Narrative

Real-world asset (RWA) dApps

Tokenized treasuries, credit, real estate and other real-world assets on-chain, ranked by score and value locked.

Listed: 192
Reviewed: 192
Shown: 50

Real-world asset (RWA) dApps: the numbers

Tracked: 192
Reviewed: 192
Total TVL: $1.94B
Avg. score: 4.9/10

There are 192 RWA dApps in the SkyBitcoins index. Every one of them has a full review. Across the 67 with TVL data, the combined value locked is $1.94B. No single project dominates: the largest, OnRe, holds 16%. The top five account for 58%, while the median RWA dApp holds $1.73M.

Most RWA dApps run on Ethereum (55), Base (30) and Polygon (20). 37% are deployed on more than one chain. Of the 136 with a confirmed status, 134 are active and 2 are inactive or wound down. In the past week, total value locked fell 9.3%. Uranium.io gained the most (+36.0%), while Anemoy Capital dropped the most (−49.2%).

Ranked by TVL, OnRe ($309M), OpenTrade ($246M) and Aave Horizon RWA ($219M) lead the field. The best-rated is Spiko with 6.8/10, followed by Paxos Gold (6.5) and OpenTrade (6.2). The 99 rated RWA dApps average 4.9/10, and none scores 8 or above yet.

Largest by TVL

1OnRe$309M
2OpenTrade$246M
3Aave Horizon RWA$219M
4R25$198M
5USD AI$158M

Highest rated

Real-world asset (RWA) dApps, page 1 of 4
		Category	Chains
1	SpikoReviewed	Real-World Assets	—	—	—	6.8
2	Paxos GoldReviewed	Real-World Assets	Ethereum	—	—	6.5
3	OpenTradeReviewed	Real-World Assets	Avalanche, Ethereum +1	$246M	−0.5%	6.2
4	Boson ProtocolReviewed	Real-World Assets	Polygon, Ethereum +3	$230K	−0.1%	6.2
5	Tether GoldReviewed	Real-World Assets	Ethereum	—	—	6.2
6	VNXReviewed	Real-World Assets	Ethereum, Polygon +4	—	—	6.1
7	AktionariatReviewed	Real-World Assets	Ethereum, Polygon +2	—	—	6.1
8	EtherfuseReviewed	Real-World Assets	Stellar, Solana +3	—	—	6.0
9	Sierra ProtocolReviewed	Real-World Assets	Ethereum, Avalanche +1	$36.7M	−7.1%	5.9
10	LoftyReviewed	Real-World Assets	Algorand	$101M	−0.1%	5.8
11	Sky RWAReviewed	Real-World Assets	Ethereum	$61.2M	−5.9%	5.8
12	BrickkenReviewed	Real-World Assets	BNB Chain, Ethereum +3	$42.4M	−0.1%	5.8
13	AlcumReviewed	Real-World Assets	Ethereum	$239K	0.0%	5.8
14	IXSReviewed	Real-World Assets	Ethereum, Base +4	$85.7K	−6.3%	5.8
15	WisdomTreeReviewed	Real-World Assets	—	—	—	5.8
16	Ondo Global MarketsReviewed	Real-World Assets	Solana, Robinhood Chain	—	—	5.8
17	OpenedenReviewed	Real-World Assets	—	—	—	5.8
18	KlimaDAOReviewed	Real-World Assets	Base, Polygon	$0	−100%	5.7
19	LiveArtReviewed	Real-World Assets	BNB Chain, Base	$96.1K	−0.0%	5.5
20	Ladder FinanceReviewed	Real-World Assets	—	—	—	5.5
21	DigiFTReviewed	Real-World Assets	—	—	—	5.5
22	MatrixDock XAUMReviewed	Real-World Assets	Arc, Stellar	—	—	5.5
23	BackedFiReviewed	Real-World Assets	Solana, Avalanche +1	—	—	5.5
24	Solv RWAReviewed	Real-World Assets	BNB Chain, Mantle	$8.70M	−2.3%	5.4
25	DinariReviewed	Real-World Assets	—	—	—	5.4
26	StoboxReviewed	Real-World Assets	Base, Arbitrum	—	—	5.4
27	Centrifuge ProtocolReviewed	Real-World Assets	—	—	—	5.4
28	Ondo Yield AssetsReviewed	Real-World Assets	Solana	—	—	5.4
29	Invesco USTBReviewed	Real-World Assets	—	—	—	5.3
30	KAIOReviewed	Real-World Assets	Sei, Immutablezkevm +12	$34.7M	−10.5%	5.2
31	KUMA ProtocolReviewed	Real-World Assets	Ethereum, Linea +2	$3.07M	+0.0%	5.2
32	CHATEAUReviewed	Real-World Assets	Plasma	$1.02M	−0.0%	5.2
33	RallyReviewed	Real-World Assets	—	—	—	5.2
34	AlloReviewed	Real-World Assets	—	—	—	5.2
35	Ondo FinanceReviewed	Real-World Assets	Robinhood Chain	—	—	5.2
36	ZothReviewed	Real-World Assets	Base	—	—	5.2
37	Mantle Index Four FundReviewed	Real-World Assets	—	—	—	5.2
38	Uranium.ioReviewed	Real-World Assets	Etherlink	$10.5M	+36.0%	5.1
39	xStocksReviewed	Real-World Assets	—	—	—	5.1
40	USD AIReviewed	Real-World Assets	Arbitrum	$158M	−42.5%	5.0
41	Usual USD0Reviewed	Real-World Assets	Ethereum	$81.2M	−2.1%	5.0
42	Anemoy CapitalReviewed	Real-World Assets	Ethereum, Base +1	$52.2M	−49.2%	5.0
43	OrigynReviewed	Real-World Assets	ICP	—	—	5.0
44	MatrixDock STBTReviewed	Real-World Assets	—	—	—	5.0
45	Tangible RWAReviewed	Real-World Assets	Polygon, Arbitrum +3	$41.9M	−0.3%	4.8
46	PropbaseReviewed	Real-World Assets	Aptos	$1.38M	−0.7%	4.8
47	Arca Labs ArCoinReviewed	Real-World Assets	Ethereum	$455K	−0.0%	4.8
48	Republic NoteReviewed	Real-World Assets	Avalanche	$0	—	4.8
49	ToucanReviewed	Real-World Assets	Base, Celo	—	—	4.8
50	ChintaiReviewed	Real-World Assets	Ethereum, Solana +2	—	—	4.8

Ranked by SkyBitcoins score, then total value locked. Click a column to re-sort this page. TVL data via DefiLlama.

Where they run

Chains they run on

1Ethereum5529%
2Base3016%
3Polygon2010%
4Solana1910%
5BNB Chain168%
6Avalanche147%
7Arbitrum137%
8Plume53%
9Monad53%
10Robinhood Chain53%
11Optimism42%
12Stellar42%

Frequently asked questions

What is the largest RWA dApp by TVL?

OnRe is the largest RWA dApp by total value locked, with $309M. It is followed by OpenTrade ($246M) and Aave Horizon RWA ($219M). TVL figures come from DefiLlama and change daily.

Which RWA dApp has the highest SkyBitcoins score?

Spiko has the highest score at 6.8/10, ahead of Paxos Gold (6.5) and OpenTrade (6.2). Scores weigh security, ease of use, fees and features, and are based only on facts we could verify.

How many RWA dApps does SkyBitcoins track?

SkyBitcoins tracks 192 RWA dApps. Of these, 192 have a full review and 67 report value locked, $1.94B in total.

What chains do most RWA dApps run on?

Ethereum is the most common, with 55 of 192 RWA dApps, followed by Base (30) and Polygon (20). 37% are deployed on more than one chain.

Which RWA dApps grew the most this week?

Among RWA dApps with at least $1M locked, Uranium.io had the biggest 7-day TVL gain (+36.0%) and Anemoy Capital the biggest drop (−49.2%). Combined TVL moved −9.3% over the same seven days.

What is the average score for RWA dApps?

The 99 rated RWA dApps average 4.9 out of 10. Of these, 0 score 8 or higher and 51 score below 5.