FIGR_HELOC#9other
Figure Heloc
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Where to buy FIGR_HELOC
Trade Figure Heloc on a supported exchange.
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Risk signals
Key risks surfaced in review. See Risks & controversies below for the sourced detail.
- Flash crash historyHigh
The token experienced an 81% flash crash to $0.19 on October 24 2025 amid only $1,516 daily volume for a ~$13B asset on Figure Markets.
- Opaque loan verifiabilityMedium
Critics have questioned the verifiability of the underlying HELOC loans because the vast majority appear fiat-based with limited onchain payments observable.
- Undisclosed tokenomicsMedium
No published details exist on distribution splits, emission schedules, burns, locks, vesting, or token utilities.
- Dynamic uncapped supplyLow
Total supply equals circulating supply and is dynamic with no coded maximum, expanding or contracting directly with loan originations and repayments.
Figure Heloc wiki
First drafts are compiled automatically from public and primary sources, with every claim cited. Anyone can propose edits, and every change is reviewed against primary sources before it goes live.
Background
Updated by Tokenica
Figure Heloc (FIGR_HELOC) is a tokenized real-world asset representing Home Equity Lines of Credit (HELOCs) originated by Figure Technologies on the Provenance blockchain. The token supply is dynamic and tied directly to the total unpaid principal balance of the underlying tokenized loans, with each token corresponding to a net asset value of approximately $1.00. Figure Technologies, a financial technology company founded in 2018, issues and manages these asset-backed credit tokens to facilitate trading and liquidity of the HELOC portfolio. The FIGR_HELOC token functions as a digital representation of the represented asset, with no additional verified governance, incentive, or utility roles beyond its role in the tokenized credit instrument.
Risks & controversies
Updated by Tokenica
Figure Heloc (FIGR_HELOC) experienced an 81% flash crash on October 24, 2025, briefly falling to $0.19 from its typical ~$1 trading level tied to the YLDS stablecoin before recovering, with the cause remaining unclear amid reports of very low liquidity (e.g., only $1,516 in daily transactions for a ~$13B asset) on Figure Markets; the event temporarily erased over $10B in market value and prompted questions about the platform's resilience for tokenized RWAs. Critics, including DefiLlama's 0xngmi, have publicly questioned the verifiability of the underlying onchain loans, noting that the vast majority appear to be fiat-based with limited onchain payments observable. No security incidents, regulatory actions, team departures, disputes, depegs, or other major documented events were identified in primary or major secondary sources.
Team
Updated by Tokenica
- Michael TannenbaumCEO
- Macrina KgilChief Financial Officer
- Todd StevensChief Capital Officer
- Matt HellwinkelChief Technology Officer
- Clare HoveChief Operating Officer
- Mike CagneyCo-Founder, Executive Chairman
- June OuCo-Founder, Advisor, Board Member
Tokenomics
Updated by Tokenica
FIGR_HELOC is a tokenized RWA on the Provenance blockchain representing exposure to a portfolio of Figure-issued HELOC loans, with each token corresponding to unpaid principal balance. Total supply equals circulating supply and is dynamic, calibrated directly to the aggregate UPB of tokenized loans in the pool; it expands with new originations and contracts with borrower repayments or closures, with no coded maximum supply. No published details exist on fixed distribution splits, emission schedules, burns, locks, vesting, or token utilities such as fees, staking, or governance.
TimelineNothing notable found yet
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Products
Updated by Tokenica
- Home equity line of credit lending product originated by Figure Technologies and tokenized as FIGR_HELOC on Provenance Blockchain.
- HELOC-based product to consolidate loans into one payment with fast approval and funding.
- Loan product for real estate investors approved using rental income rather than personal income.
- Product allowing borrowing against BTC, ETH, or SOL with fixed interest rates and 12-month terms.
- Yield-earning platform through Figure Markets for lending cash or crypto against real-world assets.
- Flexible borrowing product allowing up to 75% LTV against crypto portfolios with no term limits.
- Tokenized representation of Figure-originated HELOC loans as a real-world asset on Provenance Blockchain.
Links
Updated by Tokenica
- officialWebsite
- officialMarkets
- twitterTwitter
- otherProvenance Explorer