RWA Token Wheel
The plumbing that brings off-chain assets on, not the assets themselves.
Press Spin. Every coin on the wheel has the same chance.
Your cryptocurrencies
The RWA token wheel picks one of twenty real-world asset protocol tokens at random. These are the protocols that bring off-chain assets on-chain — the infrastructure rather than the tokenised assets themselves.
The protocols, not the assets
A tokenised treasury bill or a token backed by a bar of gold is a claim on something off-chain, and this site excludes those everywhere — a wheel that lands on a dollar of government debt has not picked a cryptocurrency. What remains is the layer underneath: the protocols that do the bringing-on-chain.
That distinction makes this wheel narrower and considerably more interesting. These are the projects building custody arrangements, transfer restrictions, compliance plumbing and the legal wrappers that make a token correspond to a thing. It is the least glamorous work in crypto and the closest to actual finance.
The chain is the easy part
Putting a token on a ledger is trivial. Making that token reliably represent an asset in a warehouse or an account is not, and nothing about a blockchain helps with it. You need a custodian who genuinely holds the thing, a legal structure that survives the custodian failing, and an auditor confirming the two match.
Every one of those is an off-chain institution, staffed by people, operating under a jurisdiction. This category depends on traditional infrastructure more than any other in crypto, which is a strange position for a sector whose founding pitch was doing without it.
Where the trust actually sits
When something goes wrong with a tokenised asset, the on-chain record is rarely the problem. The failure is upstream: the asset was not there, or the entity holding it entered administration, or the legal claim turned out to be weaker than the marketing. The token faithfully recorded a claim that did not hold.
So the question worth asking about any protocol here is who holds the asset and what happens to your claim if they fail. The wheel picked one of twenty names and has no view on any of the answers.
What is on this wheel
| Rank | Ticker | Name |
|---|---|---|
| 12 | LINK | Chainlink |
| 16 | XLM | Stellar |
| 25 | HBAR | Hedera |
| 28 | AVAX | Avalanche |
| 39 | ONDO | Ondo |
| 45 | SKY | Sky |
| 59 | ALGO | Algorand |
| 64 | QNT | Quant |
| 74 | XDC | XDC Network |
| 81 | INJ | Injective |
| 84 | VET | VeChain |
| 108 | PENDLE | Pendle |
| 115 | SYRUP | Maple Finance |
| 122 | ZBCN | Zebec Network |
| 123 | IOTA | IOTA |
| 136 | TEL | Telcoin |
| 150 | TRAC | OriginTrail |
| 183 | RSR | Reserve Rights |
| 184 | PLUME | Plume |
| 194 | CFG | Centrifuge |
Market data provided by CoinMarketCap — CoinMarketCap. Rank, ticker and name only; this site stores no prices.
This list is a judgement about what belongs in the category, not a market-cap ranking, so it carries no date. See how the lists are chosen.
Questions
Which coins are on the rwa wheel?
All 20 of them are printed under the wheel: LINK, XLM, HBAR, AVAX, ONDO, SKY, ALGO, QNT, XDC, INJ, VET, PENDLE, SYRUP, ZBCN, IOTA, TEL, TRAC, RSR, PLUME and CFG. Stablecoins and wrapped tokens are left off, and you can replace the whole list in Custom mode.
Are the tokenised assets themselves on this wheel?
No. Tokenised treasuries, gold and equities are excluded site-wide along with stablecoins, because a wheel landing on a claim to a dollar of government debt has not picked a cryptocurrency. What remains is the protocol layer.
What does bringing an asset on-chain actually require?
A custodian holding the real thing, a legal structure tying the token to it, and somebody auditing that the two match. The chain handles none of that, which is why this category depends on off-chain institutions more than any other.