ElectricCapital: 93% of real revenue sources have not yet entered DeFi

Electric Capital's latest research report took stock of 501 real-world sources of income and found that only 34 of them have a chain scale of more than US$50 million, mainly concentrated in U.S. Treasury bonds, private credit and corporate bonds. The remaining 93% are blocked by seven major obstacles, including issues such as legal structure and entity integration.<br /> The report pointed out that the distribution channel is the biggest bottleneck. Among the 35 RWAs that have profits on the chain, only two have more than 2,000 holders and are highly concentrated in head assets. Take BlackRock's BUIDL as an example, the top ten holders control 98% of supply.