Under active development. We're continuously fixing and improving the metrics and parameters, so scores and ratings may change. See changelog

RWABeat

FalconX Credit Vault

Senior tranche of the FalconX credit vault on Pareto. USDC is lent to one FalconX borrower wallet, which funds prime-brokerage credit lines. Collateral sits offchain. The junior tranche has no tokens outstanding, so there is no onchain first-loss buffer. This is the vault FalconX announced and that rwa.xyz lists as AA_FalconXUSDC, not Plume's NFALCON or Sygnum's Desygnate. A deprecated Pareto deployment on Optimism is not tracked.

Private creditNon-US professional investors onlyTransfer-restrictedOnchain dataIssued by M11 Credit · Platform Pareto
Value
$132.0M
Stage
None
Below Stage 0: key facts not disclosed
Single-key powers
7
Single key holds critical power
Oracle age
3h 44m
On schedule
Used as DeFi collateral
$12.5M· 5 markets

Transparency

Can you see what backs the token, and trust that data?

Red

The only reports are self-reported by the issuer (best: Pareto vault reporting).

  1. The only reports are self-reported by the issuer (best: Pareto vault reporting).

Reports

Rated as private credit, so data must be updated at least monthly, with defaults reported as they happen. The best report counts.

ReportData comes fromDetailUpdatedVerifiableOnchain
Pareto vault reporting

ParetoCounts

IssuerSingle NAVmonthlySelf-reported0x433D…be4d

Onchain data is a separate badge, not part of the rating: public data that lives offchain is still transparent to a person. Ladders adapted from Chronicle Labs, "The Transparency Gap in Onchain Finance" (Oct 2026).

Event reporting

Private credit must report defaults as they happen, not at the next periodic report.

Defaults reported as they happen
Not public · searched 25 Oct 2026 Help us find it

Kept private for a reason

Shown as context, never as a penalty.

None recorded.