# Niklas Kunkel I From RWA to Crypto Native I Chronicle I Pragma San Francisco 2025

- Speakers: [Niklas Kunkel](https://streameth.org/speakers/niklas-kunkel-2)
- Channel: [ETHGlobal](https://streameth.org/ethglobal)
- Date: 2025-10-09
- Duration: 22:13
- Topics: Chronicle, Niklas Kunkel, RWA, Real World Assets, crypto native assets, MakerDAO, DeFi integration, blockchain oracles, tokenized treasury bills, tokenization, crypto revenue, asset transparency, DeFi liquidity, decentralized finance, blockchain data, automated risk management, crypto protocols, crypto innovation, crypto asset evolution, Pragma San Francisco
- Watch: https://streameth.org/watch/yt-orVlgVh_3fw
- YouTube: https://www.youtube.com/watch?v=orVlgVh_3fw

## Description

Join Niklas Kunkel, founder of Chronicle, at Pragma San Francisco 2025 as he discusses the evolution from traditional Real World Assets (RWAs) to Crypto Native Assets. Explore MakerDAO's pioneering journey with tokenized treasury bills (T-Bills), understand the differences between first, second, and third-generation RWAs, and discover how blockchain-native assets can enhance transparency, liquidity, and DeFi integration.

Learn how oracles like Chronicle play a crucial role in bringing real-time asset data on-chain, transforming the future of decentralized finance.

00:00 Intro: RWAs & Crypto Native Assets Explained
00:52 About Niklas Kunkel & Chronicle Overview
01:37 Stagnation in DeFi: The Need for RWAs
03:08 MakerDAO's RWA Journey: A Case Study
04:26 RWAs & Solving Revenue Volatility in DeFi
05:44 First-Gen RWAs: Tokenized T-Bills & Flaws
07:07 How MakerDAO Integrated RWAs Initially
08:23 Issues with Early RWAs: Yield & Transparency
09:08 MakerDAO Revenue Growth with RWAs
09:51 Breakdown of MakerDAO's Crypto & RWA Revenue
10:37 MakerDAO's Tokenization Grand Prix Explained
11:15 Second-Gen RWAs: Improved Yield & Liquidity
12:04 Legal Claims in Second-Gen RWA Tokens
12:49 Transparency Issues in Second-Gen RWAs
13:27 Rapid Redeemability & Liquidity in RWAs
14:09 Market Leaders in Second-Gen RWA Products
14:50 Problems Remaining in Second-Gen RWAs
15:36 Third-Gen RWAs: Defining "Crypto Native"
16:21 Why Current RWAs Aren't Crypto Native Yet
17:04 Key Features of Third-Gen Crypto Native RWAs
17:45 Real Blockchain Ownership: Tokens as Assets
18:25 Improving Data Transparency with Oracles
19:01 Chronicle's Oracle Solution for RWA Data
19:45 Automated DeFi Risk Management with RWAs
20:27 Chronicle’s Role in Future RWA Integration
21:05 Chronicle's Market Position & Partnerships
21:40 Connect with Chronicle: Dashboard & Socials
21:55 Conclusion & Wrap-Up

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _  

🇺🇸 *Pragma San Francisco*
Pragma San Francisco 2024 was a special gathering of founders and builders that took place October 16th and 17th at The Contemporary Jewish Museum in San Francisco, CA.  Pragma San Francisco 2024 was an opportunity discuss the future of web3 and reflect on the past. Watch the full Pragma San Francisco playlist here: https://youtube.com/playlist?list=PLXzKMXK2aHh4LcwDpGf_itZrAu7XRNb07&si=3x3y9J3avgNTITUe

ETHGlobal's Pragma series takes place in cities around the world, and is designed to be a different kind of event. Pragma is a one-stage conference with founders-only on stage, bringing together a small group of curated attendees and speakers to discuss the future of web3 and reflect on the past. 

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _  

✅ *Follow Chronicle*
X: https://x.com/ChronicleLabs

✅ *Follow ETHGlobal*
X: https://x.com/ETHGlobal​
Warpcast: https://warpcast.com/ethglobal
Website: https://ethglobal.com
YouTube: https://www.youtube.com/c/ETHGlobal 

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _  

_Are you interested in Ethereum development and entrepreneurship?_
👉 Sign up for the next ETHGlobal event: https://ethglobal.com/events
🎁 Get exclusive access and perks with ETHGlobal Plus! https://ethglobal.com/plus
📣 Want us to throw an event in your city? Tell us where! https://ethglobal.com/city

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _