#现实世界资产代币化 Looking at the concentrated explosion of RWA projects on Solana Breakpoint, I actually feel a bit cautious.

From Splyce Finance's 10% annual interest stablecoin, to giants like State Street launching tokenized liquidity funds with $5 trillion AUM, and Uranium Digital enabling institutions to buy physical uranium on-chain — on the surface, the ecosystem seems to be booming. But honestly: these projects are essentially about moving real-world assets onto the chain to profit from arbitrage.

I've seen too many "high-yield traps." Those products promising above-market interest rates often hide risks or are just variants of Ponzi schemes. A 10% annual rate sounds tempting, but it's collateralized by "multi-family residential mortgage cash flow" — how can that be verified on-chain? Who audits it? And if defaults occur, how do retail investors protect their rights?

What truly deserves attention are the infrastructure-level innovations — like Light Protocol's new token standard, which is 200 times cheaper, or deBridge's simplified cross-chain execution model. These are the things that make the ecosystem genuinely usable. Not projects that claim to be "tokenizing real-world assets" but are essentially just financial product innovations.

If you want to survive longer, remember one thing: the more "high-end" an investment opportunity looks, the more hidden its risks often are. During this RWA boom, instead of chasing high yields, focus on whether the project's risk disclosures are transparent and whether the liquidation mechanisms are reliable.