I believe the biggest source of growth in the next phase of DeFi may not come from new public blockchains, but from RWA truly entering DeFi.
Several key signals have already emerged:
The SEC is advancing a compliant trading framework for tokenized U.S. stocks, which means that “real U.S. stocks + public blockchains + AMMs” may soon be more than just a concept.
Uniswap v4’s Hooks / Permissioned Pools are ideally suited to this kind of “compliant access + on-chain liquidity” architecture. UNI’s long-term thesis could evolve from “the largest DEX” into global trading and liquidity infrastructure for on-chain assets.
Aave has already gone a step further. Several of Coinbase’s tokenized stocks can now be used as collateral on Aave to borrow USDC, showing that this path is already taking shape:
Stocks on-chain → collateral → credit
So if tens or even hundreds of billions of dollars’ worth of securities eventually come on-chain, what I’ll focus on isn’t “how many tokenized stocks there are,” but whether these assets go on to be used for:
Trading, collateral, lending, leverage, liquidations, and protocol fees.
That’s why, for the long term, I’m currently paying closer attention to:
UNI: trading / liquidity layer
AAVE: credit / securities financing layer
LINK: price, liquidation, and RWA data infrastructure
HYPE still represents the thesis of an on-chain derivatives exchange with strong cash flow, while CAKE is more of an undervalued retail AMM with a high burn rate.
But it’s still too early to declare “DeFi Summer.”
I’m waiting for several confirmation signals to appear together:
A sustained decline in BTC Dominance, continued strength in ETH/BTC, DeFi leaders consistently outperforming ETH, and simultaneous growth in DEX trading volume and protocol revenue.
The catalyst truly worth waiting for is the first batch of regulated tokenized U.S. stocks generating sustained on-chain trading volume and then making their way into Uniswap / Aave.
At that point, RWA will have truly moved from “narrative” to “cash flow.”
#RWA #DeFi #UNI
#AAVE
#LINK
#Uniswap
Several key signals have already emerged:
The SEC is advancing a compliant trading framework for tokenized U.S. stocks, which means that “real U.S. stocks + public blockchains + AMMs” may soon be more than just a concept.
Uniswap v4’s Hooks / Permissioned Pools are ideally suited to this kind of “compliant access + on-chain liquidity” architecture. UNI’s long-term thesis could evolve from “the largest DEX” into global trading and liquidity infrastructure for on-chain assets.
Aave has already gone a step further. Several of Coinbase’s tokenized stocks can now be used as collateral on Aave to borrow USDC, showing that this path is already taking shape:
Stocks on-chain → collateral → credit
So if tens or even hundreds of billions of dollars’ worth of securities eventually come on-chain, what I’ll focus on isn’t “how many tokenized stocks there are,” but whether these assets go on to be used for:
Trading, collateral, lending, leverage, liquidations, and protocol fees.
That’s why, for the long term, I’m currently paying closer attention to:
UNI: trading / liquidity layer
AAVE: credit / securities financing layer
LINK: price, liquidation, and RWA data infrastructure
HYPE still represents the thesis of an on-chain derivatives exchange with strong cash flow, while CAKE is more of an undervalued retail AMM with a high burn rate.
But it’s still too early to declare “DeFi Summer.”
I’m waiting for several confirmation signals to appear together:
A sustained decline in BTC Dominance, continued strength in ETH/BTC, DeFi leaders consistently outperforming ETH, and simultaneous growth in DEX trading volume and protocol revenue.
The catalyst truly worth waiting for is the first batch of regulated tokenized U.S. stocks generating sustained on-chain trading volume and then making their way into Uniswap / Aave.
At that point, RWA will have truly moved from “narrative” to “cash flow.”
#RWA #DeFi #UNI
#AAVE
#LINK
#Uniswap