Glossary: XRPL commodity token terms in plain words

Last updated October 31, 2026 · All guides

Plain definitions of the words ReserveWatch uses. These describe ledger settings and readings; none of them is investment advice, and none proves reserves.

Jump to: AMM TVL · Circulating vs treasury supply · Trust line · Clawback · Freeze / NoFreeze · Global Freeze · RequireAuth · Domain / xrp-ledger.toml · OK / WARN / CRITICAL · Peg deviation · Quote assets (XRP / RLUSD / USDV) · Unverified listing / Issuer link unconfirmed

AMM TVL: Automated market maker total value locked. An AMM pool on the XRP Ledger holds two assets (for example a gold token and XRP) and lets anyone trade against it. TVL is the US-dollar value of everything in the pool. ReserveWatch adds up a token's pools against XRP, RLUSD and USDV. Below about $10,000, the pool is treated as too thin for a meaningful price.
Circulating vs treasury supply: Raw obligations are every token the issuer has outstanding on trust lines. Treasury is the part held by wallets the issuer says it controls (pre-issued or not yet sold). Circulating supply is raw obligations minus treasury. On-ledger supply counts tokens; it does not prove any physical asset exists.
Trust line: The link an account must open to an issuer before it can hold that issuer's token. Each trust line ties one holder to one issuer for one currency code. More on trust lines.
Clawback: An issuer setting (allowTrustLineClawback) that lets the issuer pull tokens back out of a holder's account. It can only be turned on before the issuer has any trust lines, and it cannot be turned off. ReserveWatch marks it WARN: a legitimate choice for some regulated issuers, but holders do not have final control of their balance.
Freeze / NoFreeze: By default an issuer can freeze an individual trust line, which stops that holder sending the token to anyone except the issuer. Setting NoFreeze gives up that power permanently. "Can freeze" is shown as normal context, not as a problem.
Global Freeze: An issuer setting that freezes every trust line at once, so the token cannot move between holders. ReserveWatch marks it CRITICAL. An issuer that has set NoFreeze cannot turn Global Freeze on.
RequireAuth: An issuer setting that requires the issuer to approve each trust line before it can hold tokens. Common for regulated or institution-only tokens. Shown as context, not as a problem.
Domain / xrp-ledger.toml: The Domain is a website name an issuer account can set on the ledger. The xrp-ledger.toml file is published by that website at /.well-known/xrp-ledger.toml and can list the issuer's accounts. When both point at each other, the issuer is verified two ways. More on verification.
OK / WARN / CRITICAL: ReserveWatch's automated health labels. Each check is OK, WARN or CRITICAL, and a token's overall label is its worst check. They summarize rule-based checks of public ledger data. They are not ratings, audits, opinions on solvency, or advice. How each check works.
Peg deviation: How far a metal token's on-ledger price is from the spot price of the metal it represents, in percent. Only graded when AMM pools hold at least about $10,000: under 3% is OK, 3–10% is WARN, 10% or more is CRITICAL. Not measured for commodities without a public spot reference. More on peg vs spot.
Quote assets (XRP / RLUSD / USDV): The assets a token's AMM pools are paired against. ReserveWatch reads pools against XRP (converted with a live XRP/USD rate), RLUSD and USDV (Valtorum USD), both valued at a nominal $1. ReserveWatch does not check those stablecoins' own reserves.
Unverified listing / Issuer link unconfirmed: Soft labels for issuers ReserveWatch could not confirm from the project's own sources. "Unverified listing": the project's own list does not include the account. "Issuer link unconfirmed": third parties attribute the account to a project, but the project publishes nothing listing it. Neither is an allegation. What the labels mean.