The following document explains the process flow and interactions between the various stakeholders and components in WhiteRock’s ecosystem for asset tokenization and fund management.
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1. User Onboarding
The process begins with users who wish to access WhiteRock’s asset tokenization platform. Users interact with the Customer Layer, which includes the following steps:
Registration: Users sign up using familiar web2 credentials, such as email and password, to ensure an easy and straightforward onboarding experience.
Web3 Wallet Creation: A Web3 wallet is created for the user by the wallet provider. This wallet is used to interact with WhiteRock's blockchain infrastructure for deposits, transactions, and redemptions while keeping the entire wallet self-custodial.
KYC & AML Verification: To comply with global regulatory standards, every user undergoes Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. Only after successful clearance can users access the platform’s financial services.
USDT Deposits/Redemption: Users can deposit USDT into their account or redeem their holdings via the dApp.
2. Backend Operations
This layer represents WhiteRock’s operational backbone.
Compliance Approval: Every user transaction, whether a deposit, trade, or redemption request, is reviewed by the compliance team. Transaction will only proceed after approval. This ensures adherence to the platform's regulatory obligations.
Order Processing: Once a transaction is approved, it is routed through WhiteRock’s backend systems. Orders are processed and forwarded to conversion.
3. Money Flow
The money flow layer depicts the movement and conversion of user funds, enabling the purchase of real-world assets:
USDT Conversion to USD: Users’ USDT deposits are converted to USD via Coinbase Prime, a secure and trusted crypto-to-fiat gateway. The USD is then transferred to WhiteRock’s bank account for further processing.
WhiteRock’s Partnership with Akula Investment Management: The USD is directed to Akula Investment Management, WhiteRock’s trusted fund manager, for investment in the DeepSea Fund, a segregated bankruptcy-remote portfolio exclusively managed for WhiteRock clients.
Broker Integration: Akula executes trades via brokers to purchase real-world assets, such as Apple stock, based on fund strategies and user demand.
4. Custodial Services and Asset Management
After trades are executed, the purchased assets are secured and tokenized:
Custodian Services: Assets purchased (e.g., Apple stock) are held securely by a custodian. The custodian maintains a balance sheet reflecting ownership and ensures the assets’ integrity and legal compliance.
DeepSea Fund Tokenization: Assets managed by Akula and held by the custodian are tokenized under the DeepSea Fund, a segregated portfolio company dedicated to WhiteRock clients. USDT is used as a representation of fractional ownership or economic rights to these real-world assets.
Key Relationships and Policies
Akula Investment Management: Acts as the fund manager, overseeing trade execution and adherence to investment policies. Akula exclusively uses the DeepSea Fund for WhiteRock and its clients.
WhiteRock’s Role: WhiteRock acts as an intermediary between users and the financial ecosystem, ensuring a seamless integration of traditional finance (TradFi) and blockchain-based systems.
