> ## Documentation Index
> Fetch the complete documentation index at: https://docs.stratareserve.co/llms.txt
> Use this file to discover all available pages before exploring further.

# Actors & Roles

> Strata is a multi-actor financial coordination system with role-scoped truth and deterministic permissions.

Strata is fundamentally a **multi-actor financial coordination system**.
Traditional infrastructure fragments issuers, investors, lenders, operators,
transfer agents, and service providers across disconnected systems. Strata
instead coordinates all actors through **role-scoped truth** and **deterministic
permissions** — every participant sees and can act on exactly the surface their
role grants.

## The canonical actors

<CardGroup cols={2}>
  <Card title="Operator" icon="building-shield">
    The institutional coordination backbone. Operators run lifecycle, compliance,
    funding, issuance, audit, and execution workflows across deals.
  </Card>

  <Card title="Manager" icon="briefcase">
    Deal builders and sponsors. Managers configure deals, submit assets, manage
    diligence, coordinate treasury, and prepare offerings for launch. Includes
    deal managers, sponsors, issuers, and commodity operators.
  </Card>

  <Card title="Investor" icon="user-tie">
    Participants who review offerings, complete KYC / accreditation, subscribe,
    e-sign, fund, and hold positions.
  </Card>

  <Card title="Treasury & Compliance" icon="scale-balanced">
    Actors who coordinate settlement, treasury operations, and the compliance
    controls that gate each lifecycle transition.
  </Card>
</CardGroup>

## Role-scoped capabilities

Permissions in Strata are **capability-based**. An actor's session carries a set
of capabilities derived from their relationships to deals and assets, and every
surface and action is gated against those capabilities. A manager who is not
scoped to a deal does not see it; an investor without a portal capability cannot
reach the portal.

<AccordionGroup>
  <Accordion title="Operators" icon="building-shield">
    Coordinate the institutional backbone: lifecycle transitions, compliance
    oversight, funding and issuance execution, and audit. They have the broadest
    operational authority but operate under policy controls.
  </Accordion>

  <Accordion title="Managers" icon="briefcase">
    Coordinate deal construction and investor onboarding for the deals they are
    scoped to: asset submission, deal configuration, treasury setup, and
    investor coordination.
  </Accordion>

  <Accordion title="Investors" icon="user-tie">
    Coordinate their own participation: identity, accreditation, subscription,
    signature, funding, and position management.
  </Accordion>
</AccordionGroup>

<Info>
  **Deterministic permissions:** authority is re-derived from an actor's current
  relationships at request time — not snapshotted at login — so revoking a
  relationship immediately removes the corresponding capability.
</Info>

<Card title="See it in motion: Deal Lifecycle" icon="timeline" href="/concepts/deal-lifecycle">
  How these actors drive a deal from Draft through Active.
</Card>