The RWA token is the governance token to the re.al ecosystem. RWA will exist unlocked as RWA (ERC-20) and locked as veRWA (ERC-721). When locked into veRWA it will provide holders two primary benefits:

  1. Value Accrual: Transaction fee revenue, RWA sales tax and revenue share from the protocols building on the chain will return to veRWA holders.

  2. Governance Rights: Help determine the future of re.al through future governance votes

$RWA is the first L2 token to comprehensively capture of the value of the chain and return it to holders.

All revenue to veRWA is distributed in reETH.

veRWA positions will eventually be traded in the Tangible veRWA Marketplace and future NFT marketplaces supporting re.al and veRWA.




Token Type

ERC-20, Native

Total Supply

33,303,472 at deployment

Inflation Schedule

Negative, deflationary tokenomics



Contract Address





RWA is a migrated version of the TNGBL token, the governance token of TangibleDAO, and it inherits several features from its pervious iteration. However, the RWA token also includes several new mechanism including updated vote escrow contract tokenomics and a taxing system implemented on buys & sells.

All TNGBL tokens can migrate to RWA in a 1:1 exchange; the RWA supply will never exceed the total supply for TNGBL at the moment RWA deploys.

Users will not be forced to migrate and migration will not be deprecated prior to the last TNGBL unlock on April 13th, 2026. After that date, migration will only be closed through a governance vote.

Full migration details here.

TNGBL tokens can migrate their tokens to RWA via the migration page which will deploy when the chain goes live.

More details on the TNGBL token can be found in the Tangible Docs.

Tokenomics Overview

Locked veRWA is designed to accrue revenue from the protocols building on re.al, with all protocols incentivized to send a share of their revenue to RWA token lockers. reETH transaction fees as well as a portion of the sales tax on RWA trades will be shared with veRWA holders.


  1. All chain revenues from re.al will be distributed proportionally to veRWA holders in reETH, based on voting power.

  2. No new RWA can be minted.

  3. The entire supply of RWA, either locked or unlocked, is in circulation. There are no future team or VC unlocks.

  4. RWA is deflationary.

    1. When veRWA positions are unlocked early, a penalty is applied and those tokens are burned.

    2. A tax is charged on buys and sells with a portion of the tax being burned.

  5. RWA's locking mechanism is similar to that of the Solidly aka ve(3,3) model, where the more RWA you have locked and the longer period you lock for, the greater the veRWA voting power.

  6. veRWA remains perpetually locked at the selected duration unless deposited into the vesting contract. Once deposited into the vesting contract, voting power reduces linearly with the lock duration until it reaches zero, at which point the underlying tokens can be removed.

  7. veRWA NFTs can be split and merged, allowing users full flexibility over their positions.

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