1.1 Market Background

The world is at a turning point of the rapid rise of the digital economy. The rapid development of blockchain technology and decentralized finance (DeFi) is profoundly reshaping the global financial ecology. According to authoritative industry data, the global blockchain market size is expected to reach US$123.571 billion by 2025, with a compound annual growth rate of 28.1%; and the DeFi market is expected to exceed US$337 billion by 2030, with an astonishing compound annual growth rate of 53.7%. At the same time, the wave of tokenization of real-world assets (RWA) is in full swing, and the market size is expected to exceed US$50 billion in 2025. These figures not only reveal the huge potential of the digital financial field, but also indicate that the traditional financial system is facing unprecedented challenges and opportunities.