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HTX Ventures Latest Report | RWA Perps: A New Frontier in the On-Chain Expansion of Global Financial Markets
HTX Ventures Latest Report | RWA Perps: A New Frontier in the On-Chain Expansion of Global Financial Markets

Foreword

RWA Perps are not simply another attempt by the crypto world to mimic traditional finance; they represent an important step in on-chain finance’s shift from “asset-on-chain” to “risk-on-chain.” By embedding the price fluctuations of global macro assets—such as gold, crude oil, U.S. equities, and indices—on-chain 24/7 in the form of perpetual contracts, the “financial Lego” stack of oracles, leverage, and liquidation engines directly assumes the pricing function. Its essence is a shift in the coordinate system: users are no longer trading asset ownership, but rather global macro volatility.

Jun 15, 202643 min read