
Putting RWAs to work in DeFi
The growth of RWAs has led to over $32 billion of assets flowing onchain.
DeFi is becoming the operating layer for digital asset finance: vaults, lending markets, stablecoins, tokenised collateral, and structured yield products. Castle Labs tracks the infrastructure making that transition real, from Morpho and Aave to the curator model, RWA collateral, and the products that connect offchain capital to onchain execution. The reader question is practical: which systems are becoming durable financial infrastructure, and which are still yield theatre?
key figures as of 2026-08-02 · refreshed daily
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The growth of RWAs has led to over $32 billion of assets flowing onchain.

Mapping the growth of RWAs in DeFi

While most metrics are down across the board, the RWA sector is the only one showing consistent growth, with tokenised stocks among the fastest-growing RWA categories right now.

Vaults are becoming DeFi's default entry point for institutions

From Neobanks to Onchain Banks — research from Castle Labs.

69 Trillion: The Tokenisation Opportunity — research from Castle Labs.

The Fight for Yield is Over: Making DeFi More Accessible — research from Castle Labs.

Castle Labs research on Boros, Pendle’s yield-trading platform for funding rates, covering Yield Units, hedging use cases, vaults, liquidity, and power-user strategies.

DeFi Will Win — research from Castle Labs.

Harmonix Finance: Innovating Yield Generation on HyperEVM and HIP-3 Markets — research from Castle Labs.

OpenEden: On The EDEN Token, Roadmap and Bringing more RWAs Onchain — research from Castle Labs.

Mantle's RWA Push: Over $150k in Builder Prizes in their Global Hackathon — research from Castle Labs.