Disclaimer:
All information provided within this proposal is intended for use by Arbitrum only and is not intended for public use outside of Arbitrum’s network purposes. Information provided is for information purposes only.
DigiFT and/or its subsidiaries endeavour to ensure the accuracy and reliability of the information provided, but do not guarantee its accuracy and reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracy or omission or from any decision, action or non-action based on or in reliance upon information contained in this website. All information contained in this website is FOR ARBITRUM’S USE ONLY.
DigiFT is proud to apply for the Arbitrum Treasury Diversification (STEP2). DigiFT will be submitting two separate applications. One for the UBS USD Money Market Fund Investment Token (uMINT) and the other for the Invesco Senior Secured Loan Strategy Token (iSNR).
DigiFT is the first regulated on-chain exchange, approved as a Recognized Market Operator with a Capital Markets Services license by the Monetary Authority of Singapore (MAS) since December 2023. DigiFT allows asset owners to issue blockchain-based security tokens and investors can trade with continuous liquidity via an Automated Market Maker (AMM).
At the moment, DigiFT’s smart contracts are on Ethereum and Arbitrum, and we are seeking partnership with leading Layer 2 ecosystem, Arbitrum, to better leverage efficiency of the underlying technology.
DigiFT are encouraged by the growing RWA ecosystem of Arbitrum and would like to support the RWArbitrum movement even further by involving the UBS issued tokenized money market fund, uMINT, and Invesco senior loan strategy token, iSNR. DigiFT believes that this will be advantageous to both Arbitrum’s and DigiFT’s ecosystems and would like to work beyond this proposal.
The proposal in this submission focuses on uMINT.
Applicant information
Name: DigiFT Tech Singapore Pte Ltd
Address (Headquarters):
7 Straits View, #05-01 Marina One East Tower Singapore 018936
Country: Singapore
Website: https://www.digift.sg/index
Primary contact Name: Ryan Chen
Title: Head of Research and innovation
Country: Singapore
Telegram: @ciz233
Email: ryan.chen@digift.com.sg
Key Information
About DigiFT
DigiFT is the first regulatory-compliant exchange for on-chain real-world assets to be licensed by the Monetary Authority of Singapore as a Recognised Market Operator and Capital Markets Services provider. DigiFT enables asset owners, particularly financial institutions, to issue blockchain-based security tokens that investors can trade with continuous liquidity using an Automated Market Maker (AMM).
About UBS
UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. With the acquisition of Credit Suisse, UBS manages 5.7 trillion dollars of invested assets as per fourth quarter 2023. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
Source: UBS Asset Management launches its first tokenized investment fund | UBS Global
About uMINT
The “UBS USD Money Market Investment Fund Token” (“uMINT”) is a tokenized money market fund backed by an institutional-grade money market fund issued UBS and distributed only via authorized distributor, like DigiFT. Its underlying fund consists of established money market instruments, has a rating of AAAmmf by Moody’s Rating and a AAA-mf by Fitch’s Rating, and has access to a multi-billion level liquidity.
As uMINT is deployed on Ethereum, DigiFT will use depository receipt issuance model to launch DR-uMINT on Arbitrum, targeting April. Token name TBD,
Expected Yield
4.039% 7D Yield, As of 20 March 2025
Expected Maturity
Perpetual
Underlying asset
DigiFT is a regulated entity in a Tier-1 jurisdiction and will not be able to share this information publicly. DigiFT had sent the information via email. Please email me if you did not receive it or have any questions regarding our proposal.
Minimum/Maximum transaction size
| Asset | Minimum in USD/USDC/USDT | Maximum in USD/USDC/USDT |
|---|---|---|
| uMINT | 1000 | N.A. |
Current AUM for product
uMINT: The AUM of the underlying fund of uMINT is USD8.55 billion as of 30 Sep 2024.
uMINT currently on Ethereum with 13.6M USD TVL
Current AUM for issuer
Issuer of uMINT’s underlying fund:
UBS: UBS is one of the largest wealth management firms globally with USD 5.9 trillion in assets under management, as of June 30 2024.
Volume of transactions LTM (last twelve months)
uMINT: Launched on November 2024
DigiFT launch DR model - uMINT on Arbitrum: To be launched in April, 2025
Source of first-loss capital
Not Applicable
Basics and background
1. How will this investment improve Arbitrum’s RWA ecosystem?
Cryptocurrencies are too volatile for treasury management which target stable and safe yields. As a regulated security token exchange, DigiFT is able to bring traditional capital markets onchain and let Arbitrum ecosystem get access to diversified high quality assets that are uncorrelated with cryptocurrencies, and meet various demand of traditional assets from the Arbitrum communities.
Adding Stability and Credibility to Arbitrum’s Treasury Reserve:
UBS’s uMINT lowers the counterparty risk for Arbitrum.
With an established presence across the world, UBS AM has been a dependable partner globally for over 150 years. UBS AM brings exacting standards, robust investment processes and a true focus on high-quality client service delivery, all underpinned by the safety and security of the broader UBS group.
Diversification of Assets:
DigiFT is grateful for the opportunity to provide Arbitrum the opportunity to diversify its holdings across both asset class and managers. Digital assets have developed substantially over the last ~10 years and have further room to mature. Diversified allocation to lower volatility assets is critical to ensure long term success. Our long-term investment and risk management experience in developed investment markets (TradFi) guides this core principle. We believe uMINT offers a unique opportunity for Arbitrum to benefit from UBS AM’s experience and institutional approach in money market investment, and even brings diversified opportunities between Tradfi and Web3.
Institutional Risk Management:
The Underlying Strategy may not invest more than 10% of the net assets in securities of the same issuer. Furthermore, securities of issuers singly accounting for more than 5% of the Underlying Fund’s assets must when aggregated together not account for more than 40% of the Underlying Fund’s assets. The Underlying Fund may neither hold fixed-rate debt securities having a residual maturity of more than 12 months, nor hold variable-rate debt securities with a residual maturity exceeding 12 months and not having an adjustment of the interest rates to the market conditions at least once a year. Issues falling short of the defined quality criteria (downgraded) are to be sold within a period of 3 months with due consideration given to the general market conditions, unless a different course of action is recommended by the UBS AM Credit Research Team.
Risk control is an important aspect for the asset management business particularly to prevent liability and reputation damage. The highest standards of risk identification, risk management, and risk control are indispensable to the success, reputation, and continuing strength of the business group, and its management and staff is thus committed to developing and applying best market practice to all risk activities. Risk management within UBS AM is based on the fundamentals of strong internal controls, which includes adequate segregation of responsibilities. Risk management and control within UBS AM is performed by Investment Management & Research as well as all business areas, portfolio guidelines are independently monitored. An empowered risk control function within the business group of UBS Corporate Center, which is closely coordinating with the Group Chief Risk Officer is responsible for identifying, assessing, monitoring and reporting the investment risks pertaining to the UCITS funds based in Luxembourg and funds under similar regulations based in Switzerland.
Building a next-generation security token exchange on tier-one layer 2:
DigiFT’s mission is to leverage Ethereum and Arbitrum’s security to build the next generation of capital markets with higher efficiency, more transparency, and less middle-layer cost. By deploying the DigiFT exchange on Arbitrum blockchain, Arbitrum communities can trade diversified capital market products directly on-chain with instant settlement.
2. Identify key management personnel and individual experience. Also include third parties utilized for managing assets and their qualifications.
Henry Zhang, Founder & Chief Executive Officer.Henry, a veteran banker with over two decades of experience, previously served as the Deputy CEO at Citibank China and held the position of Greater China CEO at East West Bank.
George Jin, Chief Operating Officer.George, a skilled product manager, with extensive operations experience, has amassed valuable experience working with global financial intuitions including Citibank and Bank of America.
Kevin Loo, Chief Executive Officer (HK). Kevin, a crypto-advocate since 2017, has over 20 years of experience in fixed income asset management at BNP, Pimco and Fidelity.
Amos Song, Chief Business Officer, Amos, our leader in business development and partnerships, brings over a decade of experience in the fields of private equity real estate and wealth management.
Fisher Fu, Chief Architect Officer. Fisher, our in-house expert in blockchain and smart contracts, formerly held the position of Exchange Architect at the Shenzhen Stock Exchange.
Cynthia Xi,Group Risk Officer. Cynthia, former Deputy CEO of Bocom International Holdings Ltd., 30 year working experience in capital market with affluent expertise in corporate finance and wealth management.
Chivy Chan,Chief Compliance Officer. Chivy, a compliance professional with over 12 years in the banking, securities and commodities brokerage and asset management at StoneX, Northern Trust, Haitong and HL Bank.
Ryan Chen, Head of Research and Innovation Ryan, a seasoned expert in the Web3 space, has been actively involved in and researching the industry since 2017, with a deep focus on blockchain infrastructure and decentralized finance. His past experience includes roles at Avalanche, Nervos Network, and iZUMi Finance.
3. Describe any previous work by the entity or its officers/key contributors similar to that requested. References are encouraged.
DigiFT had submitted a number of RFPs with regards to possible investments, including Arbitrum’s previous STEP (different products), Ethena Reserve Fund (uMINT), and Sky’s Tokenization Grandprix (uMINT).
4. Has your entity or its officers/key contributors been subject to an enforcement action, criminal action, or defaulted on legal or financial obligations? Please describe the circumstances if so.
DigiFT and/or its officers/key contributors have not been subject to an enforcement action, criminal action, or defaulted on legal or financial obligations.
5. Describe any conflicts of interest for your entity and key personnel.
There are no conflicts of interest for DigiFT and its key personnel.
6. Insurance coverages, guarantees, and backstops Name of insurer or guarantor Per incident coverage Aggregate coverage 1.
Not Applicable
7. Historical tracking error in your proposed product, or similar to that being proposed Product 2024 2023 2022 2021
Not Applicable
8. Brief reason for above tracking error
Not Applicable
9. Please describe any experience your firm has in working with decentralized organizational structures
UBS AM is a strategic partner to DigiFT, bringing RWA securities to Web3, making blockchain driven finance a reality, providing critical infrastructure for value exchange across new and mature investment ecosystems.
UBS Asset Management:
The Fund Token smart contract was developed and deployed by UBS in-house tokenization service, UBS Tokenize, as part of Project Guardian, a collaborative industry initiative led by the Monetary Authority of Singapore (MAS). It was designed to bring various “real world assets" on-chain and is a core part of UBS Asset Management’s global distributed ledger technology corporate strategy, focused on leveraging public and private blockchains networks for enhanced fund issuance and distribution. It also forms part of the broader expansion of UBS’s tokenization services through UBS Tokenize.
In November 2022, UBS launched the world’s first digital bond that is publicly traded. In December 2022, UBS issued a USD 50 million tokenized fixed rate note, and in June 2023 originated CNH 200 million of fully digital structured notes for a 3rd party issuer.
Source: UBS
DigiFT:
DigiFT is the first and only RWA exchange on Ethereum public blockchain with a Capital Market Services (CMS) License and is approved as a Recognized Market (RMO) Operator by MAS. With these licenses, DigiFT is approved to offer:
- Primary market issuance and broker-dealer services
- Secondary marketplace ‘wallet to wallet’ order-matching (via AMM, OTC or P2P), transfer agent and settlement services
- Accept fiat, stablecoins and cryptocurrencies for trading of RWA tokens
DigiFT has been successfully granted authorisation to deploy a hybrid approach that combines DeFi technology and processes, offering decentralised ‘wallet to wallet’ RWA trading, while successfully configuring public chain permission standards (ERC-20) to meet the highest regulatory and compliance standards, acceptable to both UBS and the Singapore MAS. This well vetted combined approach allows DigiFT to confidently provide the required “Trust Anchor” bridge when delivering sustainable yield and value transfer between both DeFI and TradFI industries.
DigiFT has successfully listed over 12 tokens in the past 24 months, including a corporate debt note by Diners Club, single U.S. T-Bills, high-yield bank bonds and money market fund. As an on-chain exchange, DigiFT’s team also have experience working with DeFi protocols and decentralized organizations, such as payment channels, lending protocols and CeDeFi protocols.
10. What is your entity’s current assets under management, assets held in trust, total value locked, or equivalent metric for your legal structuring?
DigiFT’s current TVL is at ~$14 million. TVL is not the sole factor of performance for DigiFT. DigiFT’s performance is also dependent on having a reliable ecosystem and stacking up Tier-1 partners while distributing Tier-1 assets. DigiFT offers to be a plug-n-play infrastructure, being the center of the DeFi and TradFi ecosystem. As of now our key Tier-1 AM partners include UBS and Invesco. Currently, DigiFT are in talks with more Tier-1 partners and plans to expand exponentially in terms of partnerships and TVL this year.
11. How many of these assets held are present on Arbitrum One, if any?
UBS uMINT is native on Ethereum. However, DigiFT is working its way into launch uMINT onto Arbitrum, with Depository Receipt issuance model, targeting April.
Plan design
1. Please describe your proposed product, including a description of the underlying assets and, if more than one asset, the proposed allocation among assets and general investment guidelines. Where appropriate, include targeted maturity mix and credit quality. Attach supplementary documents as appropriate.
UBS uMINT is a tokenized money market fund issued and tokenized by UBS. Each security token minted represents a direct beneficial interest in the underlying money market fund. The underlying money market fund invests into high-quality money market instruments. liquidity and DigiFT plans to launch a version of uMINT on Arbitrum via depository receipt model.
DigiFT would like to propose that a part of the allocation be set aside for uMINT once it’s token launches on Arbitrum.
More information about the fund and its underlying can be provided via email.
Allocation of products:
For allocation, DigiFT kindly ask Arbitrum to consider ~4M USD into the token.
2. Do investors have any shareholder, investor, creditor or similar rights?
The new token would be issued under a Depository Receipt (DR) model, and the token represent direct beneficial interest in the underlying.
By virtue of the DR model, token holders are investors with the right to enjoy the economic benefits of the underlying investments without being legal owners of the underlying. Token holders are not shareholders nor creditors of the issuer(s) of the tokens, but are treated as beneficial owners of the underlying assets.
3. Describe the legal and contractual structuring for your product including regulatory bodies overseeing your business and the product and identifying all legal jurisdictions interacting with your product. Attach supplementary documents as appropriate.
The underlying fund of the token, uMINT, is a Singapore domiciled Variable Capital Company (“VCC”) which was incorporated with limited liability in Singapore. The VCC is a Singapore corporate fund structure constituted under the Variable Capital Companies Act 2018 of Singapore (“VCC Act”) and the VCC framework is administered by the Accounting and Corporate Regulatory Authority (“ACRA”). The VCC is used as an umbrella fund vehicle for the constitution of one of the sub-funds of the VCC with its participating shares (the “Shares”) tokenized.
The Fund is neither regulated nor supervised by the Monetary Authority of Singapore (the “MAS”). However, the investment manager appointed to manage the Fund is a holder of a capital markets services license for fund management and dealing in capital markets products pursuant to the Securities and Futures Act 2001 of Singapore and is regulated by the MAS.
As for the business, DigiFT is the first and only RWA onchain exchange on Ethereum public blockchain with a Capital Market Services (CMS) License and is approved as a Recognized Market (RMO) Operator by the Monetary Authority of Singapore (MAS). With these licenses, DigiFT is approved to offer:
- Primary market issuance and broker-dealer services.
- Secondary marketplace ‘wallet to wallet’ order-matching (via AMM, OTC or P2P), transfer agent and settlement services.
- Accept fiat, stablecoins and cryptocurrencies for trading of RWA tokens.
- Custodial Services.
For further information, please revert to the Private Placement Memorandum (PPM), provided directly to Arbitrum’s consideration as a potential eligible accredited investor.
4. Would Arbitrum’s assets be bankruptcy remote from your own entity and its officers/key contributors? If so, please explain the legal and contractual basis. On a confidential, non-reliance basis, provide any third party legal opinions to support the conclusions. How are Arbitrum’s assets protected vis-a-vis the bankruptcy of the brokerage or applicable financial institution (e.g., bank deposit insurance, securities insurance, etc.)?
Yes, Arbitrum’s assets would be bankruptcy remote from DigiFT and its officers/key contributors. Under DR model, the assets are held in a licensed custodian. The custodian holds assets on behalf of token holders via a bare trust structure. As described above, the wrapped uMINT tokens would give the token holders direct beneficial interest in the underlying assets, which render Arbitrum’s investments bankruptcy remote.
The assets Arbitrum invest are held in a custodian on behalf of Arbitrum.
If the custodian goes bankrupt, it shall not affect the underlying assets. In the legal docs we also clearly state the rights of the token holders, and the governing jurisdiction is in Singapore, a tier-1 legal system. Investors can pursue recourse in the courts of Singapore, pursuant to Singapore laws and MAS regulations.
5. Does the Issuer issue more than one asset? If so, what is the priority relationship between different asset classes?
Yes. DigiFT is a regulated exchange in Singapore. DigiFT’s licenses (CMS and RMO) allow DigiFT to issue products within certain catagories (e.g. securities).
As a platform, those assets classes have equal priorities on DigiFT.
6. Provide a detailed cash flow diagram that shows the flow of funds from ARB/Fiat conversion, investment in underlying asset, payment of expenses, sale of underlying asset, and repayment (Fiat/ARB conversion), including the counterparties and legal jurisdictions involved.
Detailed diagram will provide separately via email.
7. Describe anticipated tax consequences (if any) in transacting on the underlying and/or receipt of yield.
As DigiFT is a Singapore-incorporated company, the tax consequences described herein relate to Singapore tax residents. Non-Singapore tax residents must be considered on a case-by-case basis.
Income derived by the relevant Singapore tax resident tokenholders is expected to be treated as retaining its underlying character for Singapore income tax purposes. This means if the underlying asset represented by the tokens is debt securities, the distributions from the tokens will be treated as interest income. Similarly, if the underlying asset represented by the tokens is shares, the distributions from the tokens will be treated as dividends or capital gains and taxed accordingly.
Non-Singapore tax residents will be taxed according to their tax domiciled country’s tax laws
8. Describe the process and expected timeline for liquidation of assets, if given instructions to do so by Arbitrum governance.
Due to the high-liquid nature of uMINT’s underlying fund, it offers has daily liquidity. The DR-uMINT will also following the same operational procedure, with same liquidity, cutoff time and settlement time.
When given instructions from Arbitrum, we are able to process liquidation of uMINT with expected settlement time of T+0. DigiFT is currently in talks with liquidity providers to enhance our real-time liquidity capabilities.
9. What amount of first-loss equity will Sponsor provide to ensure over-collateralization, how is the first-loss equity denominated, and what is the source of capital?
Not Applicable.
10. Describe the liquidity and stability of the proposed underlying assets, including anticipated settlement times from the sale of the underlying to the repayment of ARB.
For uMINT: Daily subscription and redemption with daily NAV. The settlement time is T+0. Dr-uMINT will follow the same feature.
The underlying fund of uMINT is highly liquid with a multi-billion dollar AUM. The underlying fund also has a money market fund rating of Aaa-mf from Moody’s and AAAmmf from Fitch.
11. If relying on the blockchain for any of the transactional flows, please describe any blockchain derived risks and mitigations.
Below are some of the risks might have during the flows. Note DigiFT’s smart contracts are on Arbitrum, and underlying assets are safely held via a trust structure.
- Blockchain derived risks
- After deploying our smart contract on Arbitrum, all the on-chain process will be completed on Arbitrum, there might be risk that Arbitrum cease function.
- For RWA tokens, assets are custodied off-chain, while all the transaction histories are onchain verifiable. In this case, still safe.
- Smart contract risk on DigiFT exchange
- DigiFT has smart contract audit from leading audit firms. Meanwhile real world assets are custodied offchain with a trust structure, token representing owner rights are in investors’ own wallet.
- Leak of wallet.
- On DigiFT’s platform, asset tokens are only allowed to transfer within whitelisted address, and DigiFT has control over the tokens. In worst cases, Arbitrum DAO can recover via an off-chain process.
12. Does the product rely on any derivative product (swaps,OTC agreements)?
No. uMINT does not rely on any derivative product.
13. List all the third party counterparties linked to your assets including and not restricted to prime broker if any, custodian, reporting agent, banks for derivatives or loans and provide primary contact details for the third party counterparties
uMINT(Originally on Ethereum):
Issuer: UBS (SG) Global Opportunities VCC
Investment Manager: UBS Asset Management (Singapore) Ltd
Custodian: State Street Bank and Trust Company
Administrator: State Street Bank and Trust Company
Auditor: Ernst & Young
Tokenization Platform: UBS Tokenize
Distribution partner: DigiFT Tech (Singapore) Pte.ltd
DigiFT:
DR token Issuer: DigiFT
USDC Exchange Service Provider: Circle
Smart Contract Auditors: Hacken, Slowmist, and others
Internal Auditor: Deloitte
External Auditor: Pricewaterhouse Coopers
Legal: Linklaters, Dentons
Bank Account: DBS SG
DR model Custodian: DigiFT (with CMS custody license)
No derivatives nor loans are related to our products at the moment.
14. Can you explain how is risk management (inv and operational) being done? Can you provide a copy of your risk management policy?
Operational risk management is part of the ERM (Enterprise Risk Management), as a regulated exchange, DigiFT has a comperhensive risk management policy, based on Principles and Guidelines of ISO 31000 and COSO ERM Integrated Framework. The overall governance stucture includes different roles with respective responsibilities. For example, we have board which has overall responsibilities of the governance of risk, risk oversight committee in which members are required to have risk management related skills and experience, and audit committee which should engage the internal auditor to periodically review the adequacy and effectiveness of risk management oversight structure and processes.
Performance reporting
1. What are your proposed performance benchmarks? If this is substantially different from the underlying assets, please explain why.
As distributors, DigiFT does not propose performance benchmarks as we are not the issuer of the underlying fund. DigiFT follows the performance benchmarks of the products’ underlying.
uMINT’s underlying fund follows the SOFR – Secured Overnight Financing Rate as their benchmark.
More details can be provided via email
2. Describe the content, format, preparation process, and cadence of performance reports. This should include proof of reserves, if appropriate. Please include a sample report.
DigiFT is able to send the factsheet which includes sample of the underlying fund performance report via email. Please refer to its content and format.
The performance report of the underlying fund is provided to DigiFT on a daily basis by the investment manager and can be made available to Arbitrum upon request.
Separately, DigiFT provides a monthly account statement to token holders, showing token activities in terms of subscription and redemption as well as the amount of tokens being held by the investor.
3. Who provides the performance reports in respect of the underlying assets?
The performance reports are provided by the issuers of the underlying fund. In this case, uMINT’s underlying assets reports are provided by UBS.
4. Describe any formal audit process and timing of such audits.
These tokenized RWA funds are tokenized versions and 100% representation of already existing, with long history, underlying funds. The underlying funds are audited in accordance with their issuers.
DigiFT also conducts external and internal audits once a year, internal audit is usually conducted during Q2 by Deloitte and external audit is conducted during Q4 by PwC.
Pricing
1. Provide a copy of your standard contract, or one similar to what is being proposed here.
We have contract note and account statement for our investors. Samples are attached in email.
2. Fee summary: Inclusive of the full scope of services requested. Product Fee schedule If asset based Fee calculation for our plan if asset based Annual fee if flat fee Any other fees (including redemption or minting fees)
Management fee: 40bps
Subscription/Redemption(USD/USDC): 0bps
Subscription/redemption(USDT): 10bps
3. Describe frequency of fee payment and its position vis-a-vis payment priority compared with other expenses (i.e., cash waterfall)
Management fee is included in NAV. Subscription/redemption fee is charged at the time of transaction.
Smart Contract/Architecture
1. How many audits have you had and name of auditors? Please provide a copy of reports.
DigiFT’s smart contract have undergone ten audits. Auditors include Hacken, Slowmist, Numen and others.
2. Is the project permissioned? If so how are you managing user identities? Any blacklisting/whitelisting features?
Yes the project is permissioned. The Fund Token contract is deployed on Ethereum and Arbitrum and has whitelisting capability. Various roles are designed to provide governance on different functions, including minter, burner, whitelist approver etc. The token holder needs to be whitelisted before holding or transferring the token.
3. Is the product present on several chains? Are there any cross chain interactions?
uMINT as of now, is only on Ethereum and are in plans of launching DR-uMINT on Arbirum.
4. Are the RWA tokens being used in any other protocols? Please describe the various components of the ecosystem
uMINT is currently deployed on Ethereum. DigiFT plans to launch DigIFT issued version of uMINT on Arbitrum via depository receipt model.
5. How are trusted roles/admins managed in the system? Which aspects of the solution require trust from users?
Various roles are designed to provide governance on different functions, including minter, burner, whitelist approver etc. The token holder needs to be whitelisted before holding or transferring the token.
The Tokens’ contracts are deployed on Ethereum and Arbitrum, and has whitelisting capability.
6. Is there any custom logic required for your RWA token? If so please give any details.
The token holder needs to be whitelisted before holding or transferring the token.
The token is ERC-20 compatible, with whitelist/ blacklist and force transfer functions to ensure regulatory compliant. The token can be transferred to any whitelisted wallet, however, due to tax consideration, we do not recommend Arbitrum to transfer the token to other addresses that are under different UBO.
DigiFT is happy to address any specific questions related to smart contracts architecture.
Supplementary
1. Please attach any further information or documents you feel would help the screening committee or ARB tokenholders make an informed decision. If you prefer this not to be made public, it can be emailed to rwa@dao.arbitrum.foundation. Please mention in your application that documents have been emailed for committee review.
The following information/supporting documents are to be sent to Arbitrum via email privately:
Legal document, factsheet, sample report and underlying fund information will share via email privately.