Under the background of Trump government's clear regulatory framework for stable currency, RWA🟰YBS， It has nothing to do with STO. Asian capital should abandon the idea of packaging a physical asset (industrial park, new energy) and then issuing equity tokens to cut off a wave of leeks as soon as possible. This paradigm has been falsified in the 2017-2019 cycle, and it is difficult to revive this cycle. The new paradigm of RWA (YBS) innovatively introduces a risk grading structure on the asset side, innovations in middleware include Proof of Reserve and Cross Chain Settlement Network (CCIP/SolverNetwork), and innovations on the liability side (stablecoins) include interest derivatives markets (Pendle, RateX). For YBS protocols like Resolv, everything is now ready except for the momentum of the US stablecoin bill in August, which introduces RWA assets from non US bonds on the asset side, leading to an exponential growth in scale.