Conflux co-founder questions the authenticity of the data stating “the total value of RWA assets reaches 410 billion USD”: RWA.XYZ exaggerates its scale by “fabricating data”

Conflux co-founder Forgiven acknowledged on the X platform that the extensively circulated data claiming “the total asset value represented by international RWA is 410 billion USD” is critically deceptive, stemming from a latest synthetic adjustment in the metrics by the RWA data web site RWA.XYZ.

Earlier than the revision of RWA.XYZ, the total asset scale of the RWA business was roughly 30 billion USD, however after the revision, it immediately inflated to 410 billion USD. The primary motive for that is that the web site launched two new statistical metrics:

• Reported Asset Value: Assets that situation digital certificates solely in non-public chains or closed programs, however haven’t undergone precise on-chain transfers or distribution, at present amounting to roughly 410 billion USD;
• Distributed Asset Value: RWA assets which are truly distributed to buyers by means of public chains, DeFi protocols, or exchanges, at present amounting to roughly 18 billion USD.

Forgiven identified that about 91% of the at present hyped 410 billion USD data comes from assets issued on the non-public chain Canton, whereas about 14 billion USD comes from Determine’s residence fairness line of credit score (HELOC) merchandise issued on its self-developed non-public chain Provenance. These assets have virtually no direct relationship with the crypto market and are merely “non-public chain accounting tokens.” The Distributed Asset Value (18 billion USD) higher displays the true demand construction of the RWA business.

He additionally warned towards blindly believing Wall Avenue narratives or “authoritative data platforms,” suggesting that some data platforms, after gaining crypto site visitors and advantages, have turned to cooperate with capital to package deal narratives, deceptive market perceptions, and known as for vigilance concerning the latest hype round RWA ideas in the Hong Kong inventory market.