We will look back on 2023 as the year when real-world assets (RWAs) finally seized the spotlight they have long deserved. 

Amidst a year marked by diverse sentiment, fluctuating market conditions and rising off-chain yields, tokenized RWAs stepped up to meet the challenge of a looming liquidity crisis in the space. By bringing the “risk-free rate” on-chain, builders working with tokenized T-bills and real estate helped create a critical backstop to prevent even larger capital flight from crypto during the bear market.

Since the inception of DeFi Summer, one fact has been universally acknowledged: DeFi yields surpass those in traditional finance, a clear trade-off for the heightened…

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