Mechanism Overview

RWA Single Asset Offering: Term-Based Investment Documentation

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Product Overview

The Perpetual RWA Single Asset Offering is a Solana-based, term-structured investment product providing direct exposure to individual tokenized real-world assets (RWAs). Each offering is tailored to a specific RWA (e.g., a real estate property, private loan, or infrastructure project) with a fixed maturity date, enabling investors to earn yields over a defined period.

Objective: Offer targeted, time-bound access to high-yield RWAs while leveraging Solana’s speed and cost efficiency for transparent operations.

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Key Features

Feature	Description
Term-Based Structure	Fixed investment period (e.g., 2 years – 5 years) with maturity dates for principal and yield redemption.
Single-Asset Focus	Direct exposure to one tokenized RWA (e.g., a commercial property, loan, or bond).
Defined Yield	Predetermined APY based on asset type and risk profile
Solana Infrastructure	On-chain issuance, management, and settlement via SPL tokens and low-fee transactions.
Transparent Tracking	Real-time monitoring of asset performance and yield accrual through on-chain dashboards.

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Architecture & Core Components

On-Chain Programs & Tokenization

• Term Investment Program: Solana program governing deposits, yield calculations, and maturity settlements.

• SPL Certificates: Tokenized certificates representing ownership in the RWA and entitlement to principal/yield at maturity.

• Asset Vault: Isolated storage for the underlying RWA (e.g., tokenized deed, loan agreement).

Modular Subsystems

• Yield Accrual Program: Automatically calculates and allocates interest/income to SPL certificate holders.

• Maturity Engine: Enforces lock-up periods and processes redemptions at term expiration.

• Compliance Oracle: Validates asset performance data (e.g., rental payments, loan repayments) via decentralized feeds.

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How It Works

Investment Process

1. Deposit: Investors transfer stablecoins (e.g., USDC) to the term program during the offering’s subscription window.

2. Tokenization: Receive SPL certificates proportional to their investment, locked until maturity.

3. Asset Deployment: Funds are allocated to the specific RWA (e.g., funding a property purchase or loan issuance).

Yield Accrual & Redemption

• Income Collection: Cash flows (rent, interest, etc.) are converted to stablecoins and held in escrow.

• Maturity Settlement: At term end, investors redeem SPL certificates for principal + accrued yield in stablecoins.

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Risk Management

• Asset-Specific Risks: Performance tied to a single RWA (e.g., default risk for loans, vacancy risk for real estate).

• Term Lock-Up: No early redemptions; capital is illiquid until maturity.

• Collateralization: Over-collateralization or insurance requirements for select various assets.

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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

• Default Risk: Underlying RWA may fail to generate expected returns.

• Illiquidity Risk: No secondary market for SPL certificates; capital locked until maturity.

• Smart Contract Risk: Solana program vulnerabilities could disrupt operations.

• Regulatory Risk: Legal challenges to tokenized asset ownership or term structures.

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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.