Issuer Guide

This guide walks an issuer end-to-end, from “I’m thinking about tokenizing an asset” to “my offering is live, investors are subscribed, and I’m running my cap table”.

1. Becoming an issuer — KYB

You start with a normal account. To become an issuer, you go through Know Your Business verification (same SumSub provider as KYC, business flow).

Entity types supported: Individual (Person), Sole Proprietorship, Partnership, Corporation, LLC, Non-Profit, Government Entity, Trust, Joint Venture, Association, Cooperative, Publicly Traded Company, Private Company, Educational Institution, Foundation.

Documents you’ll be asked for (varies by entity type and jurisdiction): Certificate of incorporation / formation, Articles of association / operating agreement, Tax registration, Beneficial-owner ID and KYC for owners ≥ 25%, Director / officer ID, Bank reference letter, Source-of-funds declaration.

The flow:

1. Choose Become an issuer in your account menu.
2. Provide entity details, beneficial owners, supporting documents.
3. SumSub processes; results route to Libertum admin for final approval.
4. Approval typically takes 1–3 business days for clean submissions.

Once approved, your account upgrades to issuer role and the Issuer sidebar entries appear.

2. Choosing a subscription plan

Issuers must have an active subscription to publish offerings. See Plans, Modules & Pricing for the full table. Quick guide:

If you…	Pick this plan
Just want to test the waters with one or two listings	Pay Per Listing — $0/mo + $499 per offering
Run an active issuance pipeline (5 offerings/year)	Issuer Starter — $299/mo
Run a high-volume issuance practice with secondary market	Issuer Growth — $499/mo
Are an institutional player needing custom domain and dedicated support	Enterprise — $999/mo

A 7-day free trial is available at signup for paid plans.

Per-listing vs monthly tradeoff. If you list 6+ offerings per year, monthly is cheaper. Pay-per-listing is most useful for issuers with infrequent or bespoke deals.

3. The Tokenization Wizard

The wizard is asset-class-aware: the steps you see depend on the asset class you choose at the start.

Asset class	Steps	Step titles (summary)
Real Estate	4	Overview · Project Details · Documents · Team
Equity Digital Asset	10	Overview · Offering & Project Details · Tokenized Equity Details · Tokenization Structure · Financial & Legal Documentation · Distribution & Marketplace Listing · Dividend & Governance Settings · Risk & Compliance Disclosures · Technical Setup · Issuer Declaration
Debt Digital Asset	8	Issuer Information · Debt Instrument Details · Tokenization Structure · Financial & Legal Documents · Token Distribution & Offering Plan · Compliance & Registration · Technical Setup · Declarations
Invoice Factoring	9	Overview · Invoice Details · Tokenization Parameters · Underlying Asset Verification · Financial & Legal Details · Token Distribution & Marketplace Listing · Risk & Investor Disclosures · Technical Deployment · Issuer Declaration
Revenue Digitisation	9	Overview · Revenue Stream Details · Tokenization Structure · Underlying Agreements · Token Economics · Compliance · Token Economics · Technical · Issuer Declaration
Commodity Tokenization	10	Overview · Commodity Details · Tokenization Structure · Custody & Verification · Offering Details · Financial & Legal · Distribution Mechanics · Risk Management · Tokenomics · Issuer Declaration
Bonding Token	9	Overview · Offering & Project Details · Tokenization Structure · Financial · Legal · Risk · Token Economics · Documents · Team

Common wizard patterns

Step “Overview” — Offering name, token name, token symbol, decimals, asset location, offering cover image, company logo, brief description.

Step “Project / Offering Details” — Class-specific. For real estate: property type (Commercial / Residential / Office / Multifamily / Retail / Hotel / Industrial / Other), full address, valuation, occupancy. For equity: company structure, business model, key metrics. For debt: debt instrument type, seniority, security, covenants.

Step “Tokenization Structure” — Total supply, token price, min/max ticket, total raise target, allocation, vesting schedule.

Step “Documents” — Class-driven document checklist; some mandatory, others recommended. Real estate: e-signature mandatory; pitch deck, CIM, land registration, title docs, bank approval, encumbrance certificate, property tax receipt recommended. Equity: e-signature mandatory; pitch deck, articles of association, operating agreement, tax assignment letter recommended. Documents that require signature wire through DocuSign.

Step “Distribution & Marketplace Listing” — Issuance start/end dates, marketplace visibility, featured placement, investor invite list (bulk CSV upload).

Step “Dividend & Governance Settings” — Distribution frequency, mechanism, voting rights, quorum threshold, proposal cool-down.

Step “Risk & Compliance Disclosures” — Risk-factor checklist with one-paragraph descriptions.

Step “Technical Setup” — Chain choice, token standard, mint timing toggle, compliance modules, agents.

Step “Issuer Declaration” — Final attestation. Once submitted, the offering moves to PENDING_ADMIN_APPROVAL.

4. Token configuration deep dive

A few fields deserve focused attention because mistakes here are expensive (they require redeployment).

• Decimals. Almost always 18 for ERC-3643 and ERC-20.
• Total supply. Set to the maximum number of tokens you’ll ever issue. Enforced on-chain by the Supply Limit module.
• Token price. Quoted in USD; internally stored at stablecoin precision.
• Min / Max ticket. Min ticket is enforced at order creation. Max ticket should match your Max Balance compliance module.

5. Token standard choice

Standard	Use when
ERC-3643 (T-REX)	You’re issuing a security token — fractional real estate, equity, debt — and need on-chain compliance enforcement. Default for most security-token offerings.
ERC-20	You’re issuing a utility token, governance token, or a non-permissioned token. Lighter, cheaper, but no built-in identity / claim verification.
ERC-721	One-of-one or limited-edition tokenization.
CIP-113	Compliance-native tokenization on Cardano. Currently Preview testnet only — pending mainnet audit.
CIP-20	Fungible Cardano native token without programmable compliance. Live on Cardano Mainnet today.

6. Mint timing toggle

Available for ERC-20 and ERC-3643 only.

Setting	What happens	When to use
On-order (default)	Tokens are minted at the moment each investor’s primary order settles.	Primary fundraises — most common.
On-deploy	The full token supply is minted at offering deployment, all to a custodian wallet. As orders settle, tokens are transferred from custodian to investor.	When secondary-market liquidity matters from day one.

7. Compliance configuration

In Technical Setup, you compose the offering’s compliance ruleset by enabling and parameterising modules. Each module is an independently deployed contract; the Modular Compliance controller chains them together so every transfer must pass all enabled checks.

Module	What it does	Typical config
Country Allow	Only allows transfers to wallets whose verified identity has a country claim in the allow-list.	Whitelist your offering’s permitted jurisdictions.
Country Restrict	Blocks transfers to wallets in a specified blocklist.	Common: US (for non-US offerings without Reg D), sanctioned jurisdictions.
Supply Limit	Enforces a hard cap on total supply.	Set to your offering’s total raise target in tokens.
Max Balance	Prevents any single wallet from holding more than X tokens.	Per-investor maximums (e.g. accreditation caps).
Hold Time	Blocks transfer of tokens within N seconds of mint.	Common: 365 days for Reg D / Reg S secondary-trading restrictions.

Compose them freely: a US Reg D offering might enable Country Allow (US only), Max Balance (per-investor cap), and Hold Time (1 year); a Reg S offering excludes US via Country Restrict.

8. Agent assignment

An Agent is a wallet address that can perform privileged operations on the token contract — mint, burn, pause, freeze, force-transfer, recover. Default agent assignment delegates routine operations (mint at order settlement, dividend distribution) to the Libertum platform’s relayer wallet, while the issuer retains owner powers.

Functional roles: TENANT, RENT, STABLECOIN, YIELD, BUYBACK.

Owner vs Agent power. The Token Owner can do everything an agent can do, plus things agents can’t (change compliance modules, change identity registry, transfer ownership). Owner is typically a hardware-wallet or multi-sig held by the issuer; agents are operational wallets that automate day-to-day functions.

9. Wallet whitelist

After deployment, your offering needs a whitelist of approved investor wallets. Three ways:

1. Investor-initiated — Investor connects a wallet on the offering page; the platform submits a whitelist request to your TA.
2. Issuer manual entry — In the Issuer Dashboard → Wallet Whitelist, enter wallet address(es) and the linked investor’s identity record.
3. CSV bulk upload — Upload a CSV with wallet, email, country columns. Used for migrating existing investor lists.

10. Submitting for admin approval

Once your wizard is complete, click Submit for review. Your offering enters PENDING_ADMIN_APPROVAL.

What Libertum admins check: issuer KYB current and approved; mandatory documents present; token economics consistent; compliance config consistent with stated jurisdictions; no restricted-country whitelist conflicts; offering description doesn’t make claims that constitute investment advice.

SLA target: 2 business days for clean submissions.

After approval, the contract suite is deployed. The TREXFactory deploys all six core contracts (Token, Identity Registry, Identity Registry Storage, Trusted Issuers Registry, Claim Topics Registry, Modular Compliance) plus selected compliance modules in a single transaction.

11. The Issuer Dashboard

After deployment, your offering lives in Issuer → Dashboard. Tabs:

• Overview — KPI tiles: total raised, active investors, time-to-close, distribution-to-date, available supply.
• Cap Table — real-time table of holders with wallet, investor name, country, current holdings, cost basis, last transaction. Filters by country, holding range, recent activity. CSV export.
• Subscription Orders — all primary-market orders with status; click into any to see payment trail and on-chain references.
• Redemption Orders — buyback / redemption requests (if redemption is enabled).
• Dividends & Distributions — declare distributions; see past distributions with payout status per investor.
• Transfer Journal — chronological ledger of every transfer (immutable; mirrors on-chain events).
• Force Transfer Requests — TA-initiated requests awaiting issuer review (where dual control is required).
• Wallet Whitelist — bulk operations, CSV export, audit log.
• Documents — per-offering document vault, version-controlled.
• Settings — edit offering metadata, manage agent assignments, update bank accounts.

12. Declaring & distributing dividends

1. Issuer declares — In Dividends → Declare new distribution: amount, currency (USDC/USDT typically), allocation method, scheduled date.
2. Snapshot — The platform scans active offerings with declared distributions, computes pro-rata allocation across MINTED order holders, writes one record per investor.
3. On-chain push — On the scheduled date, the platform’s relayer (acting as STABLECOIN agent) transfers stablecoin to each investor wallet. Platform fee may be deducted.
4. Status update — Each successful row is marked distributed; investors get an email.

Failure handling. Individual transfer failures (e.g. blacklisted wallet) are logged and surfaced in the Issuer Dashboard. Issuer can manually retry, refund off-chain, or hold pending compliance resolution.

13. Force transfers, freeze, recovery

Three operations available to authorised agents:

• Freeze / Unfreeze — Full freeze (setAddressFrozen) prevents the wallet from sending or receiving. Partial freeze (freezePartialTokens) locks a specific quantity.
• Forced Transfer (forcedTransfer) — moves tokens between two wallets bypassing the sender’s frozen status, but still subject to receiver verification.
• Recovery (recoveryAddress) — atomic operation that transfers all tokens from a lost wallet to a new wallet and re-links the new wallet to the same identity. Requires identity attestation.

All three are TA-initiated by default; issuer’s policy can require dual control.

14. Document vault & investor communications

Documents in the issuer dashboard manages the per-offering document set. Versioned. Investor-visible documents are tagged; some require DocuSign signature.

Investor Communications lets you send announcements to all holders or a segment. Channel: email + in-app. Templates: corporate action, distribution announcement, governance proposal, general update.

15. Whitelabel Shopfront

A single-offering branded landing page. In Whitelabel → Shopfront:

1. Pick the offering you want to feature.
2. Configure branding: logo, primary colour, secondary colour, accent, hero image, custom CSS.
3. Configure copy: headline, subheadline, value props, FAQ.
4. Choose URL: your-tenant.libertum.market or your own domain (CNAME setup instructions provided).
5. Publish.

Investors who arrive see only that offering — no marketplace, no other listings, no Libertum branding.

16. Whitelabel Platform (full marketplace)

A full investor / issuer marketplace under your own brand. In Whitelabel → Platform:

1. Configure branding (logo, colours, fonts, custom CSS).
2. Choose a custom domain (e.g. invest.acmefund.com).
3. Choose marketplace mode: “your offerings only” or “your offerings + Libertum-shared offerings”.
4. (Optional) Configure tenant-specific KYC provider keys.
5. (Optional) Enable tenant admin role.
6. Publish.

17. Stripe Connect for fiat payouts

Connect your Stripe account through Stripe Connect. Per-payment, Libertum applies a configurable platform fee (in basis points) that’s deducted from your payout automatically — Stripe handles the split.

Default behaviour: Stripe takes its processing fee, Libertum takes its platform fee, issuer receives the net.

18. Custodian wallet management

Each issuer has one or more custodian wallets — platform-managed wallets that hold tokens (for on-deploy minting), receive subscription stablecoin, and execute distributions.

In Settings → Custodian Wallets: view all custodian wallets, see per-wallet token holdings, initiate a withdrawal (subject to platform-wide limits and admin approval thresholds). Audit trail logs every action.