rahul rumalla(@rsquare):My take on RWAs and tokenized stocks — the winning market structure must support both open retail/permissionless flows and institutional requirements. Hayden’s correlated-pairs idea is on point because it keeps the market structure(s) programmable and onchain. Critics who are insisting everything must look like traditional systems are essentially advocating to return to the very intermediary-heavy systems crypto set out to challenge, replace and improve. Ideal would be for those systems to be rebuilt with self-custody and open access as defaults.

2026.08.19 09:29

My take on RWAs and tokenized stocks — the winning market structure must support both open retail/permissionless flows and institutional requirements. Hayden’s correlated-pairs idea is on point because it keeps the market structure(s) programmable and onchain. Critics who are insisting everything must look like traditional systems are essentially advocating to return to the very intermediary-heavy systems crypto set out to challenge, replace and improve. Ideal would be for those systems to be rebuilt with self-custody and open access as defaults.