{"id":773,"date":"2023-12-07T16:22:00","date_gmt":"2023-12-07T08:22:00","guid":{"rendered":"https:\/\/insights.digift.io\/?p=773"},"modified":"2024-10-28T17:01:24","modified_gmt":"2024-10-28T09:01:24","slug":"real-world-assets-tokenization-the-next-generation-of-capital-markets-rwa-report-2023","status":"publish","type":"post","link":"https:\/\/insights.digift.io\/zh\/real-world-assets-tokenization-the-next-generation-of-capital-markets-rwa-report-2023\/","title":{"rendered":"Real World Assets Tokenization, The Next Generation of Capital Markets (RWA Report 2023)"},"content":{"rendered":"<p class=\"has-text-align-center wp-block-paragraph\"><em><a href=\"https:\/\/link.digift.co\/RWA-Research-Report-2023-EN\">\u201cReal World Assets Tokenization, The Next Generation of Capital Markets\u201d<\/a><\/em><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><a href=\"https:\/\/link.digift.co\/RWA-Research-Report-2023-EN\"><\/a><strong><a href=\"https:\/\/link.digift.co\/RWA-Research-Report-2023-EN\">Download The Full Report Here (EN) &#8211; PDF<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em><a href=\"https:\/\/link.digift.co\/RWA-Research-Report-2023-CN\">&nbsp;\u201c\u771f\u5b9e\u4e16\u754c\u8d44\u4ea7\uff08RWA\uff09\u4ee3\u5e01\u5316\u5f15\u9886\u4e0b\u4e00\u4ee3\u8d44\u672c\u5e02\u573a\u201d<\/a><\/em><br><strong><a href=\"https:\/\/link.digift.co\/RWA-Research-Report-2023-CN\">&nbsp;\u4e0b\u8f7d\u5b8c\u6574\u62a5\u544a\uff08\u4e2d\u6587\uff09&nbsp;&#8211; PDF<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h1 class=\"wp-block-heading\" style=\"font-size:24px\"><strong>Introduction<\/strong><\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">This 46-page report, titled \u201cRWA Tokenization: The Next Generation of Capital Markets,\u201d delves into the evolving landscape of tokenized Real-World Assets (RWAs). It explores the dynamics, models, regulatory intricacies, and growing investor interest in this domain.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Our research highlights the burgeoning potential of RWA tokenization within capital markets, despite its current nascent stage. RWA tokenization has garnered significant attention from leading financial institutions, particularly in the tokenization of government bonds and other capital market products via blockchain technology. A striking finding is the dramatic increase in Total Value Locked (TVL) in tokenized RWA, primarily in US Treasury Bill-related products, which surged approximately 600% from USD 100 million at the start of 2023 to a remarkable USD 784 million presently. This trend underscores a keen interest in stable yields, driving the demand for tokenized RWA in short-term treasury management and collateral diversification.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h1 class=\"wp-block-heading\" style=\"font-size:24px\"><strong>Key Takeaways<\/strong><\/h1>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Limited market size but big potential: The current market size of Real World Assets (RWA) is small compared to traditional financial markets. The potential market cap of RWA could potentially reach tens of trillions of dollars in the next five years, driven by efficiency and cost advantage of blockchain technologies.<\/li>\n\n\n\n<li>Supply side &#8211; Fixed income products dominance, the rise of US Treasury bill-related products and the fall of private credit products: According to data from RWA.xyz and Dune.com, the Total Value Locked (TVL) for major RWAs is concentrated in US treasury bill-related products. It has grown rapidly from $100 million at the beginning of 2023 to the current total value of 784 million during the crypto winter. The TVL in private credit products has declined from its peak of $1.5 billion in mid-2022 to just $500 million currently, mainly due to the collapse of FTX, 3AC and Luna-UST.<\/li>\n\n\n\n<li>Demand side &#8211; Institution dominance, mainly for short-term treasury management and asset diversification: By analysing the wallet addresses holding the US treasury bill-related products, we can observe that the primary holders are institutional investors. Currently, the demand for RWAs is mainly concentrated on the short-term treasury management needs for crypto companies or DAOs. Besides, DeFi protocols, such as stablecoin protocols and lending protocols, introduce RWAs to achieve collateral diversification and reduce the overall system risk.<\/li>\n\n\n\n<li>RWA regulation complexity:&nbsp;&nbsp;RWA encounters diverse regulatory landscapes worldwide. The US enforces strict laws with global reach. In contrast, Switzerland, Singapore, and Hong Kong SAR are showing active support, giving more friendly regulation environment for asset tokenization.<\/li>\n\n\n\n<li>Innovative models unlock RWA access in DeFi: Using innovative business models such as lending and token wrapping enables RWA integration into DeFi. But challenges such as AML compliance, sales restrictions, and unresolved asset ownership issues are still not addressed. The adoption of RWA will lead to a more regulatory-compliant way of DeFi.<\/li>\n\n\n\n<li>Outlook: In the short to medium term, the RWA market will be primarily dominated by fixed-income products due to the lack of stable income products in the crypto market, and the demand for risk diversification. In the medium to long term, as the market\u2019s understanding of compliant assets deepens and relevant legal framework becomes more robust, we will see a more diverse range of RWA assets, and potentially we can see the next generation of capital markets powered by token and blockchain technologies.<\/li>\n<\/ul>\n\n\n\n<h1 class=\"wp-block-heading\" style=\"font-size:24px\"><br><strong>Authors<\/strong><\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">Ryan Chen (DigiFT), Henrique Centieiro (HashKey Capital)<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h1 class=\"wp-block-heading\" style=\"font-size:24px\"><strong>With Recommendations From<\/strong><\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">Annabelle Huang (Amber Group), Joseph Goh (Superscrypt), S\u00e9bastien Derivau (Steakhouse Financial), and Aaron Collett (Goldfinch)&nbsp;<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em><a href=\"https:\/\/link.digift.co\/RWA-Research-Report-2023-EN\">\u201cReal World Assets Tokenization, The Next Generation of Capital Markets\u201d<\/a><\/em><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><a href=\"https:\/\/link.digift.co\/RWA-Research-Report-2023-EN\"><\/a><strong><a href=\"https:\/\/link.digift.co\/RWA-Research-Report-2023-EN\">Download The Full Report Here (EN) &#8211; PDF<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"wp-block-paragraph\" style=\"font-size:14px\"><em>By providing your email address, you agree with DigiFT\u2019s Privacy Notice (<\/em><a href=\"https:\/\/doc.digift.sg\/document\/DigiFT_PRIVACY_POLICY.pdf\"><em>https:\/\/doc.digift.sg\/document\/DigiFT_PRIVACY_POLICY.pdf<\/em><\/a><em>)<\/em><\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h1 class=\"wp-block-heading\">&nbsp;<\/h1>\n\n\n\n<h1 class=\"wp-block-heading\" style=\"font-size:24px\"><strong>\u7b80\u4ecb<\/strong><\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">\u8fd9\u4efd46\u9875\u7684\u7814\u7a76\u62a5\u544a\u540d\u4e3a \u201c\u771f\u5b9e\u4e16\u754c\u8d44\u4ea7\u4ee3\u5e01\u5316\uff0c\u5f15\u9886\u4e0b\u4e00\u4ee3\u8d44\u672c\u5e02\u573a\u201d\uff0c\u6df1\u5165\u63a2\u8ba8\u4e86\u771f\u5b9e\u4e16\u754c\u8d44\u4ea7\uff08RWA\uff09\u4ee3\u5e01\u5316\u53ca\u5176\u5e02\u573a\u6f5c\u529b\u3002\u8be5\u7814\u7a76\u6df1\u5ea6\u5256\u6790\u4e86\u4ee3\u5e01\u5316RWA\u8d8b\u52bf\u3001RWA&nbsp;\u6a21\u578b\u548c\u673a\u5236\u3001\u76d1\u7ba1\u67b6\u6784\u548c\u6295\u8d44\u8005\u504f\u597d\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7814\u7a76\u53d1\u73b0\uff0c\u5c3d\u7ba1\u76ee\u524dRWA\u4ee3\u5e01\u5316\u5e02\u573a\u89c4\u6a21\u6709\u9650\uff0c\u4f46\u5177\u6709\u5de8\u5927\u6f5c\u529b\uff0c\u6301\u7eed\u5438\u5f15\u4e3b\u6d41\u91d1\u878d\u673a\u6784\u901a\u8fc7\u533a\u5757\u94fe\u63a2\u7d22\u8d44\u672c\u5e02\u573a\u4ea7\u54c1\u4ee3\u5e01\u5316\u3002RWA\u4ee3\u5e01\u5316\u7684\u603b\u9501\u5b9a\u4ef7\u503c\uff08TVL\uff09\u4ece2023\u5e74\u521d\u76841\u4ebf\u7f8e\u5143\u4e0a\u6da8\u4e86\u7ea6600%\uff0c\u76ee\u524d\u8fbe\u5230\u7ea67.84\u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d\u7f8e\u56fd\u56fd\u503a\u76f8\u5173\u7684\u4ea7\u54c1\u5e02\u573a\u5360\u6bd4\u6700\u5927\u3002\u7814\u7a76\u8fd8\u53d1\u73b0\uff0c\u5e02\u573a\u5bf9\u7a33\u5065\u6536\u76ca\u7684\u8feb\u5207\u9700\u6c42\u63a8\u52a8\u4e86\u5bf9RWA\u7684\u79ef\u6781\u6295\u8d44\uff0c\u4ee5\u5b9e\u73b0\u77ed\u671f\u73b0\u91d1\u7ba1\u7406\u548c\u62b5\u62bc\u54c1\u591a\u6837\u5316\u3002<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h1 class=\"wp-block-heading\" style=\"font-size:24px\"><strong>\u6458\u8981<\/strong><\/h1>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u6709\u9650\u89c4\u6a21\uff0c\u65e0\u9650\u6f5c\u529b\uff1a\u4e0e\u4f20\u7edf\u91d1\u878d\u5e02\u573a\u76f8\u6bd4\uff0c\u76ee\u524d\u5e02\u503c\u4ec5\u6570\u5341\u4ebf\u7f8e\u91d1\u7684&nbsp;RWA\uff08Real-World Assets\uff0c\u771f\u5b9e\u4e16\u754c\u8d44\u4ea7\uff09\u7684\u6574\u4f53\u5e02\u573a\u89c4\u6a21\u8f83\u5c0f\u3002\u5728\u533a\u5757\u94fe\u6280\u672f\u7684\u6548\u7387\u548c\u6210\u672c\u4f18\u52bf\u7684\u63a8\u52a8\u4e0b\uff0cRWA\u7684\u6f5c\u5728\u5e02\u503c\u5728\u672a\u6765\u4e94\u5e74\u5185\u53ef\u80fd\u8fbe\u5230\u6570\u5341\u4e07\u4ebf\u7f8e\u5143\u3002<br><\/li>\n\n\n\n<li>\u4f9b\u7ed9\u7aef\u4e3b\u6d41\u4e3a\u56fa\u5b9a\u6536\u76ca\u4ea7\u54c1\uff0c\u56fd\u503a\u4ee3\u5e01\u5d1b\u8d77\uff0c\u79c1\u4eba\u4fe1\u8d37\u7f29\u6c34\uff1a\u6839\u636e&nbsp;RWA.xyz\u548c&nbsp;Dune.com&nbsp;\u7684\u6570\u636e\uff0c\u5f53\u524d\u4e3b\u8981&nbsp;RWA&nbsp;\u7684&nbsp;TVL\uff08Total Value Locked\uff0c\u603b\u9501\u5b9a\u4ef7\u503c\uff09\u96c6\u4e2d\u4e8e\u7f8e\u56fd\u56fd\u503a\u76f8\u5173\u4ea7\u54c1\uff0c\u81ea&nbsp;2023&nbsp;\u5e74\u521d\u7684&nbsp;1&nbsp;\u4ebf\u7f8e\u91d1\u589e\u957f\u5230\u76ee\u524d7.84&nbsp;\u4ebf\u7f8e\u91d1\u603b\u5e02\u503c\uff0c\u5728\u52a0\u5bc6\u5e02\u573a\u5bd2\u51ac\u4e2d\u4ecd\u5c55\u73b0\u5feb\u901f\u589e\u957f\u8d8b\u52bf\u3002\u79c1\u4eba\u4fe1\u8d37\u4ea7\u54c1TVL\u7531\u4e8e&nbsp;FTX\u30013AC\u3001Luna&nbsp;\u7b49\u9879\u76ee\u66b4\u96f7\u4e8b\u4ef6\uff0c\u4ece&nbsp;2022&nbsp;\u5e74\u4e2d\u6700\u9ad8\u5cf0&nbsp;15&nbsp;\u4ebf\u7f8e\u91d1\u4e00\u8def\u4e0b\u884c\u5230\u76ee\u524d\u4ec55&nbsp;\u4ebf\u7f8e\u91d1\u3002<br><\/li>\n\n\n\n<li>\u9700\u6c42\u7aef\u4e3b\u8981\u4e3a\u673a\u6784\u6295\u8d44\u8005\uff0c\u7528\u4e8e\u77ed\u671f\u73b0\u91d1\u7ba1\u7406\u548c\u6295\u8d44\u7ec4\u5408\u591a\u5143\u5316\uff1a\u901a\u8fc7\u5206\u6790\u56fd\u503a\u4ee3\u5e01\u76f8\u5173\u94b1\u5305\u5730\u5740\uff0c\u6211\u4eec\u53ef\u4ee5\u53d1\u73b0\u4e3b\u8981\u7684\u6301\u6709\u8005\u4e3a\u673a\u6784\u6295\u8d44\u8005\u3002\u5f53\u524dRWA\u7684\u9700\u6c42\u4e3b\u8981\u96c6\u4e2d\u5728\u52a0\u5bc6\u5e02\u573a\u6295\u8d44\u8005\u7684\u77ed\u671f\u73b0\u91d1\u7ba1\u7406\u9700\u6c42\u3002\u6b64\u5916\uff0cDeFi\u534f\u8bae\u5982\u7a33\u5b9a\u5e01\u534f\u8bae\u548c\u501f\u8d37\u534f\u8bae\u7b49\uff0c\u4e5f\u7eb7\u7eb7\u5f15\u5165RWA\u6765\u5b9e\u73b0\u6295\u8d44\u7ec4\u5408\u591a\u5143\u5316\uff0c\u964d\u4f4e\u6574\u4f53\u7cfb\u7edf\u98ce\u9669\u3002<br><\/li>\n\n\n\n<li>\u76d1\u7ba1\u4ecd\u9762\u4e34\u4e25\u5cfb\u6311\u6218\uff1aRWA\u5728\u5168\u7403\u8303\u56f4\u5185\u9762\u4e34\u591a\u6837\u5316\u7684\u76d1\u7ba1\u73af\u5883\u3002\u7f8e\u56fd\u5b9e\u65bd\u4e25\u683c\u7684\u8bc1\u5238\u6cd5\uff0c\u5e76\u4e14\u5177\u6709\u5168\u7403\u5f71\u54cd\u529b\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u745e\u58eb\u3001\u65b0\u52a0\u5761\u548c\u9999\u6e2f\u7279\u522b\u884c\u653f\u533a\u8868\u73b0\u51fa\u79ef\u6781\u7684\u652f\u6301\uff0c\u4e3a&nbsp;RWA&nbsp;\u63d0\u4f9b\u66f4\u53cb\u597d\u7684\u76d1\u7ba1\u73af\u5883\u3002<br><\/li>\n\n\n\n<li>\u521b\u65b0\u6a21\u5f0f\u5c06RWA\u4e0eDeFi\u7ed3\u5408\uff1a\u91c7\u7528\u521b\u65b0\u7684\u5546\u4e1a\u6a21\u5f0f\uff0c\u5982\u501f\u8d37\u548c\u4ee3\u5e01\u5305\u88c5\uff0c\u4f7f\u5177\u6709\u8f83\u9ad8\u6295\u8d44\u95e8\u69db\u7684&nbsp;RWA\u80fd\u591f\u6574\u5408\u5230DeFi\u4e2d\u3002\u4f46\u53cd\u6d17\u94b1\u5408\u89c4\u6027\u3001\u9500\u552e\u9650\u5236\u548c\u672a\u89e3\u51b3\u7684\u8d44\u4ea7\u6240\u6709\u6743\u95ee\u9898\u7b49\u6311\u6218\u4ecd\u672a\u5f97\u5230\u89e3\u51b3\u3002RWA&nbsp;\u548c&nbsp;DeFi&nbsp;\u7684\u878d\u5408\u4f1a\u4e00\u5b9a\u7a0b\u5ea6\u4e0a\u5f15\u5bfc&nbsp;DeFi&nbsp;\u8d70\u5411\u5408\u89c4\u5316\u3002<br><\/li>\n\n\n\n<li>\u5c55\u671b\uff1a\u4e2d\u77ed\u671f\u770b\uff0c\u7531\u4e8e\u52a0\u5bc6\u5e02\u573a\u7f3a\u4e4f\u7a33\u5b9a\u6536\u76ca\u4ea7\u54c1\uff0c\u4ee5\u53ca\u5206\u6563\u98ce\u9669\u7684\u9700\u6c42\uff0cRWA\u5e02\u573a\u4ea7\u54c1\u4ecd\u5c06\u4ee5\u56fa\u5b9a\u6536\u76ca\u4ea7\u54c1\u4e3a\u4e3b\u3002\u4e2d\u957f\u671f\u6765\u770b\uff0c\u968f\u7740\u5e02\u573a\u5bf9\u5408\u89c4\u8d44\u4ea7\u8ba4\u8bc6\u7684\u52a0\u6df1\u548c\u76f8\u5173\u6cd5\u5f8b\u6846\u67b6\u7684\u5b8c\u5584\uff0c\u6211\u4eec\u5c06\u770b\u5230\u66f4\u591a\u5143\u5316\u7684RWA\u8d44\u4ea7\uff0c\u5e76\u6709\u53ef\u80fd\u89c1\u8bc1\u7531\u533a\u5757\u94fe\u548c\u4ee3\u5e01\u5171\u540c\u9a71\u52a8\u7684\u4e0b\u4e00\u4ee3\u8d44\u672c\u5e02\u573a\u3002<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h1 class=\"wp-block-heading\" style=\"font-size:24px\"><strong>\u4f5c\u8005<\/strong><\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">Ryan Chen (DigiFT), Henrique Centieiro (HashKey Capital)<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h1 class=\"wp-block-heading\" style=\"font-size:24px\"><strong>\u63a8\u8350\u8bed\u81ea<\/strong><\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">Annabelle Huang (Amber Group), Joseph Goh (Superscrypt), S\u00e9bastien Derivau (Steakhouse Financial), and Aaron Collett (Goldfinch)<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em><a href=\"https:\/\/link.digift.co\/RWA-Research-Report-2023-CN\">&nbsp;\u201c\u771f\u5b9e\u4e16\u754c\u8d44\u4ea7\uff08RWA\uff09\u4ee3\u5e01\u5316\u5f15\u9886\u4e0b\u4e00\u4ee3\u8d44\u672c\u5e02\u573a\u201d<\/a><\/em><br><strong><a href=\"https:\/\/link.digift.co\/RWA-Research-Report-2023-CN\">&nbsp;\u4e0b\u8f7d\u5b8c\u6574\u62a5\u544a\uff08\u4e2d\u6587\uff09&nbsp;&#8211; PDF<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\"><em><br>\u63d0\u4f9b\u60a8\u7684\u7535\u5b50\u90ae\u4ef6\u5730\u5740\uff0c\u5373\u8868\u793a\u60a8\u540c\u610f<\/em><em>DigiFT<\/em><em>\u7684\u9690\u79c1\u58f0\u660e<\/em><em>&nbsp;(<\/em><a href=\"https:\/\/doc.digift.sg\/document\/DigiFT_PRIVACY_POLICY.pdf\"><em>https:\/\/doc.digift.sg\/document\/DigiFT_PRIVACY_POLICY.pdf<\/em><\/a><em>)<\/em><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>","protected":false},"excerpt":{"rendered":"<p>DigiFT and HashKey Capital jointly release a blockbuster RWA report<\/p>","protected":false},"author":256897717,"featured_media":756,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_oasis_is_in_workflow":0,"_oasis_original":0,"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"page_builder":"","_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false,"_links_to":"","_links_to_target":""},"categories":[132565],"tags":[],"class_list":["post-773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-academy"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/pg7Ide-ct","jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/insights.digift.io\/wp-content\/uploads\/2024\/10\/d35b5d9f08244e13823cf349c9543019.png?fit=1081%2C590&ssl=1","_links":{"self":[{"href":"https:\/\/insights.digift.io\/zh\/wp-json\/wp\/v2\/posts\/773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insights.digift.io\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insights.digift.io\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insights.digift.io\/zh\/wp-json\/wp\/v2\/users\/256897717"}],"replies":[{"embeddable":true,"href":"https:\/\/insights.digift.io\/zh\/wp-json\/wp\/v2\/comments?post=773"}],"version-history":[{"count":14,"href":"https:\/\/insights.digift.io\/zh\/wp-json\/wp\/v2\/posts\/773\/revisions"}],"predecessor-version":[{"id":1379,"href":"https:\/\/insights.digift.io\/zh\/wp-json\/wp\/v2\/posts\/773\/revisions\/1379"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insights.digift.io\/zh\/wp-json\/wp\/v2\/media\/756"}],"wp:attachment":[{"href":"https:\/\/insights.digift.io\/zh\/wp-json\/wp\/v2\/media?parent=773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insights.digift.io\/zh\/wp-json\/wp\/v2\/categories?post=773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insights.digift.io\/zh\/wp-json\/wp\/v2\/tags?post=773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}