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Conflux Foundation Questions the Authenticity of "RWA Asset Total Value Reaching $410 Billion" Claim, Alleges RWA.XYZ Inflated Scale through "Data Fabrication"
BlockBeats News, December 19th, Co-founder of Conflux, Forgiven, stated in a post that the widely circulated market data claiming "the total value of global RWA-represented assets is $410 billion" is severely misleading. The root cause behind this claim is a recent artificial adjustment made by the RWA data website RWA.XYZ. Prior to the website's update, the total RWA industry asset size was around $30 billion, but post-update, it suddenly inflated to $410 billion. The main reason for this sudden increase is due to the introduction of two new statistical measures:
· Reported Asset Value: Assets issued as digital certificates on a private chain or closed system but have not undergone actual on-chain transfers or distribution, currently totaling around $410 billion;
· Distributed Asset Value: RWA assets distributed to investors through a public chain, DeFi protocols, or exchanges and are actively held, currently totaling around $18 billion.
Forgiven pointed out that approximately 91% of the highly promoted $410 billion data is from assets issued on the private chain Canton, and around $14 billion comes from Figure company's Home Equity Line of Credit (HELOC) products issued on its proprietary chain, Provenance. These assets have little to no direct relationship with the crypto market and are merely "private ledger tokens." The Distributed Asset Value of $18 billion better reflects the true demand structure of the RWA industry.
He also warned against blind faith in Wall Street narratives or "authoritative data platforms," suggesting that some data platforms, after benefiting from crypto traffic and dividends, have started to align with capital-backed narratives, misleading market perceptions. He cautioned to remain vigilant against the recent hype of the RWA concept in the Hong Kong stock market.
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