I think there is a lot of value in looking at alternative (for crypto) RWA markets on GMX both as trading markets and as potentially usable as collateral. To be clear the V2 contracts are built with a view of being able to make markets for almost any asset conceivably, its simply a matter of working through and the protocol being stress tested, the recent addition of single token backed markets was a great example of this working.
Will share that the ecosystem contributors are in regular contact with nearly a dozen different protocols related to yield generating stablecoins, token issuers like paxos and tether (PAXG, XAUG) plus those looking to help bring other assets on chain.
There are a few practical issues that are worth highlighting
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adjusting between 24/7 markets vs say 8/5 and how to handle the risks inherent to implied price movements during the times Oracle prices aren’t available. This could involve locking up liquidity and trader positions, mechanisms to effectively enforce auto-deleveraging if these markets are backed with non-correlated assets etc
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utilzing the spot or futures markets for reference pricing of assets of this nature, example there are extended hour trading markets for the S&P500 index and gold may well have various spot and futures markets that in aggregate can provide 24/7 coverage but this doesn’t mean they are always the most liquid. How you handle for this data quality again comes into play.
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for assets like S&P 500, while i’m not a lawyer it is reasonable to say that some jurisdictions might view the trading of these indexes differently than say assets like gold, silver etc.