Put over $100k into Multipli, and considering adding another $200–300k. Crystals already imply a $1.6–5B valuation with only 0.25% supply in circulation. If that math scales with full rollout (rwaUSD + xTokens infra), the upside is massive. APY on stables is already higher than Aave/Ethena, but the real upside is farming Crystals + Orbs (points) to capture early exposure - likely future token allocations from what looks like a multi-billion protocol. Backed by $20M (Pantera, Sequoia, Spartan), they’re fixing DeFi’s trillion-dollar problem: idle tokenized assets with no utility. Their model: - turn ETH, stables, RWAs into yield-bearing assets - consolidate liquidity via rwaUSD (credit-backed, zk-audited stablecoin) - deploy it across Aave, Maple, Pendle, etc. - package hedge-fund strategies into xTokens with on-chain transparency This bridges TradFi and DeFi, unlocking trillions in idle value. By 2035, tokenized assets could hit $30–50T. Multipli is building the yield layer for that world. Add to this the crystal economy math - current price already implies $1.6–5B network valuation with just 0.25% of tokens circulating. So imo market is underpricing the real scale here. I think, this setup offers one of the highest risk-adjusted APYs among reliable protocols ~20–30% once you factor in points.