{"ok":true,"simulationOnly":true,"handbook":{"handbookId":"rwa-tokenisation-handbook","title":"Real World Asset Tokenisation Handbook","subtitle":"Workflow, Requirements, and Compliance Guide","version":"1.0.0","lastUpdated":"2026-04-28","coverDisclosure":"TROPTIONS does not provide custody, exchange services, brokerage, money transmission, investment advice, or carbon offset guarantees. All platform functions are simulation-only until required approvals (provider, legal, compliance, signer, and board) are in place. This document is for informational purposes only and does not constitute an offer to sell or a solicitation to buy any security, commodity, or financial instrument.","transactionTypes":["RWA Tokenisation & Sale","Collateral Pledge","Equity Token Issuance"],"sections":[{"sectionId":"overview","title":"Overview and Scope","content":"This handbook describes the process for tokenising real-world assets (RWAs) on the TROPTIONS platform. RWAs include gemstones, real estate, equipment, art, and other tangible assets. Tokenisation converts an asset into a digital token representing ownership or economic rights. TROPTIONS records tokenisation workflows and due-diligence evidence but does not provide custody, exchange, or investment services. All tokenisation remains blocked until legal, compliance, and custody approvals are satisfied."},{"sectionId":"legal_framework","title":"Legal Framework and Regulatory Considerations","content":"RWA tokens may constitute securities under applicable law. Issuers must obtain legal opinions confirming the regulatory status of the token and the applicable exemption (e.g., Regulation D, Regulation S, Regulation A+). Transfer restrictions must be embedded in the token standard (e.g., ERC-3643 or TROPTIONS permissioned IOU) to ensure that only verified, eligible holders can receive the token. Unrestricted ERC-20 tokens for regulated assets are a compliance red flag. Issuers must work with licensed securities attorneys and broker-dealers where required."},{"sectionId":"asset_verification","title":"Asset Verification and Custody","content":"Before tokenisation, the underlying asset must be independently appraised, physically verified, and placed with a regulated custodian. The custodian must provide a signed custody statement confirming (a) physical control of the asset, (b) the custodian's regulatory status, and (c) insurance coverage. An independent appraisal not older than 90 days is required for financial transactions. All appraisals, custody statements, and insurance certificates are hashed and stored on IPFS; only hashes and content identifiers (CIDs) are retained in the TROPTIONS registry."},{"sectionId":"smart_contract","title":"Smart Contract Overview","content":"The TROPTIONS escrow contract holds payment tokens from the buyer and asset tokens from the seller until all conditions are satisfied. Conditions include: both deposits received, KYC flags verified, agreements signed, oracle attestation of asset delivery, and Control Hub approval. When all conditions are met, the contract atomically releases payment to the seller and the asset token to the buyer. No release occurs if any condition fails. The escrow contract is simulation-only in the current phase; live deployment requires a formal audit."}],"documentChecklist":[{"id":"appraisal","item":"Independent Appraisal Report (≤90 days old)","mandatory":true,"notes":"Must be from an accredited appraiser"},{"id":"custody_stmt","item":"Custody Statement from Regulated Custodian","mandatory":true},{"id":"spv_agreement","item":"SPV or Legal Wrapper Agreement","mandatory":true},{"id":"insurance","item":"Insurance Certificate","mandatory":true},{"id":"prospectus","item":"Offering Prospectus or Information Memorandum","mandatory":true},{"id":"legal_opinion","item":"Securities Law Opinion Letter","mandatory":true},{"id":"kyc_id","item":"Government-Issued ID for all UBOs >25%","mandatory":true},{"id":"kyb_docs","item":"Entity KYB Documents (registration, operating agreement, UBO declaration)","mandatory":true},{"id":"pledge_agreement","item":"Pledge and Security Agreement (collateral transactions only)","mandatory":false}],"workflowSteps":[{"step":1,"title":"Submit Due Diligence Package","description":"Upload all required documents. System hashes each document and stores the hash + IPFS CID. Raw documents are not retained.","approvalRequired":false,"blockingIfIncomplete":true},{"step":2,"title":"KYC / AML Screening","description":"All parties are screened against OFAC, UN, and EU sanctions lists. Identity documents are verified by a licensed KYC provider. Oracle attestation records the compliance flag.","approvalRequired":true,"blockingIfIncomplete":true},{"step":3,"title":"Legal and Compliance Review","description":"Legal counsel reviews the securities law opinion and custody statement. Compliance team reviews the KYC output, sanctions results, and permissioned token standard.","approvalRequired":true,"blockingIfIncomplete":true},{"step":4,"title":"Smart Contract Audit","description":"The escrow and registry contracts are reviewed by an independent auditor. Proof-of-Reserve (PoR) integration with an oracle is confirmed before any live deployment.","approvalRequired":true,"blockingIfIncomplete":true},{"step":5,"title":"Agreement Signatures","description":"All parties sign the subscription or purchase agreement using their wallet (ECDSA for EOAs, EIP-1271 for contract wallets). Signatures are recorded with document hash and timestamp.","approvalRequired":true,"blockingIfIncomplete":true},{"step":6,"title":"Escrow Funding","description":"Buyer deposits payment tokens; seller deposits asset tokens into the escrow contract. All deposits are recorded in the TROPTIONS registry.","approvalRequired":false,"blockingIfIncomplete":true},{"step":7,"title":"Oracle Attestation","description":"An independent oracle (Chainlink or equivalent) attests to asset delivery and confirms the onchain KYC flag is set for both parties.","approvalRequired":true,"blockingIfIncomplete":true},{"step":8,"title":"Control Hub Approval","description":"Final governance approval from the TROPTIONS Control Hub and board where required.","approvalRequired":true,"blockingIfIncomplete":true},{"step":9,"title":"Escrow Release","description":"When all conditions are satisfied, the escrow contract atomically releases payment to the seller and the asset token to the buyer. An immutable audit record is created.","approvalRequired":false,"blockingIfIncomplete":false}],"smartContractOverview":"Escrow Contract: holds both payment and asset tokens until all conditions are met; implements atomic release or safe fallback cancellation. Registry Contract: records tokenised asset metadata, ownership history, and evidence hashes. Compliance Gate: queries the onchain KYC flag before any transfer; rejects transfers from unverified addresses.","legalDisclosure":"This handbook is provided for informational purposes only. It does not constitute legal, financial, or investment advice. RWA tokens may be securities; consult a licensed attorney before proceeding. TROPTIONS does not provide broker-dealer, underwriting, or money-transmission services.","contactInfo":"For compliance inquiries: compliance@fthtrading.com. For legal questions, consult your own legal counsel."}}