Table of Content

RWA Issuer Framework

1. Overview

The RWA Issuer Framework defines how regulated institutions can tokenize real-world assets on the platform in a controlled and governed manner. It establishes clear rules for issuer onboarding, asset approval, token issuance and ongoing compliance.

The framework is built for institutional issuers only. Individual users are not allowed to issue real-world asset tokens. This restriction ensures accountability, regulatory alignment and clear ownership of issued assets.

The framework covers the full lifecycle of an RWA offering. This includes issuer registration, verification, proposal creation, governance approval, token deployment, market listing, reporting and enforcement actions. Each stage follows defined processes and recorded approvals.

The objective of this framework is to ensure that all tokenized real-world assets are issued with proper disclosures, legal backing and ongoing oversight. This creates a transparent environment for investors, regulators and platform participants.

2. Issuer Eligibility and Scope

The RWA Issuer Framework is limited to regulated institutional entities. Only registered institutions are permitted to act as issuers and tokenize real-world assets on the platform. Individual users or unregistered entities cannot issue RWA tokens.

Eligible issuers include organizations that can provide verifiable legal identity, regulatory standing and supporting documentation for the assets they intend to tokenize. This ensures clear accountability for asset ownership, issuance and ongoing obligations.

The framework applies to real-world asset classes such as commodities and securities. Each asset type must meet defined legal, compliance and disclosure requirements before it can be approved for tokenization.

The scope of issuer activity is limited to approved offerings and governed actions. Issuers can operate only within the permissions granted after approval and remain subject to continuous monitoring and governance oversight.

3. Issuer Onboarding and Registration

Issuer onboarding establishes the identity, legitimacy and approval status of an institution before it can issue real-world asset tokens. This process ensures that only verified entities gain issuer-level access.

Institutional Registration

Issuers begin by registering as institutional entities on the platform. Registration requires submission of core organizational details and completion of basic account creation. Individual accounts are not eligible for issuer registration.

KYB Verification Process

After registration, the institution must complete KYB verification. KYB is conducted through an integrated third-party compliance provider along with required form submissions. The submitted information is reviewed by both the compliance provider and the platform Admin.

Issuer Approval and Whitelisting

Once KYB is approved, the institution can request issuer status. This request is reviewed by the Admin. Upon approval, the issuerˇs wallet address is whitelisted and issuer-level access is enabled. Only after whitelisting can the institution perform issuer-specific actions.

4. Issuer Access and Permissions

Once approved and whitelisted, the issuer gains access to issuer-specific functions on the platform. These permissions are limited to actions required for creating, managing and maintaining approved real-world asset offerings.

Approved issuers are allowed to:

  • Create and submit asset tokenization proposals
  • Manage the token lifecycle for approved offerings
  • Interact with the governance council for proposal review and approval

All issuer actions are governed by predefined rules and are recorded for audit purposes. Issuers cannot perform actions outside their approved scope or bypass governance controls.

5. Offering Creation & Proposal Submission

Approved issuers can create new real-world asset offerings through a structured proposal process. This process ensures that each offering is reviewed for asset validity, legal compliance and issuance rules before deployment.

Offering Proposal Creation

The issuer initiates an offering by creating a proposal that specifies the asset class to be tokenized. Supported asset classes include commodities and securities. Each proposal represents a single offering and follows a defined submission workflow.

Asset and Legal Details

Each offering proposal must include complete supporting information, such as:

Approved issuers are allowed to:

  • Asset details, including quantity, quality and storage information
  • Legal documentation related to ownership and rights
  • Compliance disclosures required for the asset class
  • Token issuance parameters and basic economics

These details form the basis for governance review.

Internal Review and Submissio

Before submission, proposals are reviewed by the issuer to confirm completeness and accuracy. Once finalized, the proposal is submitted for governance and DAO review. After submission, the proposal enters the formal approval process and cannot be altered without resubmission.

6. Governance and Approval Mechanism

All real-world asset offerings are subject to a governance-based approval process. This process ensures that asset issuance follows defined standards and that decisions are reviewed by an independent body.

Governing Council Review

Submitted proposals are reviewed by the Governing Council. The council examines the proposal details and supporting documents provided by the issuer. The review focuses on:

Approved issuers are allowed to:

  • Asset legitimacy and ownership
  • Legal and compliance documentation
  • Risk disclosures
  • Token issuance structure

These details form the basis for governance review.

Approval Criteria

Approval is based on whether the proposal meets required legal, compliance and disclosure standards. Proposals that do not meet these requirements may be rejected or returned for revision.

Authorization Outcome

Once approved, the offering is authorized for on-chain deployment. If rejected, the issuer must address the identified issues before resubmitting.

7. Token Deployment and Primary Marketplace Listing

Once an offering proposal is approved by the Governing Council, the platform proceeds with on-chain deployment of the associated smart contracts. These contracts are created according to the parameters approved during governance review.

After deployment, tokens are minted strictly within the approved supply limits. No additional minting is permitted outside the authorized scope.

Following minting, the offering is listed on the Primary Marketplace. This makes the tokens available to eligible investors under the rules defined for the offering. Listing occurs only after successful deployment and confirmation that all approval conditions have been met.

8. Token Management Rights

Issuers are granted controlled administrative rights over tokens issued under approved offerings. These rights are enforced through smart contracts and apply only within the limits defined during the approval process. Issuer actions are logged on-chain and remain subject to governance oversight.

Minting Controls

Issuers can mint tokens only according to the supply limits approved for the offering. Minting outside the approved parameters is not permitted. Mint actions are recorded on-chain and linked to the specific offering.

Burning Controls

Issuers can burn tokens when required. This may occur during redemption, corrections, or other approved operational cases. Burn actions reduce the total supply and are recorded on-chain.

Freeze and Unfreeze Controls

Issuers can restrict token transfers by freezing tokens when required for compliance or regulatory reasons. Once conditions are met, issuers can unfreeze tokens to restore transferability. All freeze and unfreeze actions are tracked and auditable.

9. Ongoing Reporting and Compliance

Issuers are required to meet ongoing reporting obligations to maintain transparency and alignment with asset backing requirements. These obligations apply to the full lifecycle of an issued offering.

Proof of Reserve Reporting

Issuers must submit a Proof of Reserve report every 15 days. This report confirms that the issued tokens remain backed by the underlying real-world assets.

Proof of Reserve reports must include verifiable data that supports asset quantity and custody status. Reports are submitted through the platform and linked to the relevant offering.

Review and Monitoring

Submitted reports are reviewed by the Governing Council. The review checks consistency between reported reserves and issued token supply.

If discrepancies, delays, or risks are identified, the council may request clarification or additional documentation from the issuer.

10. Governance Actions and Enforcement

The governance framework includes defined actions to address non-compliance, reporting gaps, or operational risks related to issued real-world asset tokens. These actions ensure continued oversight and protect market participants

Corrective Actions

If issues are identified during review or monitoring, the Governing Council may:

  • Request additional disclosures or clarifications
  • Require updated documentation or reports
  • Set timelines for issue resolution

Issuers are expected to respond within the defined timeframe to maintain issuer status.

Restrictions and Revocation

In cases of unresolved issues or serious breaches, the Governing Council may:

  • Impose restrictions on issuer actions
  • Pause minting, transfers, or marketplace access
  • Revoke issuer privileges if required

All enforcement actions follow recorded governance decisions and are logged for audit purposes. Issuers remain accountable for compliance throughout the lifecycle of their offerings.