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By BWB: Brazilian Real Estate Yields on Stellar
BWB Digital Assets is a regulated investment infrastructure and distribution platform operating in Brazil since 2023. It connects real estate issuers, qualified investors, and distribution partners through public and private offerings administration, investor eligibility, allocation controls, investment processing, and commission reconciliation.
BWB has completed six offerings totaling more than R$12 million with zero defaults. The platform supports 24 institutional issuers registered on the platform, more than 50 qualified investors, and eight active distribution offices. Its commercial pipeline includes more than 50 additional distribution partners, over 1,000 potential real-estate investment agents, and approximately R$80 million in prospective offerings.
This project establishes Stellar as BWB's primary network rail through Privy, Circle CCTP, and DeFindex, with Avenia providing the adjacent BRL/USDC and Base settlement connection. BWB's Convex backend will operate as the orchestration and control plane, applying compliance gates, preparing unsigned XDR transaction envelopes, indexing network state, and reconciling provider and ledger events. Stellar and Soroban will operate as the immutable execution layer for investor and developer wallets, regulated debt and equity positions, distribution, commissions, settlement, and segregated yield strategies.
### Why Stellar
Stellar provides the programmable infrastructure and Integration Track building blocks required for BWB's next product layer. The Cross-Chain Liquidity Engine will combine Avenia's BRL/USDC conversion and Base settlement with Circle CCTP's native-USDC transport between Base and Stellar. DeFindex will provide the Soroban yield engine for approved strategies. Real-estate and yield balances, disclosures, records, and performance will remain segregated.
Circle CCTP has been live on Stellar Mainnet since 19 May 2026. BWB therefore commits to delivering the bidirectional Base–Stellar CCTP route on mainnet in the final tranche rather than conditioning production activation on future protocol availability.
Technical references:
- Circle CCTP on Stellar: https://developers.circle.com/cctp/references/stellar
- CCTP Stellar contracts and interfaces: https://developers.circle.com/cctp/references/stellar-contracts
- Stellar announcement: https://stellar.org/blog/foundation-news/circle-cctp-is-live-on-stellar
- Avenia Settlement API: https://integration-guide.avenia.io/docs/Operations/
BWB currently provides:
- Private real-estate offering administration.
- Public real-estate offering administration.
- Investor onboarding, qualification, and eligibility management.
- Investment allocation and processing.
- Issuer, investor, distributor, and operations dashboards.
- Distribution management across offices and members.
- Referral attribution and commission reconciliation.
- Document and electronic-signature workflows.
- Investment, ownership, and income-distribution records.
### What This Project Adds
Privy will provide embedded key management and non-custodial Stellar accounts for investors and developers inside the BWB application. The Convex control plane will prepare unsigned XDR envelopes; users will authorize transactions through Privy. Sponsored base reserves, trustlines, and fee-bump envelopes will support a low-friction experience without BWB receiving or storing private keys.
Soroban contracts will represent eligible debt and equity positions, enforce offering eligibility and allocation limits, and control pauses, cooling-off periods, cancellations, and refunds. Personal information and KYC/KYB documents will remain off-chain. Contracts will emit auditable events for issuance, allocations, investments, cancellations, refunds, settlement, and tokenized-AUM reporting.
The contract design will separate the offering and position registry, eligibility/allocation policy, and lifecycle/refund controls so that privileged actions, authorization boundaries, and state transitions can be independently tested and monitored.
Stellar transactions and Soroban events will feed BWB's attribution and commission ledgers. Confirmed investments will be associated with the correct offering, distributor, office, and member through deterministic, versioned rules. Private referral links will preserve attribution without exposing investor identities on-chain.
BWB's provider-independent compliance interfaces will normalize investor and business verification states and control access to offerings and financial products. The settlement orchestration layer will coordinate BRL entry and exit status, authorization, and reconciliation without BWB receiving investor funds.
The integration will cover authenticated callbacks, idempotency, failed transactions, retries, refunds, and reconciliation between BRL operations and their final Stellar state.
Avenia will support BRL/USDC conversion and Base settlement, while Circle CCTP will provide native-USDC transport between Base and Stellar through user-authorized burn, attestation, mint, and forwarding flows. A durable transfer identifier and append-only reconciliation record will join each quote, Avenia ticket, Base transaction, CCTP message, Stellar transaction, and terminal wallet state without BWB taking custody of investor funds.
Capital arriving on Stellar can be allocated to regulated Soroban offerings or approved DeFindex strategies. Eligible redemptions, income, and withdrawn positions can follow the reverse route to Base and settle in BRL. The final tranche includes production delivery of both Base-to-Stellar and Stellar-to-Base CCTP routes using Circle's published mainnet contracts and mandatory CctpForwarder routing for Stellar recipients.
DeFindex will provide the vault and strategy integration layer. Eligible users will review strategy information, authorize deposits, monitor positions, and request withdrawals through BWB. An eligible operating partner will define and operate the applicable vault parameters.
A user will:
1. Access an embedded Stellar wallet through Privy.
2. Complete KYC/KYB through BWB's compliance interfaces and receive product eligibility from verified states.
3. Fund directly in BRL through an approved payment interface or move eligible capital through the Cross-Chain Liquidity Engine.
4. Invest in Soroban-controlled public or private offerings.
5. Access approved DeFindex yield strategies.
6. Authorize each transaction directly.
7. Track investments, income, yield positions, cross-chain transfers, and settlement status through BWB.
8. Return eligible USDC to Base through CCTP and, when requested, settle in BRL through Avenia.
Real-estate investments and DeFindex yield positions will maintain separate balances, disclosures, records, and performance reporting.
Developers and issuers will connect Stellar wallets to configure approved offerings, receive verified issuance and allocation records, and monitor tokenized AUM without accessing investor personal data on-chain.
### Reusable Infrastructure
The project will deliver reusable components for:
- Privy-powered Stellar wallets.
- Provider-independent compliance eligibility and BRL settlement states.
- Cross-Chain Liquidity Engine states spanning quote and intent, source settlement, CCTP transport, and terminal settlement.
- Durable transfer identifiers and append-only reconciliation records across Avenia, Base, CCTP, and Stellar.
- Soroban eligibility, allocation, and offering-lifecycle contracts.
- Stellar event indexing and reconciliation.
- Distribution attribution and commissions.
- DeFindex vault operations.
- Tokenized AUM and investor/developer wallet reporting from verified on-chain states.
- Operational monitoring and public evidence.
The baseline Stellar architecture, transaction flows, trust boundaries, and delivery mapping are available at https://bwb-stellar-architecture.pages.dev/.
### Go-To-Market Plan
- Global investors seeking exposure to Brazilian real-estate development.
- Brazilian investors building internationally diversified real-estate portfolios.
- Institutional investors seeking accessible opportunities tied to real-estate development performance.
- B2B2C: 16 partner investment firms, including real-estate brokerages and independent financial advisors, with a combined reach of more than 200,000 individuals. Brognoli alone reaches approximately 150,000 clients.
- B2C: More than 50 HNW and UHNW investors already onboarded and investing. This base has deployed R$10 million and has capacity for more than R$100 million without additional investors.
- B2B: BWB's first international investor is onboarding for a product targeting a US$3 million allocation across three rounds. BWB has mapped 32 additional multi-family offices with a similar profile.
- Real-estate pipeline: Approximately R$80 million in prospective offerings.
- Operational infrastructure: Live financial and operational stack with KYC/KYB/AML provider interfaces.
- Legal and governance: In-house legal expertise supported by Bastos, Wackerhagen, Berns & Advogados Associados, independent accounting and financial auditors, and an investor board.
- Developer network: More than 30 registered real-estate developers and 6 projects in the 2026 pipeline.
### Success Criteria
During the final 30-day production measurement window from 20 December 2026 through 18 January 2027, inclusive:
- At least US$4 million equivalent in active tokenized real-estate NAV/AUM is represented by the published Stellar offering contracts.
- At least 50 unique investor and developer wallet addresses meet the published connection/activity rule for the production contracts.
- At least 5 unique investor wallets acquire or hold positions in two distinct debt or equity offering assets through BWB.
These targets are incorporated into D8 and the required Tranche #3 Onchain Metric Information field and will be reported through public contract addresses, explorer links, a public dashboard, and reproducible calculation artifacts.
### Audit Budget Confirmation
No external security-audit expenditure is included in the US$150,000 SCF budget. D7 funds internal threat modeling, monitoring design, and operational validation and is not represented as an independent external audit. Any independent technical audit will use SCF-provided audit credits or separately funded resources and will not be charged to this grant.
$150.0K
BWB Digital Assets has operated its regulated real-estate investment platform since 2023. It has completed six offerings, raised more than R$12 million, and recorded zero defaults. Completed offerings include ARTP-HS at R$2.5 million, HAUS-06 at R$1.18 million, and ARTP-DT at R$1.5 million.
The platform has 24 institutional issuers registered on the platform and more than 50 qualified high-net-worth investors. The investor base has an average ticket of approximately US$50,000 and includes four prominent entrepreneurial families and one international multi-family-office relationship.
BWB operates with eight active distribution offices within a broader network of 16 partner investment firms. Its pipeline includes more than 50 additional partners and over 1,000 potential real-estate investment agents.
The company has an approximately R$80 million pipeline of prospective offerings across greenfield development, income-generating properties, senior living, and logistics, with planned expansion into Portugal.
### Public Evidence Links
- Onchain Analytics: [Dune Board](https://dune.com/bwb_digital_assets/bwb)
- HAUS-06 contract and transaction history: [Smart Contract](https://polygonscan.com/address/0x38895a8B5Ee6285262142C5119e09ad60eb68dad)
- ARTP-HS deployment, token, transfer, and transaction records: [Smart Contract](https://polygonscan.com/address/0xb94c6a449f56BCf2206562a6E0E46E2b22D50ee3)
- ARTP-DT deployment and transaction activity: [Smart Contract](https://polygonscan.com/address/0x42Cb58189ae0580cFb78E9289d9aAeD2022Fca02)
- Algarve Home regulated offering: [Public Offering](https://app.bwbi.com.br/organizations/bwb-digital-assets/offerings/jh7bwxkd8zdyhdzkdg07vvzk9h8e0zg7), [Smart Contract](https://basescan.org/address/0x446B50D54455e0368A9998d5B6630da7702D03f8)
- Ópera Apartments regulated offering: [Public Offering](https://app.bwbi.com.br/dashboard/jx7deh35d5r48zx9t8ck9wqqvh81qyc2/offerings/jh7b8h89ghpchr2h40jzaj45wd8aqcm5), [Smart Contract](https://basescan.org/address/0xAC3981dbD6D3348Bb70cac4777421FfC27Ae5E3E)
- Founder interview:
- Matheus Schlichting (CEO): https://youtu.be/L1E5gFbG_j4
- Company profile: [LinkedIn](https://www.linkedin.com/company/bwbi/)
- Offerings Pipeline:
- [Evidence 1](https://drive.google.com/file/d/1wpvXD6c8WW7G2Z7m1yTEpsSjkx3B8A-6/view?usp=sharing)
- [Evidence 2](https://drive.google.com/file/d/1KXJXHgzGkoDAopd5ZEyeOjKciS7NUvpv/view?usp=sharing)
- [Evidence 3](https://drive.google.com/file/d/1koku83PAhBOpMCMYe3NH53iflnfx7PUI/view?usp=sharing)
- [Evidence 4](https://drive.google.com/file/d/1N_nCpYWZJVIsc2kKbATyUiXIZ7dzUZeX/view?usp=sharing)
- [Evidence 5](https://drive.google.com/file/d/1UVspnaA5T9-q_OFBsxZHymayPniQR5vQ/view?usp=sharing)
- [Evidence 6](https://docs.google.com/spreadsheets/d/1hTS8wsixrROViB09jxrkAYViFvV0Ccon/edit?usp=sharing&ouid=100409757127211033793&rtpof=true&sd=true)
- Real Estate Origination Pipeline
- [Evidence 1](https://docs.google.com/spreadsheets/d/12rMdoebAkUTSnO3ZC0mD8T2o_bBomWjG/edit?usp=sharing&ouid=100409757127211033793&rtpof=true&sd=true)
- Distribution Partners Pipeline
- [Evidence 1](https://drive.google.com/file/d/1BludJNsbHKXtrNEuW-zyIt8jUAVkK26b/view?usp=sharing)
- [Evidence 2](https://drive.google.com/file/d/1UARpZEgOsDzcHwHTJgIweWqo2dcvvh5i/view?usp=sharing)
- [Evidence 3](https://drive.google.com/file/d/1n8shxwOVk2sM2eqJxSP3hT1yJAFBXwL5/view?usp=sharing)
- [Evidence 4](https://drive.google.com/file/d/1BemD6c7w34yv66FoqiA65yUguYslWJef/view?usp=sharing)
- [Evidence 5](https://drive.google.com/file/d/1_xc1S2RqCiaPshpOnVFXQX0umVeo1fgk/view?usp=sharing)
- [Evidence 6](https://drive.google.com/file/d/1AfUnpkzGSdX784kPvsar4nidEK88xu_J/view?usp=sharing)
- [Evidence 7](https://drive.google.com/file/d/13YZPFX3Ykp5eSUMo7yEYhI5LpGtfiGX4/view?usp=sharing)
- [Evidence 8](https://docs.google.com/spreadsheets/d/1dw-juw-Y4UvpsSIZDhJoKxlmY9mOg0iU/edit?usp=sharing&ouid=100409757127211033793&rtpof=true&sd=true)
- Investors Database
- [Evidence 1](https://drive.google.com/file/d/1lvx0cL4Ypzwc-kUTSwbITZ4Q-sOikevf/view?usp=sharing)
- [Evidence 2](https://drive.google.com/file/d/1hA9Tz_67TvNFKfX44RbetMTMZDmQLOZZ/view?usp=sharing)
- [Evidence 3](https://drive.google.com/file/d/1bc5sLjUrVgx026l6xyUb39v_AXivrCGB/view?usp=sharing)
- [Evidence 4](https://drive.google.com/file/d/19K0AqzPUbxRzrAwPeCl1CQ47GkQmPN7Q/view?usp=sharing)
- [Evidence 5](https://drive.google.com/file/d/1pNXEjph6R1OC6xhSEQsErvinhADGN_Wh/view?usp=sharing)
- [Evidence 6](https://docs.google.com/spreadsheets/d/1FK0wHCMsuin_2o1rVGTQEb_YKJLEq8rQ/edit?usp=sharing&ouid=100409757127211033793&rtpof=true&sd=true)
- Revenue Model
- [Evidence 1](https://drive.google.com/file/d/1qkHkOxNFJiJye3cvrJgZ6w-jKWUSBAVY/view?usp=sharing)
- Official CVM evidence:
- [Evidence 1](https://drive.google.com/file/d/1zi_5TDi5n0z0NBUzFM13gi6cZlCSASl6/view?usp=sharing)
- [Evidence 2](https://drive.google.com/file/d/1fDTaHZXD2RCz-3C-qo1ATrR6-le3uiEa/view?usp=sharing)
- External counsel engagement evidence:
- [Evidence 1](https://drive.google.com/file/d/1vaD4hdmKTbmI4r_jK69Vq-zrxagZzu7n/view?usp=sharing)
- [Evidence 2](https://drive.google.com/file/d/1esQ-vPiR5V75XTQcxDVCIw8pMvHnTcIU/view?usp=sharing)
- [Evidence 3](https://drive.google.com/file/d/1f7XKAvc8MLb4uElUenv9fHpe04sCX3JK/view?usp=sharing)
Tranche Allocation: US$15,000 — disbursed upfront
Milestone: Upfront grant disbursement executed by SCF upon proposal acceptance and administrative onboarding.
## Tranche #1 — MVP & Core Integration
Tranche Allocation: US$30,000
Completion Date: 12 October 2026
### Deliverable 1 — Embedded Stellar Wallet and Transaction Foundation
Description: Integration of Privy embedded key management and non-custodial Stellar accounts into the core application, enabling investor and developer account creation, user-authorized transaction signing, balance reporting, transaction history, trustline handling, and fee-sponsorship workflows on testnet.
Scope of Work:
- Embedded wallet integration supporting non-custodial multi-chain key generation with multi-factor authentication.
- Account creation, balance tracking, trustline configuration, and transaction-history display.
- Convex transaction orchestration preparing unsigned XDR envelopes for user authorization, with duplicate prevention, timeout, retry, and rejected-signature handling.
- Sponsored base reserves and trustlines plus fee-bump envelopes.
- Public integration tests, edge-case remediation, and defect resolution.
Engineering Allocation: 160h
- Fullstack Engineer: 50h
- Backend Engineer: 35h
- QA Engineer: 25h
- Smart Contract Engineer: 50h
Budget Allocation: US$12,000
How to Measure Completion:
1. A tagged public repository release contains the wallet integration, XDR builder interfaces, deployment/configuration manifest, reproduction instructions, and public CI results.
2. Published Stellar testnet accounts and explorer links demonstrate investor and developer wallet creation/connection, balances, and transaction history without BWB storing private keys.
3. Published transaction hashes demonstrate reserve sponsorship, trustline creation, and fee-bump execution on testnet.
4. Public CI evidence covers duplicate submission, timeout, retry, and rejected-signature scenarios, with every criterion mapped in the public evidence index.
### Deliverable 2 — Soroban Regulated Offering Asset Lifecycle Layer
Description: Implementation and testnet deployment of modular Soroban contracts representing eligible debt and equity positions and enforcing offering eligibility, investor allocation limits, pauses, cooling-off periods, cancellations, and refunds, with immutable execution states indexed by the Convex control plane.
Scope of Work:
- Modular contracts for offering/position registration, eligibility and allocation policy, and lifecycle/refund controls.
- Debt and equity position records plus per-investor and aggregate allocation limits.
- Privileged-action controls for pause/unpause, cancellation, cooling-off, and refund execution.
- On-chain events for issuance, allocation, investment, cancellation, refund, and settlement, supporting reproducible tokenized-AUM reporting with PII off-chain.
- Public automated tests, boundary remediation, authorization and idempotency validation.
Engineering Allocation: 240h
- Smart Contract Engineer: 160h
- Backend Engineer: 30h
- Fullstack Engineer: 25h
- QA/Security Engineer: 25h
Budget Allocation: US$18,000
How to Measure Completion:
1. Public testnet contract IDs, deployment transactions, WASM hashes, source release, and explorer links demonstrate the offering and position modules.
2. Published transactions and decoded events demonstrate eligibility/allocation rejection, investment, pause/unpause, cooling-off, cancellation, and refund state transitions.
3. A public reproducible query calculates tokenized AUM from issuance and active-position events without PII.
4. Public CI and the evidence index map authorization, boundary, pause, refund, replay/idempotency, and failure scenarios to code, tests, transactions, and events.
Completion Date: 7 December 2026
### Deliverable 3 — Distribution Attribution and Commissioning Engine
Description: Integration of Stellar transactions and Soroban events into BWB's distribution and commission ledgers using deterministic attribution and versioned commission rules by offering, office, and member.
Scope: referral attribution without on-chain identity; commission approvals, reversals, cancellations, and refunds; distributor dashboards; multi-office reconciliation.
Engineering Allocation: 100h — Fullstack 35h; Backend 30h; QA 15h; Smart Contract 20h.
Budget Allocation: US$7,500
How to Measure Completion:
1. A tagged public release documents the attribution rule version and event-to-ledger mapping.
2. Published anonymized fixtures and Stellar event references reproduce single, idempotent commission entries and reversals.
3. A public demonstration and evidence export show invested value, units sold, and commission states.
4. Public CI reproduces the multi-office scenario without duplicate attribution or commission entries.
### Deliverable 4 — Compliance Eligibility and BRL Settlement Orchestration Testnet
Description: Provider-independent adapters for verification states and direct BRL entry/exit orchestration reconciled with final Stellar states.
Scope: approved/rejected/expired/manual-review eligibility; authenticated BRL callbacks; double-entry reconciliation; retry and failure handling; PII kept off-chain.
Engineering Allocation: 140h — Backend 50h; Fullstack 40h; QA 25h; Smart Contract 25h.
Budget Allocation: US$10,500
How to Measure Completion:
1. Public interface schemas and anonymized fixtures demonstrate that normalized verification states control offering access.
2. Testnet transaction links and redacted reconciliation exports join BRL deposit/withdrawal records to terminal Stellar states.
3. Public CI covers failed, expired, rejected, refunded, duplicate, and retried operations without state loss.
4. The public evidence index demonstrates that no PII is written to the published Stellar transactions or contract events.
### Deliverable 5 — Cross-Chain Liquidity Engine
Description: Testnet implementation of a non-custodial engine connecting BWB's Base settlement stack to Stellar. Avenia provides BRL/USDC and Base settlement; Circle CCTP transports native USDC bidirectionally between Base and Stellar.
#### D5A — Avenia BRL/Base Settlement Adapters
Allocation: 40h / US$3,000. Avenia is not counted toward Integration List work.
Scope: quote, ticket, internal balance, Base deposit/withdrawal, eligible BRL settlement, cryptographically signed webhooks, and provider-state reconciliation.
#### D5B — Circle CCTP Base–Stellar Transport
Allocation: 80h / US$6,000. This portion is counted as Circle CCTP Integration List work.
Scope: bidirectional burn, Circle attestation retrieval, message delivery, mint, mandatory CctpForwarder routing for Stellar recipients, explicit normalization between six-decimal Base USDC amounts and Stellar's seven-decimal amount representation, replay protection, timeouts/retries, and Base/Stellar reconciliation.
Combined Engineering Allocation: 120h — Backend 35h; Smart Contract 45h; Fullstack 20h; QA 20h.
Combined Budget: US$9,000
How to Measure Completion:
1. Published Base source transaction, Circle message hash/attestation, Stellar destination transaction, and explorer links demonstrate a reconciled Base-to-Stellar testnet transfer through CctpForwarder.
2. Equivalent public evidence demonstrates the reverse Stellar-to-Base flow and its eligible Avenia BRL settlement state.
3. A redacted append-only export and public schema reconcile quote, authorization, Avenia ticket, source transaction, CCTP identifiers, destination transaction, and terminal balance under one durable transfer ID.
4. Public CI covers six-to-seven-decimal USDC normalization, duplicates/replay, expired quotes, timeout, retry, refund, and incomplete transfers.
### Deliverable 6 — DeFindex Soroban Yield Engine Testnet
Description: Integration of DeFindex as a yield rail segregated from regulated real-estate offerings, supporting user-authorized deposits/withdrawals, share accounting, reporting, and risk disclosure.
Engineering Allocation: 120h — Fullstack 35h; Smart Contract 50h; Backend 20h; QA 15h.
Budget Allocation: US$9,000
How to Measure Completion:
1. Published vault address and testnet transaction links demonstrate user-authorized deposits and withdrawals.
2. A reproducible public export reconciles vault shares, underlying value, deposits, withdrawals, and income snapshots.
3. A public application demonstration displays strategy terms, fees, liquidity constraints, performance, and risks separately from real-estate assets.
4. Public CI covers authorization, share conversion, stale data, paused vaults, withdrawals, failures, and reconciliation.
### Deliverable 7 — STRIDE Threat Model and On-Chain Monitoring Plan
Description: Threat model and operational monitoring plan covering the Convex control plane, Stellar execution rail, Privy boundary, Soroban lifecycle, compliance/BRL interfaces, CCTP engine, indexer, attribution, and DeFindex rail.
Engineering Allocation: 120h — Security/DevOps 46h; Smart Contract 34h; Backend 20h; QA 20h.
Budget Allocation: US$9,000
How to Measure Completion:
1. A versioned public data-flow model identifies actors, stores, sensitive flows, custody, dependencies, trust boundaries, and current testnet addresses.
2. A public STRIDE register covers all six categories with IDs, severity, affected components, treatment, and residual-risk decisions.
3. Each threat maps to a tested monitor or documented off-chain control with baseline, trigger, address, and owner.
4. A published drill report demonstrates notification, escalation, guarded pause handling, evidence capture, and monitor updates after address changes.
Completion Date: 18 January 2027
### Deliverable 8 — Mainnet Regulated Distribution and CCTP Launch
Description: Production deployment of Soroban contracts, wallet integrations, indexing, attribution, commissioning, monitoring controls, and the bidirectional Base–Stellar CCTP route connecting investor, issuer, distributor, and settlement journeys.
Scope of Work:
- Mainnet deployment and initialization of offering, eligibility/allocation, position, lifecycle, and distribution contracts.
- Production monitoring rules, critical alerts, address inventory, and guarded emergency-pause procedures.
- Multi-office configuration, investor/developer onboarding, and a live tokenized offering.
- Production activation of the Cross-Chain Liquidity Engine using Circle's published Stellar Mainnet contracts, mandatory CctpForwarder routing, explicit normalization between six-decimal Base USDC amounts and Stellar's seven-decimal amount representation, limits, monitoring, and bidirectional reconciliation.
- A 30-day on-chain measurement window from 20 December 2026 through 18 January 2027, inclusive.
Engineering Allocation: 320h — Fullstack 100h; Backend 75h; Smart Contract 95h; QA 50h.
Budget Allocation: US$24,000
How to Measure Completion:
1. A public mainnet deployment manifest lists contract IDs, WASM hashes, administrative addresses, deployment transactions, and explorer links.
2. A live regulated real-estate offering executes investment, settlement, attribution, and commission reconciliation with published transaction/event evidence.
3. Monitoring rules and alert ownership are mapped to the current production addresses, with a published activation/drill report.
4. At least one production Base-to-Stellar and one Stellar-to-Base CCTP transfer complete with public source/destination transactions, Circle message identifiers/attestations, CctpForwarder evidence, and reconciled terminal states.
5. The public metric report meets the targets in the Tranche #3 Onchain Metric Information field for the defined 30-day window.
### Deliverable 9 — Production Hardening and Operational Readiness
Description: System-wide hardening across Convex, provider adapters, and Stellar under outages, timeouts, duplicate events, conflicting states, and paused protocols.
Engineering Allocation: 280h — Fullstack 95h; Backend 80h; QA 55h; Smart Contract 50h.
Budget Allocation: US$21,000
How to Measure Completion:
1. A tagged release and public CI cover wallet, identity, BRL, Avenia, CCTP, offerings, and DeFindex flows.
2. Published test evidence verifies idempotent processing of duplicate callbacks, webhooks, CCTP messages, and Stellar events.
3. A redacted evidence export demonstrates detection and alerting for incomplete, conflicting, and non-terminal states while preserving append-only records.
4. A public dashboard reports success/failure, latency, reconciliation, tokenized AUM, transaction volume, and wallet metrics without PII.
### Deliverable 10 — Open-Source Release and Final Verification
Description: Open-source release of reusable Soroban contracts and provider-independent integration adapters, technical documentation, and final evidence package.
Engineering Allocation: 200h — Fullstack 55h; Backend 45h; Smart Contract 65h; QA 35h.
Budget Allocation: US$15,000
How to Measure Completion:
1. Reusable contracts and adapters are published under an OSI-approved license with tagged releases and public CI.
2. Documentation covers the Convex boundary, Stellar indexing, unsigned XDR authorization, Privy, compliance/BRL adapters, Avenia, CCTP, and DeFindex patterns.
3. The operational dashboard and reproducible query/export report the final on-chain NAV/AUM, wallets, repeat-asset participation, investments, and volume.
4. The final evidence index maps every D1–D10 criterion to code, release tags, contract addresses, explorer links, transactions/events, CI reports, dashboards, and demonstrations.
## 1. What metric do you plan to measure?
BWB will measure three on-chain production metrics during the defined 30-day window from 20 December 2026 through 18 January 2027, inclusive:
1. Active tokenized real-estate NAV/AUM represented by the published Stellar offering contracts.
2. Unique investor and developer wallet addresses connected to or interacting with those production contracts under a published inclusion rule.
3. Unique investor wallet addresses that acquire or hold positions in at least two distinct debt or equity offering assets.
NAV/AUM is the primary completion metric. Wallet adoption and repeat-asset participation are supporting on-chain product-usage metrics.
### 2. What is your completion target?
By the end of the 30-day production window:
- Active tokenized real-estate NAV/AUM: at least US$4,000,000 equivalent.
- Unique investor and developer wallets: at least 50.
- Investor wallets with positions in at least two distinct offering assets: at least 5.
### 3. How will you track and report it?
BWB will publish all production offering contract and asset addresses, deployment transaction hashes, and Stellar explorer links. A public analytics dashboard will index the relevant contract events and ledger activity.
Tokenized NAV/AUM will be calculated from active on-chain position units multiplied by the disclosed NAV reference for each offering at the reporting timestamp. The report will identify the valuation timestamp, currency-conversion source where applicable, issued units, cancelled/refunded units, active units, and exclusions. Wallet counts will be deduplicated by Stellar address under a published inclusion rule. Repeat-asset participation will count only addresses associated with successful position-acquisition events in two distinct published offering contracts/assets.
The public repository will include:
- the indexed event schema and contract-address manifest;
- the exact calculation methodology and inclusion/exclusion rules;
- reproducible queries or scripts and an anonymized export;
- measurement-window start/end timestamps;
- dashboard links and final snapshots;
- an evidence index linking each reported figure to contracts, transactions, and events.
No investor identity or other PII will be disclosed on-chain or in the public report.
Matheus Schlichting — CEO
LinkedIn: https://www.linkedin.com/in/matheus-rwa/
Lawyer and entrepreneur specializing in the legal and regulatory structuring of digital assets. As CEO and founder of BWB Digital Assets, he leads RWA tokenization strategy, regulated offering structure, AML/CFT, KYC, blockchain governance, partners, and issuer relationships. His executive and regulatory work is not represented as Smart Contract Engineering hours.
Felipe Balestrin — CFO
LinkedIn: https://www.linkedin.com/in/felipebalestrin-/
Mechanical engineer, former asset-management partner, and certified Anbima specialist. He leads financial modeling, risk analysis, treasury and budget governance. His financial role is not represented as engineering hours.
Gabriel Novak — CBO
LinkedIn: https://www.linkedin.com/in/gabriel-novak/
Entrepreneur and engineer specializing in AI, fintech, and blockchain. At BWB, Gabriel leads partner integrations, international growth, and project management with André. He previously co-founded a capital-markets fintech acquired in 2022 and Blockful, a smart-contract auditing and on-chain protocol development company that has built for Uniswap, ENS, Optimism, and other protocols. His commercial role is not included in the 1,800 grant-funded engineering hours.
### Technical Delivery Team
André Albuquerque — CTO / Product Owner
GitHub: https://github.com/andredev-pci3300
LinkedIn: https://www.linkedin.com/in/andrealbuquerquecv
Primary responsibility: Owns product and technical architecture, acceptance criteria, Stellar/Soroban integration boundaries, backend orchestration decisions, security oversight, and final evidence quality. André leads D1–D10 technically, with hands-on responsibility for Convex integration, state reconciliation, contract-policy review, and production readiness.
Availability: September 2026 - January 2027.
Hours: 340h total — D1 30h; D2 30h; D3 15h; D4 30h; D5 25h; D6 20h; D7 45h; D8 50h; D9 50h; D10 45h. The allocation comprises 210h Backend Engineering, 110h Smart Contract Engineering, and 20h Security/DevOps Engineering.
Bruno Amorim — QA & Squad Lead
GitHub: https://github.com/brunoamorim-techlibs
LinkedIn: https://www.linkedin.com/in/bruno-amorim-b4601820b/
Primary responsibility: Leads delivery planning, quality assurance, acceptance testing, CI evidence, release readiness, incident exercises, and cross-functional coordination. Bruno owns the QA work across D1–D10, leads the operational portion of D7, and supports backend validation where testability and reconciliation intersect.
Availability: September 2026–January 2027.
Hours: 351h total — D1 25h; D2 25h; D3 25h; D4 35h; D5 20h; D6 15h; D7 51h; D8 55h; D9 60h; D10 40h. The allocation comprises 285h QA Engineering, 40h Backend Engineering, and 26h Security/DevOps Engineering.
Leonardo Vieira — Senior Soroban/Rust Engineer — Contractor
GitHub: https://github.com/LeonardoVieira1630
LinkedIn: https://www.linkedin.com/in/vieiraleo/
Primary responsibility: Leads Soroban/Rust design, implementation, testing, deployment, and contract-level documentation. Leonardo owns the regulated offering lifecycle contracts in D2 and the principal smart-contract work for wallet sponsorship, CCTP, DeFindex, monitoring, mainnet deployment, hardening, and the open-source release across D1 and D5–D10.
Availability: September 2026–January 2027.
Hours: 534h total — D1 40h; D2 160h; D3 15h; D4 15h; D5 45h; D6 40h; D7 24h; D8 90h; D9 55h; D10 50h. The allocation comprises 484h Smart Contract Engineering and 50h Backend Engineering.
Rafael Jonker — Fullstack Engineer — Contractor
GitHub: https://github.com/rafaeljonker
LinkedIn: https://br.linkedin.com/in/rafael-jonker
Primary responsibility: Leads implementation of the investor, issuer, distributor, wallet, offering, settlement, yield, monitoring, and reporting interfaces. Rafael also implements the application-facing backend endpoints and integration glue required for D1–D6 and the production, dashboard, documentation, and evidence work in D8–D10.
Availability: September 2026–January 2027.
Hours: 575h total — D1 65h; D2 25h; D3 45h; D4 60h; D5 30h; D6 45h; D7 0h; D8 125h; D9 115h; D10 65h. The allocation comprises 455h Fullstack Engineering and 120h Backend Engineering.
Gabriel Novak
Leonardo Vieira
Felipe Balestrin
Bruno Amorim
Matheus Schlichting de Souza
Andre
No other submissions.