Real-world assets has become a strong narrative in the Web3 space over the past year. As interest rates have risen while DeFi yields have dropped (and exploits have impacted some blue-chip protocols), more and more players are emerging with offers of tokenized Treasurys, illiquid assets and credit products for new sources of yield. 

The question is, is access alone a benefit?

While some will argue that access to these asset classes should be universal, I disagree. 

There is a reason why complex credit products are currently only sold to investors who have the means and ability to understand and handle the risks. It’s not reasonable to expect someone who trades stocks on Robinhood to…

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