Institutional Grade RWA Intelligence

Know Your Exit Before You Enter.

A standardized liquidity scoring system for tokenized real-world assets. Five dimensions. Open methodology. Manually validated scores. Designed for institutional risk assessment.

View Live Scores

Founding Standard

The Ten Commandments of RWALS

  1. Absolute Independence
  2. Complete Transparency of Methodology
  3. Live and Recorded Governance
  4. Open Governance Pool
  5. Five Locked Scoring Dimensions
  6. No Secret Modifications
  7. No Cheatable Design
  8. Funded Pool Stability
  9. Institutional Grade, Not Institutional Captured
  10. Permanence of These Principles
Open Foundational Document
Live Tracked TVL* $9.19B
Assets Scored 15
Avg Liquidity Score 52
Multi-Chain Coverage 10+

*TVL figure reflects assets with available public on-chain data and may not include all permissioned or non-DeFi-composable assets. See individual asset pages for chain-level detail.

Liquidity Scores

RWALS V2.0 — TVL from DefiLlama + CoinGecko where available

# Asset Chain RWALS V2 Grade Live TVL
1
PAXG
Paxos Trust Company
 ETH · SOL 96 LL-1 HIGH updating...
2
XAUT
Tether Limited
 ETH · TRX 91 LL-1 HIGH updating...
3
USDY
Ondo Finance
 ETH · SOL · MANT 79 LL-2 MOD updating...
4
OUSG
Ondo Finance
 ETH · SOL 71 LL-2 MOD updating...
5
BENJI
Franklin Templeton
 POLY · STLR · AVAX · ARB 69 LL-2 MOD updating...
6
USYC
Hashnote / Circle
 ETH · SOL 67 LL-2 MOD updating...
7
USCC
Superstate
 ETH 65 LL-2 MOD updating...
8
USTBL
Spiko
 ETH · ARB · POL 53 LL-3 LTD updating...
9
BUIDL
BlackRock / Securitize
 ETH · AVAX · SOL · ARB · OPT · POL 48 LL-3 LTD updating...
10
mF-ONE
Fasanara / Midas
 ETH 35 LL-4 ILLIQ updating...
11
CFG-DROP
Centrifuge
 ETH · CFG 25 LL-4 ILLIQ updating...
12
FIDU
Goldfinch
 ETH 23 LL-4 ILLIQ updating...
13
RealT
RealT
 ETH · GNO 21 LL-4 ILLIQ updating...
14
Lofty
Lofty.ai
 ALGO 21 LL-4 ILLIQ updating...
15
Maple-PC
Maple Finance
 ETH · SOL 20 LL-4 ILLIQ updating...

RWALS V2 scores are computed from on-chain data, regulatory filings, and market depth. Scores update daily. TVL sourced from DefiLlama and CoinGecko. Permissioned assets and those without on-chain composability may not report public TVL. Scores are based on full methodology regardless of TVL availability.

The RWALS Framework

The Five Dimensions

Open Source — V2.0 — Institutional Grade

Redemption Velocity 25 pts max

Scored on stated terms AND realized performance. Gate provisions trigger mandatory -3 penalty. New products capped at score 55.

Secondary Market Depth 22 pts max

Four-factor composite: $100K simulated slippage, HHI wallet diversity (anti-wash-trading), price-to-NAV deviation, 90-day temporal consistency.

Transfer Restrictions 18 pts max

Technical mechanism, whitelist breadth via active addresses, cross-chain transferability. Permissionless ERC-20 receives full marks.

NAV Transparency 18 pts max

Frequency PLUS accuracy — mean absolute deviation of stated vs realized redemption NAV over 12 months. Accuracy, not just cadence.

Operational Integrity 17 pts max

Fully objective: Tier-1 smart contract audits, operational track record in months + AUM, regulatory registration, qualified custody.

80-100
LL-1 — High
60-79
LL-2 — Moderate
40-59
LL-3 — Limited
20-39
LL-4 — Restricted
0-19
LL-5 — Illiquid

V2.0 — Current

Get Early API Access

Priority access for DeFi protocol risk teams, institutional allocators, and tokenization platforms. Full data feed — sub-dimension scores, 30-day deltas, penalty flags, confidence intervals. Beta rollout on a rolling basis.

Institutional Use — No Spam

Methodology Docs — Open Source — Auditable

V1.0 — Concept Edition
RWALS White Paper v1.0
The Original Thesis
V2.0 — Latest — Institutional Edition
RWALS White Paper v2.0
Regulatory Grade

In Active Development

Data In Development
Automated Real-Time Pipeline

On-chain data ingestion replacing manual score calculation. Currently scoring is validated manually against the open methodology. Pipeline under active engineering.

Target: Q3 2026

API Accepting Applications
Institutional REST API

Full data feed: scores, confidence intervals, dimension breakdowns, 30-day deltas, penalty flags. API keys issued to approved institutional users as capacity allows.

Beta rollout on rolling basis

Platform In Development
Score Verification Dashboard

Public integrity dashboard showing score hash verification, audit chain health, data lineage per asset, and last validation timestamps. Core infrastructure in place.

Rolling release

Coverage Planned
Expanded Asset Coverage

Adding scored assets as public on-chain data becomes available. Priority categories: tokenized money-market funds, additional private credit pools, and real estate tokens.

Subject to data availability

Features in Development

DeFi Planned
Protocol Risk Integration

Free webhook tier for Morpho, Euler, Aave collateral parameter governance. Requires stable API and partnerships.

Alerts Planned
Score Change Notifications

Real-time alerts when any asset score changes by 5+ points. Email, webhook, SMS. Requires API infrastructure.

Portfolio Planned
Portfolio Liquidity Tracker

Input your RWA holdings. Receive an aggregate portfolio-level RWALS score. Requires user accounts and data storage.

Markets Planned
RFQ Liquidity Layer

Request-for-quote marketplace. Post a position, receive bids from vetted market makers at discount to NAV.

Mobile Planned
iOS + Android App

Native mobile. Monitor scores, receive alerts, track your portfolio on the go. Requires full API stability first.

Governance Planned
Independent Methodology Committee

Three independent, conflict-of-interest-screened members. Meeting minutes and voting records published publicly.

Long-Term Ambitions — Not Under Active Development

Future initiatives contingent on infrastructure maturity and partnerships.

Research — Empirical Validation Study

First published study correlating RWALS scores against realized exit outcomes over 24 months. Academic partnership required.

OTC — OTC Market Transparency Layer

Standardized OTC secondary market reporting. First aggregated view of off-exchange RWA trading. Data access is the primary blocker.

Coverage — 100+ Asset Coverage

Expanding from 15 to 100+ scored assets across all RWA categories. Contingent on data availability and pipeline completion.

What Is Live Now

01

Open-source V2.0 methodology — published and versioned. Anyone can reproduce scores from public data.

02

15 assets scored — across treasuries, private credit, commodities, and real estate.

03

Manually validated scores — each score is reviewed by the core team before publication.

04

Live TVL where available — sourced from DefiLlama and CoinGecko for assets with public on-chain data.

05

White papers v1.0 and v2.0 — full methodology documentation.

06

Audit trail — every score change is logged with timestamp, reason, and author.