From the perspective of first principles, the wave of on-chain asset securitization is taking shape. On-chain stocks, as the first phase of experimentation, have already shown some results, but I believe the real breakthrough lies in on-chain equity — this is the core issue that the entire ecosystem aims to solve.

However, the majority of people are more concerned not with these innovations themselves, but with a more practical question: Is the platform reliable? What if it runs away with the funds? This issue hits close to home, so I will prioritize discussing it.

Honestly, this is the watershed that determines whether users will truly get on board. No matter how good the product design is, if the platform behind it lacks security guarantees and credit backing, everything is just empty talk. What we need to look at are: How is the platform’s risk control system? What is the fund escrow plan? Is there third-party auditing? Is the governance mechanism transparent? These hard indicators directly determine whether a platform is worth participating in.

The potential of on-chain equity is vast, but the prerequisite is that users are willing to entrust their assets with confidence. Platform security must be top-notch — it not only concerns individual asset safety but also the confidence foundation of the entire sector. Without this foundation, all innovations will seem hollow.