Top RWA Tokens in 2024

Ranking Criteria:

• Innovations in tokenizing real assets,
• Reputation and stability of projects in the cryptocurrency market,
• Partnerships and integrations with traditional financial institutions,
• Legal and regulatory support for asset security,
• Presence of real demand for tokenized assets in 2024.

Read the breakdown of each asset in the article.

Ecosystem Elements:

• MANTRA Chain. The platform's main blockchain supports interactions with external networks, making it a versatile tool in the RWA sector.
• MANTRA Nodes. A network of nodes ensuring the blockchain’s security.
• MANTRA Finance. A suite of DeFi products including asset swaps, lending, and other financial tools. These services are provided in a non-custodial format, allowing users to maintain full control over their funds.
• OM Token. OM token holders participate in governance, voting on updates and network changes. Investors can delegate OM tokens to validators, supporting network security and earning passive income. OM powers the Proof of Stake (PoS) mechanism on MANTRA Chain. It is also used on the AUMEGA platform for trading tokenized assets and interacting with liquidity.

AUMEGA is the flagship trading platform of MANTRA Chain. It combines decentralized finance (DeFi) and centralized finance (CeFi) mechanisms. AUMEGA has two main tools: Automated Market Maker (AMM) and Central Limit Order Book (CLOB). With AMM, users can exchange assets through a liquidity pool where prices are automatically determined by supply and demand. CLOB allows users to place buy and sell orders at fixed prices available to market participants.

The Ondo Finance platform focuses on US Treasury bonds and money market funds. Its flagship product is OUSG (Ondo Short-Term US Government Treasuries).

While the product is not fully decentralized, it compensates with stability, low risk, and predictable returns in stablecoins.

However, access to OUSG is limited: the token is permissioned. This means only addresses approved by Ondo can mint, hold, and transfer these tokens. The minimum issuance threshold is $100,000, making the product tailored to wealthy investors and institutional clients.

The advantage of OUSG lies in its stability due to its association with BlackRock. As of 2024, a significant portion of the OUSG portfolio is invested in BlackRock BUIDL, which increases trust in the product.

While the OUSG model somewhat contradicts the classic concept of decentralized finance, it provides large players with a safe entry into the world of DeFi.

MakerDAO, now called Sky, is one of the most well-established projects in the world of decentralized finance (DeFi). Launched in 2017, it became famous for issuing DAI, a popular stablecoin pegged to the US dollar. In recent years, the project has incorporated the tokenization of real-world assets, including collateralized real estate loans.

MakerDAO enables property owners to access real-time liquidity in the form of DAI stablecoins. The funding amount depends on the value of the collateral, and the loans are subject to interest payments — similar to traditional financial systems.

However, the difference is that the interest payments are reinvested into the growth of the MakerDAO ecosystem, allowing the platform to evolve organically.

MakerDAO divides real collateral assets into four categories:

• Cashlike — Centralized stablecoins like USDC and short-term government bonds.
• Clean Money — Assets tied to sustainable projects in renewable energy, nuclear energy, and agriculture.
• Miscellaneous — Other assets, including ERC-20 tokens, WBTC, security tokens, and Layer 1 bridge tokens.
• Physically Resilient RWA — Real assets that are difficult to confiscate, such as physical real estate or durable equipment.

This well-thought-out structure allows MakerDAO to regulate the use of RWA, ensuring the long-term sustainability and security of its ecosystem.

Synthetix is a derivatives liquidity protocol operating on the Ethereum blockchain. Its goal is to provide users with access to commodities, currencies, stocks, and even bonds without requiring KYC or AML procedures.

Synthetic assets in Synthetix track the real-time value of actual assets using oracles. Users can mint these assets by locking SNX tokens in the protocol.

The platform operates by creating and backing Synths — synthetic tokens. Synths:

• Reflect the value of real assets. For example, the sCOPPER token tracks the price of copper on the global market.
• Are supported by oracle mechanisms. Oracles provide data on the market value of assets to keep Synth prices up-to-date.
• Are backed by SNX. To create a Synth, a user must lock a certain amount of SNX, which serves as a guarantee of liquidity.

SNX is not only a collateral instrument for Synths but also a governance tool for the platform. SNX holders vote on changes and improvements. They can also earn income through staking, as participants receive transaction fee commissions.

Polymesh is a private blockchain. Unlike general-purpose blockchains, Polymesh focuses on institutional users.

The project originated from Polymath, an earlier blockchain initiative. The transition to Polymesh addressed the infrastructure shortcomings of Polymath and allowed the project to focus on core objectives. Today, Polymath operates as an application on the Polymesh platform, and $POLY tokens can be swapped 1:1 for $POLYX.

To register on the Polymesh network, users must complete a KYC procedure. This ensures compliance with standards. Polymesh uses a hybrid approach: combining off-chain validation with on-chain transactions. This balances privacy with transparency for regulators.

Users can stake $POLYX to participate in the network and earn rewards. However, KYC is also required for staking — only verified users have access.

In 2024, Polymesh has secured a strong position for growth. Its focus on regulatory compliance and specialization in a niche segment give it a competitive advantage.

Goldfinch allows users to earn income in stablecoins by lending to successful credit funds and fintech companies, primarily in emerging markets.

The platform employs a «trust through consensus» mechanism. Instead of traditional crypto-based collateral, borrowers are evaluated collectively by auditors and other protocol participants. This enables fully collateralized loans off-chain. The result: sustainable returns that are not affected by crypto market volatility.

GFI holders can influence the platform's future development. The token is used to reward liquidity providers, backers, auditors, and borrowers. This includes liquidity mining, staking, and bonuses for contributions to the ecosystem. The community can also allocate grants to participants who make significant contributions to the protocol's growth.

Goldfinch holds an unstable position in the market but remains a key project in the RWA sector due to its lending model.

Creditcoin is building a credit investment network, enabling financial institutions to integrate their lending operations into the blockchain.

Creditcoin has undergone significant evolution, transforming from its previous protocol version (CC Enterprise) into a full-fledged blockchain network. It is compatible with the Ethereum Virtual Machine (EVM).

In the coming years, the platform plans to introduce Universal Smart Contract technology. This will enable native interaction with data and events on other blockchains like Bitcoin and Ethereum. Key benefits of the update include:

• Coordination of smart contract operations across different chains through a standard interface,
• Creation of new Web3 applications with cross-chain functionality.

In 2024, Creditcoin stands at the forefront of lending and innovative blockchain technologies. Its compatibility with EVM and the upcoming implementation of universal smart contracts make the project attractive to both developers and financial institutions.

Pendle Finance enables users to deposit yield-bearing assets and receive two types of tokens. PT (Principal Tokens) can be redeemed at the end of the term, while YT (Yield Tokens) provide income until maturity. This allows users to choose between fixed-income strategies (via PT) or variable-income strategies (via YT).

Pendle has developed an AMM that adapts to yield changes, thereby minimizing impermanent loss. Concentrated liquidity and dynamic pricing curves enable efficient trading of PT and YT.

Pendle Finance offers an instant swap feature, allowing users to easily balance their positions. For example, bulls buy YT for higher yields, while bears switch to PT for greater stability.

At the beginning of 2024, Pendle Finance launched an update — V2. Instead of separate pools for PT and YT, a unified liquidity pool was introduced. This reduced capital fragmentation and sped up trading.

Maple Finance provides institutional borrowers with access to secured lending. Investors, in turn, earn income by participating in lending pools or using other structures.

Protocol participants can add liquidity to lending pools, supplying capital to institutional borrowers. MPL holders have the option to use their tokens to provide liquidity and receive Balancer Pool Tokens (BPT) in return. BPT serves as first-loss capital.

Maple (MPL) serves two main functions. Holders vote on protocol changes, including fee adjustments, asset issuance, or burning. Additionally, MPL can be staked to earn a share of protocol fees.

In 2024, Maple became a key asset for investors seeking sustainable yields, as well as for borrowers in need of liquidity backed by digital assets.

Currently, the market is attracting increasing attention from both retail and institutional investors. RWA tokens are drawing inspiration from Bitcoin’s success, with its capitalization level remaining a benchmark for the industry. To keep pace, RWA tokens are offering new portfolio diversification opportunities, a trend expected to continue into 2025.

The maximum supply of many RWA tokens is capped, contributing to their long-term sustainability and price stability. These platforms essentially act as sponsors of financial innovation, bridging traditional assets with the DeFi ecosystem.