RWA FOUNDATION
Who Holds the Keys
Admin keys decide who can mint, freeze or upgrade your token
For many asset-backed tokens, securing the underlying asset is only part of the picture. The other part is the smart contract and who controls its admin permissions. Those permissions can change what happens to your token after you buy it.
MINT
Creates new tokens. Total supply should match the required backing, though not every mint needs a new deposit. If one wallet can mint without checks, supply can outgrow the assets.
FREEZE
Pauses transfers or blocks an address, typically for sanctions or court orders. It is a compliance tool, and it can apply to your wallet too.
UPGRADE
If the contract is upgradeable, the code behind the token can change while its address stays the same. Fixes can ship quickly, and so can new rules.
Multisig controls and timelocks act as brakes. Ask who holds the keys and what limits them.