#RWA代币化 Seeing DWF Labs working on physical gold tokenization, I have to throw some cold water on it. The test transaction of 25 kilograms of gold bars sounds smooth, but that's exactly when it's easiest to be fooled.

Ten years ago, I was also dazzled by various "breakthrough" projects—like "first successful transaction" or "soon entering a certain market." They all sound impressive. But projects that truly survive never hype themselves during the first test transaction. What should raise suspicion is: the very pace of this kind of promotion.

RWA tokenization sounds promising; putting physical assets on the chain is indeed a direction. But the problem is—who will custody these golds? What is the credibility backing the custodian? How does the gold on the chain correspond to the physical gold? If the project team runs away or the custodian encounters issues, your tokens become worthless.

I've seen too many "revolutionary" asset tokenization projects that ultimately turn into tools for rug pulls. On the surface, they claim to be decentralized, but secretly they still rely on centralized custody and audits. If these links are not transparent, all technological innovations are meaningless.

First, look at their audit reports, fund flows, and regulatory compliance. RWA tracks are indeed hot, but don’t be fooled by the press releases about "first successful transaction." This is the easiest way to get caught in a trap.