From the growth of RWA on Arbitrum, the rise of @Theo_Network In the past year, @arbitrum has become one of the fastest-growing RWA ecosystems in Ethereum L2. As of October 2025, the on-chain RWA TVL has surpassed $220 million, an increase of over 180% compared to the beginning of the year. From tokenized government bonds to yield-bearing stablecoins, RWA has evolved from early experiments to a new infrastructure with institutional participation, stable returns, and deep DeFi integration. In this "on-chain government bond race," @Theo_Network has emerged as the most watched dark horse. From Wall Street to Arbitrum Theo Network is a full-stack RWA platform founded by former Optiver / IMC quantitative traders, dedicated to tokenizing institutional-grade assets like U.S. Treasury bonds and integrating them into the DeFi ecosystem. The project completed a $20 million funding round in April 2025, with investors including Hack VC, Anthos Capital, Amber Group, Mirana Ventures, and others. Its flagship product, thBILL, launched in July 2025, achieving a TVL growth from $3 million to $42.5 million (just on Arbitrum) in just 10 months, soaring 1,317% year-on-year, making it one of the top three RWA projects on Arbitrum. thBILL is a tokenized short-term U.S. Treasury fund that offers about 5% annualized returns, allowing for near real-time minting and redemption on-chain. Its core innovation lies in the so-called "Optimistic Minting": allowing asset tokens to be generated on-chain first, with asynchronous settlement in the background, thus achieving low latency and high capital efficiency. Theo not only leads in issuance but has also built a moat in DeFi integration: 🔸 Over $83 million of thBILL/PT-thBILL has been supplied to Morpho, with an APR of up to 13.5% 🔸 On Pendle, users can separate returns into principal and yield tokens for trading 🔸 On Euler, thBILL can be used as collateral to borrow stablecoins This "full-stack RWA + DeFi composability" structure makes Theo one of the most liquid government bond assets on @arbitrum. On October 12, the single-day trading volume reached $18.4 million, with a monthly trading total exceeding $550 million. The core strength behind Theo The Wall Street background of the Theo team is a key reason for the project's success. The three co-founders come from top global market makers Optiver and IMC Trading: 🔹 @abhi_pingle is responsible for overall strategy and data research 🔹 Arijit Pingle focuses on algorithmic strategies and risk management 🔹 @kt_nowk specializes in low-latency systems and trading settlement networks This high-frequency trading (HFT) mindset has been introduced into the RWA space by Theo, enabling it to execute asset minting and settlement with "nanosecond-level settlement and block-level quotes." Compared to Ethena, which relies on funding rates, or Centrifuge, which only focuses on the issuance layer, Theo has significant advantages in execution efficiency and composability. Outlook for RWA on Arbitrum The rise of Theo is not an isolated event but a reflection of the rapid maturation of the RWA ecosystem on Arbitrum. Currently, traditional financial players such as Franklin Templeton, Spiko, and WisdomTree have already established a presence on @arbitrum, with the total ecosystem TVL expected to exceed $1 billion by the end of 2025. Meanwhile, ArbitrumDAO's STEP innovation funding program and DRIP incentive mechanism have further attracted institutional funds and developers. From a global perspective, the RWA market is moving towards a trillion-dollar era. According to predictions by VanEck and Polygon Labs, the global tokenized asset scale is expected to reach $30 trillion by 2034, accounting for about 10% of global GDP. In this era window, Arbitrum, as the most liquid and vibrant L2, will become one of the core settlement layers for RWA on-chain. From Arbitrum to the world, Theo's bridging mission If the rise of RWA on Arbitrum marks the beginning of the "compliance era for on-chain assets," then @Theo_Network represents the "professionalization era for on-chain assets." With Wall Street-level execution, DeFi-native liquidity structures, and a redefinition of the underlying efficiency and transparency of RWA, Theo is building a new bridge for Arbitrum and the entire Ethereum ecosystem—connecting real-world yield assets with borderless on-chain capital flows. In the future, as thBILL scales up and more asset classes (such as gold and real estate) are tokenized, Theo is expected to become the core engine of the Arbitrum RWA narrative and write its own chapter in the global $30 trillion tokenization wave. #Arbitrum @arbitrum_cn #arb