As a long-term observer of the DeFi development, today I want to share an exciting major advancement. AlloyX recently launched an innovative product on the Polygon network—Real Yield Token (RYT), which is the world's first token that tokenizes traditional money market funds and seamlessly integrates with the DeFi ecosystem.

The launch of this innovative product marks a new height in the integration of traditional finance (TradFi) and Decentralized Finance (DeFi). It is particularly noteworthy that Standard Chartered Bank provides custody services for this product, which undoubtedly greatly enhances the credibility and security of RYT.

For those who may not be familiar with AlloyX, let me give a brief introduction. AlloyX is a leading stablecoin infrastructure provider headquartered in Asia, focusing on delivering Web3 financial solutions for institutional clients. The company holds relevant financial licenses in financial hubs such as Singapore and Hong Kong, which establishes a solid compliance foundation for them to launch innovative products like RYT.

The core design concept of RYT is quite unique: it tokenizes the selected US dollar money market funds of Huaxia Asset Management Company. Each RYT Token is backed by actual US dollar assets, a design that preserves the stability of traditional financial products while also granting it the flexibility and programmability of DeFi.

As a participant who has witnessed the evolution of DeFi from the 1.0 era to the present, I have to say that RYT represents an important milestone in financial innovation. It not only provides investors with a new way of asset allocation but also opens up a brand new path for the deep integration of traditional finance and blockchain technology.

With innovative products like RYT constantly emerging, we can foresee that the boundaries of the financial world will become increasingly blurred in the future. The collaboration between traditional financial institutions and blockchain companies will become closer, ultimately benefiting all financial consumers. Let us look forward to the arrival of this exciting new era of finance!