EasyMM ran RWA Day #2 last week, and the stream ran hot from the first minute. RWA Day is EasyMM's live show on X, built to test one idea: put RWA founders in the same room and let them defend their model in real time. No script. No safety net. No pre-approved questions.

Three founders showed up. Ten minutes of live questions each, fired by the other two speakers on stage. You do not get a highlight reel here. You get the pitch and the pushback, live, unedited, chat scrolling in real time as founders push back on each other.

The Lineup

• Toto Finance. Steven Gaertner runs Toto Finance. He started tokenizing real assets in 2023: diamonds first, over 30,000 tracked, then gold bars, silver, and platinum. Toto launched the first RWA project on the XRP Ledger. Back then, the ledger meant an NFT marketplace, nothing more. His newest deal moves further upstream: copper still in the ground in Argentina, backed by a signed term sheet with a listed Canadian miner. The plan tokenizes 10 to 15 percent of the deposit, worth $5 to $6 billion at today's price, before a single truck moves.
• SPOTTY. Shlomo Ovadiah runs SPOTTY. The platform tokenizes oil already pumped and stored in tanks across Mexico and Canada, verified through reserve-backed certificates on the Stellar network. SPOTTY frames the opportunity in blunt terms: a $12 trillion commodity market still gated by high capital requirements, complex access, and slow settlement.
• VS1 Finance. Fehmi Fennia represents VS1 Finance. The platform issues corporate bonds natively on the XRP Ledger under a Georgian banking license, built for compliant issuance and liquidity across private credit and corporate debt.

Inside the Room

Steven pitched first, methodical and rehearsed after years on stage. Shlomo let him finish, then opened with the sharpest question of the day: "You're a commodity deed. For unextracted product?"

Steven had an answer ready: the token stays asset-backed, and talks with the CFTC are already underway. Shlomo pressed further. In most countries, resources underground belong to the government, not whoever signed the mining deal. A license to dig is not ownership of the metal. Ownership starts once the metal comes out of the ground.

Steven pointed to a 500-page geological report backing the deposit. Shlomo cut him off: a report tells you what sits underground. A report does not name the owner.

Steven paused, glanced at his slides, and answered: "Happy to take that further in a one-on-one, if you have real interest."

What the Exchange Exposed

The clash points at a real gap in the RWA industry. A commodity deed and a mining right sound similar. They are not. A commodity deed claims an existing resource, verified and in custody, like oil already sitting in a tank. A mining right claims a resource not yet extracted, a license to explore or dig, not title to the metal itself.

SPOTTY laid out the broader framework in a follow-up post: air rights, mining rights, warehouse receipts, and commodity deeds all count as real-world assets, but each carries a different legal claim. A geological report supports disclosure around a project. A warehouse receipt or commodity deed ties directly to something already produced and held in custody.

Blockchain should make these rights transparent and verifiable, not add another layer of ambiguity. Every project racing to tokenize what sits underground will face Shlomo's question eventually. Most have not faced the question live, on camera, against a direct competitor who already worked out the argument.

How Day #2 Landed

VS1 Finance closed the day without a fight. Compliant bond issuance, a real banking license, no open question about what backs the token. A solid pitch, straightforward and clean.

The Steven and Shlomo exchange pulled the biggest spike in viewers of the whole stream and became a standalone story after the fact. This energy is the point of RWA Day: give founders a stage without a filter, and give the audience a real look at how these companies defend their numbers, beyond the slide deck.

Requests for Day #3 slots started coming in before the stream ended, and the comments kept filling up long after.

What's Next

RWA Day runs as an ongoing series. Check the RWA Day page for the full session archive, and watch your calendar. The next session lands soon.

Frequently Asked Questions

What is EasyMM RWA Day?

A live session on X where EasyMM puts RWA founders on stage for unscripted, back-to-back questions from each other, not a panel with pre-approved talking points.

What is the difference between a commodity deed and a mining right?

A commodity deed claims an existing, verified resource already in custody. A mining right claims a resource not yet extracted, a license to dig rather than ownership of the metal itself.

How often does RWA Day run?

RWA Day runs as a recurring series. Day #2 just wrapped, and requests for Day #3 slots are already coming in.

How can my project get a slot on RWA Day?

Reach out to EasyMM directly through the Telegram bot to apply for a future session.

Want your project on the next RWA Day stage? Talk to EasyMM.