What would be needed on chain — and exists
pallet-emp-rwa: the instrument, with partitions.pallet-compliance+pallet-identity-ssi+pallet-sanctions: holder eligibility and screening on every transfer.pallet-tokenized-fund: a basket or ETF-like wrapper with NAV accounting.pallet-oracle: reference prices.- DUSD: settlement unit.
pallet-nft-royaltiesis irrelevant; equities have no royalties. Dividends would bepallet-subscriptiondistributions.
All in runtime 220.
What would be needed off chain — and does not exist
A licensed broker-dealer or issuer holding the underlying shares; a custodian; a legal wrapper giving the token a claim on the share; transfer-agent duties; market-abuse surveillance; jurisdictional registration; audits. None of this exists in the ecosystem. The foundation's legal entity is itself an unchecked mainnet-gate item.
Why the claim stays small
The page this replaces described tokenized U.S. equities available on another chain through a licensed issuer. Copying it with the name changed would put this ecosystem's name on a regulated financial product it does not offer, on a website that runs a token sale. The September 2026 audit removed exactly such claims — audits by named firms, coverage by named outlets, partnerships with named institutions — and this page is written under the rule that replaced them.
What the ecosystem can say
That its runtime enforces holder eligibility on regulated assets as a property of the asset; that the enforcement was designed for exactly this class of instrument; that the identity layer feeding it registered its first DID on 14 September 2026; and that a pilot with test assets on the testnet is possible today for a party that brings the off-chain half.
For an institution evaluating
Read the exchange-integration guide (finality, account model, 18 decimals), the compliance post (the transfer check), and the mainnet gate (what is not done). Then decide whether to run a pilot on a testnet with two validators, knowing that is what it is.
Based on EIP_COVERAGE.md, PALLET_REFERENCE.md, MAINNET_GATE.md Gate 5 and the September 2026 site audit.