Documentation Index
Fetch the complete documentation index at: https://docs.areal.finance/llms.txt
Use this file to discover all available pages before exploring further.
What Areal Builds
Areal is a full-stack on-chain protocol for launching, governing, and scaling real-world asset projects. The protocol provides unified infrastructure where RWA projects can issue Ownership Tokens, connect to shared liquidity, distribute yield to holders, and govern their assets through market-driven mechanisms — all without building custom infrastructure from scratch. Areal operates as a protocol layer, not as a custodial platform, fund, or asset manager.Three Pillars of Architecture
Areal’s architecture rests on three tightly integrated systems. Each one is designed to serve the unique demands of real-world assets — long investment horizons, real revenue, legal enforceability, and transparent capital allocation.Governance & Futarchy
Market-driven decision-making that replaces subjective voting with economic signals
Native DEX
A specialized exchange for yield-bearing tokens where LPs earn real-world yield, not just swap fees
Yield Distribution
No-staking reward system — hold tokens, earn rewards every second, claim in RWT
Governance & Futarchy
Every DAO Ownership Company on Areal is governed through futarchy — a framework where proposals are evaluated by conditional markets, not by votes. For each proposal, two markets open: one pricing the token if the proposal passes, another if it fails. Traders express their expectations by trading, and the outcome is determined by comparing time-weighted average prices (TWAPs). This ensures that decisions are backed by real economic stakes, not rhetoric. Futarchy is purpose-built for RWA because real assets demand disciplined, outcome-oriented governance over long-term capital.Deep dive: Governance & Futarchy
How decision markets work, why markets beat votes, and how Areal applies futarchy to RWA projects
Native DEX
Areal’s decentralized exchange is built specifically for yield-bearing tokens. Unlike standard AMMs, the Areal DEX passes through the embedded yield of tokens in liquidity pools to LP providers — on top of regular swap fees. The DEX supports two pool types:- Monotonic Ladder pools (single-sided, bin-based) — for RWT / USDY and RWT / USDC master pools. Nexus LP provides USDC only; RWT ask-side is organic (from user sells) or synthetic (routed to
mint_rwtwhen DEX is non-competitive). - Standard curve pools (x * y = k) — for RWT / Ownership Token pairs and RWT / third-party assets (tokenized equities, blue-chip tokens)
claim_lp_fees.
Deep dive: Liquidity & Native DEX
Yield pass-through mechanics, pool types, fee structure, and how the DEX drives the Areal economy
Yield & Reward Distribution
Areal implements a no-staking reward model for Ownership Token holders. Simply holding OTs in your wallet is enough — the protocol tracks balances and accrues rewards every second. The process: a project DAO allocates revenue → funds are split 50/50 into RWT and USDY → deposited into the master liquidity pool for 12 months → earn additional yield from swap fees and token appreciation → withdrawn daily and distributed to holders in RWT. This mechanism amplifies rewards during distribution, unifies payouts across all projects, and strengthens the RWT economy.Deep dive: Yield & Reward Distribution
No-staking architecture, distribution flow, yield amplification through liquidity, and aggregated portfolio
How It All Connects
The three pillars form a self-reinforcing system:Governance decides how revenue is allocated → Yield Distribution deploys funds into the DEX → the DEX generates fee revenue back into GovernanceThis creates a flywheel: better governance → smarter capital allocation → deeper liquidity → more trading volume → more fee revenue → more resources for governance and distribution.
Protocol Tokens
These three architecture pillars power the economic life of Areal’s token ecosystem:RWT - Real World Token
The primary utility token — aggregates yield from multiple RWA projects through a diversified vault of Ownership Tokens
Ownership Tokens
Project-specific tokens backed by a DAO Ownership Company — real ownership of tangible and intangible assets
ARL - Protocol Token
The governance token of Areal DAO — used for protocol-level decision-making and ecosystem coordination
How It Works in Practice
This is what the Areal experience looks like for someone who wants to build wealth, not trade:Choose your exposure
Decide how you want to participate: RWT for diversified, vault-backed exposure to the entire portfolio — or specific Ownership Tokens for direct exposure to individual projects.
Capital works for you
Real-world assets generate revenue. That revenue flows through the protocol — growing RWT’s NAV Book Value, distributing yield to OT holders, and funding the Treasury.
Compound without effort
70% of RWT Vault yield is credited to book value automatically. Your position appreciates as real income flows in — no harvesting, no restaking, no manual compounding.
Governance handles the rest
Which assets to acquire, how to allocate capital, when to rebalance — all managed through futarchy governance by the community. You participate if you want, or simply hold and benefit.
Who Areal Is For
RWA projects
Launch with ready-made infrastructure — DAO governance, liquidity pools, yield distribution, and treasury management. No need to build from scratch.
Token holders
Earn real-world yield by holding tokens. Participate in governance through markets. Access diversified RWA exposure via RWT.
Liquidity providers
Earn swap fees plus embedded token yield. Provide liquidity to yield-bearing pairs that generate returns from both sides.
Design Boundaries
Areal does
Provide non-custodial on-chain infrastructure. Coordinate liquidity and incentives. Execute governance-approved actions. Distribute yield transparently.
Areal does not
Guarantee returns or yields. Provide investment advice. Control project-specific business operations. Hold custody of user assets.