Glossary, reviewed
RWA and tokenization glossary: 20 terms explained
This tokenization glossary defines 20 terms used across MANTRA Chain's pages, each in one sentence first and then in 40 to 60 words with an example. It covers the assets (RWA, ARVA, security token), the legal wrappers (SPV, custodian, redemption), the technology (Layer 1, EVM, ERC-3643, allow-list) and the network (validator, staking, unbonding).
For information only. Not investment advice. Longer explanations are in the learn hub, and questions about the company, the coin and the August 2026 incident are answered in the MANTRA Chain FAQ.
Definitions reviewed , sources the Dubai issuance rulebook and mantrachain.io
Assets and tokens
Real-world asset (RWA)
In crypto, a real-world asset (RWA) is an off-chain asset, such as property, a fund unit or a loan, that is represented by a token.
The token is a record. The rights behind it come from the legal structure the issuer sets up, so two tokens for similar assets can give different claims. MANTRA's live home page positions the network as an EVM-compatible Layer 1 blockchain for RWAs. The steps from asset to token are in the full guide to RWA tokenization.
Tokenization and tokenized asset
Tokenization is the process of recording rights in an asset as a token on a blockchain; a tokenized asset is the result.
The work has a legal half and a technical half. The issuer first fixes what a holder owns, often through a company or a fund, and then creates tokens that follow those terms. On MANTRA Chain the token can be an EVM contract or a CosmWasm contract. The technical half is described on the RWA tokenization platform page.
Asset-referenced virtual asset (ARVA)
An asset-referenced virtual asset (ARVA) is Dubai's rulebook term for a token that represents ownership of, income from, or value backed by a real-world asset.
The definition is in Schedule 2 of the Virtual Asset Issuance Rulebook and excludes fiat-referenced tokens. Issuing an ARVA is a Category 1 issuance: it needs a licence, and Annex 2 sets the rules. The register entry for Mantra Finance FZE, VARA VASP Licence VL/25/02/001, lists no Category 1 VA Issuance activity. See how the UAE regulates tokenization.
Security token and utility token
A security token represents an investment, such as a share or fund unit; a utility token gives access to a network or service.
The label follows the rights a token gives and the law where it is sold, not the technology, so one token can be classed differently in two countries. The MANTRA coin pays network fees and is staked with validators; how it is classed is a separate question in each jurisdiction. See the guide to RWA tokenization rules in the UAE.
Register read , source public register entry VL/25/02/001 and the site Terms
Legal structure and market roles
Issuer
An issuer is the legal person that creates a token and is responsible for the rights and disclosures attached to it.
A blockchain is not the issuer of the tokens deployed on it. MANTRA Chain Association operates the MANTRA Chain blockchain, and the site's Terms say it offers no products or services. The issuer of an asset token is the company named in its offering documents. The real estate tokenization page sets out the roles in a property deal.
Special purpose vehicle (SPV)
A special purpose vehicle (SPV) is a company set up for one purpose, such as holding a single asset on behalf of investors.
In many structures the SPV owns the asset and each token is a share in, or a claim on, the SPV, so a holder's rights depend on its documents. An SPV could, for example, own a building and record its shares as tokens on MANTRA Chain. The guide to how a tokenized property is structured shows where legal title sits.
Custodian
A custodian is a firm that holds assets, or the keys that control them, on behalf of their owners.
Tokenization raises two custody questions: who holds the underlying asset or its title, and who holds the keys to the tokens. MANTRA's page for institutions describes custodial integrations with regulated digital asset custodians across multiple regions. A token's offering documents should name its custodian. See real estate tokenization in Dubai for the roles in a property deal.
Redemption
Redemption is the process by which a holder returns a token to the issuer and receives the underlying asset or its cash value.
Not every token can be redeemed. The terms say who may redeem, at what price, how often and at what cost; some tokens offer only a sale to another approved buyer. A token on MANTRA Chain follows the terms its issuer wrote into the offering and the contract. Exit routes for property are in how real estate tokenization works.
Virtual asset service provider (VASP)
A virtual asset service provider (VASP) is a business that carries out activities such as exchange, brokerage or custody of virtual assets for clients.
In Dubai the Virtual Assets Regulatory Authority (VARA) licenses VASPs by activity. For example, Mantra Finance FZE is licensed by VARA under VASP Licence VL/25/02/001 for Exchange Services, Broker-Dealer Services and Management and Investment Services. MANTRA Chain Association, which operates the blockchain, is not licensed by VARA. The register fields are set out under licence details.
White paper (MiCA)
Under the EU's MiCA regulation, a crypto-asset white paper is the disclosure document an offeror publishes before offering a crypto-asset to the public.
Article 6 of Regulation (EU) 2023/1114 sets its content and form. A white paper is a disclosure, not an approval by any authority. For example, MANTRA publishes a MiCA Article 6 white paper for the European Union market as an Inline XBRL document at mantrachain.io/whitepaper/. It is summarised in the white paper section of the MANTRA token page.
Announcement read , sources MANTRA's EVM announcement and the Ethereum Improvement Proposals site
Technology and standards
Layer 1 blockchain
A Layer 1 blockchain is a base network that orders and settles transactions with its own validators, without relying on another chain.
Applications and Layer 2 networks are built on top of it. MANTRA Chain is a Layer 1 built on the Cosmos SDK. Its mainnet has been live since 23 October 2024, and NVNM Chain, operated by Inveniam, is described as a Layer 2 on it. The home page explains what MANTRA Chain is and who runs it.
EVM
The EVM (Ethereum Virtual Machine) is the runtime that executes smart contracts written for Ethereum and for chains compatible with it.
A chain that runs the EVM can reuse Ethereum contracts, wallets and developer tools. MANTRA Chain has been EVM-compatible since 17 September 2025, and MANTRA's announcement lists MetaMask, Hardhat and Truffle among the compatible tooling. In the week to 4 October 2026 the EVM carried 21.70% of transactions. The tokenization platform page covers the stack.
CosmWasm
CosmWasm is a smart-contract platform for Cosmos SDK chains that runs contracts compiled to WebAssembly, usually written in Rust.
It is the Cosmos-native counterpart to the EVM. MANTRA Chain supports CosmWasm alongside the EVM, so a project can deploy either kind of contract on the same network and reach other Cosmos chains over IBC. Which one a team picks usually follows its existing code and tooling. Both routes are described for builders on the MANTRA Chain platform page.
ERC-3643
ERC-3643 is an Ethereum token standard for permissioned tokens, published under the title T-REX, Token for Regulated EXchanges.
A token built to it checks on-chain identities for eligibility before a transfer goes through, which suits securities and other restricted assets. MANTRA's EVM announcement lists ERC-3643 among the standards available on MANTRA Chain, with ERC-20 and ERC-721. The specification is EIP-3643 on the Ethereum Improvement Proposals site. An allow-list is the simplest form of the same idea.
Allow-list
An allow-list is a list of wallet addresses approved to hold or receive a token; transfers to any other address are refused.
The issuer, or an agent it appoints, adds an address after checks such as identity verification and can remove it later. On MANTRA Chain the token contract itself can enforce the list, for example through a permissioned standard such as ERC-3643, so the rule applies to every transfer. See how compliance works on the tokenization platform.
Permissioned and permissionless
A permissionless network lets anyone transact and build without approval; a permissioned network or token restricts participation to approved parties.
The two can be combined. MANTRA's live tagline is "Permissionless Chain for Permissioned Applications": anyone can read the chain and send transactions, while an application on it can restrict who holds or trades a given token. That lets an issuer apply investor rules without running a private network. The MANTRA Chain overview gives the short version.
As of , source Weekly Transparency Report 21
Network and staking
Validator
A validator is an operator that proposes and confirms blocks and takes part in consensus on a proof-of-stake network.
Validators run the software, sign blocks and upgrade together when the chain changes. MANTRA's post-mortem of the 20 August 2026 incident describes coordinating the patched release across 38 independent validators, and an announcement of 22 May 2026 says Securitize joined the validator set. Holders choose a validator when they stake. See the MANTRA Chain security report for the incident.
Staking
Staking is locking coins with a validator to help secure a proof-of-stake network, in return for rewards paid by the protocol.
Rewards are variable and not guaranteed, and staked coins cannot be moved until they are unbonded. MANTRA can be staked directly with validators at mantra.zone/stake or through Fluxtra, which issues the liquid staking token stMANTRA. This glossary shows no rate: the current figure, its method and its date are in the staking section of the MANTRA token page.
Unbonding period
The unbonding period is the waiting time between asking to unstake coins and being able to move them again.
On MANTRA Chain it was 8 days as of 4 October 2026, according to Weekly Transparency Report 21. MANTRA's staking guide says coins earn nothing during the wait, and they cannot be sold in that time, so the holder carries the price risk. Check the current value before staking. Timing and costs are on the MANTRA Chain fees page.
Gas fee
A gas fee is the amount a user pays the network to process a transaction, based on the computing work it needs.
On MANTRA Chain fees are paid in MANTRA. In the week of 28 September to 4 October 2026 the network processed 14,274 transactions for 193.70 MANTRA in fees, an average of 0.0136 MANTRA per transaction, according to Weekly Transparency Report 21. The average covers every transaction type. The fee data page has the breakdown.
Updated
Suggest a term
Is a term missing, or is a definition unclear? Write to [email protected] or use the contact page to suggest a term.
Each definition is checked against the sources named beside its group. Corrections are dated, as the editorial policy sets out.
Next: how an asset becomes a token
The first guide covers the steps from asset to token, the three legal models and what can go wrong.