Here is a link where we at DoDAO have collected information of STEP applicants. We put some effort into this and thought it might be useful to others.
At DoDAO, as builders, we aim to develop in one of the following RWA areas:
Standardizing fund registration/offering to make it easier to transfer assets between holders.
Providing simple and standard ways for onramp and offramp to real-world assets on Arbitrum. Currently every project has their own onramp and offramp process.
Bringing Middle Eastern assets onto the blockchain.
Currently, we are trying to understand the legal aspects, market demand, and challenges.
I would love to discuss with other projects to see how we can increase the usefulness of RWA assets.
Also, please DM me(Telegram - @robinnagpal) if any of the information captured in the Excel is incorrect.
This was just for our own internal use, and I thought of sharing it with others as well.
Thank you for sharing this insightful information. It’s fascinating to see how @DoDAO is paving the way for new opportunities in the DeFi and RWA space. The initiatives to standardize fund registration/offering and simplify the onramp and offramp processes for real-world assets could significantly transform the landscape.
In the DeFi Lending vertical, these efforts hold immense potential. The integration of Middle Eastern assets onto the blockchain could unlock novel lending opportunities and expand the reach of decentralized financial services.
I’m eager to see how this initiative unfolds and how we can collaborate to enhance the utility of RWA assets. Please continue to share updates as you progress in your work. Your dedication to this crucial endeavor is truly appreciated!
Thank you, @thedevanshmehta I think helping projects with AUM is a good Step 1. After this, we should address some common challenges that most RWA projects face. For example:
Providing onboarding/offboarding vendors that help convert USDC/USDT <==> RWAs. Here, Arbitrum can provide some liquidity. Arbitrum might not earn any yield, but it will be able to offer its users a better experience.
Provide a standardized KYC/AML experience to Arbitrum’s users and also work with projects to reduce the minimum investment to approximately $1,000, or at least $10,000. Currently, many projects in STEP require a minimum investment of $100,000 or even $500,000, which restricts participation to institutions.
Encourage integrations and platforms for Perp DEX. Arbitrum can incentivize builders to develop such projects, thereby increasing the utility of RWA projects.
I have a few more ideas that I am still discussing and refining.
Thanks @DoDAO as a lending protocol in this space we recognise all the issues you raised. Whilst these onboarding issues are important for starting to grow TVL, growing it at scale and sustainably requires solving for other challenges. We got some idea and will DM you.
Yeah the other issue is simply demand. How many people in crypto do you know that are seeking 5% yield?
Large DAO treasury is where we begin, with yield earned going to funding operations. Permissionless, yield earning stables are where we go with small users. I would say its a rather difficult space though, given the high costs in setup, legal fees, bankruptcy remoteness, and so many other parameters, with little indication of real, sustained demand at the end of it.
Correct, for example, on D2 Finance ARB++ the best days have been more than 5% gains in a single day. Kek.
I never really got the appeal of a 5% per year product with so many headaches in DeFi.
Anyway, I get that D2 Finance might not fit the RWA requirements since we’re 100% on-chain. However, we thought we would score well because we allow for diversifying the treasury without having to dump ARB, which we thought was supposed to have the biggest weight on delegate consideration.
can pls provide other feedback for D2 Finance application @thedevanshmehta
