When to Use
- Tokenizing treasuries (T-bills, government bonds)
- Real estate fractional ownership
- Corporate bond issuance on-chain
- ERC-3643 (T-REX) compliant security tokens
- Yield distribution to token holders
Prerequisites
- MCP:
compliance-screening-server,blockchain-rpc-server,price-feed-server - Skills: skill-09 (mandatory for all RWA), skill-08
Workflow
1. Token Standard Selection
| Standard | Use Case | Compliance |
|---|---|---|
| ERC-3643 (T-REX) | Regulated securities | Built-in identity/compliance |
| ERC-1400 | Security tokens (legacy) | Partition-based |
| ERC-4626 | Yield-bearing vaults | DeFi composability |
| ERC-20 + allowlist | Simple restricted tokens | Manual KYC gate |
Prefer ERC-3643 for regulated offerings in EU (MiCA) and US (Reg D/Reg S).
2. Issuance Workflow
- Legal structuring (SPV, fund vehicle)
- KYC/AML all investors via compliance MCP
- Deploy identity registry + compliance module
- Mint tokens to verified investor wallets only
- Register with applicable regulators (SEC, FCA, etc.)
3. Asset Classes
Tokenized Treasuries (e.g., Ondo OUSG, Franklin FOBXX):
- 1:1 backing with short-term US Treasuries
- Daily/monthly redemption windows
- Accrued yield reflected in token price or rebasing
Real Estate:
- SPV holds property; tokens = beneficial interest
- Distribute rental income via
claim()or automatic airdrop - Secondary trading restricted to qualified investors
Bonds:
- Coupon payments via scheduled
distributeYield()calls - Maturity redemption at par
4. Yield Distribution
function distributeYield(uint256 amount) external onlyManager {
uint256 totalSupply = token.totalSupply();
yieldPerToken += (amount * 1e18) / totalSupply;
}
Track tax reporting obligations per jurisdiction (1099-DA, withholding).
5. Compliance Controls
- Transfer restrictions: only between whitelisted addresses
- Force transfer for court orders (ERC-3643 agent role)
- Freeze tokens for sanctioned parties
- Cap table reporting and audit trail
Hard Rules
- All investors must pass KYC/AML before mint
- No public trading without registration exemption
- Screen every transfer via compliance MCP
- Maintain off-chain legal docs linked via hash on-chain
References
references/erc3643-overview.mdknowledge-base/regulations/mica/