About the Bounty

Real-World Assets (RWAs) are an integral primitive in bringing traditional financial assets onchain, and they are accelerating on Solana. Here’s an overview of how things stand:

• RWA tokenization has exploded from $5B in 2022 to over $24B by June 2025 (+380%)

• The Tokenized Treasury bills market has grown from $100 million in January 2023 to approximately $7.5 billion by June 2025

• Solana is currently the number one chain for transaction volume per holder at ~$40M

• Institutions are here — BlackRock’s $2.9 B BUIDL MMF and Franklin Templeton’s FOBXX are on Solana

• Platforms like Ondo, Maple, and VNX are leading the charge in tokenizing assets

• R3’s Corda — used by HSBC, SDX, and Euroclear to move $10B+ in tokenized assets — is integrating with Solana.

• Jupiter and Kazakhstan's Stock Exchange signed a memorandum for developing dual listings — allowing companies to go public through a traditional IPO while also listing tokenized shares in parallel on Solana.

Your mission is to write a comprehensive deep dive about the state of RWAs on Solana. The ideal submission will:

1. Present an overview of key network-level metrics and comment on trends

2. Highlight and explain all key product developments, partnerships, and integrations related to RWAs

3. Draw out an ecosystem map highlighting distinct sectors within the RWA arena and the key players in it

4. Compare and contrast regulatory approaches across the world and draw common trends and predictions for the future

5. Suggest & develop interesting opportunities or product use cases with RWAs

6. Sound opinionated and interesting vs just being an information dump

Other Evaluation Criteria

In addition to the criteria shared above, our judges will use the following criteria will judge your submissions:

• Did you write a compelling introduction and a satisfying conclusion?

• Is your writing easy and fun to read?

• Did you avoid overly complex jargon?

• Did you explain concepts in a way a person new to crypto could understand?

Submission Requirements

• Your submission needs to be structured as a blog, essay, or report on a public platform like Substack, Medium, or even the X article composer. Twitter thread formats are not acceptable for this bounty.

• Your essay should be written in English.

• Your submission should be at least 1,000 words. Note that typical bounty winners are ~2,000 words.

• You should include links to your sources under the title “References”. If you have used external sources and no references are included, your bounty could be rejected on the grounds of plagiarism.

AI Assistants

You are welcome and encouraged to use AI assistants for research, feedback, and improving the quality of your submission. Participants should focus on adding their own narrative, insights, and opinions to the submission. We’d strongly advise against just submitting the AI output served against this bounty as a prompt because we already generated that and linked it below for your reference :)

Resources

• Solana’s RWA Metrics

• RWA assets in onchain finance report

• Regulatory Approach towards Tokenisation of Real-World Assets by IFSCA

• Nandan Nilekani’s India 2035 talk at Arkam Annual Meet

• Reflexivity’s Overview of RWAs on Solana 2024

• This bounty, as written by ChatGPT-o3

• Deep Dive Guidelines

Terms

Participation in this bounty is entirely voluntary. Bounties are a way to learn and dabble in opportunities to build in web3. These are neither full time jobs nor project based engagement. Please be advised that the sponsors will not have time for individualized feedback due to the number of entries we receive.