Full Process (End-to-End)
This page mirrors the locked build order: SPV → Custody → Digital Twin → Credit Facility → Token/Distribution.
1) SPV / Legal Structure
- Form SPV (issuer/borrower vehicle) with defined governance and signing authorities.
- Draft asset contribution / bill of sale into SPV; align chain-of-title evidence set.
- Prepare security agreement and lender enforcement rights against custody position.
2) Vault Custody / Insurance
- Execute custody agreement: who can instruct movements, what constitutes breach, what logs are produced.
- Insurance coverage aligned with lender requirements; named insured / loss payee where required.
- Operational controls: dual-control, audit logs, periodic re-verification.
3) Digital Twin / Evidence Anchoring (XRPL Canonical)
- Compute SHA-256 of appraisal PDF; record in repo.
- Upload appraisal PDF to IPFS; record CID in repo.
- Anchor CID + SHA-256 + master record hash via XRPL memo in an attestation transaction.
Rule: XRPL is the source of truth for evidence anchoring; Stellar is mirror-only.
4) Credit Facility ($10–15M)
- Underwriting: value basis, LTV, advance rate, covenants, reporting.
- Collateral enforcement: perfected security interest + custody control agreement.
- Draw mechanics: lender disburses to SPV; proceeds used per permitted use-of-funds.
5) Token / Offering Architecture
- Decide instrument (e.g., IOU units, revenue share, debt participation) consistent with counsel guidance.
- XRPL issuance controls (issuer, operational keys, freeze/clawback policy) documented and executed.
- Stellar mirror rail enabled only after XRPL canonical state is finalized.
System Flow (High-Level)
flowchart TD
A[SPV formed + governance locked] --> B[Custody agreement + insurance bound]
B --> C[Evidence locked: SHA-256 + IPFS CID]
C --> D[XRPL attestation tx (memo anchoring)]
D --> E[Credit facility closes + draw]
E --> F[Token/rail distribution (XRPL canonical, Stellar mirror)]