The RWA (Real-World Asset) track has been going crazy lately. After tokenizing government bonds and real estate assets, now gold and silver are also making their way in.

A certain trading protocol recently launched on-chain trading pairs for gold and silver, supporting up to 20x leverage. This is not some shell project or tokenization scheme, but real physical gold and silver. Prices are fully aligned with global market rates, with real-time price feeds provided by multiple institutional-grade oracles to ensure accurate and reliable quotes.

What does this mean?

First, the gold market size reaches $13 trillion, making it one of the largest commodity markets in the world. Central banks around the globe are still aggressively accumulating gold every year, and now crypto users can finally get a piece of the pie. Second, a unified account system allows you to hold cryptocurrencies, commodities, index products, and yield instruments all within the same wallet, greatly enhancing asset allocation flexibility. Plus, with 20x leverage, even the relatively stable gold can be played with in various ways.

On a deeper level, this is a microcosm of the broader RWA trend. Traditional financial assets are accelerating their entry into blockchain, from bonds and real estate to precious metals—one by one. In the past, crypto was often criticized for lacking intrinsic value support, but now that criticism is finally being addressed. DeFi is no longer just an empty castle in the air.

But there’s also a paradox here. As traditional finance fully moves on-chain, the entire underlying mechanism—such as oracles, custodians, and liquidation systems—still fundamentally relies on centralized participants to ensure trustworthiness. So how much of the original promises of decentralization and censorship resistance in crypto can actually be preserved?

Forget it, no need to overthink. Being able to leverage 20x to buy the dip in hard assets like gold—let’s just go all in first. What’s your take? Will RWA make crypto more compliant or more centralized?