Tokenomics

GromaCoin ($GRO) sits on a REIT that files with the SEC and owns Boston apartments, yet the token scored 29 out of 100, grade D. The asset isn't the problem: three versions of the numbers, a manager-set NAV, and a plain ERC-20 where the whitepaper promised ERC-3643.

MAS looks at economic substance, not labels: a token on a PE stake or a revenue share is a security or a CIS unit. Nine steps to clear before issuance — prospectus exemptions, accreditation thresholds and what the smart contract must enforce.

Aggregators list $973m in assets, yet three addresses moved the token in 30 days. Our audit of the first tokenized venture fund: grade C, 40 out of 100. The wrapper holds; the price inside it can't be checked.

RWA is the market's calm corner: real shares behind the token. Our CREV audit returned a C, 32 out of 100, while Revolut itself is profitable and growing. The risk sits in the wrapper.

MANTRA's coin is mandatory for every transaction and optional for the business the chain was built for. Rating CC, 22/100 — and five questions to ask your own token before TGE.

Every Overledger license is priced in QNT, and the token market never sees it. Rating BB, 55/100, with token-product linkage at 49. Four tests for a B2B token model.

In the first 90 days of 2026 IOTA minted more than 69m tokens and burned fewer than 1m. The audit rates it A, 74/100 — and the model still dilutes holders. Why utility isn't demand.

USDC settled roughly $32 trillion in 2026 through August and Circle collected fees on almost none of it. Arc, its own Layer 1 with USDC as the gas token and twelve named institutions as validators, opens to the public on 16 September 2026. The two-asset model, and four design lessons that transfer.

Assets under management rose to $3,466b, product fees run at $57,9m a year, and what reaches the ONDO holder is $0. Fundamentals score 86,4, Token Product Linkage 16,2, total 38 out of 100. Three layers of money, a $614,97m cliff on 17 January 2027, and half the supply with no rulebook.