加密貨幣中的真實世界資產 (RWA)：基礎知識和最大 RWA 加密貨幣的綜合指南

代幣化的現實世界資產仍然是 Web3 開發的熱門領域。曾經被稱為「萬億美元」的機會

Since the inception of ERC-20 tokens and decentralized finance (DeFi), tokenized real-world assets have remained a red-hot segment of Web3 development. Once called a “trillion-dollar” opportunity, the sphere of RWAs has its own risks and promises.

自 ERC-20 代幣和去中心化金融 (DeFi) 誕生以來，代幣化的現實世界資產一直是 Web3 開發的熱門領域。 RWA 領域一度被稱為「萬億美元」的機遇，但它也有其自身的風險和前景。

RWA tokens, i.e., cryptocurrencies somehow associated with protocols addressing real-world use cases, are also in the spotlight. In this guide, we are going to navigate through the basics of the on-chain real-world assets sphere and the largest RWA cryptocurrencies.

RWA 代幣，即以某種方式與解決現實世界用例的協議相關的加密貨幣，也受到關注。在本指南中，我們將介紹鏈上現實世界資產領域和最大的 RWA 加密貨幣的基礎知識。

Real-world assets in crypto: Quick facts

現實世界的加密資產：速覽

Real-world assets (abbreviated as RWAs) represent tokenized (on-chain) avatars of various classes of goods or rights that exist outside blockchains.

現實世界資產（縮寫為 RWA）代表存在於區塊鏈之外的各類商品或權利的代幣化（鏈上）化身。

As per CoinGecko, the segment of RWA tokens is valued over $19 billion, while the total addressable market (TAM) size for tokenization exceeds trillions of dollars.

根據 CoinGecko 的數據，RWA 代幣部分的價值超過 190 億美元，而代幣化的總潛在市場 (TAM) 規模超過數兆美元。

What are real-world assets in crypto?

什麼是現實世界的加密資產？

In crypto and blockchain, real-world assets or RWAs refer to traditional financial assets like agriculture products, precious metals, binds and stocks, but represented as blockchain-base tokens. Therefore, on-chain RWAs can be easily stored and transferred on-chain just like regular tokens.

在加密貨幣和區塊鏈中，現實世界資產或 RWA 指的是農產品、貴金屬、債券和股票等傳統金融資產，但表示為基於區塊鏈的代幣。因此，鏈上 RWA 可以像普通代幣一樣輕鬆地在鏈上儲存和轉移。

Thanks to the process of tokenization, ownership rights or claims are converted into digital tokens, allowing them to be traded solely on-chain.

由於代幣化的過程，所有權或債權被轉換為數位代幣，從而允許它們僅在鏈上進行交易。

With RWAs, people can both invest in the assets that already exist in the physical world (like raw materials) and purchase the goods unimaginable in Web2 (1/1,000 share of an artwork, a tokenized piece of content and so on).

透過 RWA，人們既可以投資物理世界中已經存在的資產（如原材料），也可以購買 Web2 中難以想像的商品（藝術品、代幣化內容等的 1/1,000 份額）。

RWAs in crypto: possible use cases

加密中的 RWA：可能的用例

With modern tokenization principles, almost every asset and object that exists in the physical world can be tokenized. However, with the proper economic motivation, some classes of assets became more popular than others.

根據現代代幣化原則，物理世界中存在的幾乎所有資產和物體都可以被代幣化。然而，在適當的經濟動機下，某些類別的資產變得比其他類別更受歡迎。

Example: tokenized fund by Franklin Templeton on Polygon (POL) and other EVM blockchains.

例如：富蘭克林鄧普頓在 Polygon (POL) 和其他 EVM 區塊鏈上的代幣化基金。

Example: tokenized real estate trusts in the U.S.

例：美國的代幣化房地產信託

Example: tokenized digital ownership rights in ERC 6551 tokens.

範例：ERC 6551 代幣中的代幣化數位所有權。

Simply put, that’s how the tokenization process works: Some Web3 firm inks an agreement with the owner or holder of physical assets, obtains the necessary rights and then issues (mints) tokens with predetermined properties (aggregated supply, token code details, fungibility and so on)

簡而言之，代幣化過程就是這樣運作的：一些Web3 公司與實體資產的所有者或持有者簽署協議，獲得必要的權利，然後發行（鑄造）具有預定屬性（總供應量、代幣代碼詳細資訊、可互換性等）的代幣。

Then, these tokens are offered to the community not unlike regular altcoins or, in case of something non-fungible (unique) like ERC-721, NFTs.

然後，這些代幣被提供給社區，就像普通的山寨幣一樣，或者，對於像 ERC-721 這樣的不可替代（獨特）的東西，NFT。

Why blockchains are necessary for RWAs trading

為什麼區塊鏈對於 RWA 交易是必要的

Being distributed, decentralized, tamper-proof and transparent systems, blockchains are inevitable for creating digital representations of real-world assets (RWAs).

作為分散式、去中心化、防篡改和透明的系統，區塊鏈對於創建現實世界資產（RWA）的數位表示是不可避免的。

Transparency

透明度

In blockchains, every transaction can easily be verified, including the very fact of asset minting/burning and every transfer associated with it. Even with no specific technical knowledge, every trader or investor can check the status of the asset they are going to buy.

在區塊鏈中，每筆交易都可以輕鬆驗證，包括資產鑄造/銷毀的事實以及與之相關的每筆轉帳。即使沒有特定的技術知識，每個交易者或投資者都可以檢查他們要購買的資產的狀態。

Flexibility

靈活性

While in Web2 creating new assets is associated with regulatory, infrastructure and economical challenges, in crypto, on-chain assets of various types can be created in a couple of clips. As such, it unveils unmatched opportunities for issuing different types of RWAs suitable for diverse investing strategies.

在 Web2 中，創建新資產與監管、基礎設施和經濟挑戰有關，而在加密貨幣中，可以在幾個片段中創建各種類型的鏈上資產。因此，它為發行適合不同投資策略的不同類型的 RWA 提供了無與倫比的機會。

Resource-efficiency

資源效率

In cryptocurrency, new tokens can be minted for a fraction of cent while transfers are charged with negligible commissions. Also, the storage of RWAs in crypto wallets is way cheaper than that with “real” Gold, Silver, let alone crude oil or agriculture production.

在加密貨幣中，新代幣的鑄造成本僅為一小部分，而轉帳的佣金則可忽略不計。此外，在加密錢包中儲存 RWA 比「真正的」黃金、白銀便宜得多，更不用說原油或農業生產了。

While in other segments (cross-border transfers, data storage and so on), blockchain accelerated existing developments, in RWAs it created a totally new technical basis that previously could hardly be imagined.

雖然在其他領域（跨境傳輸、資料儲存等），區塊鏈加速了現有的發展，但在 RWA 中，它創造了以前難以想像的全新技術基礎。

RWA crypto coins: What to know

RWA 加密貨幣：需要了解什麼

RWA cryptocurrencies represent the thriving class of crypto assets that are associated with projects addressing real-world assets in blockchain in various ways. The interest in RWA solutions is mirrored by the spikes of popularity of RWA crypto tokens.

RWA 加密貨幣代表了蓬勃發展的加密資產類別，這些資產與以各種方式處理區塊鏈中現實世界資產的項目相關。 RWA 加密代幣的流行程度反映了人們對 RWA 解決方案的興趣。

Mantra (OM)

真言（OM）

Launched in 2020, Mantra (OM), previously known as Mantra DAO, is one of the pioneering Layer 1 blockchains specifically designed for operations with real-world assets. Its mainnet kicked off in October 2024, triggering much enthusiasm in the segment.

Mantra (OM) 於 2020 年推出，以前稱為 Mantra DAO，是專為現實世界資產運營而設計的先鋒第 1 層區塊鏈之一。其主網於2024年10月啟動，引發了業界的熱烈討論。

OM, Mantra’s native ecosystem token, migrated to its own chain immediately after the mainnet release. OM’s staking is also available. Mantra's (OM) team stresses that it is focused on making on-chain operations with RWAs fully regulatory-compliant.

OM 是 Mantra 的原生生態系統代幣，在主網發布後立即遷移到自己的鏈上。 OM 的質押也可。 Mantra (OM) 團隊強調，其重點在於使 RWA 的鏈上操作完全符合法規要求。

Ondo Finance (ONDO)

昂多金融 (ONDO)

Introduced in early 2021, Ondo Finance (ONDO) offers a wide range of financial products from Web2 available as cryptocurrency tokens. Ondo Finance (ONDO) became popular due

Ondo Finance (ONDO) 於 2021 年初推出，提供來自 Web2 的各種以加密貨幣代幣形式提供的金融產品。 Ondo Finance（ONDO）因