#加密社区
$34.6 billion in RWA, 89% of it is sleeping
💰 大资金往哪走，群里跟踪
The on-chain tokenized real asset market has already reached $34.6 billion
But only $3.79 billion has actually been deployed into DeFi protocols
BlackRock’s BUIDL utilization rate is 0.64%
Franklin’s BENJI is literally 0
Circle’s USYC is only 0.52% too
Looking at the other side, those designed from the start as collateral have much higher utilization
JAAA is at 97.97%, reUSD at 97.87%, SyrupUSDT at 88.84%
The gap isn’t about product quality, it’s about use case
Someone from the institutional side came out and said something fair
People buy money market funds for yield and the ability to redeem anytime, not to have their money constantly moving around on-chain
Zero utilization still means it has done its job
That makes sense, but not entirely
RWA on Stellar grew from $785 million in January to $3 billion in July
Yet the pools in its lending protocol are only $2 million
Traditional assets don’t have 24-hour pricing; once a U.S. Treasury money market fund closes, it basically stops
DeFi wants assets that can be collateralized at any time, but the two sides just don’t connect
How to price them is a problem no one has answered well yet
Is RWA really real demand, or just a narrative game played by issuers themselves
Share your take in the comments
$34.6 billion in RWA, 89% of it is sleeping
💰 大资金往哪走，群里跟踪
The on-chain tokenized real asset market has already reached $34.6 billion
But only $3.79 billion has actually been deployed into DeFi protocols
BlackRock’s BUIDL utilization rate is 0.64%
Franklin’s BENJI is literally 0
Circle’s USYC is only 0.52% too
Looking at the other side, those designed from the start as collateral have much higher utilization
JAAA is at 97.97%, reUSD at 97.87%, SyrupUSDT at 88.84%
The gap isn’t about product quality, it’s about use case
Someone from the institutional side came out and said something fair
People buy money market funds for yield and the ability to redeem anytime, not to have their money constantly moving around on-chain
Zero utilization still means it has done its job
That makes sense, but not entirely
RWA on Stellar grew from $785 million in January to $3 billion in July
Yet the pools in its lending protocol are only $2 million
Traditional assets don’t have 24-hour pricing; once a U.S. Treasury money market fund closes, it basically stops
DeFi wants assets that can be collateralized at any time, but the two sides just don’t connect
How to price them is a problem no one has answered well yet
Is RWA really real demand, or just a narrative game played by issuers themselves
Share your take in the comments
