With the WLFI of the U.S. President Trump also working on stablecoins, it is essentially part of the RWA narrative. Perhaps you might not understand the RWA narrative (many of my friends see this narrative as having no value). But I believe we should trust the power of the "big shots"; not understanding ≠ the narrative has no value. I firmly believe: if you lack wisdom, you must seek wisdom. And indeed, this is the case; currently, relevant legislation in Europe and the U.S. is in full swing, and leading RWA projects have reached a market value of 10 billion USD. People's imagination about various real-world assets being tokenized is gradually expanding: from stocks and real estate to artworks, crops, and even land, all becoming tangible assets that can be tokenized. However, the industry has not yet formed a broad consensus or a complete infrastructure. In the future, who can become the Binance of the RWA field or the ETH of the public chain field? Personally, I feel that @vsntoken is a strong competitor among them. It is one of the few projects that I believe can take on a leading role, especially in Europe, where it is undoubtedly the "big brother."

🙋What is Vision? Vision is a project launched by Bitpanda that focuses on leading projects in the Web3 ecosystem, concentrating on compliant RWA tokenization and a native Web3 ecological closed loop in Europe. It completely breaks away from traditional business models, not solely relying on spot trading, fiat deposits and withdrawals, or asset management scenarios, but positioning itself as "the first entry point for European users into compliant Web3." $VSN, as its universal Web3 ecological token, anchors the potential of "the next BNB," not only inheriting the compliance licenses and user base of existing businesses but also opening up imaginative possibilities for cross-ecosystem play. You may not be familiar with Bitpanda, as it has done little in the Chinese-speaking market due to some compliance restrictions. However, this exchange is widely used in Europe. Let me directly state its achievements, as it will be easier for everyone to understand this exchange: it is Austria's first unicorn (a company valued at over $1 billion), currently valued at $4 billion, with cumulative financing reaching around $500 million. Currently, its revenue growth rate can reach 100%, and user growth is over 35% annually, indicating that its market share is still in a phase of rapid growth, with great potential.

➡️ Core Analysis I believe that Vision's market positioning is not just as an exchange token, but as a universal Web3 infrastructure, and this narrative is far more valuable than merely being an exchange token. The differences lie in the fact that $VSN has been designed from the beginning with the gene of cross-ecosystem circulation: 1. The initial scenarios are more diverse: starting from established businesses and the Web3 ecosystem, providing a user base and compliance framework. 2. Future expansion expectations are higher: compatible with more external public chains, DeFi protocols, and RWA platforms, with circulation value being boundless. 3. The revenue mechanism is more diversified: not only enjoying basic staking rewards but also sharing multi-ecosystem transaction fee dividends.

👆RWA track leadership: dual efforts in licensing + B-end cooperation In addition to the inherent RWA compliance advantages of the European region, we should also look at how the project maximizes this potential, and Vision has clearly achieved this. 1. In terms of compliance licensing, Vision's backer Bitpanda has secured the MiCA license, allowing business promotion across the 27 EU member states. 2. In terms of cooperation with traditional Web2 major institutions: Bitpanda has established bank-level integrations with Raiffeisenlandesbank, Deutsche Bank, and others. Raiffeisenlandesbank is the largest bank in Austria by market share (42% market share). Deutsche Bank is even more impressive, being a global financial giant with total assets of 11 trillion. Such collaborations with traditional large banks provide the strongest endorsement for Vision's RWA financial business. 3. Technical integration promotes security: To ensure cross-chain security, we collaborate with Chainlink CCIP to achieve secure cross-chain RWA liquidity. 4. Collaborating with traditional sports giants for large-scale adoption: Partnering with world-renowned football clubs AC Milan and Paris Saint-Germain to promote Web3 and reach more users. Based on technology, driven by licensing for compliance, backed by major Web2 financial firms, and with traditional well-known sports partners as potential user sources. I believe that in the future, Vision's user scale should reach tens of millions, with assets starting at a scale of hundreds of billions being more reasonable. Of course, I checked the latest rankings of RWA projects, and Vision has rapidly climbed to the Top 3 RWA projects in just a few months. The above advantages are closely linked to the project's rapid growth.

📊 Earnings and Value Capture: 10.46% APY + Deflationary Mechanism The earnings from $VSN mainly come from two types of staking rewards + transaction fee dividends. This is good news for holders. At the same time, buybacks and burns can drive the continuous growth of the token's value. Holding VSN is like having your cake and eating it too, as you can benefit from the token's price increase (burn expectations) while also earning a decent APY from staking rewards and dividends, which is really appealing. Here, I want to remind everyone that the next quarterly burn plan will start on December 18, and there are now less than 3 months left. I personally feel that this time window is great, as there is a good return in a short cycle.

🆚 Direct comparison with competitors In this comparison, I personally think it should be multi-faceted; we can compare traditional platform tokens as well as benchmark against leading RWA projects, which allows everyone to see the advantages of Vision more intuitively. You can see that VSN has a relatively low market cap, higher staking rewards, and also has a global layout and destruction mechanism. If we want to be one-sided: just benchmark against BNB and shout "the next BNB" wouldn’t be out of the question. Then I will compare it with the currently recognized RWA leader, Ondo. In this comparison, I won't compare market caps, but rather focus on the core product situation. We can see that Vision's user data and scalability are better than Ondo's, and the next RWA leading project is already taking shape, just waiting for an opportunity to soar.

➡️ Personal Thoughts 1. With the expansion of RWA and tightening regulations, Vision will be one of the few projects in Europe that has established a compliant path + cooperative resources + millions of users. In the future, Vision and VSN holders will be the biggest beneficiaries of the continuous evolution of RWA in Europe. 2. Never think it's too late to participate; now is the best time. The RWA narrative is about to take off, and the sustainable growth flywheel of VSN has just started. 3. In the future, perhaps when people mention European RWA, they will think of Vision. Vision = The synonym for compliant RWA in Europe.