RealT

RealT offers pure fractional real estate; tokens represent ownership slices of US residential/commercial properties via Delaware LLCs, with daily rental yields paid in stablecoins (xDai / USDC) directly to wallet. Hundreds of per-property RealTokens each trade as their own ERC-20.

Per-property Delaware-LLC RealTokens stream daily rental yield to the holder's wallet; hundreds of individual property tokens.

- RealTokens (ERC-20 property tokens): Each property is held by a dedicated LLC (originally a Delaware series LLC / Inc. structure) whose ownership interests are fractionalized into ERC-20 RealTokens issued on Ethereum and Gnosis Chain. Tokens carry transfer restrictions (whitelisting) to comply with U.S. securities law and entitle holders to a pro-rata share of net rental income. - RealT platform (realt.co): The primary-issuance marketplace where investors register, complete KYC/AML and (for U.S. persons) accredited-investor verification, purchase RealTokens from ~$50, sign the electronic subscription/purchase contract, and receive tokens within roughly 24 hours. - Weekly rent distribution: Rental income collected from tenants is distributed to token holders weekly in USDC, primarily via Gnosis Chain to minimize gas costs, proportional to the RealTokens held. - YAM (You And Me) secondary market: A permissioned peer-to-peer exchange (smart contracts on Gnosis Chain) where whitelisted holders create buy/sell offers for RealTokens at custom prices. Whitelisting per property is required for any secondary trade. - RMM (RealToken Money Market): An Aave-style non-custodial lending market (forked from Aave protocol v2/v3) where users deposit RealTokens as collateral and borrow stablecoins such as USDC, or lend assets to earn interest, adding liquidity to otherwise illiquid property tokens.

- RealToken Ecosystem Governance (REG) — Token, Governance token - RealT (no native token) (—) — Token, No native token - RealTokens (various) (RealTokens) — Receipt, Fractional real estate

- Counterparty: Each property's title is held by a RealT-affiliated LLC (or Inc.), not by token holders directly; holders own LLC membership interests and rely entirely on RealT's custody, management, and honest recordkeeping. Reporting found some homes were sold as tokens while the deeds still listed the prior owner because the purchase never closed, meaning token holders may not own what they paid for. - Regulatory: RealTokens are unregistered securities sold under Reg D Rule 506(c) (U.S. accredited investors only) and Reg S (offshore). RealToken Inc. is not a registered broker-dealer or investment advisor, exposing investors to Howey/securities-law enforcement risk and, as seen in Detroit, municipal nuisance-abatement litigation and personal-liability claims against founders. - Collateral: The underlying assets are concentrated, low-cost single-family homes subject to vacancy, deterioration, unpaid property taxes, blight tickets, and code violations. Portfolio-wide vacancy and mismanagement have caused rental income to collapse and left some tokens effectively worthless. - Systemic: RealTokens are highly illiquid: secondary sales are gated by per-property whitelisting on the YAM P2P market and thin DEX liquidity, so holders may be unable to exit at or near fair value, especially during stress or reputational crises. - Smart Contract: Custom ERC-20 transfer-restriction logic, the YAM peer-to-peer exchange, and the RMM (an Aave fork) carry smart-contract risk. Public repositories indicate reliance on in-house development and static analysis (Slither) rather than a clearly published, named third-party audit for the token/YAM contracts.

- Direct single-family rental property ownership: similar — Investors gain exposure to income-producing U.S. rental homes and receive rental cash flow, and the underlying asset is an actual deeded property held in an LLC.; differs — RealT fractionalizes each home into ERC-20 tokens with a ~$50 minimum and blockchain-based, weekly stablecoin distributions, versus buying a whole property with a mortgage, direct title, and hands-on landlording. Token holders hold LLC interests, not the deed, and have limited control over property management. - Publicly traded residential REIT: similar — Both pool investor capital to hold portfolios of rental real estate and pass through rental income to holders as a form of yield.; differs — A REIT is a regulated, exchange-listed entity offering a diversified, professionally managed pool with daily liquidity. RealT sells property-specific, unregistered securities (Reg D/Reg S) with per-property concentration risk, whitelisting-gated illiquid secondary markets, and no exchange listing.