Contribution-Generated Assets (CGA): A Hard-Budget, Auditable-Settlement Asset Paradigm, Distinct from RWA

Real-World Asset tokenization (RWA) puts pre-existing off-chain assets—such as government bonds, real estate, receivables, commodities, or revenue rights—into on-chain form. Its central challenges are off-chain title, custody, and enforcement. This paper presents a different paradigm: Contribution-Generated Assets (CGA). In CGA, the asset does not exist ex ante; it is continuously generated inside a platform economy as verifiable contributions occur. CGA is not backed by external collateral. Instead, its trust anchor consists of a hard-budget constraint, auditable profit and budget accounting, and recomputable settlement with challenge windows and rollbacks. To address a key institutional tension—organizational inputs such as core builders, long-horizon R&D, and public responsibilities are necessary yet rarely verifiable transaction by transaction—we introduce a Stewardship Budget Guardrails axiom (CGA-A2′). Rather than assuming cross-industry optimal ratios, this axiom enforces constitutional caps, versioned commitments, timelocks, and trigger-based contraction or freezing, preventing soft-budget drift while preserving long-term capacity. Conceptually, CGA does not require blockchain technology to exist. However, blockchains materially reduce enforcement and reconciliation costs and serve as a best-fit execution layer under low-trust assumptions, enabling enforceable guardrails, non-retroactive finality, and automatic consequences. This paper provides: (1) a clear definition of CGA and its paradigm boundary from RWA; (2) implementable axioms (CGA-A1–A5, plus A1′, A2′, and A3b) and a hard-budget proposition (CGA-P1); (3) a taxonomy and mapping from definitions to observable audit metrics; (4) a Minimum Verifiable Dataset (MVD/MVD+) and audit triggers; (5) a minimal auditable statement and an ultra-minimal one-period worked example; and (6) a falsifiable empirical roadmap. Together with ABUE, the Wealth Flywheel model, and Proof of Contribution (POC), CGA completes a contribution–asset–consensus loop for platform economies.