As interest in on-chain RWA rekindles, investors are seeking new investment avenues. Perpetual Futures, as the most mature trading product in the crypto assets space, offer a faster and more flexible investment route than tokenization. Thanks to recent improvements in the decentralized exchange (DEX) infrastructure for perpetual futures, RWA perpetual futures contracts create synthetic investment opportunities for off-chain assets. We believe this field is developing along two directions. First, bringing exotic asset investment opportunities on-chain: since perpetual futures do not require collateral of the underlying assets, almost any asset can form a market, enabling the "perpetualization" of various assets from private companies to economic data. Second, as the connection between crypto assets and macro markets becomes increasingly tight, a more mature group of traders wishes to express views that are no longer limited to going long on digital assets. This has given rise to demand for on-chain macro asset investment opportunities, allowing traders to hedge or build a position through tools linked to oil, inflation breakeven points, credit spreads, and volatility.