#RWA市场 Seeing the collaboration between Velo and WLFI, I have a few honest words to say. RWA has indeed become a hot topic, but the problem is—every time a new concept gains popularity, it's the most intense period for cutting leeks.

Integrating USD1 into the Velo ecosystem may seem like an upgrade in stablecoin competition on the surface, and I understand the underlying logic. But we need to be cautious about a few points: First, regulatory stablecoins sound safe but are actually more centralized; the risk isn't gone, just transferred. Second, ecosystem integration sounds impressive, but essentially it's a liquidity issue—if there's no real application scenario to support it, it's just playing with numbers. Third, don't be fooled by the term "strategic partnership"; ask yourself, how active is WLFI's ecosystem right now, and what is the actual usage volume of USD1.

I've seen too many projects hype up their rounds of funding only to end up as vapor coins. The RWA direction isn't wrong, but don't get carried away just because the concept is new. What truly matters is whether these stablecoins can form real trading pairs on-chain, genuinely reduce costs, and serve the real economy—not just technical integration news.

To survive long on the chain, the most important thing is to stay skeptical. When evaluating projects, don't just look at the investors; look at actual trading data and user retention.