Something I want to dive deeper into is our optimistic RWA minting feature, allowing MMs to mint instantly based on per block quotes that we provide. Means minters have faster fulfillment and clearer price guarantees. Works especially well for non-volatile assets like thBILL bc

there's nothing to hedge out on the otherside. But the same feature is applicable to volatile assets as well, like commodities and equities. As long as there's a liquid venue we can plug into hedge, we can guarantee quotes, making it easier

for MMs to provide liquidity to these assets. In my eyes, one of the biggest problems with RWAs to date has been the incredibly high amounts of friction involved with simple minting/redeeming. It makes it nearly impossible for anyone to profitably MM these assets, let alone

get over their hurdle rate on capital. If liquidity can't flow seamlessly, RWAs will go nowhere. We're building our entire platform with these design choices in mind. Just one way we're going beyond just issuance :)