Conflux co-founder accuses RWA.XYZ of malicious data fabrication and capital manipulation

According to Odaily, Conflux co-founder Forgiven posted on X stating that after a recent revamp, RWA.XYZ introduced two new industry definitions to facilitate data fabrication and disclosure of real data, replacing the previous single industry-wide data metric:

Reported Asset Value: The value of represented assets, meaning RWA assets for which digital asset certificates have been issued on-chain using blockchain as a ledger, but without actual on-chain transfers or distribution activities. The current amount is 410 billions USD;

Distributed Asset Value: The value of distributed assets, referring to RWA assets that use on-chain protocols and exchanges connected to public blockchains as distribution layers, allowing investors to directly or indirectly subscribe to and hold these assets via wallets or custodians. The current amount is 18 billions USD.

Of the widely publicized 410 billions USD figure, about 91% comes from assets issued on the private chain Canton (Guangdong Chain), and another approximately 14 billions USD comes from Figure’s self-developed private chain Provenance, where home equity line of credit (HELOC) products are issued. These assets have almost no direct connection to the crypto market and are merely "private chain ledger tokens." Distributed Asset Value (18 billions USD) better reflects the real demand structure of the RWA industry.

Forgiven cautioned not to blindly trust Wall Street or so-called white paper endorsements, as these are often capital-driven schemes in disguise, and the "scythes" are very sharp. Data websites collaborating in these schemes have benefited from crypto traffic and dividends.