RealT
RWA · Real Estate · REG
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.
Fractional US real estate with daily rental yield.
Assets under management
$187.7M
-9.9% 24h
Latest data · 15 min delay
Risks identified
- 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.