Regarding the capital efficiency issue, I propose we build a Curve V2-style AMM where we can have pools such as:
tricrypto: mBTC/mETH/UST
tri-precious metals: mIAU/mSLV/UST
bluechip stocks: mAAPL/mGOOGL/mMSFT/UST
meme stocks: mGME/mAMC/mDOGE/UST
…etc