Against the backdrop of the ongoing narrative around RWA (Real World Assets), Huma Protocol is gradually gaining market attention. Unlike tokenized asset projects primarily focused on government bonds and notes, Huma focuses on the cash flow credit market, attempting to bring short-term receivables such as wages, invoices, and cross-border settlements on-chain.
According to official data, since its launch, Huma has processed over $3.8 billion in transaction volume. This model essentially standardizes traditional warehouse financing or accounts receivable financing, completing settlements with the help of stablecoins and smart contracts. Funding providers (LPs) obtain returns from actual cash flow interest rather than solely relying on token subsidies.
Huma's partner lineup demonstrates its positioning:
Solana provides high-performance public chain support;
Circle uses USDC as a settlement tool;
Stellar is responsible for network access for cross-border payments;
Galaxy Digital brings capital and resource support.
This combination means that Huma is not just a single RWA application but is attempting to build an on-chain credit layer covering financing, payment, and settlement.
In terms of token incentive design, Huma adopts a phased airdrop mechanism:
Season 0 allocates 5% of the total amount, with 65% directed towards LPs, and the snapshot date is May 18;
Ecosystem partners and the community will receive the remaining share;
Season 2 will airdrop 2.1%, expected to be distributed three months after TGE.
This arrangement not only attracts early liquidity but also leaves room for long-term expansion of the ecosystem.
Unlike most RWA projects that are still at the 'on-chain certificate' stage, Huma has implemented real cash flow applications. For LPs, this means more sustainable returns; for borrowers, it significantly lowers the financing threshold.
Industry analysts believe that Huma is forming a closed loop of 'cash flow → on-chain credit market → global liquidity pool'. If this model can be scaled and replicated, it may become one of the few protocols with infrastructure attributes in the RWA sector.
In the current search for new growth points in DeFi, Huma's experiment offers a new possibility for 'real asset on-chain'.
