RWAs are entering their productive phase.

Covered-call vaults on tokenized gold are live. How it works:

• Deposit tokenized gold
• Vault sells calls to market makers
• Premium paid upfront to depositors
• At expiry, rinse and repeat

This model already manages hundreds of millions in TradFi gold option-income products.

The tradeoff is simple:

• Gold stays below strike → you keep gold + premium
• Gold rips above strike → you keep premium but cap your upside

This isn't just about yield. It's about unlocking structured payoffs onchain.

Tokenized gold today. Equities, commodities, and custom derivatives tomorrow.

RWAs just got a lot more interesting than "put a bond on Ethereum."