My margin notes for @FourPillarsFP’ 2026 Outlook ↓ 1. Stables will become more than payments. It's much easier to build a superapp (FX, lending, on/off ramps) around a big stablecoin. 2. Clearing becomes the bottleneck Multiple regulated stablecoins fragment liquidity unless a clearing layer emerges. This “stablecoin clearing house” gap is a massive, underpriced opportunity. 3. RWAs move from bonds → equities. Treasuries were the warm-up. Stocks are harder (governance, liquidity, regulation), but once transfer agents come onchain, this gets real fast. 4. The winning DeFi agents will be constrained, auditable, and provably compliant, not “fully autonomous traders.” 5. Monad and MegaETH show the same thing: performance matters, but community + ecosystem design matters more. Loyal users > raw TPS. 6. Physical-digital assets are finally finding PMF. Trading cards are the clearest example. Instant liquidity + authenticity + onchain rails beat slow Web2 marketplaces. 7. CEXs are becoming financial superapps. Stablecoins, staking, subscriptions, and banking products are the real moat now. 8. DeFi Yield farming is being replaced by structured products backed by real cash flows. Mid-risk, accountable yield > ponzinomics. 10. Platforms are maturing. Ethereum and Solana are already in the “grown-up” phase.