Technical reference

USDPROP Technical Architecture

USDPROP is an ERC-3643-based issuance and investor operations platform built on Polygon using ONCHAINID, IdentityRegistry, ClaimIssuer, compliance modules, USDC settlement and multisig treasury controls.

Network
Polygon Mainnet
Standard
ERC-3643
Identity
ONCHAINID
Settlement
USDC
Treasury
Safe Multisig
Compliance
ModularCompliance
Status
Mainnet deployed

Technical reference

Contract architecture and stack parameters.

Core deployment assumptions, upgrade model and operational role notes for technical review. Values are sourced from the current deployment artifact and public Polygon addresses where available.

Contract architecture

14 deployed contract components on Polygon mainnet (chainId 137) are covered by the deployment pack. Core proxies follow the UUPS upgrade model; upgrade execution is intended to be controlled through the Safe multisig.

Topology Summary

Core Operational Contracts
9
Full Production Topology
12
Total Deployed Components
14

The Smart Contract Structure & Deployment Report contains the complete contract inventory, deployment topology and interaction model.

Download Smart Contract Structure Report

Roles and permissions

Operational agents are separated across deployer, execution, admin, KYC issuer and NAV roles. Current artifact uses the same EOA for adminAgent and navAgent, so role separation should be reviewed before formal production sign-off.

ParameterCurrent value
NetworkPolygon mainnet, chainId 137
Token standardERC-3643 (T-REX protocol)
IdentityONCHAINID, ERC-734 / ERC-735 identity and claim model
Proxy patternUUPS, OpenZeppelin upgradeable pattern for core upgradeable contracts
Payment tokenUSDC native Polygon, 0x3c499c542cEF5E3811e1192ce70d8cC03d5c3359
TreasurySafe multisig, 2/3 threshold in current deployment artifact
ComplianceReg D 506(c), Reg S and EU MiFID II operational support model
ToolingHardhat, ethers.js, OpenZeppelin

CORE STANDARDS & DEPENDENCIES

Technology Stack

Core protocols, identity standards, settlement components and dependencies used by the USDPROP architecture.

ERC-3643

Permissioned Security Token Standard

ONCHAINID

Identity & Claims Framework

Polygon

Settlement Network

USDC

Settlement Asset

Safe

Treasury Governance

Technical Due Diligence Quick View

Core Contracts
9
Full Topology
12 contracts
Deployed Components
14
Roles
8 operational roles
Upgrade Model
UUPS + Safe governance
Treasury
Safe multisig (2/3)
Identity
ONCHAINID + ClaimIssuer
Settlement
USDC on Polygon
Deployment
Mainnet
Validation
227 automated tests
Pass Rate
100%

Due Diligence Assets Available

  • Architecture Package
  • Regression Validation Report
  • Smart Contract Structure Report
  • Deployment Records
  • Contract Inventory
  • Roles Matrix
  • Upgradeability Matrix

Primary Technical Artifacts

Architecture Package How the system is built
Validation Report How the system is tested
Smart Contract Structure Report What is deployed and how components interact

01 / System architecture

On-chain enforcement with off-chain eligibility inputs.

USDPROP separates investor onboarding and legal review from token transfer enforcement. Off-chain systems collect documents and KYC payloads. On-chain registries store identities, issuers and claim references used by the token compliance layer.

  1. 01InvestorWallet, documents, consent signatures
  2. 02KYC ProviderOff-chain checks and status payloads
  3. 03ClaimIssuerAttests approved claim topics
  4. 04IdentityRegistryMaps wallet to ONCHAINID identity
  5. 05ERC-3643 TokenRestricted ownership unit
  6. 06InvestmentManagerSubscription and consent execution
  7. 07NAVOraclePrice and NAV source for operations
  8. 08DividendDistributorDistribution accounting and claims
  9. 09Safe TreasuryMultisig controlled assets and approvals

Component map

  • Investor app: wallet connection, status display, consent signing.
  • Backend: API, signature verification, transaction execution path.
  • Contracts: identity, compliance, issuance, NAV and distribution modules.
  • Document room: private placement templates and review artifacts.

Dependency map

  • Token depends on IdentityRegistry and ModularCompliance.
  • IdentityRegistry depends on trusted issuers, claim topics and storage.
  • InvestmentManager depends on USDC, token minting permissions and NAV inputs.
  • DividendDistributor depends on token balances, accounting state and treasury funding.

Trust boundaries

  • KYC decisioning remains off-chain.
  • Claims are on-chain attestations from authorized issuers.
  • Treasury movements require Safe signer approval.
  • Admin and upgrade authority must be reviewed per deployment.

On-chain responsibilities

Identity registration, claim verification, transfer eligibility, issuance, burn, NAV reads, dividend accounting and event emission.

Off-chain responsibilities

Document intake, KYC/AML review, accreditation evidence, API validation, user interface state, operational monitoring and administrative workflows.

Contract inventory

Contract Inventory

Deployed contracts, responsibilities and upgrade status. Address cells include Polygonscan and source links for direct review.

ContractCategoryStandardUpgradeableAddress
USDPROP TokenIssuance / ownership recordERC-3643Yes0x6F6c...5826PolygonscanSource
IdentityRegistryIdentity registryONCHAINID / ERC-734 / ERC-735Yes0x82e0...6bacPolygonscanSource
ModularComplianceTransfer compliance engineT-REX ModularComplianceYes0x42a1...1294PolygonscanSource
USDPROPComplianceModuleCustom compliance moduleCompliance modulePending Review0x6A78...bDccPolygonscanSource
ClaimIssuerClaim attestation issuerONCHAINID ClaimIssuerNo0x656B...a61aPolygonscanSource
InvestmentManagerSubscription executionEIP-712 + USDC settlementYes0xe901...949fPolygonscanSource
NAVOracleNAV referenceOracle adapterYes0x356B...F9a9PolygonscanSource
DividendDistributorDistribution accountingDistribution moduleYes0x26Fa...D1D1PolygonscanSource
Safe TreasuryTreasury controlSafe multisigConfigurable0xe1f7...f92cPolygonscanSource

02 / Smart contract suite

Deployed contract responsibilities and dependencies.

Source code links point to the Polygonscan code tab for each address. Upgradeability and verification status are summarized in the primary matrices below.

USDPROP Token

ERC-3643 restricted token representing the ownership record governed by identity and compliance checks.

Owner role
Token owner / admin agent
Upgradeability
See Upgradeability Matrix and Polygonscan record.
Dependencies
IdentityRegistry, ModularCompliance, agents
Polygonscan Source code

IdentityRegistry

Registry that links investor wallets to ONCHAINID identities and eligible claim topics.

Owner role
Identity registry owner / identity agent
Upgradeability
See Upgradeability Matrix and Polygonscan record.
Dependencies
IdentityRegistryStorage, TrustedIssuersRegistry, ClaimTopicsRegistry
Polygonscan Source code

ModularCompliance

Compliance orchestration contract used by token transfers to validate module-level restrictions.

Owner role
Compliance owner / admin agent
Upgradeability
See Upgradeability Matrix and Polygonscan record.
Dependencies
USDPROPComplianceModule, Token, IdentityRegistry
Polygonscan Source code

ClaimIssuer

Issuer contract used to sign and publish claim attestations accepted by the IdentityRegistry.

Owner role
KYC issuer / claim signer
Upgradeability
See Upgradeability Matrix and Polygonscan record.
Dependencies
Claim topics, trusted issuers registry, ONCHAINID identities
Polygonscan Source code

InvestmentManager

Execution contract for subscription flows, consent checks, USDC transfer and token issuance.

Owner role
Execution agent / admin agent
Upgradeability
See Upgradeability Matrix and Polygonscan record.
Dependencies
USDC, USDPROP Token, NAVOracle, investor consent signatures
Polygonscan Source code

NAVOracle

NAV source used by investment and distribution operations to reference pricing state.

Owner role
NAV agent
Upgradeability
See Upgradeability Matrix and Polygonscan record.
Dependencies
NAV update policy, admin controls, consuming contracts
Polygonscan Source code

DividendDistributor

Distribution accounting contract for dividend lifecycle and investor settlement claims.

Owner role
Distribution agent / treasury approver
Upgradeability
See Upgradeability Matrix and Polygonscan record.
Dependencies
USDPROP Token, USDC funding, NAV/accounting inputs
Polygonscan Source code

Safe Treasury

Multisig treasury address used for controlled assets, approvals and operational funding.

Owner role
Safe owners, threshold 2 of 3 in deployment artifact
Upgradeability
See Upgradeability Matrix and Safe record.
Dependencies
Signer set, threshold policy, treasury procedures
Polygonscan Source code

Roles and permissions

Roles & Permissions Matrix

Operational authority boundaries and control responsibilities. Role separation reduces single-key blast radius; formal review should confirm current assignees, signer custody and any overlapping authority.

RoleControlsCriticality
OwnerContract ownership, role assignment, upgrade/admin handoff and emergency authority depending on the contract.Critical
ClaimIssuerSigns, updates and revokes investor claim topics for KYC, AML, accreditation and jurisdiction status.Critical
AdminAgentOperational configuration, parameter changes and administrative workflows authorized by ownership policy.High
NAVAgentNAV and accounting references consumed by investment, redemption and distribution workflows.High
DistributionAgentDistribution lifecycle preparation, entitlement accounting and settlement operation support.High
SafeSignerApproves treasury movements and upgrade execution through the Safe threshold model.Critical
IdentityAgentRegisters ONCHAINID mappings and wallet-to-identity relationships used by transfer checks.High
ComplianceAgentConfigures claim topics, trusted issuers, transfer modules, lockups and eligibility restrictions.Critical

Upgradeability matrix

Upgradeability Matrix

What can be upgraded. Pattern labels reflect current deployment documentation and should be confirmed against Polygonscan proxy records during formal review.

ContractUpgradeablePattern
USDPROP TokenYesUUPS
IdentityRegistryYesUUPS
ModularComplianceYesUUPS
ClaimIssuerNoImmutable
InvestmentManagerYesUUPS
NAVOracleYesUUPS
DividendDistributorYesUUPS
Safe TreasuryConfigurableSafe Configuration

03 / Upgrade path

How contract upgrades work.

Core upgradeable contracts follow the UUPS pattern. Upgrades should require Safe multisig approval, and no single key should be able to upgrade unilaterally after ownership transfer.

Current Upgrade Authority Safe Treasury Threshold: 2 of 3

All production upgrades are expected to require Safe approval before execution.

  1. 1New implementation deployed to Polygon.Implementation address is recorded and prepared for review.
  2. 2Safe proposal created.The transaction calls upgradeToAndCall(newImpl, data) on the proxy.
  3. 32 of 3 Safe signers approve and execute.Proxy storage is preserved and execution is visible on-chain.
  4. 4New logic active.Upgrade event is emitted and can be verified on Polygonscan.

Storage layout rule

Storage layout must be preserved across upgrades. New variables are appended only. Existing slots must not be reordered, removed or type-mutated.

04 / Investment flow

investWithConsent() execution path.

The investment path uses investor consent, backend verification and on-chain settlement. Exact ABI parameters must be confirmed against the deployed contract before production integration.

  1. InvestorSigns EIP-712 consent messageAmount, minimum output, deadline and nonce are included in signed data.
  2. BackendVerifies wallet, consent and request envelopeRejects expired deadline, reused nonce and malformed payloads.
  3. InvestmentManagerExecutes investmentCalls transfer path and validates token issuance conditions.
  4. USDCTransfers subscription amountAllowance and balance checks apply before settlement.
  5. USDPROP TokenIssues restricted ownership unitsMinting depends on role permissions and compliance state.
  6. Event logEmits execution eventUsed for audit trail, UI state and operations review.

Nonce handling

Consent messages must be single use. Backend and contract state should reject replayed nonces.

Deadline handling

Signed intent includes an expiry. Expired execution requests must fail before value movement.

Slippage controls

Minimum token output or equivalent acceptance condition protects the investor from stale NAV assumptions.

Replay protection

EIP-712 domain separation, chain ID, contract address and nonce are required to prevent cross-context reuse.

05 / Redemption flow

redeemWithConsent() control path.

The redemption path mirrors investment consent patterns and adds validation around burn, settlement availability and redemption policy.

  1. InvestorSigns EIP-712 redemption intentToken amount, minimum USDC output, deadline and nonce are included.
  2. BackendPerforms redemption validationChecks wallet state, eligibility, nonce, deadline and operational policy.
  3. TokenBurns redeemable ownership unitsOrder of operations must prevent double settlement and partial accounting drift.
  4. USDCTransfers redemption proceedsTreasury funding and allowance paths must be reviewed per deployment.
  5. Event logEmits redemption eventProvides audit evidence for investor and fund operations.

Consent model

Investor consent is explicit and scoped to the intended redemption parameters. The same signing policy should be used by the UI, backend and contract verification path.

Redemption controls

Controls can include eligibility review, redemption windows, NAV freshness, liquidity availability, lockups and manual approval gates.

06 / Identity and claims

ONCHAINID identities and issuer-backed claim topics.

Investor eligibility is represented through identity registration and claim attestations. Legal and KYC evidence remains outside the token contract. The token reads registry and compliance state before transfers.

ONCHAINID

Identity layer for associating wallet addresses with investor identity contracts and verifiable claims.

IdentityRegistry

Canonical registry used by the token to determine whether sender and recipient identities satisfy the required state.

ClaimIssuer

Authorized issuer that creates, updates or revokes claims used by compliance checks.

KYC AML Accredited Investor Reg D Reg S
  1. CreateKYC provider approves an investor profile and prepares claim payload.
  2. IssueClaimIssuer signs and publishes the relevant claim topic for the ONCHAINID identity.
  3. VerifyIdentityRegistry and token compliance checks read issuer and claim-topic state.
  4. UpdateClaims can be refreshed for expiry, jurisdiction, accreditation or policy changes.
  5. RevokeIssuer or admin workflow removes trust when investor state changes.

07 / Compliance engine

Transfer validation before ownership movement.

ERC-3643 transfer validation routes through registry and compliance checks before token balances move. Compliance modules encode restrictions that are external to standard ERC20 behavior.

canTransfer()

Pre-transfer check used to test whether sender, recipient and amount satisfy registry and module requirements.

moduleCheck()

Module-level validation for country restrictions, limits, lockups or custom policy constraints.

Claim requirements

Transfer permissions can depend on KYC, AML, accreditation, Reg D and Reg S claims.

ControlInputEnforcement point
Investor eligibilityIdentity and claimsIdentityRegistry and token transfer path
Country restrictionsJurisdiction claim or registry metadataCompliance module
LockupsInvestor or issuance timestampCompliance module
Transfer restrictionsSender, recipient, amountcanTransfer() and module checks

Technical comparison

ERC20 vs USDPROP controlled issuance model

A simple ERC20 transfer model does not include investor identity, eligibility, transfer restrictions, treasury controls or servicing logic. USDPROP combines ERC-3643 issuance with ONCHAINID, issuer-backed claims, compliance modules and operational controls.

ERC20 simple

Does not know who buys.

Does not validate KYC.

Does not block transfers.

Does not distribute dividends.

USDPROP Stack

Identity through ONCHAINID.

KYC and AML claims.

Compliance on transfers.

Safe multisig and separated agents.

Operational modules

Launch modules and integration surfaces around the deployed issuance, identity, compliance, settlement and treasury system.

  1. Circle CCTP by JavaScriptUSDC entry from other networks into Polygon.
  2. KYC providerKYC works with both ONCHAINID and off-chain provider flows. Real integration with audited payload.
  3. Admin panel includedDaily operation without touching scripts.
  4. KYC panel includedOperational panel for reviewing KYC status, claims and investor eligibility.
  5. Onboarding KYC app includedInvestor-facing onboarding flow for KYC collection and verification.
  6. MonitoringAlerts for NAV, upgrades, roles and dividends.

08 / Treasury governance

Safe multisig as the treasury control boundary.

The deployment artifact records a 2 of 3 Safe threshold. Formal diligence should review owners, modules, spending policies, recovery plan and signer rotation procedures.

Signer ADeployer
Signer BAdmin agent
Signer CKYC issuer
Safe Treasury2 of 3 threshold

Approvals

Treasury operations require threshold approval before asset movement or operational funding.

Signer rotation

Rotation should be documented with an approval trail, owner replacement procedure and incident escalation path.

Threshold model

Threshold must balance liveness and compromise risk. Current deployment artifact records 2 of 3.

09 / Dividend distribution

NAV-based accounting and investor settlement lifecycle.

The distribution layer uses NAV/accounting inputs and token ownership state to calculate investor entitlement and settlement workflow.

Distribution lifecycle

  1. Update NAV or accounting reference.
  2. Prepare distribution amount and eligible holder state.
  3. Fund distribution source with USDC.
  4. Record distribution event and investor entitlements.
  5. Settle or claim according to the deployed mechanism.

Investor settlement lifecycle

  1. Investor remains eligible under current claims.
  2. Balance snapshot or equivalent accounting state is checked.
  3. USDC settlement path executes.
  4. Event trail updates the investor app and operations records.

10 / Security model

Threat model, mitigations and residual risks.

This section documents known security assumptions. It does not replace a formal audit, threat model workshop or deployment-specific key ceremony.

RiskMitigationResidual risk
Admin key riskUse multisig, role separation, least privilege and monitored admin actions.Compromised quorum or poorly scoped roles can still affect system state.
Oracle manipulationRestrict NAV writer role, require review process and monitor NAV changes.Incorrect NAV input can affect issuance, redemption or distribution calculations.
Signer compromiseSafe threshold, hardware wallets, signer rotation and incident runbook.Threshold compromise remains a critical custody event.
Claim issuer compromiseDedicated issuer keys, issuer monitoring, claim revocation and registry controls.Invalid claims can create improper eligibility until detected and revoked.
Replay attacksEIP-712 domain separation, nonce tracking, deadlines and chain ID binding.Implementation defects in nonce or domain handling can reintroduce replay paths.
Upgrade riskPublish upgrade policy, require review, use timelocks where applicable and monitor bytecode changes.Upgrade authority remains a governance trust assumption unless fully removed.

11 / Deployment records

Polygon deployment artifact.

Deployment values are sourced from investor-app/src/contracts/deployment.json. Per-contract verification status is tracked below.

NetworkPolygon
Chain ID137
Deployment time2026-05-20T19:24:58.692Z
Verification reviewPer contract

Verification Status Notes

Verified
Source code matches deployed bytecode and is publicly available.
Pending
Verification review has not yet been completed or published.
Not Verified
No public verification record currently available.
ComponentAddressVerification StatusRecord
USDPROP Token0x6F6c5Ab2865E028beDFEbabD86E046D73EAC5826VerifiedPolygonscan
IdentityRegistry0x82e04Ac5abC1c6979781aeB2ACa5133B59f86bacVerifiedPolygonscan
ModularCompliance0x42a133b07c53FEb1043Ac84481993ceec72D1294VerifiedPolygonscan
USDPROPComplianceModule0x6A7863dF05D06956bfE8B7650f2c2983e214bDccVerifiedPolygonscan
ClaimIssuer0x656B7DDFf86ce7aBE9E86A8bf97642d55B95a61aVerifiedPolygonscan
NAVOracle0x356B60F2600D0454871F9492a4B90cE750b0F9a9VerifiedPolygonscan
InvestmentManager0xe901ef0395850A217b19F2cc0819527ae4D2949fVerifiedPolygonscan
DividendDistributor0x26FaD8d74c2Eb3461c94e5CeAC8e8AEb48e6D1D1VerifiedPolygonscan
Safe Treasury0xe1f7615962BcFEE1C9992A2c501702130835f92cVerifiedPolygonscan
USDC0x3c499c542cEF5E3811e1192ce70d8cC03d5c3359VerifiedPolygonscan

12 / ABI and integration

Integration references and fresh deployment checklist.

Local ABIs are stored in investor-app/src/contracts/abis.js. A clean mainnet deployment is estimated at 4 to 6 hours including Safe setup and ClaimIssuer configuration.

Repository Structure

Reference layout used for deployment, testing, integration and operations.

  • contracts/Solidity contracts and interfaces
  • deploy/Deployment configuration and network artifacts
  • scripts/Operational scripts and deployment helpers
  • test/Unit, integration and regression tests
  • docs/Architecture and diligence documents
  • frontend/Investor-facing runtime application
  • backend/API, execution agent and integration services

External Dependencies

External protocols, libraries and infrastructure components relied upon by the deployment.

Polygon USDC OpenZeppelin Safe T-REX ONCHAINID

Prerequisites

  • Polygon RPC endpoint
  • Deployer EOA with POL for gas
  • Safe multisig configured, 2/3 threshold
  • USDC balance for initial NAV test
  • KYC agent EOA, separate from owner

Deploy order

  1. Identity contracts (ONCHAINID)
  2. Compliance module
  3. Token (ERC-3643)
  4. NAVOracle and InvestmentManager
  5. DividendDistributor
  6. Transfer ownership to Safe

Transaction example

const manager = new ethers.Contract(
  INVESTMENT_MANAGER,
  investmentManagerAbi,
  signer
);

// Pseudocode. Confirm exact ABI before execution.
await manager.investWithConsent({
  amountUSDC,
  minTokensOut,
  deadline,
  nonce,
  signature
});
Event categoryOperational useConsumer
Investment executionSubscription audit trail and investor app stateBackend, investor app, operations logs
Transfer validationRestricted ownership movement evidenceCompliance review, operations
Claim updateKYC/eligibility change trailKYC panel, compliance review
DistributionDividend lifecycle and settlement stateInvestor app, fund operations

13 / Gas and operations

Indicative gas ranges.

Ranges are operational estimates. USD equivalents are illustrative only. Actual cost changes with network gas price, POL/USD price, bytecode, module configuration and state access patterns.

OperationIndicative gas rangeApprox. USD feePrimary drivers
Onboarding registration120k to 260k≈ US$0.0003 to US$0.0007Identity registration, storage writes, claim topic checks
Claim issuance90k to 220k≈ US$0.0002 to US$0.0006Issuer signature, identity state, topic storage
Investment180k to 380k≈ US$0.0005 to US$0.0010USDC transfer, consent verification, token issuance, events
Redemption160k to 340k≈ US$0.0004 to US$0.0009Consent verification, token burn, USDC transfer, events
Restricted transfer90k to 190k≈ US$0.0002 to US$0.0005Registry lookup, module checks, balance update
Dividend distribution140k to 320k plus variable settlement cost≈ US$0.0004 to US$0.0009 baseAccounting writes, funding path, per-investor settlement model

Regression Test Coverage

Automated validation across critical operating paths.

Automated regression coverage validates deployment, hardening, identity, claims, compliance, investments, redemptions, treasury operations, governance controls and security-critical behavior.

A dedicated test validation report is available separately.

Regression Validation Report

Independent review package documenting regression coverage, security controls, protocol invariants, governance validation and operational risk assumptions.

The USDPROP validation suite covers deployment, hardening, identity, claims, compliance, investments, redemptions, treasury operations, governance controls, security protections and historical vulnerability regressions.

227Automated Regression Tests
13Functional Categories
42Access-Control Tests
74Negative-Path Tests
19Critical Security Behaviors
100%Pass Rate

Coverage Highlights

  • 227 Automated Tests
  • 74 Negative-Path Scenarios
  • 42 Access-Control Tests
  • 19 Critical Security Behaviors
  • Governance Validation
  • Treasury Validation
  • Compliance Validation
  • Deployment Validation
  • Threat Model Coverage

All tests are documented in the dedicated Validation Report.

Includes

  • Executive Validation Dashboard
  • Coverage Metrics
  • Security Requirements Matrix
  • Protocol Invariants
  • Negative Scenario Coverage
  • Audit Evidence Matrix
  • Trust Assumptions
  • Operational Failure Scenarios
  • Red Team Review

14 / Audit and review status

Published review state and known limitations.

Do not treat this page as an audit report. It is a technical architecture reference for review preparation.

Audit status

No external audit report is published in this repository at this time.

Review status

Deployment records and public addresses are available. Formal verification, source matching and role review must be performed per deployment.

Planned upgrades

Recommended review areas include monitoring, admin runbooks, signer continuity, KYC provider adapters, gas reporting and source verification pack.

Validation Status

227 automated regression tests currently pass across deployment, compliance, governance, treasury and security-critical workflows.

See Validation Report for detailed coverage and evidence mapping.

Known limitations

  • KYC provider decisions are off-chain trust inputs and require provider-level due diligence.
  • NAV inputs require operational governance and monitoring.
  • Admin roles, issuer roles and Safe signer policies remain deployment-specific trust assumptions.
  • Gas ranges are estimates and should be profiled against deployed bytecode.

15 / Documentation

Primary technical due diligence artifacts.

Review architecture, validation evidence, deployment records and source references before conducting independent verification.