According to CoinMeta, Multicoin Capital believes that RWA amplifies on-chain economic activity by increasing the demand for financial infrastructure, with value distributed along the technology stack across L1 / L2, core primitives, aggregation layers, and application layers. Large-scale institutional transactions have given rise to a need for privacy, and Renegade, Silhouette, and Zama are promoting the confidentiality of transaction intentions. Combined margin strategies reduce the amount of margin required through cross-asset netting.