Project Overview
This is a working document and changes are expected. Currently as of Nov 2024, pages with * prefix are yet to be updated to the new design with SPV legal structure.
NYMLAB is building the Platform-D project, which is comprised of components and integration between different legal entities.
The project's core utility is for SME owners to securitise and tokenise their electronic invoices efficiently; for buyers, a way to demonstrate good payment history and access better suppliers and rates; for investors, a way to democratise credit transmission investments.
The investment grade security-tokens provide low risk, deposit-rate-plus yield for retail & institutional investors.
In order to achieve this, there are 3 core entities with specific functions.
- Digital SPV: PD-SPV - A digital (both on and off chain) special purpose vehicle that issues security tokens backed by electronic invoices and artifact that make up Origination Data Package (ODP).
- Digital Securities Depository (DSD): Platform-D Ltd A regulated entity that provides the infrastructure for the issuance and settlment of securities, in this case, recorded as tokens on a Blockchain.
- Assurance Reserve Trust (ART): PD-ART A trust that holds fiat currency reserve offchain for PTs issued by the SPV.
The onchain parts of all the components are built on D-Chain. For details on the chain, please refer to the D-Foundation documentation.
In the initial MVP stage, Platform-D Ltd will only operate the DSD. It is however planned for it to also operate as an MTF.
We will highlight the key technical components here, for more details, please refer to the legal structures documents.
| Roles / License | Entity | Description and Component interactions |
|---|---|---|
| DSD & MTF | Platform-D Ltd. | Issuance and settlement of PTs - smart contracts and registered on x/orderbook, x/tokenfactory |
| SPV | PD-SPV Ltd. | Notarises ODP, PT price discovery and services PTs - build on smart contracts and registered x/notary, x/orderbook, x/tokenfactory |
| Verifiable Credential Issuer & Custodian | Gayadeed (for PD-SPV) | Document composition, digital signature, issuance and storage of verifiable credentials |
| Onboarding services (KYC / KYB / AML) | Gayadeed (for PD-SPV) | The KYC / AML flow for onboarding is provided by Gayadeed |
| Crypto AML / tx services | Gayadeed (for PD-SPV) | transaction APIs: enforce checks via webauthn |
Repos overview
| Repo | Description | Specs |
|---|---|---|
| Chain | D Chain modules and contracts | Docs |
| SPV Webapp | This needs to be forked / replaced to here | |
| SPV contracts | Smart contracts for SPV | see SPV onchain services |
| DSD contracts | Smart contracts for DSD | see DSD onchain services |
| SPV APIs | Backend API for the webapp | |
| Gayadeed VC API | Issuer and custodian of verifiable credentials | |
| Gayadeed Onboarding API | KYC / AML onboarding flow pre-account registration | |
| Utils: Protobuf rust & grpc clients | Rust protobuf get and GRPC tonic clients | |
| Utils: Protobuf ts & codegen clients | TS protobuf interfaces and contract interfaces |
MVP stack
