#证券代币化与RWA Recently, RWA (Real-World Asset Tokenization) has been all over the news. Coinbase's launch of Coinbase Tokenize left me a bit confused—are they really saying that stocks and real estate can be tokenized and put on the blockchain?🤔

This seems completely different from my previous understanding of the crypto world. It feels like exchanges are now engaged in a big battle. Hyperliquid is choosing to be a "low-fee execution layer," while Coinbase aims to be an "all-in-one trading platform," even offering 3.5% annual yield on USDC...

I’d like to ask the veterans here: which of these two approaches is more likely to succeed? Hyperliquid relies on Builder Codes and HIP-3 for decentralized control, whereas Coinbase is building a centralized, one-stop platform. One feels like "building a highway," and the other like "opening a department store."

And regarding RWA—are we too early to get involved, or is this the right time? I saw news saying securities tokenization is the future, but seeing Coinbase directly launch tokenization services makes me a bit nervous... Can anyone help me understand what this means for us small investors?🙈