Today's new project HUMA has borrowed the recently popular concepts of "Payfi" and "RWA", but from the perspective of opening, my willingness to participate is not very strong: 1. The market value is not low, but currently HUMA's product form is more like an ordinary DeFi application; 2. There is only about a month's worth of data on X, with most of it focused on marketing content and insufficient presentation of products, technology, and operational capabilities; 3. Simultaneously launching second tier platforms such as Binance Alpha, Binance Spot, OK, etc. indicates that the industry's resources are good, but high market value requires strong technology and products; 4. The lineup of investment institutions is average. The above is only my personal opinion and is not for reference.