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The real asset tokenization (RWA) track has recently reached new heights. According to DeFiLlama data, the TVL of RWA has surpassed $17 billion, not only overtaking the DEX sector but also ranking among the top five sectors in the DeFi ecosystem. More notably, starting from this year, the TVL of the RWA track has increased by nearly $10 billion. Behind this growth rate, it reflects the rising trend of traditional financial assets being brought on-chain, with institutional investors' demand for compliant, asset-backed on-chain products continuing to grow.