Subscription and Redemption
Subscription Process
Following successful completion of onboarding, tokenholders can subscribe for RYTs through the Platform. The Company provides detailed instructions for each subscription including payment amount, designated payment method, and timing requirements.
Upon receipt of subscription funds, the Company acquires the corresponding underlying shares. Following confirmation of share acquisition, the Protocol mints the appropriate number of RYTs and transfers them to the tokenholder's designated wallet address. The entire process typically completes within several business days depending on Underlying Fund processing schedules.
Payment Methods
The Company accepts payment through USDC (USD Coin), a leading stablecoin providing efficient settlement. Additional approved cryptocurrencies may be designated based on operational capabilities and market conditions. The current list of accepted payment methods is available through the Platform.
For tokenholders preferring to subscribe using fiat currency, the Company can facilitate conversion through regulated exchanges or over-the-counter service providers. The Platform provides guidance on available options and associated processing times.
Currency Conversion
When subscription involves currency conversion between fiat and cryptocurrency, the Company arranges conversion through licensed and regulated service providers. Conversion occurs at prevailing market rates through established venues providing transparent pricing.
Any fees associated with conversion are included in the Transaction Costs and clearly communicated during the subscription process. Net proceeds after all applicable costs are used to acquire the underlying shares.
Token Minting
Following acquisition of underlying shares for a tokenholder's account, the Protocol mints the corresponding RYTs. Each RYT is uniquely mapped to a specific Underlying Fund Token provided by Libeara, creating a transparent and verifiable connection between the digital token and the underlying investment.
The minting process is reflected on the blockchain, providing immutable record of token creation. Tokenholders can verify their holdings through their wallet and through the Platform.
Redemption Process
Tokenholders seeking to redeem RYTs submit a redemption request through the Platform. The request specifies the number of RYTs to be redeemed, the destination address or account for proceeds, and confirms current know-your-customer information.
Upon receipt of a valid redemption request, the Company initiates the Redemption Relay process. The specified RYTs are locked to prevent transfer during processing. The Company submits a redemption request to the Underlying Fund for the corresponding shares. Following receipt of redemption proceeds from the Underlying Fund, the locked RYTs are permanently burned and net proceeds are transferred to the tokenholder's designated destination.
The Company provides status updates throughout the process and confirmation upon completion, typically within one business day of receiving proceeds from the Underlying Fund.
Distribution Payments
When the Underlying Fund makes distributions on the underlying shares, the Company passes these distributions through to tokenholders. Distributions are calculated based on each tokenholder's holdings as of the relevant record date and paid net of any applicable withholdings or fees.
Tokenholders receive notification of upcoming distributions through the Platform. Distribution payments are typically made in the same form as the tokenholder's subscription currency, maintaining consistency and convenience. Alternative payment methods can be arranged subject to operational feasibility.
Voting Rights
Tokenholders may provide instructions to the Company regarding voting rights attached to their underlying shares. When the Underlying Fund conducts shareholder votes, the Company notifies registered tokenholders and provides information about the matters under consideration.
Tokenholders submit voting instructions through the Platform within the specified timeframe. The Company exercises voting rights in accordance with tokenholder instructions, subject to the procedural requirements of the Underlying Fund.
Transfer Process
RYTs can be transferred between compatible blockchain addresses. Transfers occur through standard blockchain transaction mechanisms. The transferee should complete know-your-customer verification with the Company to ensure full access to redemption and other rights.
The Company updates its internal register following verification procedures. This approach balances the efficiency of blockchain transferability with necessary compliance requirements.