RWA Narrative Heats Up: A Quick Overview of the Current Development Status of On-Chain Treasury Bond Ecosystem Projects

Background With changes in the macroeconomic environment, DeFi products are adapting and changing. In DeFi 1.0, sustainable stablecoin yields were a pillar, but now the yields of low-risk instruments have fallen below traditional financial markets. Therefore, traditional financial products have become more attractive due to their low-risk characteristics, leading to an interesting interweaving between traditional finance and DeFi.