Legal structure (Whitelist)
Permissioned (Distributed assets)¶
Overview¶
The legal architecture is designed to grant permissioned (whitelist) token holders direct economic performance to the returns of the underlying assets, as well as access to the value of the assets in the event of liquidation, with institutional-grade bankruptcy remoteness, segregation and liquidation rights all while minimizing regulatory friction with strong legal recourse.
The basic legal and entity architecture of the AXC permissioned token (distributed asset) is as follows:
| Actor | Legal Domicile | Role |
|---|---|---|
| Licensed Virtual Asset Exchange or Licensed Broker Dealer | Various | Provides deposit, withdraw, and custody services in virtual assets for investors |
| Blockchain Service Provider (e.g. AXC) | Caymans | Provides support services |
| Underlying manager | Various | Manages the underlying asset according to investment strategy |
Governing Legal Agreements¶
For the permissionless tokens, the relationships between the entities, the service providers, and the token holders are governed by a framework of legal contracts:
| Contract | Parties | Description |
|---|---|---|
| Contractual Right | Token holders and Licensed Virtual Asset Exchange or Licensed Broker Dealer | Standard qualified investor fund subscription and redemption agreement |
| Blockchain services Contract | Licensed Virtual Asset Exchange or Licensed Broker Dealer and Blockchain service provider | Permits the Blockchain service provider to provide services to Licensed Virtual Asset Exchange or Licensed Broker Dealer |
| Standard broker dealer contract | Custodian and Underlying Manager | Brokerage relationship for subscription and redemption |