumulating capital again, quitting the industry is out of the question. I've been following this for a long time, it should be nearing TGE! What I find interesting about this over $260 million private lending deal between TownSquare and Multipli is what kind of businesses on-chain funds can now be lent to. Previously, when discussing RWA, the most familiar concept was simply putting existing US Treasury bonds on-chain. TownSquare has taken it a step further: finding projects with partners, securing loans, and then connecting the on-chain funds through Multipli. The initial phase mainly involved real estate loans, with a planned $500 million later, covering mining, AI data centers, energy storage, and robotics. I understand why they mentioned "BlackRock on-chain." If loans from different industries can be productized, on-chain funds have more options, earning interest directly from borrowers. But for data centers, I would first check if the data center has long-term clients and whether the profits are enough to repay the loans. While the blockchain can show what's been pledged, in the event of default, how long it takes for the collateral to be sold and how much money can be recovered depends on how it's executed offline. Therefore, I'm more interested in seeing the repayments from the first batch of real estate loans. The ability to consistently find reliable borrowers and collect payments on time is the most difficult aspect of this business to replicate. @TownSquarexyz