The trillion-level RWA market is fiercely competitive. While Ethereum accounts for over 50% of the market share, the problems it faces are becoming increasingly prominent. Transaction congestion, high Gas fees, and settlement times as long as 3 minutes—these issues make high-frequency trading for institutions very difficult. Projects like Ondo attempt to remedy this by using permissioned validation nodes but fall into the trap of over-reliance on traditional financial institutions, severely weakening decentralization features, and users' transaction data also lack privacy protection.

The industry generally faces a paradox: compliance and privacy seem incompatible, and technological innovation often disconnects from practical application. A project that has been deeply involved in this field for 8 years proposes a different solution—embedding compliance mechanisms natively at the underlying architecture level, rather than patching after the fact.

They adopt a modular design: a separation architecture of settlement layer + execution layer, allowing the settlement layer to achieve native compliance through the Blind Bid protocol, while the execution layer retains privacy protection capabilities. This is not about patching an existing public chain but fundamentally redesigning from the ground up. This differentiated approach breaks the boundaries of industry perception—meeting regulatory requirements while preserving privacy attributes, and ensuring that technology and implementation are no longer disconnected.

Correspondingly, the tokens are becoming core configuration assets in the RWA track, and their value logic is becoming clearer.