There are ~$30B of tokenized assets onchain (excluding stablecoins). But only ~$3.2B is actually being used in DeFi. Most RWAs are stuck at the "tokenized asset" stage, but the real growth comes when they reach the "productive asset" stage. The first wave brought safe, familiar assets onchain like Treasuries, money market funds, gold, and credit. That part worked. The second wave is integration. Tokenized Treasuries become collateral, Money market tokens become liquidity, and Real-world yields become trading exposure. It's already happening now. RWA deposits in DeFi tripled from $2.33B to $7.44B YoY, while overall DeFi TVL fell 15%. The biggest RWA assets right now: • USYC • BUIDL • XAUT • PAXG • SyrupUSDC • USDY @ethereum still leads in RWA activity, but @solana is becoming the home for tokenized stocks. June tokenized stock volume hit ~$3.4B, and Solana did 90%+ of it. RWA perps are waking up too. June was their first month ever. People are trading tokenized equities, oil, gold, and even fiat currencies now. So the shift is clear. People aren't just parking money in tokenized T-bills anymore. They're trading RWAs, borrowing against them, and using them across DeFi. Stablecoins were crypto's first real PMF because they made dollars move faster. RWAs are running the same play for stocks, treasuries, funds, commodities, and credit. Private markets will come later. I'm not sure which category breaks out first, but the boring corner of crypto is the one with the clearest growth right now. If you're bullish on RWAs, how are you getting exposure?(Edgy - The DeFi Edge 🗡️)