T-REX Capital Market

Demo

About

**T-REX Capital Market** is a tokenization platform for regulated digital assets, built for institutions, asset managers, issuers, and investors that want to bring financial products onchain while maintaining control over who can participate, hold, and transfer those assets. Most institutional tokenization is not a purely permissionless DeFi problem. Institutions operate within legal and compliance frameworks, their users are often not crypto-native, and issuers need control over the full asset lifecycle. They need to know who owns an asset, restrict who can receive it, enforce investor limits, onboard legal entities through KYC/KYB, and manage issuance, investment, transfer, and redemption. T-REX combines **ERC-3643 regulated tokens, OnchainID identities, Privy embedded wallets, USDC settlement, and Arc** into one institutional workflow. Users onboard through a familiar Web2-style experience using **email and KYC/KYB**. Privy creates and manages an embedded wallet for the user, so they do not need MetaMask, seed phrases, or prior Web3 experience. Once onboarded, an issuer can use the **Token Issuance Wizard** to configure and deploy an ERC-3643 regulated token on **Arc Testnet**. The issuer can define compliance rules such as jurisdiction restrictions, maximum investor balance, and maximum investor count. ERC-3643 enforces eligibility at the token layer, so only qualified identities can hold or receive the asset. Eligible investors can discover an offering, subscribe using **USDC**, receive the corresponding regulated tokens, and later redeem their position back into USDC. A wallet that does not satisfy the required identity or compliance conditions cannot participate, demonstrating that compliance is enforced **onchain rather than only in the frontend**. USDC is used as the common payment and settlement asset for subscriptions and redemptions. Arc is an intentional choice for T-REX because **USDC is both our settlement asset and the native gas token on Arc**. This creates a much simpler institutional experience. A user holding USDC to invest in a dollar-denominated financial product does not also need to acquire and manage a separate volatile gas token just to interact with the platform. T-REX is not a hackathon-only proof of concept. It is a **fully functional product that we intend to launch on Arc Mainnet**. T-REX also includes a wallet-management layer. Users can fund their Privy wallet through a **fiat on-ramp** and move USDC between **Ethereum Sepolia and Arc Testnet using Circle CCTP**, giving the platform both traditional and cross-chain capital entry rails. T-REX is not limited to traditional real-world assets. The same regulated ownership framework can support **private-market assets, tokenized funds, managed onchain portfolios, yield strategies, or other financial products** that require an identified and permissioned investor base. The result is a complete regulated capital-market workflow where **identity, wallet onboarding, compliance, token issuance, stablecoin settlement, redemption, and cross-chain liquidity work together as one system.**

How it's made

T-REX Capital Market is a web3 application built with **React, Node.js, ERC-3643/T-REX, OnchainID, Privy, Arc, USDC, and Circle CCTP**. The **React frontend** provides separate issuer and investor workflows for onboarding, KYC/KYB, token issuance, investment, portfolio management, redemption, fiat funding, and cross-chain USDC transfers. Blockchain actions are signed through **Privy embedded wallets**, giving users a Web2-style experience without exposing private keys or requiring external wallets. The **Node.js backend** acts as the orchestration layer between the application database, Privy, and smart contracts. It manages organizations, investors, compliance documents, token metadata, pricing, transaction records, and reconciliation. Application state and blockchain state are kept separate, with onchain activity treated as the authoritative source for asset ownership and transaction state. The tokenization layer uses **ERC-3643/T-REX**. Each token is connected to its own `IdentityRegistry` and `ModularCompliance` configuration, so transfers, mints, and burns are permissioned based on investor identity and issuer-defined compliance rules. We implemented reusable compliance modules including: - `CountryRestrictModule` - `MaxBalanceModule` - `MaxInvestorsModule` These modules are deployed once and configured independently for each token instead of duplicating contract logic for every issuance. `MaxInvestorsModule` derives the investor count from actual token balances, keeping enforcement tied directly to onchain ownership. Investor identity is managed through **OnchainID**. An `IdFactory` creates deterministic Identity contracts for wallets, while investor eligibility is represented through signed claims. KYC/KYB documents remain offchain, so sensitive personal information is not stored inside token contracts. The blockchain only needs the identity and claims required to determine whether an investor is eligible. **Privy provides email OTP authentication and embedded EVM wallets.** Privy's **ES256 identity token** is verified server-side, and the embedded wallet becomes the signer for blockchain transactions. This allows institutional and non-crypto-native users to interact with onchain infrastructure without managing seed phrases or browser wallets, while Privy's programmable wallet controls provide additional safeguards for institutional workflows. Purchases and redemptions are coordinated through a `TREXPlatformController` authorized as a token Agent. For a purchase: 1. The investor approves USDC. 2. USDC transfers directly from the investor to the issuer. 3. The corresponding regulated tokens are minted to the eligible investor. For a redemption: 1. The investor's regulated tokens are burned. 2. USDC is settled back to the investor using the issuer's approved allowance. The controller coordinates the asset and settlement legs while ERC-3643 independently determines whether the investor is eligible to hold the regulated token. T-REX smart contracts are deployed on **Arc Testnet**. **USDC has two responsibilities in the system:** - Payment and settlement for investments and redemptions. - Transaction fees on Arc. This removes the need for institutional users to acquire an unrelated native token simply to pay gas. The wallet-management interface integrates **Circle CCTP** for moving USDC between **Ethereum Sepolia and Arc Testnet in both directions**. This allows users to bring cross-chain USDC liquidity into T-REX and use the resulting balance directly for regulated investments and settlement. Indexing and reconciliation services track **token deployments, identities, claims, purchases, redemptions, and other blockchain events**. This allows application state to be reconciled against, and reconstructed from, onchain activity. T-REX is being built as a **production product rather than a hackathon-only MVP**. We are extending wallet support beyond Privy with **WalletConnect, Safe, and MetaMask** to support different institutional wallet requirements. After completing these integrations, the platform can be configured for **Arc Mainnet** and moved from the current testnet environment into production.