Soren | We’re Hiring ◼️

Intern @PrincipiaLabs_ Prev: @Bybit_Official @Binance
Research and investment banking for onchain economy.

[Soren | We’re Hiring ◼️ @Soren_Principia]

@SophieWeb3 @hourbagegi42209 @fugui8 @Haiteng_okx @TC8880 @PhyrexNi @BryantAi2049 @Jtsong2 @HerbertRSim @Rhea0xWeb3 @Irenezhao_ @AirdropAlchemis @LeslieLi92210 老师 我被卷死了

[Soren | We’re Hiring ◼️ @Soren_Principia]

@veleria_ai @MiuroAI 加油我的姐

[Principia Labs @PrincipiaLabs_]

Real World Assets is Principia Labs' data terminal for tokenized assets. It starts from the real world, not from the chain: the world's largest assets, ranked by what they are actually worth, each answering three questions — how much of it has moved onchain, where it trades, and how actively.

The state of play, in one number

As of October 7, 2026, the 20 largest assets in the world are worth $71 trillion. Onchain, they add up to $6 billion. That is 0.008%. This is where the largest financial migration in history begins.

What you can see

◼️Penetration: real-world market cap, onchain market cap, and share tokenized, for every asset.
◼️Trading structure: spot volume, turnover, derivatives volume, and perpetual open interest. Onchain derivatives trade at 16× spot — that is what RWA trading actually looks like.
◼️Cross-market comparison: onchain derivatives volume measured against the real share's own trading volume, on the same scale.
◼️Fragmentation: how many token versions each asset has, how many venues it trades on, and how much of it sits in DeFi pools and lending markets.
◼️History: tokenized market cap, value in DeFi, and the number of assets with a live token. Daily back to each token's first day; hourly for the past week.

7,104 assets across stocks, ETFs and commodities: every asset that has a token, plus the 7,000 largest in the world. 531 of them have live tokens today.

[Principia Labs @PrincipiaLabs_]

Introducing RWA Dashboard produced by Principia Labs ◼️

The world's largest assets are moving onchain.

Commodities, stocks, Treasuries, ETFs, FX. $7.7B of real-world assets already tokenized, with 700+ tokens trading live onchain.

We built a product to make sense of it:

◼️ 4,000+ assets, ranked by real-world market cap — not by who got tokenized first
◼️ One asset, every tokenized version of it, every liquidity pool, and where it's used in DeFi
◼️ Every number updates in real time
Real World Assets, by Principia Labs

https://t.co/C3rje0m135

[Soren | We’re Hiring ◼️ @Soren_Principia]

Awesome and insightful datahub for RWA ◼️◼️◼️

[Principia Labs @PrincipiaLabs_]

The most tokenized stock in the world right now isn't Nvidia or Tesla. It's $BNC.

We track 794 real-world assets that have a token among over 4000+ real world assets, and rank each by how much of the real thing has moved onchain:

1. BNC (BNB Standard Corp): 12.73%
2. AGPU: 1.81%
3. Circle: 1.64%
MSTR: 0.40% · Gold: 0.017%

$31.9M of a $250.7M company is onchain, all in one token: BNCB, issued through @binance bStocks on @BNBCHAIN. It was $13.1M on Sep 15. Three weeks later it is $31.9M.

And it trades. The token did $22.6M of spot volume in 24h (exchange-reported, $15.7M of it on PancakeSwap), against $4.4M for the stock in its last full Nasdaq session. It sits 0.25% from the real share price.

The company that holds the largest corporate BNB treasury is also the only listed company in our data with a double-digit share of itself onchain.

Data from Real World Assets by Principia Labs: the world's largest assets ranked by real market cap, with how much of each is tokenized, where it trades, and where it sits in DeFi. @cz_binance @heyibinance

Exploring more here: https://t.co/C3rje0m135

[jiayi 加一 @mscryptojiayi]

钱投了，技术也实现了，我为什么还是关掉了做了一半��� AI 英语学习平台？

这个项目叫 Langcat。配图里那只蓝色的小猫。

做它的起点很简单：我当时想要学习英文，却没有可以解决我需求的产品。

我一直在学英语，工作里也经常需要用。但工作忙、时间碎，学什么、怎么练、什么时候复习，都需要自己安排。

我希望有一个 AI 英语���教：了解我的英文水平，记得我的问题，根据我的日常习惯和实际使用英语的场景，调整学习内容和方法。

比如，我需要用英语跟客户开会，那就多练我真正会用到的表达。学过的东西，根据我的遗忘情况安排复习，该提醒的时候提醒，该换一种方式教的时候换一种方式，一直带着我练到真正掌握。

我们为这件事做了很多具体的工作。

把英语学习拆成不同阶段，细化每个阶段的能力要求、学习内容和课程关系，再把这些放进产品架构里。根据用户的英语能力匹配内容、定制学习方法，技术上也已经实现了。

所以，对技术能不能做出来，我非常有信心。

但最后，我们还是停了。

因为我看到了两个很难绕过去的问题：你可能还没���回获客成本，正在做的东西就已经被其他平台覆盖了。

———🥹🥹🥹——————-
这也是大多数创业者困局

先说获客。

按照我们当时对成熟付费投放渠道的测算，获取一个付费用户的成本，可能要用这个用户未来两年到两年半贡献的利润才能覆盖。而流量成本以后只会增不会降

注意，是利润，不是订阅收入。用户付的钱，还要扣掉服务他的成本，剩下的部分才能慢慢把获客的钱赚回来。

这意味着，你花钱，好不容易找来一个付费用户。如果他在回本之前取消订阅，这笔获客投入就可能亏了。研发、团队等其他投入等等

当然，可以找一个小切口，做出有特色的产品，靠一波内容或营销获得增长。

但一次火了，和持续、规模化地获得付费用户，之间还有很远距离。或者说，从数据来说不靠一级资本的堆积基本没有规模化能力。

————👇👇👇———-

更让我犹豫的是：即使熬过获客这一关，你还要面对第二个问题。

覆盖你的，可能根本不是另一家英语学习公司。因为你得力于AI时代的技术效率，而通用大模型自身就是超级APP逐步地宣判一个又一个领域死亡💀

当 ChatGPT 的语音交互能力不断升级，我们花时间打磨的一部分体验，可能随着它的一次更新，就出现在用户已经付过钱的订阅里。

用户为什么还需要专门来我们这里？

以前，一个人想学英语，会去找一个英语学习 App。

以后，他可能直接打开自己每天都在用的 AI，说：“我有20分钟时间，你跟你我的喜好给我���定英文课程。”（毕竟你的ai了解你的水平你的工作生活场景还帮你考试做过痹。没有人比ai更了解你的半斤八两）

你不用再下载一个应用，不用重新熟悉一个平台，也未必需要多付一份订阅。

英语学习的需求还在，满足需求的入口却变了。

大模型公司既提供底层能力，也直接拥有用户。它们可以不断增加使用场景：写邮件、做研究、练英语、处理工作，P图做视频写作业……

它们就是AI时代的超级 App。一手to b给创应用的公司使用，一手to c直接根据用户的提问了解市场需求把创业公司饭碗顺便给端了。🤪

而且，支撑这些通用模型迭代的，是巨额资本和全球顶尖的人才。一个小团队如果把主要优势押在某项通用能力暂时做得更好上，我很难有信心，认为我们可以长期保持领先。

——-🫅🫅🫅—————-

这里真正让我担心的，是两个时间叠在了一起：

你可能需要两年多，才能赚回一个用户的获客成本。但你能让他单独付费的差异，能不能保持两年多？

这笔账，我越想越难乐观。

市场当然不会马上消失。仍然会有用户不熟悉通用 AI，更喜欢打开一个专门的学习产品，按安排好的路径往下走。专业教学也仍然有继续做深的价值。

但如果用户选择你的主要理由，只是“他还不会用另一种工具”，我会担心，这部分优势会随着使用习惯的普及逐渐缩小。

剩下能持续收费的垂直需求，大家又会挤进去竞争。

所以，短期内，我对很多依靠通用模型能力差异的应用类创业，偏悲观。

Langcat的失败让我意识到：技术确实能让我们更高效地满足需求，但这不自动意味着，我们能围绕这个需求建立一门有吸引力的独立生���。

———-🤓🤓🤓🤓———-
创业失败后收获的价值

现在看垂直 AI 创业项目，我只会思考两个问题。

第一，如果通用模型下一版就更新了你的核心功能，而且更便宜、更好用，用户还有什么理由留在你的平台，继续为你付费？

第二，在它更新之前，你能积累下什么资产？

是持续有效的获客渠道，是有权使用、能改善结果的独有数据，是已经深入客户业务的关系，还是能够验证的交付效果？

最后，及时止损，有时候也是赚到😂

[Soren | We’re Hiring ◼️ @Soren_Principia]

@ellazhang516 What a moment !

[Soren | We’re Hiring ◼️ @Soren_Principia]

Looking forward to see you , guys

[Principia Labs @PrincipiaLabs_]

Heading to Singapore for #TOKEN2049? Come hang out with us.

AI & Emerging Onchain Assets
Value, Real-World Assets & Liquidity
🗓 October 8, 13:30–17:30 SGT

Hosted by @BixinVentures and organized by @PrincipiaLabs_

Join founders, builders, investors, and the community to talk AI, emerging onchain assets, RWAs, and liquidity.

Co-hosts: @TokenInsight @aveai_info @InterlaceMoney @AlchemyPay @AEON_Community @MiuroAI

Sponsors: @Pumpfun @Stable @tencentcloud @TadaPay_ai @awscloud @Beosin_com @ELLIPAL

Community & media partners: @token2049 @HackQuest_ @ForesightNewsEN @Cryptic_Web3 @PANewsCN @OdailyChina @TechFlowPost @BlockTempo @BlockBeatsAsia @ChainCatcher_

Thank you all for the support!

[Soren | We’re Hiring ◼️ @Soren_Principia]

Which is inevitable , stablecoins will be the settlement tool across different cultures and regions

[CoinDesk @CoinDesk]

JUST IN: @MorganStanley sets up a Digital Asset Lab to test stablecoins, tokenization and DeFi applications, giving employees a dedicated facility to explore blockchain technology without risk to the bank's core systems.

[Soren | We’re Hiring ◼️ @Soren_Principia]

@MiuroAI @BixinVentures @PrincipiaLabs_ @aveai_info @TokenInsight Lets gooooo！

[Berachain Korea | 베라체인 코리아 @BerachainKorea]

베라체인 @ KBW 2026

베라체인의 새로운 챕터를 금일 The Bridge Summit에서 만나보세요!

[Soren | We’re Hiring ◼️ @Soren_Principia]

Have you filtered the dirty data points ? @Blockworks

[Soren | We’re Hiring ◼️ @Soren_Principia]

@SophieWeb3 加油冲

[Soren | We’re Hiring ◼️ @Soren_Principia]

Awesome research team !!!

[Principia Labs @PrincipiaLabs_]

Every new listing. Six major exchanges. One real-time terminal.

Introducing ListScope by Principia Labs 👇

◼️ Listing Database: every listing event, searchable in one place
◼️ Listing Cadence: how often each exchange lists, and when
◼️ Exchange Comparison: how venues stack up side by side
◼️ ROI Performance: how tokens actually trade after listing
◼️ Liquidity Quality & Share: real depth vs. inflated volume
◼️ Transfer Track: follow token flows around listings
◼️ Alpha Pipeline: which Binance Alpha tokens make it to Futures and Spot

[Soren | We’re Hiring ◼️ @Soren_Principia]

@PrincipiaLabs_ How Binance 🔶 will exchange the world through onchain IPO?

[Soren | We’re Hiring ◼️ @Soren_Principia]

@cz_binance @heyibinance @bstocksfinance @sisibinance @binancezh @_RichardTeng @BinanceResearch @Binance_intern @BinanceAcademy

[Soren | We’re Hiring ◼️ @Soren_Principia]

How Binance will Exchange the World ? @cz_binance @heyibinance @bstocksfinance @sisibinance @binancezh @_RichardTeng

[Principia Labs @PrincipiaLabs_]

https://t.co/gVh7qBbpbG

[Soren | We’re Hiring ◼️ @Soren_Principia]

@drjingle 老师想邀请你来Token2049 Side Event 。私信不了 我的tg soren_principia

[Soren | We’re Hiring ◼️ @Soren_Principia]

@YuchenZhu18 谢谢老板

[Soren | We’re Hiring ◼️ @Soren_Principia]

The latest report for Hyperliquid ◼️◼️◼️

[Principia Labs @PrincipiaLabs_]

https://t.co/LrXfUP6iaC