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The most resilient systems will actually bridge the two. At Manifest, we are firmly building in that first world –– bringing the $35T U.S. home equity market onchain requires deep compliance and real-world integration. But to deliver economically productive, "real" yield, that real-world collateral must be governed by the principles of the second world: radical transparency, verifiable health factors, and fully transparent onchain liquidations. TradFi assets, purely onchain execution.

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