Welcome to The Distribution, a weekly note from ASX Capital, the tokenized US real estate platform on BNB Chain. Each issue covers one thing worth understanding about the properties, the mechanics, and the wider move of real-world assets on-chain. No hype, no urgency. The product is unusual enough to speak for itself.

This first issue has a good reason to exist.

This week ASX Capital renounced ownership of the $ASX token contract on BNB Chain. In plain terms: the keys that could once adjust the contract have been given up. What the contract does today is what it does permanently. The 4% sell fee is fixed. There is no function to mint new tokens. Transfers cannot be paused. No one, including the team, can alter any of it again.

You do not have to take that on trust. The renounce is a public transaction on the chain, and anyone can read it: view the transaction on BscScan.

Renouncing is a one-way decision. It trades away flexibility, the ability to adjust the contract later, in return for permanence. For most tokens that is a hard call. For one tied to monthly income from real buildings, permanence is the more valuable of the two, and giving up the ability to change the rules is the point rather than the cost.

If this is your first issue, the short version. ASX Capital tokenizes cashflowing real estate on BNB Chain. Each property is minted at $1.00 par, with a $1 minimum, and pays monthly distributions from the rent the building collects.

Four assets are live today.

400 Marquette (MRQ), an 80,913 square foot light industrial building in Oak Creek, Wisconsin. Target APR 5.4% at $1.00 par. Trading.

Mountain View Apartments (MVA), 114 residential units. Target APR 7.2% at par. Trading.

Greens at Alvamar (GAA) in Lawrence, Kansas. Target APR 5.4% at par. Minting.

Brookwood Village Townhomes (BVT) in Blue Springs, Missouri. Target APR 7.3% at par. Minting.

Every figure above is a target APR at par, not a promise. Distributions depend on the rent the buildings actually collect.

The reason a renounced contract matters here is the same reason the whole model matters: it moves trust from people to something you can verify yourself. The rent arrives, or it does not, and the chain records it either way. The contract does what it says, and now it cannot do anything else.

More next week.

Explore the properties at asxapp.com/rwa. ASX Capital is offered outside restricted territories, which include the United States.