RWA is gradually shifting from a hot topic to a real application scenario. Over the past year, the discussion around on-chain real-world assets has remained highly active, and 2026 could be a turning point—more and more traditional assets such as real estate, bonds, and equity are beginning to touch blockchain. This change will inevitably inject substantial real yields into the DeFi ecosystem.

The reason I am optimistic about the RWA direction is that it addresses a long-standing pain point in DeFi: the lack of genuine yield support on the asset side. Currently, the yields of many DeFi protocols are unsustainable, relying either on token issuance to support the market or being trapped in Ponzi schemes. But RWA is different; it can generate a continuous and stable cash flow—such as rent and bond interest—real income streams. This underlying logic is what constitutes a healthy ecosystem.

Some projects are attempting cross-chain RWA collateralization models, where users can directly use on-chain assets as collateral for borrowing. If this logic can be successfully implemented, capital efficiency will be greatly improved, and the line between traditional finance and DeFi will become increasingly blurred.

However, the path of RWA is not smooth. Legal issues are the top concern—on-chain assets involve complex legal relationships such as property rights recognition and cross-border transactions. Valuation is also a tricky problem—how to determine the value of off-chain assets? Who will audit them? These are unavoidable challenges. Additionally, liquidity is a concern; RWA is not as easy to trade as tokens, and a mature secondary market needs to be established.

When investing in RWA projects, the team’s compliance capabilities and resource accumulation are especially critical. Not all RWA projects will reach the end; you need to find those with traditional financial backgrounds, regulatory licenses, and the ability to connect with real assets. Projects that only talk about concepts without practical implementation should be approached with caution.

I expect that by 2026, several RWA projects will stand out from many competitors and become unicorns in this track. This sector is worth continuous attention. Consider diversifying your holdings across several promising projects, but don’t allocate too heavily to each—this is fundamentally a long-term game. There won’t be explosive growth in the short term; patience and time are needed to validate.