Research Gaps

Open Questions & Future Research

Areas requiring further investigation and data collection. These gaps represent opportunities for future research and due diligence.

6 open questions•1 critical•3 high priority

Depth of Secondary Liquidity

High

How liquid are tokenized assets in practice? We lack transparent data on daily trading volumes and bid-ask spreads for many RWA tokens. Most trading happens OTC or through issuer platforms.

Data needed: Trading volumes, spread data, market depth

Regulatory Outcomes

Critical

The trajectory to 2030 depends heavily on regulatory developments that are uncertain. How will the SEC treat tokenized equities? Will Europe's MiCA framework prove workable?

Data needed: Regulatory guidance, court decisions, legislative updates

Performance in Different Market Regimes

High

How might RWAs perform in edge cases like rapid interest rate changes, credit events, or blockchain network congestion? Empirical data is thin because tokenized markets haven't been through many cycles.

Data needed: Historical stress test data, correlation during crises

Smart Contract & Custody Risks

Medium

What are the actual failure modes for tokenized assets? We lack data on incidents, near-misses, and recovery mechanisms across different platforms and custody solutions.

Data needed: Incident reports, audit findings, insurance claims

DAO Governance for RWA Allocation

Medium

How effectively can DAOs make complex investment decisions? What governance frameworks work best for managing off-chain assets with on-chain voting?

Data needed: Case studies, voting participation, decision outcomes

Tax & Accounting Treatment

High

How should tokenized assets be classified for tax and accounting purposes? Jurisdictional differences create compliance complexity for global investors.

Data needed: Tax guidance, accounting standards, case law