Mechanism Overview

Perpetual RWA Asset Pool: Solana-Based Perpetual ETF Documentation

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Product Overview

The Perpetual RWA Asset Pool is a decentralized, blockchain-based perpetual ETF built on Solana, offering diversified exposure to tokenized real-world assets (RWAs). The protocol leverages Solana’s high-speed, low-cost infrastructure to automate portfolio management, yield distribution, and liquidity provisioning through on-chain programs and SPL tokens.

Objective: Provide seamless, perpetual access to yield-generating RWAs (real estate, private credit, infrastructure, bonds) with Web3-native efficiency and transparency.

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Key Features

Feature	Description
Perpetual Structure	Open-ended entry/exit via SPL share token minting/redemption.
Multi-Asset Diversification	Exposure to tokenized RWAs across sectors and geographies.
Dynamic Rebalancing	Algorithmic adjustments to maintain risk/return targets.
Liquidity Reserves	10% of AUM held in stablecoins (e.g., USDC) for instant redemptions.
Automated Yield	Monthly/quarterly stablecoin distributions or reinvestment.
Solana Efficiency	Near-instant settlements, low fees, and scalable infrastructure.

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Architecture & Core Components

On-Chain Programs & Tokenization

• Investment Pool Program: Solana program that aggregates deposits, mints/redeems SPL share tokens, and executes asset allocation logic.

• SPL Share Tokens: Represent fractional ownership of the RWA pool; redeemable for underlying assets or stablecoins.

• Asset Registry: On-chain list of approved tokenized RWAs (e.g., real estate, private credit instruments).

Modular Subsystems

1. Asset Management Program:

   • Deploys capital to pre-vetted RWAs using predefined strategies.

   • Executes rebalancing via Solana’s high-throughput transactions.

2. Yield Distribution Program:

   • Aggregates income streams (rent, interest, appreciation) and distributes yields to SPL token holders.

3. Liquidity Management Program:

   • Manages a 10% stablecoin reserve for instant redemptions; initiates asset liquidation via decentralized oracles if reserves are depleted.

4. Risk Management Program:

   • Monitors asset performance, liquidity ratios, and market data to adjust allocations or reserves.

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How It Works

Investor Deposit

1. Users deposit stablecoins (e.g., USDC) into the pool’s Solana program.

2. Receive SPL share tokens proportional to their deposit (1 token ≈ 1 NAV unit).

Yield Generation

• Income from RWAs (rent, interest, etc.) accrues in real time.

• Yields are auto-compounded or distributed as stablecoins.

Redemption Process

• Instant Withdrawals: Up to 10% of AUM fulfilled via on-chain liquidity reserves.

• Delayed Withdrawals: Larger requests processed within 14 days (assets liquidated programmatically).

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Risk Management

• Real-Time Analytics: Tracks asset health, liquidity ratios, and market volatility.

• Reserve Buffer: 10% liquidity cushion to mitigate redemption pressure.

• Oracle Integration: Decentralized price feeds ensure fair asset valuation during liquidations.

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Fees & Expenses

Fee Type	Rate	Details
Management Fee	0.25% annually	Charged monthly on NAV.
Origination Fee	0.9%	Upfront fee from origination value
Performance Fee	10%	Deducted from yield
Total Expense Ratio	~1.25% annually	Includes gas fees and transaction costs.

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Key Risks

• Market Risk: Underlying RWA values may fluctuate with economic conditions.

• Liquidity Risk: Prolonged market stress could delay redemptions beyond 14 days.

• Smart Contract Risk: Solana program vulnerabilities could impact operations, being audited by third-party.

• Regulatory Risk: Evolving tokenization laws may affect asset eligibility or compliance.

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Disclaimer: Investing involves risk, including potential loss of principal. This product is not FDIC-insured. Past performance does not guarantee future results. Consult a financial advisor before investing.