lixiaolong

The RWA (Real World Assets) sector leads A-shares, with heated discussions on tokenization in U.S. stocks, and traditional capital accelerating its layout in Web3. Lorenzo Protocol's USD1+ OTF product innovates tokenized quantitative trading and RWA strategies: Users deposit USDC/USDT/USD1 to mint sUSD1, gaining triple returns from RWA + CeFi + DeFi, supporting on-chain lending; deploying BSC, first using WLFI's USD1 settlement, merging political capital with on-chain finance. In the second half of 2025, RWA narratives will explode at scale.
Market scale soars: $3 billion in 2024, exceeding $30 billion by the end of Q3, with private credit at $1.7 billion and U.S. Treasury bonds at $7.3 billion leading the way. USDT market cap at $224.9 billion, tokenized stocks up 297%. Institutional influx: BlackRock, Apollo, and Ondo launch funds; Nasdaq receives SEC approval for securities trading; A-share blockchain stocks lead the rise, benefiting from the UK sandbox and Hong Kong framework. Expected to exceed $20 billion by the end of the year.

It's 2025, and blockchain is increasingly resembling the plot of a sci-fi movie—traditional financial giants are starting to sneakily get involved in the chain, and @Injective is the leader of the pack. As a Layer 1 chain, it started in 2018, and within a few years of its mainnet launch, it created a variety of multi-virtual machine (MultiVM) features that caught the attention of DeFi developers. INJ's market capitalization has exceeded 800 million, with over 290,000 active users and trading volume that is incredibly robust. Today, let's discuss some of its recent major events and why I believe this wave of RWA (Real World Assets) revolution is not just talk.

Elizabeth posted a donation screenshot yesterday, saying she donated 200,000 HKD to the big fire in Hong Kong, and added a phrase, "The fire is ruthless, but people have feelings." The screenshot looks quite official, with the Hong Kong Community Chest Fund page clearly stating the amount of 200,000 HKD and the donation hotline 1872828 below. The comments section was filled with phrases like "Sister is generous" and "Hong Kong is better with you," I was about to like it. But just a few hours later, the tide completely turned.

The first to jump out and hammer her was Niu Yingjun (@abyssofgambling). This guy, like a microscope, compared Elizabeth's screenshot with real donation pages from others side by side, magnifying them to find that the font for the amount "200000" looked off—especially the "2," which was thin as if it hadn't eaten for three days, and the curve was missing a pixel, completely different from the nearby "HKD" and "1872828". He directly stated, "Is the donation also photoshopped?" Accompanied by four or five enlarged images, the comments section exploded instantly. Following that, Mao Lei (@CryptoNyaRu) also joined in, directly cursing: "Why do we say Elizabeth is a stupid fraud? Just look at these few images and you'll understand." He was even harsher than Niu Yingjun, pointing out the details clearly, even marking the position deviation of the two characters "傳真."

In 2013, a programmer from Fujian named Huang Tianwei quit his job at Tencent, rented a small office in Nanshan, Shenzhen, and hung out the sign "Bit Era." At that time, the cryptocurrency world was still very small, and everyone called him "Old Huang." He established the "three no principles": no MLM coins, no funding platforms, no air coins. When users lost money due to counterfeit coins in the middle of the night, he personally compensated them; when Ethereum was just released, he was the first to launch spot trading; during the New Year, he distributed hundreds of thousands in red envelopes and personally taught elderly people how to transfer coins to cold wallets. Many people stored their first pot of gold in Bit Era and regarded Old Huang as one of their own.

GAIB was at its peak when launched, plummeting over 60% in 24 hours, issues with airdrop bugs, deletion of transparency pages, no audits, withdrawal restrictions, and KOLs collectively fleeing… It has been criticized as the most brutal 'fundraising - dumping - fleeing' trio of 2025. However, after my research, I believe this project can indeed be salvaged for four reasons!

1. The core product is reliable
AID is essentially packaging the real rental income of H200/H100 clusters into on-chain dollar financial products. Staking sAID can yield an annualized return of 20-35% (real rental income 12-18% + mining subsidies), and it can also leverage up to 60-120% in Pendle. Essentially, it takes the cash flow from mining operators and distributes it to DeFi players.

X Layer this mess has escalated again! Recently, the 'Hello 402' (H402) project directly crashed on-chain, and the community was in an uproar. Before the project team launched, they relied on a few poor images to deceive people, raising funds from $200,000 to $300,000, and not a single promised feature was delivered; they just threw some money into the liquidity pool, causing the token price to be halved. What’s even more infuriating is that the contract contains a backdoor for developers to mint unlimited coins, which is clearly a premeditated escape act.
On-chain peeling shows that the developer's funding sources are unclear, using the Butter cross-chain tool (which is just a little privacy trick) to withdraw funds from OKX, bypassing the proper channels. PotatoSwap on DEX is also involved, having early on spread false news claiming 'automatic liquidity addition', and later stubbornly insisted that they only manage liquidity. After the exposure, H402 quickly disabled comments and even shifted the blame onto the public chain, causing a huge uproar.

Morpho< m-16/> is a leader in DeFi lending protocols, optimizing the limitations of traditional models through the Curator mechanism. Unlike Aave's purely algorithm-driven approach, Morpho Blue allows Curators to create Vaults, offering customized strategies and high APY (such as 15-25%), attracting capital inflow. After submitting code, Curators can manage assets for leverage or arbitrage operations without identity disclosure. DeFiLlama data shows that Morpho's TVL exceeds $3 billion, accounting for about 40% of the Curator ecosystem, reflecting its advantages in efficiency and flexibility: users can choose high-yield strategies, and the protocol enhances liquidity through optimized matching.