Why @tomwanhh is worth the follow.
If I understand correctly, basically no moat for onchain economic security if there are comparable offchain security practices
BUIDL's supply on Ethereum has dropped from $2.49B to $991M as Ethena/Anchorage migrated 82% of the BUIDL used as USDtb's collateral ($1.5B) to Aptos, Polygon, and Avalanche, each with $500M.
The lesson here:
1. If the RWA can only be held passively, the bar to switch to other networks is relatively low
2. If the wallet is holding only the RWA, investors' consideration of the maturity of the network is not as important, given that RWA has a whitelist function and not everyone can redeem the underlying. At the end of the day, the true backing lies off-chain.
1,982
2
本頁面內容由第三方提供。除非另有說明，OKX 不是所引用文章的作者，也不對此類材料主張任何版權。該內容僅供參考，並不代表 OKX 觀點，不作為任何形式的認可，也不應被視為投資建議或購買或出售數字資產的招攬。在使用生成式人工智能提供摘要或其他信息的情況下，此類人工智能生成的內容可能不準確或不一致。請閱讀鏈接文章，瞭解更多詳情和信息。OKX 不對第三方網站上的內容負責。包含穩定幣、NFTs 等在內的數字資產涉及較高程度的風險，其價值可能會產生較大波動。請根據自身財務狀況，仔細考慮交易或持有數字資產是否適合您。