# RWA — X 热门讨论 (2026-09-22 13:45 UTC)

## @Ten1sion (0xTenson 美羊羊桑) · 09-22 13:24 · ♥57 ↻13 💬43 罗宾链没死，只是从狂欢切到下一幕。

上线两个多月，先被 meme 冲上天，再被热度退潮按下去，这是新 L2 的标准剧本。但说“传统券商玩不转链上”，太早。Robinhood 做开放 L2 本身就很拧巴：股票代币、meme、DeFi、RWA 全塞进来，没发治理币绑社区，gas 用 ETH，底层是 Arbitrum Orbit。更像传统金融开门，让链上资金自己进来找事做。热度会退，生态不一定停。

最近中文区重新关注 Tank，方向对。它把 meme 交易税和加油账单硬接在一起：$TANK 每笔链上交易抽 3%，2% 进金库换 ETH，1% 给 Pons。金库先给加油返现，剩余回购销毁。上传小票，审核通过打钱；不持币返 12% USDG，持币返 30%。但还没上线，别急着吹落地，关键看返现、金库余额、成交量和审核摩擦。

它的叙事聪明：多数 meme 税最后都变成分红、销毁、做市、飞轮，离普通人很远；Tank 抓的是油价涨、账单疼这个真实痛点。税一旦能在加油账单上留下影子，就不只是盘内游戏。

罗宾链最大变量，不是有没有官方币，而是传统券商敢不敢长期养这条开放 L2。meme 会先灌流量，接下来看 RWA、股票代币、消费返现能不能接住。Tank 只是切片，且未上线。

别把热度下降写成终局。故事更像开头，不像结尾。产品上线前，先看机制，再看执行：返现能否到账、金库能否被交易量养活、审核会不会成瓶颈。不构成投资建议，DYOR。 > 引用 @tankdotcash: People don’t realise @RobinhoodCrypto ith jutht getting thtarted… https://t.co/rV4m1BQcTb https://x.com/Ten1sion/status/2102388535244509535

## @CazroWeb3 (C A Z R O) · 09-22 13:30 · ♥72 ↻2 💬22 RWA is having a moment, but the interesting part isn’t how much got tokenized.

Total RWA AUM just hit $34.18B, up 85.2% YTD. Bonds and money market funds account for $18.29B, while equities are up 390.4% YTD.

But here’s the part I find more interesting: only around 0.01% of the underlying markets is tokenized so far.

Equities are a good example. $4.43B is on-chain against a $151.9T market. That’s just 0.0029%. @binance Research introduced two metrics to measure what happens next:

↳ PAR, the programmable asset ratio ↳ CAR, the capital activation rate

PAR measures how much of a market is tokenized. CAR measures how much of those tokenized assets are actually being used through lending, liquidity and collateral.

Overall CAR is around 12% right now.

Equities show where things are heading. CAR increased from 1.95% to 7.54% YTD, with 93.5% of the activity coming from liquidity pools and lending.

That’s the shift I’m watching.

The next phase of RWA may not be about tokenizing more assets. It could be about getting more utility from the assets already on-chain.

Binance Research’s 2030 base case puts programmable equities at around $349B. At a 10% CAR, that’s roughly $35B deployed. At 20%, it’s roughly $70B.

Same supply more usage.

That’s what makes the RWA story interesting to me.

Source: Binance Research. https://x.com/CazroWeb3/status/2102390094963658779

## @Team1FR (Avalanche France 🔺) · 09-22 11:45 · ♥43 ↻12 💬12 Le premier RWA Hub d’Aave V4 arrive sur Avalanche :

un marché dédié où les institutions pourront emprunter en collatéralisant des RWA.

Il sera lancé avec USA₮, le stablecoin de Tether adossé au dollar et réglementé au niveau fédéral, comme principale source de liquidité en dollars. > 引用 @aave: Aave V4's first RWA Hub is coming to @avax, a dedicated credit market where institutions can borrow against RWAs.

It will launch with USA₮, Tether's federally regulated, dollar-backed stablecoin, as its primary source of dollar liquidity. https://t.co/lQ60n6bHpQ https://x.com/Team1FR/status/2102363682785136845