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SEED MILESTONE GATES
Seed Milestone Gates
Asset-class-neutral liquidity and distribution rail for tokenized real-world assets.
The US$20M+ seed valuation should be earned by evidence, not narrative momentum.
Planned structure: BVI project base and SAFE with a 20% discount. Cayman Islands token structure and token warrant. UAE is the initial market for buyers and sellers. Detailed legal structuring is planned with counsel after pre-seed funding. No signed pilot or institutional contracts as of 23 September 2026. Forecasts and prototype records are illustrative.
Seed Readiness Is Operational Evidence
A future US$20M+ valuation is an aspiration, not a gate or assured outcome. Management must approve quantitative thresholds after the first measured cohort; missing thresholds are explicit open decisions, not achieved milestones.
| Gate | Evidence | Decision rule |
|---|---|---|
| Paid repeatability | Contracts, receipts, cohort usage, renewal and loss reasons | Do not scale acquisition before positive contribution and repeat use are evidenced |
| Supply and demand | Mandates, eligible buyer funnel and completed outcomes | No expansion based on listings or unqualified registrations alone |
| Unit economics | CAC, delivered cost, QA hours, retention and contribution | Approve target values after baseline; current values unverified |
| Partner continuity | Primary and backup by function, authority, scope and switching cost | A category list is not a contracted fallback |
| Cash discipline | Monthly downside, commitments and rolling runway | Review monthly; freeze optional spend if downside shows fewer than 9 months of funded deployment |
| Token / MM | Legal/security/wallet approval and counterparty scope | Gate month 0 holds budget in cash; no automatic calendar release |
| Financing readiness | IP, cap table, legal perimeter and documented revenue quality | Start investor process before reserve becomes the financing plan |
Stop and Reassess
A failed gate pauses the dependent feature or spend. Any reallocation requires founder/board approval and an updated cash plan. Do not silently use contingency for recurring overspend or assume a seed round will close at a chosen valuation.
English is the governing text. New amendments may remain in English in localized views. Updated 23 September 2026.