March 29, 2024

The Plume Pulse — 29.03.2024

5 min read

Plume Pulse offers weekly insights into the Real World Asset (RWA) sector, carefully curated by the Goonheads specifically for Plume Goons.

Here is an overview of what the Plume Pulse will cover:

  1. Weekly RWA Highlights
  2. RWA Market Commentary
  3. Narrative Overview
  4. RWA Category Insights
  5. Tokenized Assets Analytics

1)Weekly RWA Highlights

BlackRock’s Move into Blockchain and RWA Tokenization: The world’s largest asset manager, BlackRock, unveiled its tokenized asset fund on the Ethereum network. This fund, represented by the BUIDL token, is backed by cash and U.S. Treasuries. This move signifies the increasing involvement of traditional finance giants in the tokenization space.

BlackRock’s Tokenized Fund Quickly Rakes in $245M: BlackRock’s new Ethereum-based tokenized fund, BUIDL, received a significant boost from a $95 million contribution by Ondo Finance. This performance nearly matches that of an older similar product by Franklin Templeton.

Singapore’s DigiFT Launches US T-Bill Tokens: Singapore’s DigiFT exchange entered the RWA scene by launching new tokens backed by U.S. Treasury Bills. This development highlights the growing interest in tokenizing traditional assets like bonds for improved efficiency and transparency.

MANTRA Chain Secures Funding: Blockchain project MANTRA Chain successfully raised $11 million to build a network specifically designed for RWA tokenization. They’re reportedly close to securing regulatory approval in the Middle East, paving the way for broader adoption.

TrueFi Introduces TRI Token: Decentralized credit protocol TrueFi introduced the TRI token, a dollar-based token aimed at facilitating RWA trading by improving capital efficiency and risk management.

Tokenizing Gold Mining Bond: Klaytn Foundation has signed an MOU with CREDER, developer of a Web3 RWA DeFi platform, and Green-X, a leading digital asset exchange in Malaysia, to expand Klaytn’s Real World Asset (RWA) ecosystem through the tokenization of gold mining bonds.

Lionel Messi as RWA Ambassador: Football superstar Lionel Messi has joined forces with Planet Refi to showcase the first series of Join The Planet RWA series inspired by his signature left boot.

Ripple’s XRPL taps Axelar for RWA, cross-chain communication: Ripple is partnering with the Axelar Foundation to add interoperability to the XRP Ledger (XRPL) blockchain, targeting the next stage of growth for the tokenization of real-world assets (RWAs).

2)RWA Market Commentary

This week, the tokenized asset market continued to gain momentum, despite a recent exploit highlighting security concerns.

Rising Interest in RWAs:

  • ONDO Finance (ONDO) surged 17% after Singapore-based DigiFT launched tokenized representations of US Treasury bills. This indicates growing investor interest in owning traditional assets through crypto tokens.
  • Ava Labs partnered with Chainlink and ANZ Banking Group to explore tokenized asset movement and settlement across blockchains. This collaboration signifies institutional involvement in building infrastructure for a global tokenized asset ecosystem.
  • SWIFT reported 97% of institutional investors believe tokenization will revolutionize asset management. This widespread belief underscores the potential for tokenization to disrupt traditional finance.

Challenges and Security Concerns:

  • Curio suffered a $16 million exploit, highlighting the vulnerability of some tokenized asset platforms. This incident emphasizes the need for robust security measures as the market matures.
  • Regulation remains unclear in many jurisdictions, creating uncertainty for businesses entering the tokenized asset space.

Looking Ahead:

  • Expect continued development of infrastructure and regulatory frameworks to support the growth of the tokenized asset market.
  • As security improves and regulations become clearer, we may see an influx of new asset classes being tokenized, including real estate, art, and private equity.

Additional Notes:

  • The recent rally in the crypto market, particularly with tokens like Ondo Finance, suggests investors are looking beyond traditional cryptocurrencies and exploring the utility of blockchain technology in the real world.
  • The exploit on Curio serves as a cautionary tale, reminding investors of the importance of due diligence when choosing platforms for tokenized assets.

3)Narrative Overview

Top Performing narratives (MTD performance):

  • RWA: 134%
  • Meme: 113%
  • Account Abstraction: 63%

4)RWA Category Insights

Market Cap: $8.2B (+3%)

Top Gainers:

  • Lucidao (+138%)
  • Crypto Real Estate (+117%)
  • Wecoin (+116%)

Market Cap Ranking:

  • Ondo $ONDO
  • Polymesh $POLYX
  • Mantra $OM

5)Tokenized Assets Analytics

Private credit

  • Active Loan Value: $610M
  • Total Loans Value: $4.4B
  • Total Loans: 1842

Tokenized Treasures

  • Total Value: $880M (+21%)
  • Average Yield To Maturity: $5%
  • Holders: 1,004


  • Market Cap: $150B (-0.14%)
  • Weekly Transfer Volume: $394B (-9%)
  • Weekly Active Addresses: 785k (+0.9%)

About Plume

Plume is the first modular L2 blockchain dedicated for all real world assets (RWAs) that integrates asset tokenization and compliance providers directly into the chain. Our mission is to simplify the convoluted processes of RWA project deployment and offer investors a blockchain ecosystem to cross-pollinate and invest in various RWAs. In addition, Plume enables RWA composability through its thriving DeFi applications and provides access to high-quality buyers to increase liquidity for all tokenized RWAs.

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