Everyone knows that after RWA assets are put on-chain, besides holding and trading, can they truly participate in on-chain finance? @strato_net's answer is HardFi. Simply put, it allows RWA assets like gold and silver to go beyond just being asset certificates stored in a vault; they can become collateral in on-chain financial activities. According to the project's design, users can deposit eligible assets into a CDP (Collateralized Depositary Receipt), mint the USD stablecoin USDST, and then use USDST for savings, exchanges, liquidity, and other scenarios. This logic means users don't necessarily have to sell their gold first to obtain funds for other financial activities. For example, if you hold a certain amount of gold and want to retain this asset while also needing USD liquidity, you can focus on the path designed by STRATO: deposit collateral, mint USDST, and then use it according to your needs. Of course, this doesn't mean borrowing is without cost or risk. CDP positions have collateral ratio requirements. If the collateral ratio falls below the minimum level stipulated in the protocol, liquidation may be triggered. Therefore, changes in collateral value, loan size, and liquidation rules are all things to understand before actual use. Specifically, regarding the product itself, STRATO has three noteworthy aspects. First is its underlying L1 layer. It's not just a conceptual network awaiting launch; the mainnet is already running, and related applications support operations such as staking, minting USDST, exchanging, and liquidity provision. Technically, STRATO uses a Haskell-based Ethereum client, with contracts running on SolidVM, and provides an Ethereum-style JSON-RPC interface. It has its own execution environment and network design, but it also considers the usage habits of Ethereum wallets. Second is its native assets. GOLDST and SILVST correspond to one troy ounce of physical gold and silver in the vault, respectively, and the project documentation explains the physical redemption mechanism. USDST is STRATO's USD stablecoin, generated through a collateralized debt position mechanism. There's also an interesting difference here. Gold tokens like PAXG and XAUT essentially map physical gold onto the blockchain; STRATO goes further, attempting to integrate GOLDST and SILVST into CDPs, allowing eligible metal assets not only to be held and transferred but also used to mint USDST. In other words, the project aims to do more than just tokenize RWA; it seeks to integrate these assets into on-chain financial use cases. Of course, the specifics of whether they can be used as collateral and the conditions for doing so will depend on the contracts and protocols of the respective assets. The STRATO project is developed by the BlockApps team, whose technological path can be traced back to early Ethereum client development in 2014. Co-founder and CEO Kieren James-Lubin participated in early Ethereum client development, CTO Jim Hormuzdiar participated in early Haskell client development, and CPO Victor Wong has experience in blockchain infrastructure. STRATO is a network token designed for staking, paying network fees, preferential borrowing fees, and governance, but not all of these functions are currently available. Currently, network transaction fees are paid in USDST or vouchers; using STRATO to pay gas is still in the future planning stages. The staking mechanism is also being implemented in phases and should not be interpreted as all mainnet staking functionality being fully enabled. TGE is expected to be released in Q4 2026; the specific timing and token unlocking arrangements will be subject to official announcements.