{"ok":true,"as_of":"2026-07-13T20:00:00.000Z","assets":[{"id":"buidl","name":"BlackRock USD Institutional Digital Liquidity Fund","ticker":"BUIDL","issuer":"BlackRock","platform":"Securitize","category":"treasuries","categoryLabel":"Treasuries","underlying":"Short-duration United States Treasury securities, cash, and repurchase agreements","summary":"A digital share class of an institutional liquidity fund. The token represents a fund interest, not direct ownership of an individual Treasury bill.","legalClaim":"Fund interest","rights":"Economic interest in the fund under its subscription documents, including distributions and redemption rights subject to eligibility and fund terms.","insolvency":"Rights depend on the fund structure, transfer agent records, custody arrangements, and governing documents. The public blockchain record is not the full legal record.","issuerControls":"Transfers are permissioned. The issuer and transfer agent can restrict, freeze, or reissue tokens under the fund terms.","custodian":"Institutional third-party custody disclosed in the fund source pack","reserveReporting":"Fund reporting and administrator records","segregated":true,"tokenizedValue":2880000000,"change30d":8.4,"yield":4.18,"fee":0.2,"price":1,"nav":1,"navSpread":0.01,"chains":["Ethereum","Aptos","Arbitrum","Avalanche","Optimism","Polygon","Solana"],"holders":93,"transferVolume":184000000,"concentration":71,"minimumInvestment":5000000,"redemption":"Daily, subject to fund terms","liquidityScore":72,"transparencyStatus":"Strongly documented","transparencyTone":"strong","investorRequirements":["Qualified purchaser","KYC","Approved wallet"],"access":{"retail":false,"accredited":false,"qualified":true,"institutional":true},"selfCustody":"Approved wallets only","defi":"Limited approved integrations","transferRestrictions":true,"risks":["High minimum investment","Concentrated holder base","Permissioned transfer layer","Fund and custodian dependence"],"unresolved":["Public holder counts do not reveal beneficial-owner diversity","Secondary liquidity remains venue-dependent"],"evidence":[{"id":"B1","label":"Fund offering documents","type":"Legal","status":"Reviewed","date":"2026-07-12"},{"id":"B2","label":"Issuer product disclosure","type":"Issuer","status":"Confirmed","date":"2026-07-13"},{"id":"B3","label":"Verified contract registry","type":"On-chain","status":"Confirmed","date":"2026-07-13"},{"id":"B4","label":"Transfer and holder snapshot","type":"On-chain","status":"Observed","date":"2026-07-13"}]},{"id":"usyc","name":"US Yield Coin","ticker":"USYC","issuer":"Circle International Bermuda Limited","platform":"Hashnote","category":"treasuries","categoryLabel":"Treasuries","underlying":"Short-duration United States government securities and overnight repurchase agreements","summary":"A token designed to pass through yield from a regulated short-duration government money market strategy through a tokenized fund structure.","legalClaim":"Tokenized fund share","rights":"A contractual interest in the issuing fund structure with mint and redemption rights available through approved channels.","insolvency":"Recovery depends on the legal entity, custody segregation, fund documents, and recognition of the official shareholder record.","issuerControls":"Permissioned minting, redemption, and transfer controls apply.","custodian":"Institutional custody disclosed in the fund materials","reserveReporting":"Fund NAV and portfolio reporting","segregated":true,"tokenizedValue":1250000000,"change30d":15.7,"yield":4.09,"fee":0.2,"price":1.08,"nav":1.08,"navSpread":0.03,"chains":["Ethereum","Solana","Canton"],"holders":148,"transferVolume":126000000,"concentration":64,"minimumInvestment":100000,"redemption":"Daily through approved counterparties","liquidityScore":76,"transparencyStatus":"Strongly documented","transparencyTone":"strong","investorRequirements":["KYC","Eligible jurisdiction","Approved counterparty"],"access":{"retail":false,"accredited":true,"qualified":true,"institutional":true},"selfCustody":"Approved wallets","defi":"Approved integrations","transferRestrictions":true,"risks":["Counterparty onboarding","Permissioned redemption","Limited public secondary market","Jurisdiction limits"],"unresolved":["Public wallet activity may include operational wallets","Investor access varies by distribution partner"],"evidence":[{"id":"U1","label":"Fund and issuer disclosures","type":"Legal","status":"Reviewed","date":"2026-07-11"},{"id":"U2","label":"Product terms and access rules","type":"Issuer","status":"Confirmed","date":"2026-07-13"},{"id":"U3","label":"Contract deployment registry","type":"On-chain","status":"Confirmed","date":"2026-07-13"},{"id":"U4","label":"NAV and transfer snapshot","type":"Market","status":"Observed","date":"2026-07-13"}]},{"id":"ousg","name":"Ondo Short-Term US Government Treasuries","ticker":"OUSG","issuer":"Ondo Finance","platform":"Ondo","category":"treasuries","categoryLabel":"Treasuries","underlying":"Short-duration United States Treasury exposure through institutional fund holdings","summary":"A tokenized fund product designed to provide qualified investors with on-chain access to short-duration Treasury exposure.","legalClaim":"Fund interest","rights":"Economic and redemption rights arise under the fund and subscription documents. The token is a representation of the fund interest.","insolvency":"Holder recovery depends on the issuing vehicle, portfolio custody, and governing documents rather than the token contract alone.","issuerControls":"Approved participants and wallets are subject to transfer and redemption controls.","custodian":"Institutional fund custody","reserveReporting":"Daily indicative value with periodic fund reporting","segregated":true,"tokenizedValue":790000000,"change30d":11.2,"yield":4.25,"fee":0.35,"price":112.46,"nav":112.43,"navSpread":0.03,"chains":["Ethereum","Solana","Polygon"],"holders":241,"transferVolume":62000000,"concentration":58,"minimumInvestment":100000,"redemption":"Daily, subject to cutoffs and onboarding","liquidityScore":78,"transparencyStatus":"Adequately documented","transparencyTone":"good","investorRequirements":["Accredited or qualified investor","KYC","Approved wallet"],"access":{"retail":false,"accredited":true,"qualified":true,"institutional":true},"selfCustody":"Approved wallets","defi":"Selected integrations","transferRestrictions":true,"risks":["Eligibility limits","Fund-structure dependence","Redemption cutoffs","Secondary liquidity fragmentation"],"unresolved":["Venue-level liquidity is uneven across chains","Public sources do not fully map beneficial owners"],"evidence":[{"id":"O1","label":"Fund disclosures","type":"Legal","status":"Reviewed","date":"2026-07-12"},{"id":"O2","label":"Issuer redemption terms","type":"Issuer","status":"Confirmed","date":"2026-07-13"},{"id":"O3","label":"Multichain contract registry","type":"On-chain","status":"Confirmed","date":"2026-07-13"},{"id":"O4","label":"Transfer and NAV snapshot","type":"Market","status":"Observed","date":"2026-07-13"}]},{"id":"benji","name":"Franklin OnChain U.S. Government Money Fund","ticker":"BENJI","issuer":"Franklin Templeton","platform":"Franklin Templeton","category":"money-markets","categoryLabel":"Money markets","underlying":"United States government securities, cash, and repurchase agreements","summary":"A regulated money market fund whose official share ownership record is maintained through blockchain-integrated transfer-agent technology.","legalClaim":"Registered fund share","rights":"A share in a registered money market fund with rights defined by the prospectus and transfer-agent record.","insolvency":"The fund is legally distinct from the sponsor, but outcomes still depend on the fund portfolio, custody, and applicable law.","issuerControls":"Transfer-agent controls and investor eligibility rules apply to account access and transfers.","custodian":"Fund custodian disclosed in the prospectus","reserveReporting":"Registered fund reporting and daily NAV","segregated":true,"tokenizedValue":840000000,"change30d":6.9,"yield":4.12,"fee":0.2,"price":1,"nav":1,"navSpread":0,"chains":["Stellar","Polygon","Arbitrum","Avalanche","Base"],"holders":522,"transferVolume":21000000,"concentration":46,"minimumInvestment":20,"redemption":"Business-day fund redemption","liquidityScore":81,"transparencyStatus":"Strongly documented","transparencyTone":"strong","investorRequirements":["KYC","Supported account","Eligible jurisdiction"],"access":{"retail":true,"accredited":true,"qualified":true,"institutional":true},"selfCustody":"Platform and approved wallet support","defi":"Limited","transferRestrictions":true,"risks":["Transfer-agent controls","Platform access limits","Fund yield changes with rates","Not a bank deposit"],"unresolved":["Wallet portability varies by distribution route","Chain support does not imply unrestricted transfer"],"evidence":[{"id":"F1","label":"Registered fund prospectus","type":"Legal","status":"Reviewed","date":"2026-07-12"},{"id":"F2","label":"Fund portfolio disclosure","type":"Fund","status":"Confirmed","date":"2026-07-13"},{"id":"F3","label":"Transfer-agent chain registry","type":"On-chain","status":"Confirmed","date":"2026-07-13"},{"id":"F4","label":"Daily NAV record","type":"Market","status":"Observed","date":"2026-07-13"}]},{"id":"usdy","name":"Ondo U.S. Dollar Yield","ticker":"USDY","issuer":"Ondo Finance","platform":"Ondo","category":"treasuries","categoryLabel":"Treasuries","underlying":"Short-term United States Treasuries and bank demand deposits","summary":"A yield-bearing token structured as a secured note rather than a direct fund share or Treasury bond.","legalClaim":"Secured debt claim","rights":"A contractual payment claim against the issuer, secured by the referenced collateral under the note documents.","insolvency":"Recovery depends on security interests, collateral custody, enforcement mechanics, and the issuer structure.","issuerControls":"Transfer restrictions, eligibility checks, and redemption procedures apply.","custodian":"Collateral custodian disclosed in the note documents","reserveReporting":"Collateral and product reporting","segregated":true,"tokenizedValue":680000000,"change30d":18.3,"yield":4.35,"fee":0.5,"price":1.14,"nav":1.14,"navSpread":0.08,"chains":["Ethereum","Solana","Mantle","Aptos"],"holders":1840,"transferVolume":84000000,"concentration":42,"minimumInvestment":500,"redemption":"Daily after applicable seasoning period","liquidityScore":69,"transparencyStatus":"Adequately documented","transparencyTone":"good","investorRequirements":["KYC","Non-restricted jurisdiction","Approved wallet"],"access":{"retail":true,"accredited":true,"qualified":true,"institutional":true},"selfCustody":"Approved wallets","defi":"Selected integrations","transferRestrictions":true,"risks":["Debt claim rather than fund ownership","Issuer and collateral-agent dependence","Redemption seasoning","Jurisdiction restrictions"],"unresolved":["Access rules differ by jurisdiction","DeFi composability may add protocol risk outside the issuer structure"],"evidence":[{"id":"D1","label":"Secured note documents","type":"Legal","status":"Reviewed","date":"2026-07-11"},{"id":"D2","label":"Collateral disclosure","type":"Custody","status":"Confirmed","date":"2026-07-13"},{"id":"D3","label":"Contract registry","type":"On-chain","status":"Confirmed","date":"2026-07-13"},{"id":"D4","label":"Price and transfer snapshot","type":"Market","status":"Observed","date":"2026-07-13"}]},{"id":"paxg","name":"PAX Gold","ticker":"PAXG","issuer":"Paxos Trust Company","platform":"Paxos","category":"commodities","categoryLabel":"Commodities","underlying":"Allocated London Good Delivery gold held in professional vault custody","summary":"A regulated gold-backed token intended to represent beneficial ownership of specific allocated physical gold.","legalClaim":"Beneficial ownership claim","rights":"Token holders receive contractual beneficial ownership rights tied to allocated gold, with redemption routes subject to terms and minimums.","insolvency":"The legal treatment depends on trust-company custody, asset segregation, customer terms, and applicable insolvency law.","issuerControls":"The regulated issuer can freeze or seize tokens when legally required and controls primary issuance and redemption.","custodian":"Professional London vault network","reserveReporting":"Monthly attestation and bar allocation lookup","segregated":true,"tokenizedValue":1050000000,"change30d":4.8,"yield":0,"fee":0.02,"price":2428.7,"nav":2424.1,"navSpread":0.19,"chains":["Ethereum"],"holders":50700,"transferVolume":38000000,"concentration":34,"minimumInvestment":25,"redemption":"Token, cash, or physical gold subject to route and minimum","liquidityScore":87,"transparencyStatus":"Strongly documented","transparencyTone":"strong","investorRequirements":["Venue or issuer KYC for primary redemption"],"access":{"retail":true,"accredited":true,"qualified":true,"institutional":true},"selfCustody":"Yes","defi":"Broad third-party integrations","transferRestrictions":false,"risks":["Gold price risk","Issuer control rights","Physical redemption minimums","Third-party DeFi risk"],"unresolved":["Secondary-market holders may not have direct issuer onboarding","Market price can deviate from metal value and redemption economics"],"evidence":[{"id":"P1","label":"Issuer customer terms","type":"Legal","status":"Reviewed","date":"2026-07-12"},{"id":"P2","label":"Gold allocation and attestation","type":"Custody","status":"Confirmed","date":"2026-07-13"},{"id":"P3","label":"Verified token contract","type":"On-chain","status":"Confirmed","date":"2026-07-13"},{"id":"P4","label":"Market and holder snapshot","type":"Market","status":"Observed","date":"2026-07-13"}]},{"id":"xaut","name":"Tether Gold","ticker":"XAUT","issuer":"TG Commodities Limited","platform":"Tether","category":"commodities","categoryLabel":"Commodities","underlying":"Allocated physical gold bars held in Swiss vault custody","summary":"A gold-backed token linked to allocated physical gold, with ownership and redemption governed by issuer terms rather than token code alone.","legalClaim":"Contractual gold ownership claim","rights":"A contractual entitlement linked to allocated gold ounces, subject to issuer account, redemption, and delivery rules.","insolvency":"Enforcement depends on issuer terms, custody segregation, governing law, and the holder's relationship with the issuer.","issuerControls":"Primary issuance, redemption, and compliance actions remain controlled by the issuer.","custodian":"Swiss vault custody disclosed by issuer","reserveReporting":"Bar allocation and periodic reserve reporting","segregated":true,"tokenizedValue":820000000,"change30d":3.1,"yield":0,"fee":0.25,"price":2432.2,"nav":2424.1,"navSpread":0.33,"chains":["Ethereum","TON"],"holders":10200,"transferVolume":19000000,"concentration":49,"minimumInvestment":50,"redemption":"Physical delivery subject to account and minimum requirements","liquidityScore":77,"transparencyStatus":"Material questions remain","transparencyTone":"caution","investorRequirements":["Issuer account for primary redemption","KYC"],"access":{"retail":true,"accredited":true,"qualified":true,"institutional":true},"selfCustody":"Yes","defi":"Third-party integrations","transferRestrictions":false,"risks":["Issuer jurisdiction","Redemption minimums","Concentrated ownership","Third-party venue dependence"],"unresolved":["Public disclosure depth is uneven across custody and redemption topics","Secondary holders may lack direct redemption access"],"evidence":[{"id":"T1","label":"Issuer token terms","type":"Legal","status":"Reviewed","date":"2026-07-10"},{"id":"T2","label":"Gold allocation report","type":"Custody","status":"Confirmed","date":"2026-07-12"},{"id":"T3","label":"Verified token contracts","type":"On-chain","status":"Confirmed","date":"2026-07-13"},{"id":"T4","label":"Market and holder snapshot","type":"Market","status":"Observed","date":"2026-07-13"}]},{"id":"aapl-x","name":"Apple Tokenized Stock Reference","ticker":"AAPLx","issuer":"Third-party tokenization vehicle","platform":"Reference product","category":"equities","categoryLabel":"Equities","underlying":"Economic exposure linked to Apple common stock","summary":"A representative third-party tokenized stock structure. It may track Apple shares without making the token holder a shareholder of Apple Inc.","legalClaim":"Third-party linked instrument","rights":"Contractual economic exposure through the issuing vehicle. Direct Apple voting, transfer-agent, and shareholder rights are not assumed.","insolvency":"The holder depends on the issuing vehicle, broker or custodian, and contractual enforcement. The underlying issuer may owe nothing to the token holder.","issuerControls":"Trading windows, wallet controls, geography blocks, and redemption procedures may be imposed by the token issuer.","custodian":"Third-party broker and custodian structure","reserveReporting":"Issuer disclosure and periodic backing statements","segregated":false,"tokenizedValue":550000000,"change30d":27.6,"yield":0.48,"fee":0.5,"price":259.42,"nav":254.81,"navSpread":1.81,"chains":["Solana","Arbitrum"],"holders":18400,"transferVolume":72000000,"concentration":61,"minimumInvestment":5,"redemption":"Issuer-dependent conversion or cash redemption","liquidityScore":63,"transparencyStatus":"High counterparty dependence","transparencyTone":"caution","investorRequirements":["Eligible non-US jurisdiction","KYC","Approved venue"],"access":{"retail":true,"accredited":true,"qualified":true,"institutional":true},"accessNote":"Not presented as available to United States persons","selfCustody":"Product-dependent","defi":"Selected integrations","transferRestrictions":true,"risks":["No direct Apple shareholder rights","Issuer and custodian dependence","Price-to-NAV premium","Jurisdiction restrictions"],"unresolved":["Legal rights vary materially among similarly named stock tokens","Corporate-action pass-through requires product-specific review"],"evidence":[{"id":"A1","label":"Representative token terms","type":"Legal","status":"Prototype","date":"2026-07-13"},{"id":"A2","label":"Backing statement model","type":"Custody","status":"Prototype","date":"2026-07-13"},{"id":"A3","label":"Reference contract data","type":"On-chain","status":"Prototype","date":"2026-07-13"},{"id":"A4","label":"Underlying price comparison","type":"Market","status":"Prototype","date":"2026-07-13"}]}],"metrics":{"distributedValue":27700000000,"representedValue":441000000000,"stablecoinValue":299000000000,"treasuryValue":10900000000,"trackedAssets":8,"evidenceObjects":32}}