RWA · X 热门 · 2026-09-22 09:52 UTC

# RWA — X 热门讨论 (2026-09-22 09:52 UTC)

## @Ucan_Coin (𝖀𝖈𝖆𝖓) · 09-22 09:15 · ♥68 ↻5 💬20 For years, whenever we said projects would build on Ethereum, we heard the same objection:

“Why would projects build on Ethereum? They can just create their own blockchain.”

Today, we can see the answer much more clearly.

Projects are building customized chains for their own needs. But a significant portion of these chains are connecting to Ethereum for security, liquidity, settlement and access to the Ethereum ecosystem.

So building your own chain does not necessarily mean leaving Ethereum behind.

Projects are building their own execution environments while using Ethereum’s security, liquidity and settlement advantages.

This is where I think the bigger story starts.

Ethereum is no longer just a blockchain where applications run.

It is becoming an infrastructure layer for many networks built for different purposes.

A project builds its own chain.

An institution creates its own financial network.

An RWA platform designs its own transaction environment.

But as these networks connect to Ethereum, Ethereum’s economic reach grows too.

And I think this matters for the $ETH price.

Ethereum does not need every application to run directly on Ethereum L1 to create value.

Every new network using Ethereum’s security, liquidity and settlement infrastructure can add more economic activity around Ethereum.

More networks. More users. More capital. More transactions.

And as more of this activity connects to the Ethereum ecosystem, demand for Ethereum’s infrastructure can grow as well.

That means the economic base behind ETH does not have to be limited to activity happening directly on Ethereum L1.

When we look at the ETH price today, it also matters how much of Ethereum’s future role as infrastructure for different economies the market is already pricing in.

Because looking at ETH only through today’s Ethereum activity could mean missing how large this economic space could become.

If Ethereum becomes infrastructure for much more than the economy of a single blockchain, ETH’s valuation potential is not limited to activity on L1 either.

That is why the question I look at for ETH is no longer:

“How many applications are on Ethereum?”

It is:

“How many different economies will use Ethereum’s infrastructure?”

As capital flows into these networks, user numbers grow and economic activity expands, the value around Ethereum can grow too. And if that economic base keeps getting bigger, I think the potential for it to show up in ETH’s economic value and, over the long term, its price gets bigger as well.

Ethereum’s bigger story may not be the growth of a single blockchain.

It may be many different economies connecting to Ethereum.

And as the number of these networks grows, the economic value carried by ETH could reach a scale far beyond what we see today. https://x.com/Ucan_Coin/status/2102325905020313974

## @Haylesdefi (HAYLΞS.eth ➕) · 09-22 09:04 · ♥49 ↻6 💬27 It's funny how most people haven't even heard of @GIWA_by_Upbit yet.

a chain backed by Upbit, whose parent company raised $11.17B.

during info-fi, it was that CEX that was sending coins harder on launch than even Binance.

Now its own L2 testnet is live and only a few are paying attention.

currently;

-> the testnet has processed over 120M+ transactions -> over 30.8M+ testnet addresses created -> Built on the $OP Stack

Here is my watchlist on GIWA;

MY GIWA ECOSYSTEM WATCHLIST 🧵

Here are some of the GIWA projects I’m currently keeping an eye on, grouped by category:

->NFTs

• @Giwatron — GIWA-native NFT project • @elderwoodwiz — Early GIWA NFT collection • @PunkOnGiwa — CryptoPunks-inspired GIWA NFTs • @GIWAUP — GIWA NFT/community project • @jumak_app — Joseon-themed pixel NFT collection • @pabalx — On-chain horse racing/social game • @TileOnGIWA — GIWA NFT collection • @Writ_Fi — Fully collateralized on-chain options protocol

-> Launchpads

• @gasokfun — GIWA meme/token launchpad • @hamrdotfun — One-click meme launchpad • @Kimchifunxyz — GIWA meme/token launchpad • @cookhousememe — GIWA meme launch platform • @Gazuaxyz — GIWA token/meme launch platform • @GIWAForge — GIWA token launchpad • @GiwaPump — Pump-style GIWA launchpad • @memefab_fun — GIWA meme launch platform • @GIWALAUNCHPAD — Token launchpad + AMM • @GiwaGasok — Fast token/meme launchpad • @Lucrari_fi — Token launch + liquidity platform • @JoseonFun — Launchpad + AMM + analytics • @MapaeGiwa — Early GIWA launchpad/meme project

-> DeFi & Infrastructure

• @GIWA_Accordpay — GIWA payments infrastructure • @OsigeExchange — GIWA DEX + trading tools • @AmmoraHQ — Programmable liquidity infrastructure • @Hanok_io — On-chain contribution/rights infrastructure • @kaachi_io — Wallet-based marketing & rewards • @GiwaterFinance — GIWA liquidity/DeFi infrastructure • @heronprotocol — DeFAI capital allocation • @quadrixfinance — On-chain asset management/vaults • @CheomaYield_xyz — GIWA yield/DeFi project • @custosfinance — RWA-focused trading infrastructure • @ZKProofport — Zero-knowledge proof infrastructure

-> AI & OTHERS

• @OreumLabs — On-chain information/curation layer • @umul_giwa — GIWA messaging protocol • @TheBingoFi — GIWA-focused GameFi/bingo project

GIWA is still early, so a lot of these projects are at different stages of development.

I’ll be watching product launches, testnets, liquidity, user activity and ecosystem traction closely. https://x.com/Haylesdefi/status/2102323025001447563

## @RWAFoundation_ (RWA Foundation) · 09-22 08:01 · ♥55 ↻10 💬6 Stablecoin supply growth by issuer, past 24 hours.

@Circle +$53.6M @Ethena +$34.6M @Tether +$26.2M @SkyEcosystem +$23.2M @Polymarket +$7.0M @USDDecentralize +$4.9M @Aster_DEX +$2.2M @Tempo +$2.1M @USDai_Official +$1.1M @CurveFinance +$938.1K

Data via: @tokenterminal. https://t.co/JLDCrTn9Iq https://x.com/RWAFoundation_/status/2102307281236799721

## @RWAFoundation_ (RWA Foundation) · 09-22 08:20 · ♥54 ↻7 💬8 The world is going to be tokenized. 🌍 https://x.com/RWAFoundation_/status/2102312106947494142

## @Elikrypt (ΞLIKRYPTO) · 09-22 08:01 · ♥54 ↻0 💬22 RWA perpetuals are now a 24/7 derivatives market for traditional assets.

Stocks, ETFs, indices, commodities, FX and even pre-IPO names can trade as perps without owning the underlying asset.

USDC/USDT provides margin, while oracle infrastructure keeps the perp tied to the underlying price.

$3.16T tracked volume

Dec. 29, 2025 → Aug. 31, 2026

August alone → $799.5B, a new monthly record.

Pyth’s August dataset:

↳ Equities — $487.3B | 64.8% ↳ Commodities — $152.3B | 20.3% ↳ Indices — $103.9B | 13.8% ↳ FX — $8.3B | 1.1%

Stocks went from 9% of January volume → 62.3% in August, while commodities fell from 81% → 18.8%.

Venue concentration

▸ @binance — $1.592T | 50.4% ▸ @HyperliquidX — $542.8B | 17.2% ▸ @okx — $345.1B | 10.9% ▸ @Bitget — $238.2B | 7.5%

≈86% of tracked volume sits across these four venues.

The remaining ~14% is spread across:

These figures come from CMC’s 19-venue dataset through Aug. 31.

For traders, venue quality comes down to OI, depth, funding, execution and liquidation liquidity.

Onchain RWA perps

DeFiLlama currently tracks roughly $5.21B OI, $6.17B 24h volume and 1,022 markets across its RWA perp coverage, excluding CEXs.

@tradexyz currently leads the onchain snapshot:

$3.85B OI | 89 markets | $2.42B 24h volume

Other active venues include Variational, QFEX, GMTrade, Lighter, Ondo, @OstiumLabs and Extended.

Infrastructure is expanding

@Deribit offers RWA perps across equities, ETFs, commodities and pre-IPO contracts, settled in USDC.

RWAperp launched on @okx X Layer with SK Hynix, Samsung Electronics, SanDisk, Micron, Intel and a DRAM index, settled in USDG.

Hyperliquid HIP-3 lets independent builders launch perp markets while using Hyperliquid’s matching, margin and liquidation infrastructure.

HIP-3 volume grew from $12.65B in Q4 2025 → $130.87B in Q1 2026.

The xyz deployer accounted for roughly 99.6–99.8% of August HIP-3 volume in CMC’s dataset.

Oracle risk is now a core market risk

RWA perps keep trading while the underlying market is closed.

That creates exposure to pre-market prints, earnings, halts, corporate actions and weekend price gaps.

Pyth says its feeds priced 96.27% of the volume in its tracked August RWA perp book.

The remaining 3.73% was attributed to other providers or remained unverified within that dataset. That figure is Pyth’s share of its tracked book, not 96.27% of the entire RWA perp market.

The SK Hynix incident showed the consequence.

A faulty pre-market print triggered roughly $57M in liquidations across 960 accounts.

The RWA perp stack:

Oracle → Liquidity → Margin → Funding → OI limits → Liquidation

The volume is already here.

Now the infrastructure has to handle 24/7 trading, market closures, corporate actions and volatility without breaking. https://x.com/Elikrypt/status/2102307281534697845

## @RWAFoundation_ (RWA Foundation) · 09-22 08:11 · ♥51 ↻8 💬7 Tokenization will melt faces. https://x.com/RWAFoundation_/status/2102309849627295763

## @quang250802 (Quang) · 09-22 07:00 · ♥53 ↻1 💬18 memecoins for insiders only 99.99% of NFTs are scam 😭😭

time to farm projects instead waste money!

new waitlist access worth tracking:

1. @LaunchOnBliss - launchpad on robinhood, xperimenting with programmable creator-fee flows https://t.co/w5nZr1SQGC

2. @jumperapp - becoming the consumer capital-allocation layer on top of https://t.co/CZ3GTUfBze's $52M-backed cross-chain liquidity infrastructure. https://t.co/6lfqFKr3aC

3. @SmartXTerminal - AI x Social Trading raised $500k by yzilabs https://t.co/zvgBYJ3AWz

4. @papertrade_xyz - HyperEVM experiment where trader losses become the protocol's fuel, built by a former institutional quant rather than the usual anonymous perp-DEX team. https://t.co/a2ZYRanMBA

5. @MeridianCapDAO - by @lordpemby strongest signal right now is the cluster of crypto insiders discovering it before any token exists. https://t.co/TKXba020YS

6. @nuance_ai - building an emotion-aware foundation model for human-like AI interaction, backed by $60M from Lightspeed, Accel and NVIDIA https://t.co/8J69bqwjpV

7. @AgemicaCom - AI-native longevity biotech that just bridged into Robinhood Chain https://t.co/8lAhDc4lRp

8. @ParcelRWA - RWA access play where the first product is actually the distribution mechanism https://t.co/oXSEkNarnJ

9. @DirolLabsX - trading platform on monad https://t.co/udfDm93ANI

10. @derpetual - perp dex, Abstract Markets team public and project backed by Thiel Fellowship https://t.co/JLv52nA1rX

join early, do your own research, and don't blindly ape! https://x.com/quang250802/status/2102291814237782504