What lives where
On-chain
- srUSD issuance and redemption
- Liquidity, lending, and structured-product markets
- Collateral positions and programmable settlement
- Token instruments representing ownership where permitted
Off-chain
- Legal entity / SPV formation and governing documents
- Identity, KYC, and accreditation records
- Asset diligence, valuations, and servicing data
- Compliance decisions and audit trail
Why the boundary is drawn here
Legal enforceability stays off-chain
Legal enforceability stays off-chain
Ownership of a real-world asset is ultimately a legal claim. Strata anchors
that claim in real entities and documents, then represents it on-chain — it
does not pretend a token is the asset.
Settlement and liquidity go on-chain
Settlement and liquidity go on-chain
Programmable settlement, composable collateral, and transparent liquidity are
exactly what blockchains do well. srUSD and the market engines live here.
The two are reconciled deterministically
The two are reconciled deterministically
A canonical data model and state machine keep the off-chain record of truth
and the on-chain representation consistent, with an auditable lineage between
them.
The result: investors get on-chain transparency and liquidity without giving up
the legal enforceability and compliance that real-world assets require.
Ledger integrity & ownership lineage
How Strata preserves an auditable chain of ownership across the boundary.