Yesterday, I found a small caf é in an old alley in Dali, enjoying cheap American style drinks. In my ears, the owner was chatting with the neighboring table about whether to rent the house for a short period of time. Suddenly flipping through my phone, I saw that the R2 mainnet was about to go live - it felt like the boss suddenly said he had turned the store into a homestay: it seemed like the same store on the surface, but in reality, it had been upgraded from a "neighborhood shop" to an "institutional compliant business". You have to decide: continue drinking your cheap American style drink, or take your wallet out of your pocket and try the profits of the new homestay - but don't forget to lock the doors and windows, and don't lend the keys to anyone. Real annualized returns of 9-10%, institutional level RWA bottom line, KYC free - sounds like a 'steady income'. In reality, 'institutional level' does not mean 'zero risk'; Behind high returns, there are four pillars supporting compliance, custody, asset screening, and market liquidity. Take a closer look at these four pillars and decide whether you want to get on the bus or not. @R2yield announced that R2 Protocol will be officially launched on the mainnet at 03:00 (UTC+8) on September 26th, with the first phase opening two types of Vaults (T-Bills Vault based on US bonds and Private Credits Vault based on private credit). Official and multiple media outlets have reported on the launch time and initial strategy. List of product highlights (target revenue: basic RWA annualized about 9-10%, plus platform subsidies and subsequent token incentives (Private Credits is said to have additional subsidies during the initial launch period). Institutional partners: Official disclosed partners include Securitize, BlackRock, VanEck, Centrifuge, Apollo, Fasanara, Goldfinch, etc. (listed as multi-party or ecological partners, with official information reprinted by the media). Security Audit: The project has passed security audits by PeckShield and Supremacy (both the project team and third-party media have reported on it). Participation method (super simple): Official website → Connect wallet → Select Vault (sR2USD or sR2USD+) → Deposit USDC → Withdraw profits every 90 days. The official page and announcement have operation entry instructions. ( http://r2.money ) Why does this matter attract people? Because it combines real-world returns (RWA) and on chain liquidity: theoretically, when you deposit USDC, the institution puts real assets on the chain to generate returns, which are then distributed to depositors and combined with additional returns from DeFi strategy layers. Similar projects: Goldfinch/Centrifuge/Maple/TrueFi - these are pioneers in blockchain based credit or real assets, providing returns. The selling point of R2 is to directly transform institutional level asset pools into Vault+stablecoin revenue products, and it claims to have top asset management endorsements and audits. Compared to Centrifuge: Centrifuge is more inclined towards bottom-up asset on chain (asset collateral+real on chain notes); R2 looks more like an 'on chain fund aggregator' (packaging institutional products into user accessible Vaults). Friends who want to try the water can follow the steps below: 1. First, go to the official website to read the "Vault Product Description" and "Asset Pool Details", and look for the PDF of the Attestation/Audit report to see clearly (who issued it and which assets are covered). 2. Experience small car purchases (such as trying 1-2% of the position first), observe whether the income is received, whether the redemption process is smooth, and whether the official disclosure is timely. Important Reminder (Must Read) DYOR 1. Not deposited in a bank: Any on chain product may face smart contract vulnerabilities, clearing risks, counterparty risks, regulatory changes, and liquidity risks. Even with auditing, there can be no guarantee of 'zero vulnerabilities'. Audit is about reducing risk, not avoiding risk 2. Institutional endorsement ≠ government guarantee: Names like BlackRock and VanEck can increase trust, but it does not mean that your principal is guaranteed by the government. Understand the specific ways of endorsement (whether it is fund pooling, asset provision, or strategic cooperation). 3. Custody and asset certification need to be verified: When the project party mentions custody and monthly attestation, they request certification of these reports (who is issuing them, which assets are covered by the reports, and whether they can be publicly verified). If the original files or verifiable evidence of third-party hosting/attestation cannot be found, caution should be exercised. 4. Liquidity/Redemption Window: Some RWA products have redemption delays or restrictions (such as quarterly or lock up period based release of earnings). Before boarding, it is necessary to confirm the withdrawal period and redemption rules (the official statement states that 'once every 90 days'). 5. Compliance and Cross border Risks: Different countries have varying regulations on RWA tokenization, and compliance risks may affect product availability or revenue distribution as regulatory dynamics change. A universal anti fraud mnemonic (commonly used in the industry): Look at the contract, look at the custody, look at the original audit report, don't just look at the media's secondary reports