I have discovered a very interesting misalignment phenomenon! Indeed, institutions such as BlackRock and Franklin have moved their assets onto the blockchain, and the RWA market has risen nearly fivefold in 18 months The picture. But I asked a circle of friends who play encryption around me, how many of them actually invested in these institutional level assets? Almost none! It's not that I don't want to buy, it's simply that I can't get in. High threshold, poor liquidity, and waiting for redemption window period, at least KYC can card 90% of people. So the problem with RWA and Defi now is not the lack of good assets on the chain, but the lack of an entry point that ordinary people can access. What GRVT has been doing recently is to address this gap. Its logic is simple: our money is placed in the account, indirectly penetrating the RWA issued by institutions such as BlackRock to obtain a basic return of over 3.5%. The key is that this money can also be used as margin to open a position, without the need for separate transfers. There is no redemption window period, internal market makers provide liquidity, and customers can withdraw at any time if they want. I have talked to Hong a few times, and he said that GRVT is not looking to become a larger contract exchange, but rather a self managed version of Robinhood with institutional level income accounts. I personally think this direction is right. By connecting institutional asset issuance with retail investors, whoever can build this bridge well has the opportunity to become a new entry point for on chain wealth management. Especially now that BTC is falling, people mainly have stablecoins in their hands. Looking for a reliable profit outlet, the demand is real. June will be a month of constant trouble for GRVT, with the launch of RWA Vault and TGE at the end of the month, which is still worth paying attention to!