How It Works

From mandate to secondary trade, on one set of rails.

Every T3RRA issuance runs through the same seven-stage flow. At each stage, a specific protocol surface does the work — and leaves a verifiable trace.

Open the demos Start a mandate

For Commercial Readers

This page explains the protocol mechanics that sit beneath every T3RRA engagement. For the business-level view — what a mandate covers, what it costs, what it delivers — see For Asset Owners, For Banks & Institutions, or For Investors.

The Flow

Seven stages. Four surfaces. One policy.

Mandate

Deal Desk

What happens

Asset owner engages T3RRA. Scope, jurisdictions, and target raise are fixed.

What the issuer sees

A signed mandate agreement and a named desk lead.

What the investor sees

Nothing yet — the deal isn't public.

Protocol Surfaces

Four surfaces do the work.

Each one is documented, versioned, and touchable.

L3RS-1 — the asset standard.

L3RS-1 v1.0.0 Profile F — the foundation-governed open standard stewarded by the L3RS Foundation. Versioned token standard with a total ComplianceModule. Rules are enforced by the token, not a wrapper around it.

Open the builder

PG[Σ] — policy-gated signing.

Threshold signing scheme where the PolicyHash is bound into the Fiat–Shamir transcript. A transfer is valid only if the policy the signer committed to is the policy that gets enforced.

Run a transfer

Flow — cross-chain routing.

Route admissibility predicate J ∧ T ∧ ID ∧ X plus a (5,9) bridge committee certificate. Replaces ad-hoc lock-and-mint with something capital markets can underwrite.

Route a trade

Agent Mesh — six-class operational layer.

Six agent classes (Onboarding, Tokenization, Marketplace, Trade, Liquidity, Treasury/Compliance) proposing corporate actions inside the PG[Σ] envelope. Policy still decides.

Run a corporate action

Worked Example

A transfer, traced.

Here's one real operation: an investor sells a $2M position in a commercial real estate tranche to a buyer on a different chain. Seven steps, four surfaces, one policy.

1
Buyer sends a transfer request.Flow
Source chain: Ethereum. Destination: Polygon. Amount: 2,000,000 units.
2
Flow evaluates J ∧ T ∧ ID ∧ X.Flow
Jurisdiction (buyer and seller both in eligible jurisdictions), Time (outside the lockup window), Identity (both KYC-verified under the issuance's investor class), eXception (no sanctions hit, no issuer block). All four predicates return true.
3
Flow constructs a route.Flow
A single cross-chain leg with a (5,9) bridge committee certificate. The route certificate carries the PolicyHash.
4
Destination chain re-runs the ComplianceModule.L3RS-1
Same PolicyHash. Same answer. The rule travels with the asset.
5
PG[Σ] co-signs.PG[Σ]
The signing ceremony binds the PolicyHash into the Fiat–Shamir transcript. If a different policy had been substituted, the signature wouldn't verify.
6
Settlement executes atomically.Flow + L3RS-1
Seller's position is burned on Ethereum, buyer's position is minted on Polygon. The cap table updates on both chains in a single verifiable step.
7
Agent Mesh records the event.Agent Mesh
The Trade and Treasury/Compliance agents emit the reporting artifact — FATF Travel Rule fields are already present because they were enforced at step 2.

Illustrative — production behavior is governed by Cryptographic Spec v1.0 rev B §4 (PG[Σ]) and Flow v1.1 §3 (route admissibility).

Responsibilities

Who does what.

Stage	T3RRA	Issuer	Investor
Mandate	Structures the engagement	Signs mandate	—
Structuring	Runs the deal desk	Provides asset, signs docs	—
L3RS-1 config	Compiles ComplianceModule	Reviews & approves policy	—
Issuance	Runs the mint under PG[Σ]	Authorizes issuance	Subscribes
Primary settlement	Verifies eligibility, settles	Watches primary book	Funds, receives tokens
Secondary transfer	Operates Flow & policy gates	Observes cap table	Transfers across chains
Servicing	Runs Agent Mesh under PG[Σ]	Approves exceptions	Receives distributions

AI Architecture

Where the AI sits.

T3RRA runs a six-class Agent Mesh — Onboarding, Tokenization, Marketplace, Trade, Liquidity, and Treasury/Compliance. Inside each class, 14 named AI capabilities (documented in Flow §15) handle the operational work: drafting, reconciliation, reporting, anomaly detection, routing proposals.

Every agent sits inside the PG[Σ] envelope, not outside it. Agents propose. Policy disposes. A ComplianceModule refusal is a refusal — the mesh cannot route around it, and exceptions always surface a human in the loop. This is the opposite of "AI trading bots": the cryptography is the constraint, and the agents operate within it.

Agents propose. Policy disposes.

Fourteen AI capabilities

Every one published, ablation-tested, and caged inside the PG[Σ] envelope.

#	Name	Class	Role
1	Residual GBM route scorer	Gradient boost	Scores candidate routes against PHI residuals
2	Learned re-ranker	Pairwise LTR	Real-time re-ranking under venue conditions
3	LLM quote evaluator	Structured prompt	Reads RFQ quotes for hidden adverse terms
4	LSTM inventory forecaster	Sequence	Predicts depth and inventory across chains
5	Deep anomaly detector	Autoencoder	Flags route, venue, and quote anomalies
6	PolicyHash authoring assistant	Tool-using LLM	Drafts ComplianceModules from natural-language policy
7	Counterparty risk scorer	Tabular DL	Scores VASP and counterparty risk live
8	Settlement timing optimizer	RL	Times settlement to minimize bridge friction
9	Cross-chain liquidity forecaster	Sequence	Forecasts cross-chain depth on a 5–60 minute horizon
10	Order-flow toxicity classifier	Gradient boost	Flags toxic flow before it reaches the venue
11	Predicate explainer	LLM	Explains why a predicate failed in plain language
12	Policy diff summarizer	LLM	Summarizes ComplianceModule diffs between versions
13	Cross-chain bridge health monitor	Time-series DL	Monitors (5,9) committee liveness
14	Reproducibility harness orchestrator	Tool agent	Runs the public ablation harness end-to-end

Full documentation in Flow §15.

Enforcement Paths

Where architecture matters and where it doesn't.

T3RRA accelerates the on-chain half of enforcement. The underlying real-world asset — building, ship, loan book — lives in a legal system, and enforcement against it runs the same court process as any conventional instrument.

Layer

Conventional

Tokenized Wrapper

T3RRA

Operational Layer — This is where T3RRA changes the outcome

Covenant enforcement

Waterfall triggers, subordination cascades

Manual review

Days to weeks

Hybrid manual

Hours to days

Deterministic

Seconds

Distribution execution

Payments, dividends, coupons

TA processing

T+2 to T+5

Platform-bound

T+1 to T+2

On-chain waterfall

T+0

Policy enforcement

Transfer restrictions, sanctions, KYC

Vendor-dependent

Breaks at licence change

Platform-bound

Single venue

Protocol-level

Bound at mint

Legal Layer — Same for all three paths

Asset recovery

Court enforcement, physical seizure

Court process

Months to years

Court process

Months to years

Court process

Months to years

Three paths, one stress test.The top half — operational enforcement — is where T3RRA's architecture changes the outcome. The bottom half — legal recovery of the physical asset — runs the same course regardless. Every competitor collapses that distinction. T3RRA makes it explicit.

See it work, or put it to work.

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