> ## Documentation Index
> Fetch the complete documentation index at: https://docs.rwa.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Overview

> How we classify tokenized assets

We classify every tokenized asset along multiple independent dimensions. Each framework captures a different aspect of the asset: what it is economically, how it behaves on-chain, and how it is structured legally. The frameworks are orthogonal: any combination of values is possible, and each dimension is assigned independently.

<CardGroup cols={2}>
  <Card title="Asset Classes" icon="layer-group" href="/frameworks/asset-classes">
    What is the underlying economic exposure? U.S. Treasuries, credit, equities, real estate, commodities, and more.
  </Card>

  <Card title="Tokenization Type" icon="arrows-split-up-and-left" href="/frameworks/tokenization-type">
    How does the token behave on-chain? Freely transferable (Distributed) or platform-bound (Represented).
  </Card>
</CardGroup>

## How the frameworks relate

Because the frameworks are independent, the same asset class can appear with different tokenization types:

|                     | Distributed      | Represented                         |
| ------------------- | ---------------- | ----------------------------------- |
| **U.S. Treasuries** | USYC, BUIDL      | Franklin Templeton (early versions) |
| **Credit**          | Centrifuge pools | J.P. Morgan Onyx                    |
| **Stablecoins**     | USDC, USDT       | —                                   |

As the market matures, we are expanding our classification system to capture additional dimensions, including the legal and structural relationship between the token and its underlying assets. All frameworks are assigned during our [due diligence process](/methodology/coverage#due-diligence-process) and can be reclassified as an asset's structure evolves.