#Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
💬 Do you think Bitcoin will become a new norm for corporate asset allocation? How might this impact Bitcoin’s price? What’s your recent BTC trading strategy? Post to share your price predictions, market analysis, and strategies with us using the topic tag!
🎁 Meanwhile, Gate’s BTC Staking event is in full swing! Simply stake your BTC and earn up to 3% APY. Click the link to start staking and enjoy your earnings: https://ww
The RWA track is heating up, is NEST the prototype of RWAFi+Decentralized Finance?
Written by: ChandlerZ, Foresight News
Since the beginning of this year, the real-world assets (RWA) sector has maintained high activity, with the total on-chain market capitalization surpassing $23.9 billion (excluding stablecoins). In the INVEST section of the RWA.XYZ data platform, in addition to well-known industry portfolios like BUIDL and PAXOS GOLD, Nest, as one of the representative RWA investment strategies within the Plume ecosystem, is gradually gaining market attention.
Nest provides users with a way to deposit stablecoins into the RWA Vault and receive corresponding yield tokens by building a diversified RWA Vault. These Vault underlying assets cover multiple categories such as government bonds, private credit, and energy. The nTOKEN minted by the Vault can be used on-chain in combination with stablecoins and other assets, along with the PLUME token incentive mechanism, forming an innovative model that attempts to connect traditional RWA with Decentralized Finance.
What is NEST?
Nest is a RWA protocol product launched by Plume, belonging to a category that packages real-world assets into on-chain vaults and issues tokens to the public as an "on-chain yield strategy." Overall, Nest resembles a modular fund system built around real assets; Nest itself does not hold user funds, and all funds are directly locked in on-chain smart contracts to ensure the safety and transparency of the funds.
Each Vault corresponds to a set of real assets issued by financial institutions, including U.S. Treasuries, private credit, ETFs, structured debt, etc. These assets are provided by regulated entities and held by custodians, with the asset issuance and management processes subject to compliance audits, and on-chain data is publicly accessible. Unlike some traditional RWA projects that still rely on manual operations or back-office clearing, Nest achieves full on-chain automation, with asset circulation rules and profit distribution encoded in smart contracts, minimizing human intervention to the greatest extent.
In terms of compliance processing, Nest leverages Plume's underlying AML and threat screening mechanisms to eliminate traditional KYC processes, achieving compliant access. Users only need to hold a wallet address to participate, lowering the threshold and broadening the scope of applicability.
The path of fund utilization is direct and transparent. Users deposit stablecoin pUSD into the Vault, and the system instantly mints nTOKENs (such as nALPHA, nETF, etc.) that represent the holdings. These tokens will automatically appreciate as the assets in the Vault generate returns, and can be circulated and used in Plume's DEX or lending protocols, creating a closed-loop ecosystem for on-chain asset liquidity and appreciation.
In short, Nest presents fixed income strategies that were originally only available to institutions in an on-chain manner, allowing ordinary users to obtain on-chain income rights for corresponding assets through stablecoins. The process requires no account opening or manual approval, funds do not go through any platform accounts, and the entire process is executed by smart contracts, ensuring compliance, security, and composability, thereby opening up a more transparent and accessible entry for RWA investments.
Nest's Vault Yield Mechanism
The Vault is a core component of the Nest protocol, essentially an on-chain smart contract pool used to configure real-world assets and automatically allocate returns. After users deposit pUSD, the Vault mints nTOKENs (such as nALPHA, nTBILL, nETF, etc.) that represent the holdings, and their value continues to rise with the cash flows generated by the underlying assets.
Each Vault corresponds to a clear asset allocation strategy, with varying risk and return expectations:
The yield calculation is carried out in real-time on-chain. When assets generate interest or cash inflows, the Vault automatically accounts for the earnings into the total assets, increasing the redemption value of each nTOKEN, allowing users to enjoy the earnings without manual claiming. nTOKEN is a standard ERC-20 token that can be used for lending and trading within the Plume ecosystem, and can also be redeemed, with redemption subject to the corresponding liquidity period.
The annualized return displayed for each Vault is an estimated value (Estimated APY), calculated based on the past performance of the asset portfolio and market data. Actual returns will be affected by market fluctuations, dynamic asset allocation, and other factors. The Nest page also shows the actual return rate over the past 7 days (Current APY) for user reference and assessment.
Liquidity and Risk Considerations of RWA Vault
Unlike traditional DeFi products with instant redemption, there is a time delay for withdrawing funds from the Nest Vault. Some Vaults support same-day redemption, but most redemptions require a wait of 7 to 10 days, depending on the liquidity characteristics of the underlying assets. This feature is not friendly for users who frequently adjust positions or engage in short-term arbitrage.
Due to limited liquidity, investors must bear a certain amount of capital lock-up risk. Nest provides compensation for this risk by issuing PLUME tokens as incentives. Participation in the incentive mechanism also requires the simultaneous locking of Royco tokens; although the returns are high, liquidity and flexibility are restricted.
From the perspective of yield structure, the Vault's revenue comes from real-world stable cash flows, rather than relying on new funds or the appreciation of token prices, which provides strong sustainability. For investors willing to accept the lock-up period and understand the operation rhythm of RWA, Nest offers a clear risk-return structure and a well-designed incentive mechanism for on-chain allocation.
Summary
Nest, as an attempt to combine RWA with DeFi, is exploring feasible paths for on-chain real asset investment. It provides a relatively compliant solution with certain liquidity for the on-chainization of traditional assets, but finding a balance between asset security, liquidity, and yield stability remains a core challenge that this sector needs to continuously tackle in the future. The performance of Nest may offer valuable insights for the deep integration of RWAfi and DeFi, but its maturity and widespread application still need to be tested by the market.