In the context of DeFi entering a mature phase, the expansion into Real-World Assets (RWA) has become a central strategy for many protocols. MakerDAO, Ondo Finance, and Maple Finance have all taken initial steps to connect traditional capital with the on-chain world. However, among these big names, @Dolomite stands out as a potential candidate with its own approach, creating a distinct competitive advantage.

1. MakerDAO: The Pioneer but Heavily Governance-Focused

MakerDAO has long been seen as the "leading bird" when integrating RWA into the system to back the DAI stablecoin. They integrate U.S. government bonds, credit assets, and many traditional portfolios. The advantage of MakerDAO is large capital scale and a reputable brand.

However, the limitations lie in:

  • Complex governance structure: Each decision to integrate RWA must go through DAO, causing slow speed and lack of flexibility.

  • Tends towards safe assets (T-bills, bonds): This creates stability but has not fully exploited the diverse potential of RWA such as real estate, IP, or carbon credits.

2. Ondo Finance: Focus on Bridging TradFi ↔ DeFi

Ondo Finance builds a model quite "TradFi-friendly": they tokenize bonds, ETFs, and provide DeFi investors access to traditional investment products. Ondo has advantages in relationships with financial institutions and expertise in securities products.

Disadvantages:

  • Centralized model: Heavily reliant on legal compliance and institutional partners.

  • Limitations in DeFi innovation: Mainly focused on bringing TradFi products onto the blockchain, with little creativity in integrating with lending, yield, or complex strategies.

3. Dolomite: Advantage from Modular and Multi-Dimensional Integration

Compared to MakerDAO and Ondo Finance, #Dolomite has a different approach:

  • Lending & asset management ecosystem: Unlike Ondo, which focuses solely on tokenization, Dolomite places RWA directly into the lending infrastructure – turning them into collateral to borrow stablecoins or participate in on-chain investment strategies. This activates capital flow immediately, rather than just stopping at the "asset listing" step.

  • Flexible modularity: Dolomite is designed to integrate a variety of products – from crypto assets, LP positions, to RWA. Investors can optimize their portfolios by combining traditional and digital assets within the same protocol.

  • Diversification of RWA types: While MakerDAO tends towards bonds, Ondo focuses on securities, Dolomite aims to expand into real estate, carbon credits, and intellectual property rights – areas with long-term growth potential and linked to global ESG trends.

  • Tokenomics synergy: If Dolomite shares revenue from RWA back to token holders, the value of the token will be directly linked to cash flow from real assets. This is a significant advantage compared to centralized models (Ondo) or heavily governance-focused ones (MakerDAO).

4. Position in the Global RWA Landscape

  • MakerDAO: Safe, large scale, but slow and conservative-asset-oriented.

  • Ondo Finance: Suitable for organizations, but less "DeFi native".

  • Dolomite: Flexible, innovative, well-combined between traditional assets and DeFi tools, opening up a more dynamic playground for both individual and institutional investors.

Conclusion

In the "RWA race", each protocol chooses its own path: MakerDAO builds a stable platform, Ondo creates a bridge for organizations, while Dolomite aims for a versatile, modular, and innovative infrastructure where all types of assets – from crypto to real estate, from LP tokens to carbon credits – can become on-chain capital.

This approach of being "DeFi-native but open to TradFi" helps Dolomite not only to follow but also to have the opportunity to lead the new generation of RWA integration waves, where liquidity, efficiency, and capital utilization are elevated to a new level. $DOLO