There have indeed been quite a few developments recently in the on-chain real-world assets (RWA) space. Not long ago, I saw a project within the Sui ecosystem that introduced some new features. One is a partnership with a large European real estate fund, which has already recorded over 200 million euros worth of commercial real estate assets on-chain for rights confirmation. The other is that their staking mechanism has been upgraded to version 2.0.

This new staking system is quite well-designed. Token holders can share in transaction fees and also gain voting rights for network nodes. It seems the project team is trying to establish a genuine community governance model rather than just relying on token incentives.

From a tokenomics perspective, only about 20% of the total supply is in circulation, leaving plenty of room for growth. But from another angle, if the on-chain asset scale within the ecosystem continues to grow, the scenarios for token consumption will also expand—staking, fee settlement, governance voting—all will generate demand. This is somewhat similar to the logic of early infrastructure projects.

At this stage, for those optimistic about the RWA direction, it’s indeed a good time to observe. Existing investors might consider holding for the medium to long term, and those who haven't entered yet can also pay moderate attention to the subsequent developments of such projects within the ecosystem.