Lendr
RWAL
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
RWAL (Lendr.fi) presents an early-stage real-world asset (RWA) protocol with mixed fundamentals. On the positive side, the security profile benefits from historical audits by SolidProof, Certik, and inherited Liquity codebase audits from Trail of Bits and Coinspect, with no recorded exploits, depegs, or regulatory actions to date. The team is public and named. However, the project exhibits significant weaknesses: active development transparency is low following its September 2025 TGE, community engagement across social and governance channels is virtually nonexistent (scoring 1.5/10), and tokenomics remain constrained by an opaque vesting schedule for the ~95% non-circulating supply. Note: The Market and Use Case section lacked sufficient data (-1.0) and was excluded from scoring, with its weight redistributed across the remaining categories. No qualifying red-flag events were triggered.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Lendr (RWAL)
RWAL is the governance and utility token of Lendr.fi, a protocol designed to offer zero-percent interest loans and real-world asset (RWA) stablecoins. Originating as a fork of the Liquity codebase, the token was deployed on Binance Smart Chain following a token generation event (TGE) in September 2025 across launch platforms including SeaFi, KingdomStarter, Spores Network, and BSCS. Within the protocol, RWAL is designed to serve as a staking asset for earning a share of RWA performance fees, participating in governance, and providing a tail-risk recapitalization backstop.
The project is led by a publicly named team, including Nathaji Metivier, Arun Subramanian, and Al Leong. RWAL has a fixed total supply of 1 billion tokens, with approximately 50.89 million tokens entering circulation at the time of launch. Lendr's security background includes internal audits conducted in May 2023 and external audits by SolidProof and CertiK in mid-2023, alongside inherited audits of the base Liquity codebase by Trail of Bits and Coinspect. No exploits, smart contract hacks, depegs, or regulatory enforcement actions have been reported for the protocol.
The protocol presents several operational and transparency risks. Verifiable development activity is limited, centered on a single public GitHub repository that lacks recorded commit cadence or published post-launch milestones. Governance and community engagement remain minimal, with no verifiable records of active DAO proposals or community forum activity post-TGE. Furthermore, the tokenomics feature an opaque vesting schedule for the approximately 95% non-circulating token supply, and documentation reflects audit staleness from 2023 alongside network discrepancies between the project's documentation and its Binance Smart Chain deployment.