RWA's real story isn't T-bills anymore, it's tokenized stocks. Growth's blowing past treasuries, xStocks even put SpaceX on-chain. Treasuries were the entry ticket. Whoever cracks secondary liquidity first eats.
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Distribution beats innovation more often than people realize. The best product doesn't always win. The product that reaches users first usually does
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Most investors focus on narratives. The best investors focus on distribution. A great product without users is a hobby. A mediocre product with distribution becomes a business
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