Is GPU RWA token meaningful? For an RWA asset, there are two scales that cannot be separated: one is earnings and the other is liquidity. Why is US Treasury always the absolute leader in RWA assets, because its returns are stable and decent, and its liquidity is almost unlimited. What about GPU? Firstly, the revenue from high-end GPUs is very strong. Taking H100 as an example, if long-term contract locking and cheap electricity are used, it only takes 1.5 years to recoup the cost. Considering depreciation, it takes about 2-3 years and is currently the hottest hardware business in the world, even surpassing Bitcoin mining machines at this moment. But what about liquidity? In the past, many GPU RWA tokens have failed one after another, mainly losing in liquidity. Nowadays, the GPU token market is not standardized enough, which greatly affects liquidity. Imagine if Bitcoin were divided into 90% new and 80% new, with 8 mining machines mining together, 512 mining machines mining together, Ethernet mining, or infinite bandwidth mining Waiting for 9981 models, you also have a headache. If you are an investor and the GPU turns into smoke, you can earn a lot of daily profits, but if you need money urgently in the middle and cannot come up with it, it will seriously hinder your enthusiasm to enter. But then again, who will distribute this RWA token to in Cairo. What if Falcon were to release it today? Perhaps there is something different. Falcon has launched a regulated RWA tokenization pipeline in El Salvador to tokenize real-world assets and bring them onto the chain. In other words, assets issued according to this Pipeline are standardized assets. This regulatory framework was previously used by Tether to issue the gold token XAU ₮, and this GPU RWA is Falcon's first project to land under this system. Falcon is the issuer, while NEAR AI acts as the 'anchor buyer' to purchase these computing powers. As is well known, Falcon is backed by a huge liquidity pool, with a USDf of approximately $1.2 billion, and its main collateral is BTC, MerlinBTC, and Lorenzo BTC. And Falcon said that if the liquidity is suitable, this RWA token can be added to the USDf collateral list. Of course, based on past experience, it is highly likely that it is not pledged at a 100% ratio. For example, with ETH as collateral, the Falcon protocol can now mint around 80% of USDf. This means that the huge USDf pool has the potential to become the ultimate fallback solution for these GPU tokens. At the same time, as it is a discounted mint, it will not make these RWA holders lose their minds to exit, and will not transfer all of it to USDf holders. At the same time, it will also increase the yield of USDf and find a balance between liquidity and holders. This may solve the liquidity problem of GPU RWA tokens in the past. Turning it into a regulated asset with good returns and guaranteed liquidity may be a good idea.