oTFY is a private-credit token that gives holders a claim to principal and interest from a revolving portfolio of trade-finance bonds. Swiss law governs the portfolio's main assets: investment-grade trade-finance bonds that a Cayman Islands company issues. Each holder owns a legally enforceable debt claim for principal and interest that the applicable bond issuer must pay. oTFY also gives holders a claim on the revolving portfolio's net asset value.
Real-world corporate borrowers make the payments that produce the fixed return. TradeFlow Capital Management is the underlying issuer, and the ultimate financed assets are physical commodities. The TradeFlow USD Fund carries a BBB rating, and TradeFlow strategies have held investment-grade ratings since 2021.
Obligate is the issuer brand, and Obligate AG is its Swiss legal entity. oTFY operates under Switzerland's DLT Act and FINMA framework, and Obligate AG belongs to the FINMA-supervised VQF as a Swiss anti-money-laundering financial intermediary. Exponential Science Capital led Obligate's October 2025 capital increase, while Republic Europe participants and several named individuals also invested. oTFY launched on June 30, 2026. Deloitte serves as auditor.
oTFY uses the SPL Token program on Solana and has no configured bridge. Investors complete KYC through Sumsub, companies also complete KYB, and approved participants use approved wallets to transfer USDC or USDT by weekly subscription dates. After the issuer confirms payment, it delivers the purchased tokens to each investor's designated wallet. Yield reaches payment-date holders through claimable scheduled coupon or maturity payments instead of growth in net asset value or rebasing. For scheduled coupons, holders use transferable payment-redemption tokens to claim funds from escrow. At maturity, holders burn redemption tokens and receive principal plus the final coupon from escrow.
A single externally-owned address can mint oTFY and controls supply; no on-chain multisig is visible. A single externally-owned address can freeze holders' oTFY; no on-chain multisig is visible. Holders bear responsibility for protecting the private keys that control their self-custodied assets. Holders must complete the required identity checks, and companies must also complete business checks. Holders may transfer the debt token unless the issuer limits transfers to approved participants or approved-wallet systems. Holders must give seven days' notice for weekly redemptions and rely on the stated weekly capacity target under normal conditions. Holders may not receive repayment by maturity if a corporate borrower defaults. Holders in secured issuances can rely on the security agreement to liquidate pledged collateral after a missed scheduled payment triggers immediate default. Holders bear smart-contract, blockchain-infrastructure, interoperability, and on-chain-enforceability risks.
The exact oTFY exit mechanism remains disputed because the sources describe different subscription and redemption structures. The exact legal relationship between the debt claim and the stated claim on portfolio net asset value remains unclear. The supplied facts do not identify the individual corporate borrowers or the specific physical commodities. Credora validates lending-risk metrics, but the facts do not establish whether that service covers oTFY. The stated technology-risk description names Polygon, Ethereum, and connected networks, so its exact application to oTFY on Solana remains unclear.
oTFY is an asset-backed credit token that gives holders exposure to financing for physical commodity trade. unverified
oTFY represents a claim on the net asset value of a revolving portfolio that consists primarily of Swiss-law trade-finance bonds. unverified
A separate segregated portfolio company domiciled in the Cayman Islands issues the portfolio's investment-grade trade-finance bonds. unverified
oTFY accumulates income rather than distributing it; holders can request weekly redemption with seven days' written notice and receive wallet settlement at T+2. unverified
The issuer limits oTFY subscriptions to non-U.S. accredited investors who first complete its KYC and AML procedures. unverified
Obligate states that investor onboarding usually takes one to three business days after the investor completes those checks. verified
Approved investors subscribe by transferring USDC or USDT to the issuer's designated wallet by the weekly subscription date. unverified
The product schedules subscription processing dates weekly, starting seven calendar days after the first issuance date. unverified
The issuer confirms the received funds, then uses the tokenization platform to issue oTFY eTracker tokens to the investor's wallet. unverified
Investor subscriptions support a revolving portfolio of mainly Swiss-law trade-finance bonds that finance physical commodity trade. unverified
TradeFlow states that its Risk Transformation Engine structures physical commodity import-export transactions into institutional-grade, asset-backed investments. unverified
TradeFlow says its model takes legal title to the goods instead of lending money. verified
Portfolio income stays in oTFY, so the holder's claim gains value through net asset value accrual. unverified
Chainlink infrastructure brings key oTFY net asset value data onchain. verified
A holder can redeem any portion weekly by submitting written notice seven calendar days before a weekly redemption valuation date. unverified
The vault targets weekly redemption capacity of at least one-twelfth of net asset value under normal market conditions. unverified
The vault reduces payouts pro rata when requests exceed available assets, and holders must submit new notices for unpaid amounts. unverified
| Metric | Value |
|---|---|
| Minimum investment | 100000USDC |
| Minimum redemption | 0USDC |
| Redemption notice | 7calendar days |
| Settlement after valuation | 2business days |
oTFY gives holders exposure to physical commodity trade financing through a claim on a revolving portfolio of mainly trade-finance bonds. unverified
RWA.xyz describes the portfolio as mainly Swiss-law trade-finance bonds but gives no bond weights, residual categories, or disclosure date. unverified
RWA.xyz states that a separate segregated portfolio company in the Cayman Islands issues the investment-grade bonds. unverified
oTFY holders claim portfolio NAV, while the portfolio holds trade-finance bonds, which makes their exposure to commodity trades indirect. unverified
TradeFlow states that its model takes legal title to goods instead of lending, while oTFY holders claim the revolving portfolio's NAV. unverified
Financed commodity trades provide the economic yield, and TradeFlow links returns to goods ownership rather than direct lending. verified
TradeFlow Capital Management manages oTFY's underlying assets, but the sources do not name it as the Cayman bond issuer. unverified
RWA.xyz labels the issuer "Verified SV," while its Cayman company description gives no legal entity name for a match. unverified
RWA.xyz calls the Cayman-issued bonds investment grade but gives no issue-level ratings, maturities, duration, or issuer concentration. unverified
The oTFY sources describe commodity-trade financing and mainly trade-finance bonds without naming any holding, commodity, trader, borrower, geography, or weight. unverified
Obligate separately states that TradeFlow issued senior bond eNotes backed by liquid commodities but does not identify them as oTFY. unverified
oTFY accumulates income from commodity-trade financing, but the sources do not quantify gross return or spreads retained by the involved entities. unverified
| Metric | Value |
|---|---|
| Terminal underlying | Physical commodities |
| Portfolio structure | Revolving |
| Bond credit quality | Investment grade |
RWA.xyz names Obligate as both the oTFY offeror and the platform used for the product. unverified
The corporate website identifies Obligate AG as the Swiss company behind the Obligate brand. verified
Obligate AG states that it is a VQF member and a financial intermediary under the Swiss Anti-Money Laundering Act. unverified
Obligate says it provides infrastructure for issuance, distribution, trading, and lifecycle management of debt instruments issued on blockchain networks. verified
The platform lets companies issue on-chain bonds and commercial paper to obtain financing from investors. unverified
Obligate does not lend funds; it facilitates lending through its platform. verified
Obligate identifies oTFY as its flagship trade-finance product within its broader debt-infrastructure business. verified
Obligate announced oTFY's Solana launch on June 30, 2026, and reported its Kamino integration on July 30, 2026. verified
Before oTFY, OpenTrade launched a private-credit vault backed by an Obligate offering. unverified
XBTO structured and distributed a Bermudair bond issuance using Obligate's infrastructure and served as the transaction's distribution partner. verified
Obligate announced in April 2026 that it would integrate Particula risk ratings into its issuance and distribution infrastructure. unverified
Obligate identified Matthias Wyss as Chief Strategy Officer in February 2024 and as CEO in February 2025 and April 2026. verified
Tobias Wohlfarth served as Obligate's Chief Business Officer when the company announced a separate private-credit issuance in July 2026. unverified
| Metric | Value |
|---|---|
| Issuer brand | Obligate |
| Legal entity | Obligate AG |
| Jurisdiction | Switzerland |
| Swiss registry UID | CHE-379.891.298 |
| Launch date | 2026-06-30 |
| Chief executive | Matthias Wyss |
| Auditor | Deloitte |
Dispute: Identity of oTFY's legal issuer
— RWA.xyz identifies the issuer as Verified SV and gives LEI 98450067DE8910C77757.
— Obligate's corporate website identifies the issuing entity as Obligate AG and gives Swiss registry UID CHE-379.891.298.
Obligate describes oTFY as a Swiss ledger-based security and classifies its eNotes and eTrackers under the Swiss Code of Obligations. unverified
RWA.xyz reports that a Luxembourg securitization vehicle issues oTFY pursuant to the Luxembourg Securitisation Law and the Swiss DLT Act. disputed
RWA.xyz lists Luxembourg as the issuer domicile, the Swiss DLT Act and FINMA as the regulatory framework, and Switzerland as the dispute forum. disputed
RWA.xyz names a Luxembourg vehicle and bankruptcy-remote segregation but states no asset controller, creditor ranking, or insolvency claim treatment. unverified
Obligate identifies VQF as an anti-money-laundering organization, so this status describes supervision rather than a guarantee of holder repayment. unverified
Obligate lists whitelist-only transfers as an optional issuance setting, but the cited source does not state that oTFY uses this setting. unverified
Obligate states that its eNote protocol flags a missed scheduled payment immediately and defines a late coupon or principal payment as default. unverified
That process lets each eNote investor enforce directly against the issuer, while larger creditors often coordinate negotiations. verified
Obligate states that its eNote Registration Agreement binds the issuer, first taker, and later holders and sends eNote disputes to Swiss arbitration. unverified
A claimant starts arbitration by sending an electronic notice to the Swiss Arbitration Centre, and the issuer must answer. unverified
Obligate states that the arbitration terms require one arbitrator and an expedited process based on documents. unverified
The New York Convention lets a successful claimant enforce the award through relevant local courts or public authorities. verified
Obligate's enforcement guide covers eNotes, while its oTFY announcement does not connect oTFY to that default process or arbitration agreement. unverified
Obligate lets each eNote investor enforce individually, but RWA.xyz's bankruptcy-remote label supplies no recovery priority or payment waterfall. unverified
| Metric | Value |
|---|---|
| Instrument form | Swiss ledger-based security |
| Legal vehicle | Luxembourg securitization vehicle |
| Vehicle domicile | Luxembourg |
| Regulatory regime | Luxembourg Securitisation Law; Swiss DLT Act |
| Bankruptcy remote | true |
| Dispute forum | Switzerland |
Dispute: RWA.xyz reports that a Luxembourg securitization vehicle issues oTFY.
— RWA.xyz: a Luxembourg securitization vehicle issues oTFY.
— Obligate: Obligate AG, a Swiss company, is the issuing entity.
Dispute: RWA.xyz lists Luxembourg as the issuer domicile for oTFY.
— RWA.xyz: issuer domicile is Luxembourg.
— Obligate: Obligate AG is a Swiss company registered at the Commercial Registry of Zurich, UID CHE-379.891.298.
Obligate names TradeFlow Capital Management as oTFY's underlying asset manager, not as its custodian, and states no custody authority. unverified
Obligate's general borrower guide says escrowed investor funds move to the borrower's wallet on issuance as eNotes move to investors. unverified
The general escrow evidence does not name the provider, jurisdiction, account owner, authorized controllers, or connection to oTFY. verified
Obligate says its clients can use Archax's UK-regulated digital asset custody services, but the partnership does not identify Archax as oTFY's custodian. unverified
RWA.xyz identifies Deloitte as oTFY's auditor, but the cited profile provides no audit report, scope, period, opinion, or completion date. unverified
The cited oTFY profile names Deloitte and bankruptcy-remote segregation but gives no reserve attestation provider, publication location, frequency, or latest date. verified
The cited oTFY custody disclosures provide no current asset register, serialized bar list, publication date, or independent token-supply reconciliation. unverified
Obligate says Chainlink brings oTFY NAV data onchain, but it does not say Chainlink verifies backing or custody. unverified
Obligate names TradeFlow as asset manager but does not name which people or firms can move backing, or what approvals and controls govern movement. unverified
The cited disclosures name Deloitte as auditor and Chainlink as NAV-data provider, but neither identifies a custody-control validator or backing-to-supply reconciler. unverified
Obligate links oTFY to physical commodity finance but identifies no vault, storage jurisdiction, inspection process, or custody chain for the financed assets. unverified
| Metric | Value |
|---|---|
| Underlying asset manager | TradeFlow Capital Management |
| Account segregation | Bankruptcy remote |
| Auditor | Deloitte |
| General subscription custody | Temporary escrow |
The oTFY management fee is 1.00%; RWA.xyz does not name the charging entity or calculation basis. unverified
The oTFY performance fee is 10.00%; RWA.xyz does not name the charging entity, benchmark, or calculation method. unverified
The oTFY subscription fee is 0%, so no entity charges investors an upfront subscription or entry fee. unverified
The oTFY redemption fee is 0%, so no entity charges the holder this fee. unverified
| Metric | Value |
|---|---|
| oTFY management fee | 1.00% — entity not disclosed |
| oTFY performance fee | 10.00% — entity not disclosed |
| oTFY subscription fee | 0% — no charging entity |
| oTFY redemption fee | 0% — no charging entity |
| General investor first-year minimum | 50 USDC/EUROe — Obligate |
| Failed book-building fee | 0 — Obligate |
| Fee | Rate | Charging entity | Basis or condition |
|---|---|---|---|
| Management | 1.00% | Not named by RWA.xyz | Calculation basis and frequency not stated |
| Performance | 10.00% | Not named by RWA.xyz | Benchmark, trigger, and calculation method not stated |
| Subscription or entry | 0% | No charge | Applies upfront during subscription |
| Redemption | 0% | No charge | Applies to redemption |
| Total issuance amount | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Charging entity | Basis |
|---|---|---|---|---|---|---|---|
| 0–25 million | 50.0 b.p. | 45.0 b.p. | 40.5 b.p. | 36.5 b.p. | 32.8 b.p. | Obligate | Annualized total issuance volume |
| 25–50 million | 40.0 b.p. | 36.0 b.p. | 32.4 b.p. | 29.2 b.p. | 26.2 b.p. | Obligate | Annualized total issuance volume |
| 50–75 million | 30.0 b.p. | 27.0 b.p. | 24.3 b.p. | 21.9 b.p. | 19.7 b.p. | Obligate | Annualized total issuance volume |
| 75–100 million | 20.0 b.p. | 18.0 b.p. | 16.2 b.p. | 14.6 b.p. | 13.1 b.p. | Obligate | Annualized total issuance volume |
| 100+ million | 10.0 b.p. | 9.0 b.p. | 8.1 b.p. | 7.3 b.p. | 6.6 b.p. | Obligate | Annualized total issuance volume |
An investor starts the disclosed direct redemption process by submitting a written redemption notice. unverified
A holder can request direct redemption of any portion of the holding during a weekly redemption cycle. unverified
The issuer processes a minimum redemption amount of 0 USDC, so the terms impose no positive minimum. verified
The holder must submit the notice at least seven calendar days before the weekly redemption valuation date. unverified
The vault targets normal weekly redemption capacity of at least one-twelfth of net asset value. unverified
The vault scales back stressed weekly payouts when requests exceed available cash or realisable assets. unverified
The vault reduces each holder's payout pro rata when total weekly requests exceed available cash or realisable assets. unverified
The holder must submit a new notice for each unpaid amount and wait for a later weekly cycle. unverified
The documented direct redemption path ends with cash proceeds in the investor's wallet and gives no physical-commodity delivery step. unverified
Obligate describes oTFY as tradable onchain, but the direct redemption terms do not define a secondary-market sale process. unverified
| Metric | Value |
|---|---|
| Redemption frequency | Weekly |
| Minimum direct redemption | 0USDC |
| Redemption notice | 7calendar days |
| Settlement after valuation | 2business days |
| Normal weekly capacity target | At least 1/12 NAV |
Borrowers that finance commodity trades can miss maturity payments, reducing portfolio cash and exposing oTFY holders to principal loss. unverified
Obligate flags a missed eNote payment as an immediate default, but oTFY's Swiss-security disclosure does not state that this rule governs oTFY. unverified
For eNotes, the immediate default flag records nonpayment, but the cited rule states no repayment amount, recovery process, or holder priority. unverified
TradeFlow is oTFY's named asset manager, so its failure can interrupt portfolio management and complicate recovery from the managed assets. unverified
Smart-contract vulnerabilities or blockchain failures can disrupt token operations and expose assets to loss; onchain-enforceability questions can obstruct holder recovery. unverified
Private-key loss can block self-custodied access, and unauthorized access can transfer assets; each investor must safeguard keys against both failures. unverified
Chainlink supplies oTFY's onchain NAV data; false, stale, or unavailable values can misstate collateral values for holders using Kamino. unverified
RockawayX manages Kamino risk parameters, while Chainlink supplies NAV data; neither source states that RockawayX validates that data or prevents liquidation. verified
Kamino lets holders leverage oTFY by borrowing against it, so a value decline can increase the holder's total loss. unverified
When redemption requests exceed cash or realisable assets, the vault reduces payouts pro rata, so holders receive only part of requested cash. unverified
The vault requires holders to resubmit each unpaid redemption amount for a later week, so those holders must wait through another notice cycle. unverified
The vault targets at least one-twelfth of NAV weekly in normal conditions, while excess requests can move into later notice cycles. unverified
The redemption rules can delay direct exits, but the cited sources do not establish that such delays push oTFY below NAV. unverified
oTFY uses a Swiss ledger-based security form, but Obligate identifies onchain legal enforceability as a separate tokenization risk. unverified
Solana Explorer lists A1dZeiEE1oTf9FZEZn8sBdsmk6CQHphnHJ5HhYxYV2qm as oTFY's mint authority, but the corpus does not prove that this account is externally owned. unverified
The explorer labels the address as mint authority, but the corpus does not verify that it can increase supply without a holder vote. unverified
Solana Explorer displays A1dZeiEE1oTf9FZEZn8sBdsmk6CQHphnHJ5HhYxYV2qm in both authority fields, but no deterministic chain read confirms the current freeze authority. unverified
This concentration means that one authority failure or compromise can affect both token issuance and holder access. unverified
The explorer excerpt shows one address in both authority fields, but it gives no multisig program, threshold, member count, or timelock. unverified
Obligate says DFNS provides multi-approver quorums for its issuance infrastructure, but it does not link DFNS to oTFY's displayed authority. unverified
Obligate says Chainlink brings oTFY NAV data onchain, but its statement covers no authority security, backing attestation, or freeze-event monitoring. unverified
| Metric | Value |
|---|---|
| Mint authority | A1dZeiEE1oTf9FZEZn8sBdsmk6CQHphnHJ5HhYxYV2qm |
| Freeze authority | A1dZeiEE1oTf9FZEZn8sBdsmk6CQHphnHJ5HhYxYV2qm |
| Authority concentration | Same address |
| Onchain monitoring scope | NAV data |
RWA.xyz lists non-U.S. accredited investors as the eligible class for subscription to the oTFY eTracker. unverified
RWA.xyz states oTFY subscription eligibility as non-U.S. accredited investors; its listing names no other excluded jurisdiction. unverified
Investors must complete the issuer's KYC and AML procedures to establish eligible-investor status before subscribing to the oTFY eTracker. verified
Obligate requires investors to provide information and documents for its KYC and KYB processes. unverified
Obligate states that investor onboarding usually takes one to three business days after the applicant completes KYC and AML checks. verified
Approved investors can begin investing immediately, but this timing statement covers the Obligate platform generally rather than only oTFY. unverified
RWA.xyz reports a 100,000 USDC minimum investment for oTFY without separating initial subscriptions from later subscriptions. verified
Obligate states that its yield products serve institutional investors, qualified investors, and professional clients seeking regulated private-credit exposure. unverified
The oTFY listing specifies non-U.S. accredited investors, a narrower stated class than Obligate's general yield-product audience. unverified
Obligate states that oTFY holders may use their trade-finance exposure as Kamino collateral and describes oTFY as a tradable onchain instrument. unverified
The cited subscription rule defines eligibility before subscription but gives no separate investor-class test for a holder's direct redemption. unverified
Obligate officially supports its platform on desktop systems through Chromium-based browsers such as Chrome, Edge, and Brave. unverified
| Metric | Value |
|---|---|
| Direct subscription eligibility | Non-U.S. accredited investor |
| Excluded direct jurisdiction | United States |
| Minimum investment | 100000USDC |
| Typical investor onboarding | 1–3 business days |
| Required eligibility checks | KYC; AML |
| Investor verification records | KYC; KYB information and documents |
Obligate's oTFY announcement identifies oTFY as a Swiss ledger-based security but does not provide its governing instrument. unverified
Obligate's official documentation links to a general eNote legal framework, the closest legal-framework source in the supplied corpus. unverified
Obligate's investor documentation covers the eNote Protocol and an eNote legal framework but does not identify oTFY. unverified
Obligate identifies its products page as version 1.0.0, published in January 2026, but not as oTFY final terms. unverified
Obligate's documentation index links to protocol, risk, compatibility, and glossary materials for general platform review. unverified
Solana Explorer provides the original chain record for the stated address, but the cited record does not establish legal terms. unverified
| Rank | Document | Type | Date | Original-source URL | Status for oTFY |
|---|---|---|---|---|---|
| 1 | Obligate eNote legal framework | Terms | Not stated | https://docs.obligate.com/legal/enote-legal-framework | General framework; not proven to govern oTFY |
| 2 | Obligate investor documentation | Terms | Not stated | https://docs.obligate.com/obligate-for-investors | General eNote protocol and legal material |
| 3 | Obligate oTFY and Kamino announcement | Fact-sheet | Not stated | https://obligate.medium.com/obligates-flagship-rwa-product-otfy-goes-live-on-kamino-powered-by-chainlink-unlocking-onchain-978d6b7036fa | Primary product statement; not final terms |
| 4 | Obligate products page, version 1.0.0 | Fact-sheet | January 2026 | https://www.obligate.com/products | General product material; not final terms |
Solana Explorer shows Obligate Trade Finance Yield on Mainnet Beta at mint address BwB3tNH92jKw6naNGDYDbDwRo8bvYxZVvZjRZRcoWR2h. unverified
RWA.xyz labels the Solana oTFY deployment as Native and SPL, rather than listing it as a bridged token. unverified
Obligate calls its general infrastructure multi-chain, while its cited oTFY deployment announcement identifies Solana only. unverified
Solana Explorer lists 9 decimals for mint BwB3tNH92jKw6naNGDYDbDwRo8bvYxZVvZjRZRcoWR2h, which defines how readers scale raw token amounts. unverified
RWA.xyz identifies oTFY as an SPL token, but its cited profile gives no exact Solana token-program address. unverified
Obligate states that Chainlink brings oTFY NAV data onchain, so users of that data depend on the Chainlink path. unverified
The cited Obligate disclosure gives no Chainlink feed address, oracle account, publisher set, update rule, or freshness limit. verified
Obligate states that Kamino accepts oTFY as collateral, so this market integration is separate from the token mint. unverified
Obligate states that RockawayX curates the oTFY Kamino market and manages its risk parameters, but gives no exact market or program address. unverified
| Metric | Value |
|---|---|
| Verified chain | Solana Mainnet Beta |
| Solana mint address | BwB3tNH92jKw6naNGDYDbDwRo8bvYxZVvZjRZRcoWR2h |
| Deployment form | Native |
| Token standard | SPL |
| Token decimals | 9 |
| NAV data provider | Chainlink |
| Collateral market | Kamino |
| Market risk curator | RockawayX |
| Component | Deployment or dependency | Exact address available |
|---|---|---|
| Asset token | Solana Mainnet Beta native SPL mint BwB3tNH92jKw6naNGDYDbDwRo8bvYxZVvZjRZRcoWR2h | Yes |
| Token program | SPL token standard | No program address in the cited record |
| Bridge | RWA.xyz classifies the Solana token as native | No bridge identified |
| NAV data | Chainlink | No feed or oracle account identified |
| Collateral market | Kamino; risk parameters managed by RockawayX | No market or program address identified |
Solana Explorer identifies mint BwB3tNH92jKw6naNGDYDbDwRo8bvYxZVvZjRZRcoWR2h as Obligate Trade Finance Yield on Solana Mainnet Beta. unverified
RWA.xyz classifies the Solana oTFY deployment as a native, distributed SPL token. unverified
The token-specific records verify a Solana deployment, while the multi-chain statement describes Obligate's general infrastructure rather than oTFY. verified
Solana Explorer reports nine decimals for the oTFY mint. unverified
RWA.xyz classifies the Solana token as native, but the corpus does not verify any bridge contract, signer set, or custody path. unverified
Obligate states that Chainlink infrastructure brings key oTFY net asset value data onchain. unverified
Obligate states that holders can use oTFY as Kamino collateral and that Chainlink brings the token's net asset value data onchain. unverified
RockawayX curates the Kamino market for oTFY and manages its risk parameters on an ongoing basis. verified
The cited Obligate announcement names Chainlink infrastructure but gives no feed address, oracle account, publisher set, update rule, or freshness limit. unverified
| Metric | Value |
|---|---|
| Chains deployed | Solana Mainnet Beta |
| Canonical mint | BwB3tNH92jKw6naNGDYDbDwRo8bvYxZVvZjRZRcoWR2h |
| Deployment form | Native |
| Token standard | SPL |
| Bridge provider | None identified |
| Oracle dependency | Chainlink NAV data |
| Layer | Verified path | Reader verification |
|---|---|---|
| Canonical token | Solana Mainnet Beta → native SPL mint BwB3tNH92jKw6naNGDYDbDwRo8bvYxZVvZjRZRcoWR2h | Match the network, mint address, token name, and nine-decimal precision |
| Bridge | No bridge path identified for the verified native Solana deployment | Do not substitute a wrapped or bridged token for the canonical mint |
| NAV oracle | Chainlink → onchain oTFY NAV data | Obtain the feed address, update rule, publisher controls, and freshness limit |
| Collateral market | oTFY → Kamino market → RockawayX risk parameters | Verify the market address, accepted oracle, collateral settings, and current risk controls |
Obligate AG serves as oTFY's product sponsor and gives its address as Mühlebachstrasse 162, 8008 Zurich, Switzerland. unverified
Obligate states on its oTFY product page that it belongs to the Tokenized Asset Coalition. unverified
TradeFlow says it has worked in trade digitalisation since 2016, which supplies operating history but no oTFY performance evidence. unverified
Obligate reports that TradeFlow's investment strategies achieved investment-grade ratings since 2021, rather than naming an oTFY-specific rating. unverified
Obligate's glossary defines an eNote as an unconditional promise to pay a specific sum to another party on a specific future date. unverified
Obligate's glossary says its platform supports fixed coupons from monthly to annually and a single payment at maturity. unverified
Obligate's glossary says its platform supports the actual/360 and actual/actual day-count conventions. unverified
Obligate's glossary says Polygon eNotes use ERC20 tokens, while Obligate separately states that oTFY operates on Solana. unverified
Obligate's general investor guide describes scheduled redemption tokens, while its oTFY page separately describes direct issuer redemption at net asset value. disputed
Obligate's general investor guide lets an issuer partly execute or cancel an undersubscribed issuance, but this rule does not name oTFY. unverified
Obligate does not operate an eNote secondary market, while third-party DeFi protocols trade oTFY at market prices subject to liquidity. verified
Obligate states that its oTFY website supplies information only and makes no offer or solicitation where local law prohibits one. unverified
SEC Commissioner Hester Peirce states that tokenized securities remain securities and applicable federal securities laws still govern onchain activity. unverified
Peirce states that the specific facts and circumstances determine whether federal securities laws govern a vault or lending strategy. unverified
Peirce states that lending-strategy managers who set rates, supported assets, loan limits, or liquidation thresholds may require federal securities-law analysis. unverified
Peirce states that securities-holding vaults can raise investment-company issues and that strategy management can raise investment-adviser issues. unverified
Dispute: Published oTFY liquidity interval
— Obligate's general products page lists oTFY with 60-day liquidity.
— Obligate's oTFY announcement and current product listing describe weekly liquidity.
Dispute: Obligate's general investor guide describes scheduled redemption tokens that let holders claim repaid amounts from escrow.
— General investor guide: scheduled payment-redemption tokens claimed against escrow.
— oTFY product page: direct subscription and redemption with the issuer at NAV.
Dispute: Obligate's oTFY product page describes direct issuer redemption at net asset value.
— General investor guide: scheduled payment-redemption tokens claimed against escrow.
— oTFY product page: direct subscription and redemption with the issuer at NAV.