Where is the next stop for DeFi? The answer is already clear – **RWA (Real World Assets)**.

While many projects are still telling stories, some public chains have already done this. Just look at the data: the volume of stUSDT is there, and the scale of U.S. bond tokenization is also there. To put it bluntly, it is to move the trillion-dollar liquidity in traditional finance to the chain.

This is not a concept hype. When others are still drawing cakes on PPT, real players have long been speaking with actions - redefining traditional assets in the way of blockchain. This is the direction of DeFi evolution: not to talk about the ideal of decentralization, but to let real money flow in.

From stablecoin infrastructure to treasury-grade assets on the chain, the entire narrative logic has been run. Next, it depends on who can make the scale bigger and the experience smoother.