现实世界资产：DeFi 指数增长和跨链互操作性的下一个前沿

近几个月来，加密市场出现爆炸式增长，特别是在现实世界资产（RWA）领域。 RWA 是房地产和债务证券等实物资产的代币化版本，可以释放流动性和部分所有权。新兴的 RWA 资产类别预计将呈指数级增长，预计到 2030 年将达到 3.5 万亿美元至 16 万亿美元。随着创新空间的发展势头增强并为非流动资产释放流动性，RWA 正在成为 DeFi 增长的下一个前沿。

Real-world Assets: The Next Frontier for Decentralized Finance

现实世界资产：去中心化金融的下一个前沿

The convergence of blockchain technology and traditional finance has birthed a new era of asset tokenization, ushering in a paradigm shift that unlocks liquidity and fractional ownership in previously illiquid assets. Real-world assets (RWAs), such as real estate, private equity, debt securities, and commodities, are now being digitized and represented on blockchain networks, paving the way for a decentralized future.

区块链技术和传统金融的融合催生了资产代币化的新时代，带来了范式转变，释放了以前非流动性资产的流动性和部分所有权。现实世界资产（RWA），如房地产、私募股权、债务证券和大宗商品，现在正在数字化并在区块链网络上表示，为去中心化的未来铺平了道路。

Exponential Growth and Market Potential

指数增长和市场潜力

RWAs have emerged as the next frontier for growth in decentralized finance (DeFi), with experts projecting an exponential surge in their value over the coming years. Estimates vary, with some predicting a market size of $3.5 trillion, while others forecast a staggering $16 trillion by 2030. This nascent asset class has already surpassed an $8.5 billion valuation, and its allure continues to attract mainstream entities, further validating its immense potential.

RWA 已成为去中心化金融 (DeFi) 增长的下一个前沿领域，专家预计其价值在未来几年将呈指数级增长。人们的估计各不相同，一些人预测市场规模将达到 3.5 万亿美元，而另一些人则预测到 2030 年市场规模将达到惊人的 16 万亿美元。这一新兴资产类别的估值已超过 85 亿美元，其吸引力继续吸引主流实体，进一步验证了其巨大潜力。

Cross-chain Interoperability and Value Transfer

跨链互操作和价值转移

RWAs are not only transforming the way we invest in traditional assets but also facilitating cross-chain interoperability and seamless value transfer between traditional financial systems and decentralized networks. According to Manit Parikh, CEO of Binary Holdings, "Integrating RWA into DeFi can facilitate cross-chain interoperability, enabling seamless value transfer between traditional financial systems and decentralized networks."

RWA 不仅改变了我们投资传统资产的方式，还促进了传统金融系统和去中心化网络之间的跨链互操作性和无缝价值转移。 Binary Holdings 首席执行官 Manit Parikh 表示，“将 RWA 集成到 DeFi 中可以促进跨链互操作性，实现传统金融系统和去中心化网络之间的无缝价值转移。”

3 Trailblazing RWA Projects

3 个开创性的 RWA 项目

Amidst the burgeoning RWA landscape, there are several projects that stand out as pioneers, propelling the industry forward with innovative solutions. Here are three notable examples:

在蓬勃发展的 RWA 领域，有几个项目脱颖而出，成为先锋，通过创新解决方案推动行业向前发展。以下是三个值得注意的例子：

1. Mantra: The Blockchain for Tokenized RWAs

1. Mantra：代币化 RWA 的区块链

Mantra Finance has positioned itself as the blockchain for tokenized RWAs and regulated digital assets. Founded in 2020, Mantra has established a fully compliant, regulatory-friendly multi-asset platform that seeks to bridge traditional finance (TradFi) and DeFi. Mantra's focus on regulatory adherence has made it an attractive option for institutions seeking exposure to RWAs and digital assets in a trusted, compliant environment.

Mantra Finance 将自己定位为代币化 RWA 和受监管数字资产的区块链。 Mantra 成立于 2020 年，建立了一个完全合规、监管友好的多资产平台，旨在架起传统金融（TradFi）和 DeFi 的桥梁。 Mantra 对遵守监管的关注使其成为寻求在可信、合规环境中接触 RWA 和数字资产的机构的有吸引力的选择。

Mantra's core products include a central limit order book (CLOB) that enables the trading of unique tokenized RWAs, such as debt securities, real estate, private equity funds, and more. The platform recently secured $11 million in funding, which will be used to build regulatory-compliant infrastructure, provide developer tools for building RWA protocols, and expand tokenization opportunities globally, with a particular focus on the Middle East and Asia.

Mantra 的核心产品包括中央限价订单簿 (CLOB)，可实现独特的代币化 RWA 交易，例如债务证券、房地产、私募股权基金等。该平台最近获得了 1100 万美元的资金，将用于构建符合监管的基础设施、提供用于构建 RWA 协议的开发人员工具，并在全球范围内扩大代币化机会，特别关注中东和亚洲。

2. Ondo Finance: Bridging DeFi and Traditional Finance

2. Ondo Finance：连接 DeFi 和传统金融

Ondo Finance is a visionary venture that seeks to bridge the gap between traditional financial instruments and blockchain technology. While its primary offering revolves around making DeFi yields accessible through risk-isolated, fixed-yield crypto loans, Ondo has been at the forefront of the RWA tokenization revolution.

Ondo Finance 是一家富有远见的企业，致力于弥合传统金融工具与区块链技术之间的差距。虽然 Ondo 的主要产品围绕通过风险隔离、固定收益的加密货币贷款提供 DeFi 收益，但 Ondo 一直处于 RWA 代币化革命的前沿。

Ondo has created groundbreaking offerings such as USDY, a stablecoin providing exposure to US Treasuries, and OUSG, a token representing on-chain US government securities. By tokenizing real-world assets like government debt, Ondo unlocks enhanced liquidity, accessibility, and transparency compared to legacy markets. Investors can trade these tokenized assets around the clock without relying on intermittent trading windows.

Ondo 创造了突破性的产品，例如 USDY（一种提供美国国债敞口的稳定币）和 OUSG（代表链上美国政府证券的代币）。通过对政府债务等现实世界资产进行代币化，与传统市场相比，Ondo 提高了流动性、可访问性和透明度。投资者可以全天候交易这些代币化资产，而无需依赖间歇性交易窗口。

Ondo has also developed the Ondo Bridge, a core infrastructure component that facilitates seamless transfers of tokenized assets across multiple blockchain networks. This cross-chain interoperability is crucial for the continued real-world adoption of RWAs.

Ondo 还开发了 Ondo Bridge，这是一个核心基础设施组件，有助于跨多个区块链网络无缝转移代币化资产。这种跨链互操作性对于现实世界中 RWA 的持续采用至关重要。

3. BUIDL: BlackRock's Tokenized Fund Offering

3. BUIDL：贝莱德的代币化基金发行

In a landmark move, BlackRock, the world's largest asset manager, recently launched its BUIDL platform (BlackRock USD Institutional Digital Liquidity Fund). BUIDL represents BlackRock's first tokenized fund offering on the Ethereum blockchain, and since its release, a staggering $1 billion in US Treasuries have already been transferred on-chain.

全球最大的资产管理公司贝莱德最近推出了BUIDL平台（贝莱德美元机构数字流动性基金），这是一项具有里程碑意义的举措。 BUIDL 代表贝莱德在以太坊区块链上首次发行代币化基金，自发布以来，已有高达 10 亿美元的美国国债转移至链上。

Through BUIDL, qualified institutional investors can earn yields on their US dollar holdings via tokenization. The fund ensures regulatory compliance by issuing shares under SEC rules and partnering with reputable custodians like Coinbase, Anchorage Digital Bank NA, BitGo, and Fireblocks.

通过 BUIDL，合格的机构投资者可以通过代币化从其持有的美元中赚取收益。该基金通过根据 SEC 规则发行股票并与 Coinbase、Anchorage Digital Bank NA、BitGo 和 Fireblocks 等信誉良好的托管机构合作，确保监管合规。

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