Wrapped up a great week of NYC conferencing thanks to the @TheTieIO - had a blast moderating the panel on "Collateral to Capital: Scaling RWAs Onchain" with the all-star line up of @ThomasCowan93 from @galaxyhq, @grahamfergs from @Securitize, @thomas_fxn from @FunctionBTC, and @Zega_Ryan from @Aptos Takeways 🧵 1/ Private credit is taking the crown for the asset that's going to hit escape velocity - given its yield profile and lower correlation with broader markets make it an ideal asset for reliable, onchain yield sources 2/ Institutional players are much willing to take risk now - worst case scenario for asset issuers, brokers, and settlement counterparties is to be last to the race. We'll see more asset issuers integrate into DeFi rails and experiment with primitives like lending markets and vaults 3/ Asset issuers who want to earn the lions share of early onchain TVL should consider the allocators requirements - think issuance and redemption mechanics, liquidity, custody, and NAV pricing. More transparency / frequency the better. 4/ Synthetic vs native asset issuance --> synthetic might have traction now but serious players will eat the market once they figure out how to get their asset natively issued 5/ Bullish on US regulation --> GENIUS act was a watershed moment for stablecoins, all eyes on rumblings of broker dealer reform that can significantly impact how tokenized securities are distributed