Groma brings tokenized real estate to Uniswap, priced at NAV

Groma just flipped the switch on a GromaCoin-USDC pool on Uniswap v4, running on Base. Verified investors can now buy and redeem tokenized real estate equity straight from the Groma Real Estate Trust, according to the company. Uniswap announced the integration on Nov. 5, calling it the first time a permissioned asset is live on its AMM.

Here's the hook: this pool doesn't price off supply and demand. It runs on net asset value, so trades happen at NAV instead of whatever a crowd of buyers is willing to pay. Investors deal with the trust directly — no hunting for a counterparty in some secondary market.

Each GromaCoin, ticker GRO, is an equity stake in a trust that owns and operates a portfolio of multifamily residential properties, per Groma. Access is not open. Groma's investment site flags GromaCoin purchases as accredited-investor only, and its whitepaper says wallets need allowlisting after identity and anti-money-laundering checks.

The gatekeeping runs on Uniswap's Permissioned Pools Hook, a standard the exchange rolled out in July. Its docs describe a smart-contract extension that checks permissions on every swap and before any liquidity position gets created, with trading and liquidity provision carrying separate permission flags. The issuer deploys the contract doing the checking — and its adapter can swap out that checker, approve or revoke pool-access contracts, and pause swapping entirely. Those limits live in code, not just on a website login.

The architecture keeps the restricted token out of Uniswap v4's shared pool-management contract. An approved adapter holds the real asset while the pool trades a virtual stand-in, and routing contracts handle the conversion behind the scenes. Uniswap's documentation says the setup avoids creating freely tradable claims that could sidestep the token's ownership rules. Liquidity-position NFTs are non-transferable too, so an approved investor can't hand a position to an unapproved wallet.

Bottom line: Uniswap's broader protocol stays permissionless, but these pools don't. The transaction channel changed — the investor-approval requirement didn't.