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Get To Know Some Representatives Of RWAs On Bitget

Get To Know Some Representatives Of RWAs On Bitget

2024-04-09 | 10m

This is your pocket guide to RWAs representatives on Bitget.

Bitget Spot Trading Basics

To begin trading RWAs right now on Bitget, all you need to do is create your new Bitget account (if you don't already have one), visit Bitget Spot Trading, and look for the [RWA] category like this:

Get To Know Some Representatives Of RWAs On Bitget image 0

Here's our complete guide on spot trading on Bitget: The Uncensored Guide To Bitget Spot Trading

And these are for anyone who is yet to join our community of 25+ million users: Bitget in a Nutshell | Bitget Beginner’s Guide

Don't Know Which Is Which?

If you're not familiar with RWAs tokens, check out our short intro on RWAs representatives on Bitget as follows:

MKR (Maker)

MakerDAO, with its governance token MKR, stands at the forefront of RWA integration into DeFi. It's a decentralised credit platform on Ethereum that supports DAI, a stablecoin pegged to the US dollar, which is backed by a mix of cryptocurrencies and, more recently, RWAs. MKR holders have the power to vote on crucial decisions, including the addition of RWAs as collateral types. This incorporation of RWAs into MakerDAO's collateral portfolio not only diversifies risks but also showcases the potential for DeFi to parallel traditional finance in terms of asset backing, thereby supporting the DeFi ecosystem's stability and growth.

COMP (Compound)

Compound is a pioneering decentralised finance (DeFi) protocol that enables users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform. COMP , its governance token, plays a vital role in the ecosystem, allowing token holders to propose and vote on changes to the protocol. This includes decisions on integrating RWAs into the platform, potentially transforming how traditional financial assets are accessed and interacted with in the DeFi space. By supporting the inclusion of RWAs, Compound can broaden its appeal and utility, offering a bridge between the digital and traditional financial realms and promoting liquidity and accessibility for a wider range of assets.

PROPS (Props Token)

While PROPS might not directly facilitate the integration of RWAs into DeFi, it embodies a significant aspect of blockchain's promise: democratising value within digital ecosystems. PROPS is a loyalty and rewards token designed for digital platforms to engage users and creators, ensuring value flows back to the community that supports and enriches the network. The ethos of PROPS, rewarding contribution and participation, aligns with the broader vision of RWAs in DeFi, aiming to distribute the benefits of real-world assets more widely and fairly within the digital economy.

ONDO (Ondo Finance)

Ondo Finance is a DeFi protocol that aims to lower the barriers to entry for both traditional finance and decentralised finance markets. The introduction of ONDO, its native token, signifies a step towards a seamless integration of RWAs into the DeFi ecosystem. By providing structured financial products that bridge the gap between fixed income assets and digital currencies, Ondo Finance leverages RWAs to offer diversified risk and yield profiles. This innovative approach encourages traditional investors to explore DeFi opportunities while allowing crypto investors to tap into the tangible value and stability provided by real-world assets.

Full introduction to Ondo Finance is available here: What Is Ondo (ONDO)?

TRU (TrueFi)

TrueFi is a DeFi protocol for uncollateralised lending, allowing lenders to earn interest and TRU token holders to participate in governance and staking. TRU plays a critical role in managing the platform's risk and decision-making processes, including the potential for incorporating RWAs as part of its lending market. By facilitating loans without traditional collateral and exploring the inclusion of RWAs, TrueFi is at the cusp of blending uncollateralised crypto lending with the reliability and familiarity of real-world financial assets, potentially increasing the protocol's attractiveness to a broader spectrum of investors.

GFI (Goldfinch Finance)

Goldfinch Finance is a unique player in the DeFi space, focusing on expanding access to capital without the need for crypto collateral. GFI, its governance token, allows holders to influence the protocol's direction, including its innovative approach to incorporating RWAs. By enabling loans backed by real-world business revenues instead of digital assets, Goldfinch Finance stands as a testament to the versatility and potential of RWAs in DeFi. This model not only democratises access to financing but also opens up new avenues for investment in emerging markets and sectors previously untouched by DeFi.

Full introduction to Goldfinch Finance is available here: Goldfinch (GFI): Unlocking Access to Crypto Credit Without Collateral

PROPC (Propy)

Propy uses blockchain technology to streamline real estate transactions, making them more accessible, transparent, and secure. While PROPC is not a direct facilitator of RWAs in the DeFi ecosystem, it represents an important use case of blockchain's ability to tokenise and manage real-world assets. By enabling the buying, selling, and management of real estate on blockchain, Propy paves the way for these valuable RWAs to be more easily integrated into DeFi platforms in the future, enhancing liquidity and investment opportunities in the real estate sector.

POLYX (Polymath)

Polymath is focused on democratising access to securities by enabling businesses to issue and manage security tokens on the blockchain. POLYX, the native token of the Polymath network, plays a pivotal role in this ecosystem, facilitating transactions, paying fees, and participating in governance. Through its platform, Polymath is directly contributing to the integration of RWAs into the digital world, making it easier for investors to access, trade, and manage security tokens that represent shares in real-world assets. This not only broadens the scope of assets available in the DeFi space but also bridges the gap between traditional securities markets and the burgeoning world of decentralised finance, promising a future where the boundaries between the two are increasingly blurred.

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.