On February 9, 2025, "The Realized Summit," hosted by 499 and co-hosted by Pharos Network and RedStone, was successfully held at Soho House, Hong Kong. As one of the flagship side events during Consensus Hong Kong, the summit gathered industry leaders from top global institutions including Bitget, Sei Labs, Animoca Brands, HashKey, and Spartan, attracting over 2,300 registered attendees.
Centering on the theme "Realized," the summit delved deep into Real-World Assets (RWA), PayFi, and open innovation at the intersection of AI and Web3. The event aimed to bridge the gap between infrastructure and mass adoption, sketching a tangible blueprint for the next generation of on-chain finance.
Below are the highlights and core insights from the summit.
Speaker: Wish Wu, CEO & Co-Founder, Pharos Network
As a co-host of the summit, Pharos Network CEO Wish Wu delivered the opening keynote titled "Designing the Financial Layer 1 for Trillions Onchain."
Wish pointed out that despite years of development, the blockchain industry still faces significant bottlenecks in onboarding massive assets from Traditional Finance (TradFi). "We have currently only touched 5% of global assets. The huge gap lies in infrastructure that is not yet ready to handle 'credit' and 'scale'."
He detailed Pharos' solution—a real-time data generation model and financial-grade blockchain designed specifically for RWA.
Extreme Performance: The Pharos Testnet has achieved 20,000 TPS in parallel computing capability and realized sub-1-second finality at the consensus layer, meeting the demands of high-frequency financial trading.
Dual-VM Design: It maintains compatibility with EVM while supporting C++, a language commonly used by traditional financial institutions, thereby lowering the barrier to entry.
Trustless Internet of Assets: Pharos is committed to building a permissionless yet compliant network for asset interconnection. Through deep cooperation with institutions like HackVC, it aims to bring hundreds of millions of real users and assets on-chain.
Speakers: Jay Jog (Sei Labs Co-Founder), Nenter Chow (BitMart Global CEO)
With the high-performance public chain sector becoming increasingly crowded, Jay Jog from Sei Labs and Nenter Chow from BitMart discussed competitive barriers "beyond speed."
Developer Experience is Everything: Jay Jog emphasized that for end-users, TPS numbers are invisible; they only care about application smoothness. Therefore, the essence of public chain competition is the battle for developers. Whoever can provide better tools and lower barriers will incubate killer apps.
Sustainable Growth: Nenter noted that liquidity driven solely by token incentives is often "mercenary capital." True sustainable growth comes from Product-Market Fit (PMF)—where users stay because the product is useful, not just for airdrops.
Speaker: Mike Massari, Strategic Advisor, RedStone
RedStone Strategic Advisor Mike Massari shared insights on how Credora (acquired by RedStone) is reshaping the DeFi landscape through credit ratings.
DeFi’s "S&P Moment": TradFi relies heavily on credit ratings (like S&P), an infrastructure long missing in DeFi. Credora introduces an A-to-D rating system, providing transparent risk assessments for on-chain lending markets, stablecoins, and RWAs.
Dynamic Ratings: Unlike TradFi ratings which update every few months, DeFi ratings must be real-time. RedStone utilizes oracle technology to monitor on-chain collateralization, liquidity, and market volatility in real-time, providing dynamic risk parameters for protocols like Morpho and Spark, allowing institutional capital to enter DeFi with confidence.
Moderator: Ember (Aster)
Panelists: Kun Peng (BBF), Chi Zhang (Kite AI), Jessica Cao (Huma), Rica Fu (Better Payment), Delane Foo (Nethermind)
This panel focused on how AI Agents and PayFi are reshaping capital flow.
Financial Needs of AI Agents: Chi Zhang from Kite AI proposed an intriguing view: "Future financial systems should be Machine-Native." While credit cards are natural for humans, they are hurdles for AI Agents due to cumbersome KYC and verification. Crypto and smart contracts are the optimal carriers for value exchange between AI agents.
Real-World PayFi: Rica Fu from B
etter Payment shared use cases in emerging markets (like LatAm and Africa), where numerous SMEs (EV dealers, e-commerce sellers) are using stablecoins for cross-border settlement—this is not speculation, but a necessity.
Narrative Convergence: Jessica Cao from Huma Finance believes RWA isn't just about putting treasury bills on-chain, but more importantly, about solving real-world liquidity gaps through on-chain credit networks (PayFi).
Speakers: Gracy Chen (Bitget CEO), Casper (Spartan Partner)
Bitget CEO Gracy Chen outlined the vision for a "Universal Exchange" during the dialogue.
All-in-One Trading Platform: Exchanges are no longer limited to crypto assets. Bitget is working to integrate CEX, DEX, and RWA. Through a compliant framework, users will be able to trade tokenized US stocks (like Tesla, Nvidia) and gold directly on the platform, achieving one-stop asset allocation.
AI-Empowered Operations: Gracy revealed that over 22 departments within Bitget are deeply applying AI, ranging from KYC review and multilingual customer support to code generation, significantly improving operational efficiency.
The Future of RWA: Although RWA currently accounts for a small percentage of the total crypto market cap, as compliant channels open up—especially with Asian market demand for stable yields like US Treasuries—RWA will become a key stabilizer for exchanges against bull and bear cycles.
Speaker: Jonathan Llamas, Chief Product & Strategy Officer, SEALCOIN
SEALCOIN introduced the concept of Tokenization 2.0, centered on physical device identity authentication and value exchange.
Putting Physical Trust On-Chain: Tokenization 1.0 often relied on the credit of centralized custodians. In the 2.0 era, SEALCOIN injects Identity at the semiconductor chip level, allowing physical devices (sensors, machines, satellites) to directly generate verifiable data and sign transactions.
Machine Economy: This architecture provides the foundational trust for DePIN (Decentralized Physical Infrastructure Networks) and AI Agents. Jonathan also demonstrated a live "Space Drop," showcasing the infinite possibilities of combining the physical world with blockchain through interaction with on-orbit satellites.
Moderator: Leon (Venus)
Panelists: David Ching (Animoca), Anthony Moro (NUVA), Jerry Li (TermMax), Lisa Wade (Fableration)
From Mercenaries to Regulars: David Ching from Animoca pointed out that current on-chain capital is mostly "mercenary," chasing short-term high APY. To attract Sticky Capital, a sustainable Fixed Income market must be built.
Institutional Demand: Jerry Li from TermMax emphasized that institutional investors need certainty. Unlike the floating rates of DeFi, Fixed Income products are the bridge connecting TradFi capital to the crypto world.
Commodities On-Chain: The panelists also discussed bringing commodities like gold and even carbon credits on-chain via RWA to provide a richer variety of collateral for DeFi.
Speaker: Christie Lee, Strategic Advisor, Rewardy Wallet
Christie Lee from Rewardy Wallet provided a deep dive into Korea’s unique Web3 market culture.
Culture, Not Just Assets: In Korea, Crypto is not just a financial asset but a cultural phenomenon. Korean users react extremely fast to new trends and have high mobile internet penetration.
Gamified Finance: Rewardy’s success demonstrates that "Earn while doing" models (walking, watching videos, socializing) can effectively convert Web2 users into Web3 users.
Adoption > Speculation: True adoption isn't about hyping token prices, but making crypto wallets a part of users' daily digital lives, such as spending at convenience stores or exchanging for digital goods.
Moderator: Yuxin (APRO Oracle)
Panelists: Marcin (RedStone), Andy Lee (HashKey), Michael (Brevis), Brandon (Dinari), Bridget (Asseto)
The final panel explored the "last mile" problems of RWA implementation.
Data Reliability: Marcin from RedStone reiterated that the core challenge of RWA lies in the authenticity of off-chain data. Without reliable oracles and verification mechanisms, RWA becomes "Garbage In, Garbage Out."
Compliance is Prerequisite: Andy Lee from HashKey shared progress on RWA compliance in Hong Kong. He believes that only within a regulatory framework can RWAs be truly distributed to the masses through banks and large financial institutions.
Brevis’ ZK Solution: Michael mentioned that using Zero-Knowledge Proof (ZK Coprocessor) technology allows for the verification of off-chain asset data and computation results without compromising privacy, which is crucial for institutional protection.
"The Realized Summit" was not just a feast of technology, but a collective calibration of the industry's direction. From Pharos' financial-grade public chain to the tokenization of underlying assets (SEALCOIN), and from Bitget’s universal trading vision to RedStone’s risk control infrastructure, a clear trend is emerging:
Crypto is shedding its "Wild West" image and, through the combination of RWA, PayFi, and AI, is gradually evolving into an efficient financial network capable of carrying real-world value. As the summit theme suggests, we are moving from "concept" to "Realized."
Host: 499
Co-Hosts: Pharos Network, RedStone
Special Thanks: Animoca Brands, Hetu, and all partners.
On February 9, 2025, "The Realized Summit," hosted by 499 and co-hosted by Pharos Network and RedStone, was successfully held at Soho House, Hong Kong. As one of the flagship side events during Consensus Hong Kong, the summit gathered industry leaders from top global institutions including Bitget, Sei Labs, Animoca Brands, HashKey, and Spartan, attracting over 2,300 registered attendees.
Centering on the theme "Realized," the summit delved deep into Real-World Assets (RWA), PayFi, and open innovation at the intersection of AI and Web3. The event aimed to bridge the gap between infrastructure and mass adoption, sketching a tangible blueprint for the next generation of on-chain finance.
Below are the highlights and core insights from the summit.
Speaker: Wish Wu, CEO & Co-Founder, Pharos Network
As a co-host of the summit, Pharos Network CEO Wish Wu delivered the opening keynote titled "Designing the Financial Layer 1 for Trillions Onchain."
Wish pointed out that despite years of development, the blockchain industry still faces significant bottlenecks in onboarding massive assets from Traditional Finance (TradFi). "We have currently only touched 5% of global assets. The huge gap lies in infrastructure that is not yet ready to handle 'credit' and 'scale'."
He detailed Pharos' solution—a real-time data generation model and financial-grade blockchain designed specifically for RWA.
Extreme Performance: The Pharos Testnet has achieved 20,000 TPS in parallel computing capability and realized sub-1-second finality at the consensus layer, meeting the demands of high-frequency financial trading.
Dual-VM Design: It maintains compatibility with EVM while supporting C++, a language commonly used by traditional financial institutions, thereby lowering the barrier to entry.
Trustless Internet of Assets: Pharos is committed to building a permissionless yet compliant network for asset interconnection. Through deep cooperation with institutions like HackVC, it aims to bring hundreds of millions of real users and assets on-chain.
Speakers: Jay Jog (Sei Labs Co-Founder), Nenter Chow (BitMart Global CEO)
With the high-performance public chain sector becoming increasingly crowded, Jay Jog from Sei Labs and Nenter Chow from BitMart discussed competitive barriers "beyond speed."
Developer Experience is Everything: Jay Jog emphasized that for end-users, TPS numbers are invisible; they only care about application smoothness. Therefore, the essence of public chain competition is the battle for developers. Whoever can provide better tools and lower barriers will incubate killer apps.
Sustainable Growth: Nenter noted that liquidity driven solely by token incentives is often "mercenary capital." True sustainable growth comes from Product-Market Fit (PMF)—where users stay because the product is useful, not just for airdrops.
Speaker: Mike Massari, Strategic Advisor, RedStone
RedStone Strategic Advisor Mike Massari shared insights on how Credora (acquired by RedStone) is reshaping the DeFi landscape through credit ratings.
DeFi’s "S&P Moment": TradFi relies heavily on credit ratings (like S&P), an infrastructure long missing in DeFi. Credora introduces an A-to-D rating system, providing transparent risk assessments for on-chain lending markets, stablecoins, and RWAs.
Dynamic Ratings: Unlike TradFi ratings which update every few months, DeFi ratings must be real-time. RedStone utilizes oracle technology to monitor on-chain collateralization, liquidity, and market volatility in real-time, providing dynamic risk parameters for protocols like Morpho and Spark, allowing institutional capital to enter DeFi with confidence.
Moderator: Ember (Aster)
Panelists: Kun Peng (BBF), Chi Zhang (Kite AI), Jessica Cao (Huma), Rica Fu (Better Payment), Delane Foo (Nethermind)
This panel focused on how AI Agents and PayFi are reshaping capital flow.
Financial Needs of AI Agents: Chi Zhang from Kite AI proposed an intriguing view: "Future financial systems should be Machine-Native." While credit cards are natural for humans, they are hurdles for AI Agents due to cumbersome KYC and verification. Crypto and smart contracts are the optimal carriers for value exchange between AI agents.
Real-World PayFi: Rica Fu from B
etter Payment shared use cases in emerging markets (like LatAm and Africa), where numerous SMEs (EV dealers, e-commerce sellers) are using stablecoins for cross-border settlement—this is not speculation, but a necessity.
Narrative Convergence: Jessica Cao from Huma Finance believes RWA isn't just about putting treasury bills on-chain, but more importantly, about solving real-world liquidity gaps through on-chain credit networks (PayFi).
Speakers: Gracy Chen (Bitget CEO), Casper (Spartan Partner)
Bitget CEO Gracy Chen outlined the vision for a "Universal Exchange" during the dialogue.
All-in-One Trading Platform: Exchanges are no longer limited to crypto assets. Bitget is working to integrate CEX, DEX, and RWA. Through a compliant framework, users will be able to trade tokenized US stocks (like Tesla, Nvidia) and gold directly on the platform, achieving one-stop asset allocation.
AI-Empowered Operations: Gracy revealed that over 22 departments within Bitget are deeply applying AI, ranging from KYC review and multilingual customer support to code generation, significantly improving operational efficiency.
The Future of RWA: Although RWA currently accounts for a small percentage of the total crypto market cap, as compliant channels open up—especially with Asian market demand for stable yields like US Treasuries—RWA will become a key stabilizer for exchanges against bull and bear cycles.
Speaker: Jonathan Llamas, Chief Product & Strategy Officer, SEALCOIN
SEALCOIN introduced the concept of Tokenization 2.0, centered on physical device identity authentication and value exchange.
Putting Physical Trust On-Chain: Tokenization 1.0 often relied on the credit of centralized custodians. In the 2.0 era, SEALCOIN injects Identity at the semiconductor chip level, allowing physical devices (sensors, machines, satellites) to directly generate verifiable data and sign transactions.
Machine Economy: This architecture provides the foundational trust for DePIN (Decentralized Physical Infrastructure Networks) and AI Agents. Jonathan also demonstrated a live "Space Drop," showcasing the infinite possibilities of combining the physical world with blockchain through interaction with on-orbit satellites.
Moderator: Leon (Venus)
Panelists: David Ching (Animoca), Anthony Moro (NUVA), Jerry Li (TermMax), Lisa Wade (Fableration)
From Mercenaries to Regulars: David Ching from Animoca pointed out that current on-chain capital is mostly "mercenary," chasing short-term high APY. To attract Sticky Capital, a sustainable Fixed Income market must be built.
Institutional Demand: Jerry Li from TermMax emphasized that institutional investors need certainty. Unlike the floating rates of DeFi, Fixed Income products are the bridge connecting TradFi capital to the crypto world.
Commodities On-Chain: The panelists also discussed bringing commodities like gold and even carbon credits on-chain via RWA to provide a richer variety of collateral for DeFi.
Speaker: Christie Lee, Strategic Advisor, Rewardy Wallet
Christie Lee from Rewardy Wallet provided a deep dive into Korea’s unique Web3 market culture.
Culture, Not Just Assets: In Korea, Crypto is not just a financial asset but a cultural phenomenon. Korean users react extremely fast to new trends and have high mobile internet penetration.
Gamified Finance: Rewardy’s success demonstrates that "Earn while doing" models (walking, watching videos, socializing) can effectively convert Web2 users into Web3 users.
Adoption > Speculation: True adoption isn't about hyping token prices, but making crypto wallets a part of users' daily digital lives, such as spending at convenience stores or exchanging for digital goods.
Moderator: Yuxin (APRO Oracle)
Panelists: Marcin (RedStone), Andy Lee (HashKey), Michael (Brevis), Brandon (Dinari), Bridget (Asseto)
The final panel explored the "last mile" problems of RWA implementation.
Data Reliability: Marcin from RedStone reiterated that the core challenge of RWA lies in the authenticity of off-chain data. Without reliable oracles and verification mechanisms, RWA becomes "Garbage In, Garbage Out."
Compliance is Prerequisite: Andy Lee from HashKey shared progress on RWA compliance in Hong Kong. He believes that only within a regulatory framework can RWAs be truly distributed to the masses through banks and large financial institutions.
Brevis’ ZK Solution: Michael mentioned that using Zero-Knowledge Proof (ZK Coprocessor) technology allows for the verification of off-chain asset data and computation results without compromising privacy, which is crucial for institutional protection.
"The Realized Summit" was not just a feast of technology, but a collective calibration of the industry's direction. From Pharos' financial-grade public chain to the tokenization of underlying assets (SEALCOIN), and from Bitget’s universal trading vision to RedStone’s risk control infrastructure, a clear trend is emerging:
Crypto is shedding its "Wild West" image and, through the combination of RWA, PayFi, and AI, is gradually evolving into an efficient financial network capable of carrying real-world value. As the summit theme suggests, we are moving from "concept" to "Realized."
Host: 499
Co-Hosts: Pharos Network, RedStone
Special Thanks: Animoca Brands, Hetu, and all partners.
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