If you treat @RialoHQ's Shark Tank as a search for the next big hit, you'll probably be a bit disappointed. But if you're here to see how far everyone has actually developed their products, it's quite interesting.

This time, it felt more like watching a construction site rather than a launch event. No one is rushing to tell a story, and no one is deliberately trying to tell a grand narrative; everyone is mainly showing something very real: how far they've gotten.
The first project: integrated DeFi.
This direction, frankly, is no longer new; there are plenty of similar things on the market. But what impressed me this time was their boldness to go straight into action. They’re not talking about architecture or the future, but opening the testnet and walking through the entire process from start to finish.
This kind of thing is actually hard to fake—you can tell right away if it's finished once you try it. But because of that, the problems are also magnified. The functions are complete, but the financial layer hasn't been truly established. How to dynamically adjust interest rates? How to avoid extreme situations during liquidation? Will incentives be exploited?
As soon as you ask these questions, you can feel that they are still in the design stage, not yet refined through real-world testing. So right now, it looks more like a well-assembled framework, but many key gears haven't been calibrated yet.
The second project: RealObvs, which has a completely different vibe.
It's very simple, even somewhat deliberately uncomplex. The core idea is one thing: release the project so others can understand it.
You can search, filter, and see project descriptions and videos, which is quite friendly for non-developers. This is actually quite rare, because many similar products end up being used only by developers.
What I appreciate about them is their control of the pace. If a feature is missing, they say they'll add it, and specify the days rather than vague promises.
You can't judge this kind of project by technical barriers; it’s about execution. Whoever implements the basic experience faster will more easily take the lead.
The third is a project in on-chain entertainment, which shows signs of moving toward stability.
Previously, it was more about stacking gameplay, but this time they started to streamline. Unified entry points, smoother processes, connected experiences—these optimizations are quite crucial.
They also began adding some restrictions, like test tokens, betting ranges, and fee extraction, which are essentially about controlling systemic risks. It shows they realize this isn’t just about being fun.
But the core shortcoming remains: how to prove fairness? Is the random number trustworthy? Without solving this, it’s basically a trial-only state, making it hard to truly get users to put their money in. Then there are compliance issues, which are still in discussion, but definitely unavoidable later.
This time, the voting rules were slightly modified, and I lean towards supporting it. Only allowing those present to vote is quite straightforward but effective. At least the results reflect real-time feedback from the scene, rather than who can rally the most votes outside.
Overall, this event didn’t feature projects that immediately get you excited. But there were no teams that jumped on stage unprepared either. Everyone is improving their products step by step, which is quite good!