According to @julian2kwan on X, 2026 is shaping up as the Year of the Vault, with DeFi vaults referenced as expanding from roughly $6B to $15B+ in TVL and delivering about 3 to 7 percent APY in altcoins, citing an Empire Podcast shared by @JasonYanowitz on X. According to @julian2kwan on X, there are two parallel tracks: DeFi vaults that run on-chain strategies for crypto-native assets with crypto-denominated yields, and RWA vaults that bring USD yields from tokenized fixed income on-chain, with the RWA addressable market described as orders of magnitude larger. According to @julian2kwan on X, institutional RWA flows require regulated venues rather than unregulated DeFi, and he cites IxsFinance licensing and integration with LINE for compliant distribution rails. According to @julian2kwan on X, tokenized RWAs can power vaults with real BTC yields, bridging traditional finance and crypto. According to @julian2kwan on X, traders should watch for RWA vault volumes to surpass DeFi vaults, implying a shift toward regulated RWA rails, USD yield products, and BTC-linked on-chain yield strategies if this thesis plays out.