# Сопутствующие статьи по теме RWA

Новостной центр HTX предлагает последние статьи и углубленный анализ по "RWA", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

a16z Partner: Perpetual Contracts Are Rewriting Global Trading Rules

Perpetual contracts ("perps"), a crypto-native innovation, are transforming global trading behavior and market structure. These non-expiring futures contracts have seen explosive on-chain growth in 2025, with decentralized exchange (DEX) volume surging 346% year-over-year to $6.7 trillion. Perps now extend beyond crypto to traditional assets like stocks, commodities, and even private company valuations. Key drivers include structural advantages over options for directional leverage: 24/7 trading, no expirations or rollovers, simpler risk exposure, and capital efficiency. Real-World Asset (RWA) perps have gained significant traction, at times comprising 44% of volume on leading DEXs like Hyperliquid. The ecosystem is expanding rapidly with new exchanges, front-ends, market creators, and liquidity providers. While challenges remain around liquidity, oracle reliability, and regulation, perps are evolving from a niche crypto instrument into a dominant global trading primitive. The open question is whether value will accumulate at the exchange layer or within applications built atop perpetual trading infrastructure.

marsbit04/10 08:15

a16z Partner: Perpetual Contracts Are Rewriting Global Trading Rules

marsbit04/10 08:15

Ondo Perps: Bringing Wall Street Prime Brokerage On-Chain?

Ondo Perps aims to bring traditional prime brokerage services on-chain by addressing key limitations in existing DeFi and tokenized stock markets. While crypto-native assets like BTC and ETH have mature derivatives markets, real-world assets (RWA), such as stocks, struggle due to structural flaws: over-reliance on stablecoin collateral, isolated liquidity pools, and inefficient capital utilization. Ondo introduces three innovations: allowing tokenized stocks as direct collateral, implementing cross-asset margin systems similar to traditional portfolio margining, and leveraging off-chain liquidity from traditional exchanges like Nasdaq/NYSE instead of building fragmented on-chain markets. This transforms stocks from static assets into active collateral, improves capital efficiency, and enables unified risk management across asset classes. The platform essentially functions as a multi-asset financial account system, blending decentralized and traditional finance. If successful, it could redefine asset boundaries, enhance institutional participation, and create a more integrated financial ecosystem. However, risks remain around liquidity reliability, complex cross-asset清算, and regulatory uncertainty for tokenized securities. The core question Ondo raises is whether traditional distinctions between "money" and "assets" remain relevant when diverse assets can mutually collateralize and interact in a unified market.

marsbit04/10 06:38

Ondo Perps: Bringing Wall Street Prime Brokerage On-Chain?

marsbit04/10 06:38

Node Count Drops 70%, This Time Solana Is in a Hurry

Solana's validator count has dropped by 70% from its peak of 2,560 in March 2023 to around 756, accompanied by a 35% decrease in its Nakamoto coefficient, indicating increased centralization. This decline is largely due to the phasing out of the Solana Foundation Delegation Program (SFDP), which previously subsidized smaller validators. Many of these validators were economically unviable without support, controlling only 19% of the total stake, while larger nodes held over 80%. In response, Solana is implementing a new validator policy effective May 1, focusing on infrastructure decentralization. The policy imposes limits: no single Autonomous System Number (ASN) can host more than 25% of staked SOL, and no single data center can exceed 15%. It also enforces stricter performance rules, including faster transaction processing and anti-censorship measures, to improve network reliability and security. Critics, like node operator Chainflow, argue that the rules may unfairly penalize competent smaller validators based on their hosting location rather than performance, potentially forcing them into less reliable infrastructure and accelerating their decline. Amid ambitions to become a "Nasdaq on-chain" for global capital markets, Solana trails Ethereum and BNB Chain in real-world asset (RWA) value but leads in user activity. The network's upgrades aim to enhance stability and reduce finality times, competing with Ethereum's efforts to scale and decentralize further. The success of Solana's new policies is crucial for gaining institutional trust and competing effectively in the evolving blockchain landscape.

marsbit04/10 04:08

Node Count Drops 70%, This Time Solana Is in a Hurry

marsbit04/10 04:08

Crypto Enters the Investment Era: Institutional Entry Reshapes Capital Structure, Revenue and Value Return Become Core Metrics

Cryptocurrency is transitioning from a speculative era dominated by memecoins and "pump-and-dump" schemes to an investment-focused phase driven by institutional adoption and real revenue generation. By 2026, tokens without sustainable income or value accrual mechanisms will struggle, while protocols with proven revenue, strong tokenomics, and holder rewards will dominate. Key metrics like Price-to-Sales (P/S) ratios and annualized holder yield are becoming critical for evaluation. Major institutions (e.g., NYSE, BlackRock) are leveraging blockchain for faster settlements and tokenized assets, accelerating DeFi adoption. However, concentration risk is high: only ~3.5% of protocols generate significant revenue, and the top players often capture most market share. The future may see AI-driven "agent finance" further consolidating activity into high-utility, revenue-generating protocols, leaving others obsolete.

marsbit04/10 03:26

Crypto Enters the Investment Era: Institutional Entry Reshapes Capital Structure, Revenue and Value Return Become Core Metrics

marsbit04/10 03:26

Pharos Network Completes $44 Million Series A Funding, Total Funding Reaches $52 Million, Accelerating the Scalable Development of the On-Chain Economy

Pharos Network, a Layer 1 blockchain designed for institutional financial applications, has raised $44 million in Series A funding, bringing its total funding to $52 million. The round was co-led by undisclosed major institutions, including a top Asian private equity fund, a listed new energy company, and a licensed Hong Kong institution. Other strategic investors include Sumitomo Corporation (via a subsidiary), SNZ, Chainlink, and Flow Traders. The funds will accelerate the development of its on-chain real-world asset (RWA) infrastructure in Asia and globally. Pharos aims to integrate $50 trillion in RWA, traditional finance (TradFi), and cross-chain capital into a modular on-chain economy. The network uses a deeply parallel execution architecture with built-in compliance modules tailored for real-time, asset-backed financial applications. The company recently partnered with energy giant GCL to launch an RWA pilot project backed by energy assets. Its Atlantic Ocean testnet is already operational, supporting millions of users and hundreds of millions of addresses, demonstrating its capacity for high-frequency, high-value asset transfers in preparation for mainnet launch. Pharos was co-founded by ex-Ant Group core management, including CEO Wish Wu, and previously raised an $8 million seed round in November 2024.

marsbit04/08 12:21

Pharos Network Completes $44 Million Series A Funding, Total Funding Reaches $52 Million, Accelerating the Scalable Development of the On-Chain Economy

marsbit04/08 12:21

Wintermute EthCC Observations: DeFi Shifts Entirely to Vault Track, Founders No Longer Rush to Issue Tokens

Wintermute Ventures investment manager Joscha Kupferberg attended EthCC in Cannes and shared key observations: VCs are more cautious but still investing, founders are prioritizing token launches and focusing on product development first, and DeFi builders are heavily shifting toward the Vault sector. Other trends include the rise of on-chain forex, privacy-focused DeFi, and prediction markets. Neobanking features are becoming standard rather than differentiators, and most crypto AI applications have reverted to trading bots. The overall atmosphere was positive, with fewer hype-driven projects and more substantive development.

marsbit04/08 09:35

Wintermute EthCC Observations: DeFi Shifts Entirely to Vault Track, Founders No Longer Rush to Issue Tokens

marsbit04/08 09:35

ASTER vs. Hyperliquid: Can USD1’s 34.3% growth shift market leadership?

The market is shifting toward DeFi, with stablecoins acting as a key bridge between traditional and decentralized finance. In this context, Aster’s [ASTER] partnership with WorldLibertyFinancial [WLFI] positions WLFI’s native stablecoin, USD1, as the base layer for ASTER’s perpetual markets and real-world asset (RWA) initiatives. USD1’s market cap grew 34.3% this year, reflecting strong demand for structured, real-world assets. Despite broader market headwinds, the partnership aims to strengthen ASTER’s liquidity and competitiveness. While Hyperliquid [HYPE] dominated Q1 perpetual volume with $620 billion (compared to ASTER’s $318 billion) and saw its token rise 43%, ASTER declined 3.32%. The integration of USD1 could help ASTER narrow the gap with Hyperliquid and expand its presence in both trading and RWA markets.

ambcrypto04/08 03:02

ASTER vs. Hyperliquid: Can USD1’s 34.3% growth shift market leadership?

ambcrypto04/08 03:02

Solana RWA holders jump 440% YoY – Can it bridge gap to Ethereum’s XAUT?

Solana's RWA ecosystem is experiencing explosive growth, with a 440% year-over-year surge in holders, totaling 218,000. This positions Solana as a major hub for tokenized real-world assets, which now have a total on-chain market cap of $24 billion. While Tether Gold (XAUT) on Ethereum leads the RWA market at $3.3 billion, Solana is gaining momentum through its strong focus on tokenized U.S. Treasuries. These assets, which make up over 50% of the RWA market, could generate revenue to strengthen Solana's digital asset treasuries (DATs) and support long-term network growth. The IMF has warned that the rapid growth of on-chain RWAs could disrupt traditional finance. Solana's expansion in this sector suggests it could become a viable alternative to Ethereum for institutional capital seeking tokenized assets.

ambcrypto04/06 16:00

Solana RWA holders jump 440% YoY – Can it bridge gap to Ethereum’s XAUT?

ambcrypto04/06 16:00

Solana – Is ‘liquidity’ the real FOMO signal for SOL this cycle?

Despite a 35% price decline in Q1, Solana's on-chain fundamentals remain strong, suggesting potential undervaluation. Key metrics show a divergence: while SOL's price lagged, its stablecoin market cap grew by 5%, and the network processed over 500 billion transactions, far surpassing competitors. Total Real World Asset (RWA) value on Solana reached a record $2 billion, a 40% quarterly increase, further boosted by the recent SoFi partnership. The strategic minting of USDC on the network indicates that liquidity, rather than price action, is becoming the primary FOMO driver for SOL this cycle, as capital flows and usage continue to expand.

ambcrypto04/03 22:02

Solana – Is ‘liquidity’ the real FOMO signal for SOL this cycle?

ambcrypto04/03 22:02

Tokenized deals incoming? Franklin Templeton experiments with blockchain-based M&A

Franklin Templeton has launched Franklin Crypto, a dedicated institutional-grade crypto investment management platform. The initiative, co-led by ex-CoinFund executives and senior internal leadership, aims to expand the firm’s digital asset capabilities. A key innovation involves using tokenized registered securities for settlement, moving toward on-chain M&A transactions. The acquisition of 250 Digital and its crypto strategies, managed by CoinFund, is part of this expansion. The move has drawn industry praise and highlights growing institutional adoption of blockchain technology. Regulatory developments, such as the potential passage of the CLARITY Act, could further accelerate this trend. The deal is expected to close by Q2 2026.

ambcrypto04/03 06:02