OnStack
Board-ready sector maps.
High-level maps of three asset classes, built so decision makers and business units can present and debate the case internally. These briefs are a starting point; a tailored, asset-level map is something we build once we are engaged on the mandate.
Energy & infrastructure
Utilities, IPPs and energy sponsors
What gets tokenized
- Equity or unit interests in the project company holding the plant.
- Contracted revenue strips under a power purchase agreement.
- Construction and expansion tranches raised against a defined build.
Who this is for
- Utilities and independent power producers holding contracted generation.
- Infrastructure sponsors funding construction or expansion tranches.
- Corporate treasury and strategy teams preparing an internal case for a first onchain issuance.
What the structure looks like
- A DIFC or ADGM vehicle holds the asset, with the licence and permits mapped before any token exists.
- Offtake and grid contracts are assigned to the vehicle so cash reaches holders through one waterfall.
- Token terms mirror the shareholder agreement rather than sitting beside it.
What it costs
- A scoped diagnostic phase, priced as a fixed fee against a defined asset and jurisdiction.
- Build cost driven by vehicle formation, licensing route and the number of contracts assigned.
- Ongoing cost sits in reporting, independent engineer input and distribution administration.
Commodities
Mining groups and resource holders
What gets tokenized
- Allocated metal held with a regulated vault operator.
- Production or royalty streams over a defined mine life.
- Offtake rights sold forward against certified reserves.
Who this is for
- Mining groups and resource holders with certified reserves or production.
- Traders and offtakers seeking forward sale of defined material.
- Holders of allocated metal looking for a regulated custody and issuance route.
What the structure looks like
- Title to the underlying sits with the issuing vehicle, never with an operating affiliate.
- Redemption mechanics are written before issuance, including delivery and settlement windows.
- Valuation methodology is fixed in the offering documents and repeated every period.
What it costs
- A scoped diagnostic phase, priced as a fixed fee against the asset and its custody chain.
- Build cost driven by custody arrangements, assay and attestation set-up and redemption design.
- Ongoing cost sits in vault attestation cycles, competent person reporting and screening.
Tokenized funds
Managers, banks and allocators
What gets tokenized
- Fund units across multiple share classes and currencies.
- Feeder interests for a specific investor base or jurisdiction.
- Secondary transfer rights within an approved holder set.
Who this is for
- Managers launching a new vehicle or moving an existing register onchain.
- Banks and distributors building an allocator-facing product line.
- Allocators requiring transfer control and a clean audit trail on every unit.
What the structure looks like
- The token is the register, so administration and the cap table stop diverging.
- Subscription, redemption and gating rules are enforced by the contract, not by email.
- Fund documents, administrator and auditor are aligned to the onchain register from day one.
What it costs
- A scoped diagnostic phase, priced as a fixed fee against the fund and its target jurisdictions.
- Build cost driven by share-class design, transfer agency integration and administrator alignment.
- Ongoing cost sits in NAV publication, register operation and investor onboarding.