Commodities Buyer

What this route does.

You procure containerized commodities on rails where cash only moves on verified events. You run a fixed-price RFQ, EDMA aggregates validated supplier capacity until your quantity is 100% filled, you sign one MPA with EDMA, fund escrow, and Event/Milestone Tokens (EMTs) unlock each tranche.

No EMT, no funds.

Protocol fees are in $EDM (0.5% per milestone of the released tranche, capped); 50% of each fee burns on-chain (effective burn ≈ 0.25% of order, subject to caps).

Scope — what “commodities” means here

In scope:

Any product shipped as ≥ 1 full container load (FCL) — 20’/40’ dry & HC, ISO tank, reefer, flexitank-in-20’, IBC/drums — with objective specs and verifiable milestones (metals/minerals, agri/foodstuffs, energy products, chemicals/fertilizers, industrial goods).

Included: bulk/tanker/breakbulk; LCL/parcel; bespoke one-offs without objective QC.

Who benefits:

Industrial offtakers (QC-tied tranche control), trading houses (replace LCs with escrow + PoV), retail/FMCG lanes (machine-readable audit), SME buyers priced out of LCs.

How it works

1

RFQ (fixed price, full detail)

You set a single fixed price and include: product/grade, total quantity & lotting, Incoterms/ports, delivery window, required certificates, QC/assay method & variance formula, and the milestones + tranche % (e.g., On board / Cleared or Received / Delivered / Assay).

2

Bidding (validated suppliers; partial fills allowed)

EDMA submits the RFQ only to validated suppliers that match your requirements.

Rules:

• price is fixed by you;

• suppliers state what % they can cover (10–100%);

• they accept your milestones.

3

Sourcing filled (100%)

EDMA freezes intake, compiles the Allocation Sheet (supplier → sub-lot → location → certificates), and confirms fill complete.

4

Award & contract (one MPA)

You sign a Master Purchase Agreement with EDMA.

Annexes:

• Allocation Sheet;

• Milestone Schedule & tranche %, QC/assay variance formula, fee-cap class, timelines/SLAs, exceptions. (Internally, each sub-lot runs its own milestone chain and EMTs; you still have one contract.)

5

Fund escrow — money secured, 1:1 on-chain (partial funding allowed).

• Your wire lands in segregated, bankruptcy-remote escrow.

• EDMA mints EDUSD 1:1 and allocates it as locked EDUSD to supplier wallets by sub-lot & tranche.

• Locked EDUSD cannot move except through EDMA marketplace and can be unlocked only via milestone logic.

• Proof-of-Reserves (custodian receipt + bank/issuer attestations) is posted on-chain per funding (T+0 event, plus daily roll-up).

• Redemption SLA: on cancellation or post-close surplus, locked EDUSD burns 1:1 and fiat redeems T+0/T+1 via wire/SEPA/ACH/USDC per MPA.

• Top-ups: to release a later tranche, you must fund so its locked EDUSD exists ≥ 24h before the expected EMT; else the release auto-freezes (see Protections).

6

Milestones → EMTs → Releases

Source systems sign events; when PoV passes, EDMA mints an EMT for that contract•lot•milestone. The contract converts matching locked EDUSD → spendable and releases (or burns & redeems 1:1 to supplier). No EMT, no funds. If the EDM fee leg is missing, the release reverts cleanly (escrow and locked EDUSD stay put).

PoV - what actually gets checked

1

Capture & sign (source systems, UTC).

• On board: terminal TOS move, carrier EDI, BL/SoR (hash-linked).

• Cleared / Received: customs entry/exit or 3PL WMS receipt (time/place/qty).

• Delivered: POD with geotag/time or gate EDI.

• Assay / CIQ: lab CoA with full chain-of-custody.

2

Verify (independent quorum, defaults).

• On board → PORT (TOS) + CARRIER (EDI) (+ INSPECTOR policy-based)

• Cleared/Received → CUSTOMS or WMS + BROKER/OPERATOR

• Delivered → RECEIVER POD + CARRIER/3PL

• Assay/CIQ → LAB (+ INSPECTOR where required)

3

Gate (admissibility, in code)

Before any release we enforce:

1. Quorum present (roles/keys in Attestor Registry; uptime SLAs; fallbacks if a role is offline > X h)

2. Equality of evidence (every counted attestation references the same evidenceHash)

3. One-claim exclusivity (one EMT per contract•lot•milestone network-wide)

4

Revocation SLA & EMT-R

If a counted verification is revoked, pending releases auto-freeze (<24h target). Corrected attestations mint EMT-R (linked to revocation hash) and releases resume

Incoterms → default milestones

Incoterm	Milestones (default)
FOB	On Board → Delivered/Assay → Close
CFR/CIF	On Board → Cleared/Received → Delivered/Assay → Close
DAP	Cleared/Received → Delivered/Assay → Close
DDP	Delivered/Assay → Close

Evidence — minimum fields (short data dictionary)

• On board: contractId, lotId, blNo, vesselVoy, containerIds[], loadPort, timeUTC, tosRef, carrierEdiRef, sorHash

• Cleared/Received: contractId, lotId, customs/WmsId, location, timeUTC, qty/weight

• Delivered: contractId, lotId, podId, geotag, timeUTC, gateEdiRef

• Assay/CIQ: contractId, lotId, labCoaId, cocIds, method, results, varianceCalc

claimId (prevents reuse):

claimId = keccak256(buyerId, supplierId, mpaId, lotId, milestoneCode, incoterm, hash(containerIds[]), vesselVoy, loadPort, dischargePort, timeStartUTC, timeEndUTC, evidenceHash)

QC / assay (tie-break baked in)

• Primary lab per MPA; if outside tolerance, second lab (pre-named).

• Tie-break: choose best-of-two or average-of-two globally.

• The variance formula auto-applies (premia/penalties, moisture/impurity, shortages) before EDUSD releases.

Fees, caps, burn (correct & predictable)

• 0.5% per milestone on the tranche released; caps per tranche: $5k (≤ $1M), $12.5k ($1–5M), $25k (> $5M)

• EDM-only; 50% of each fee burns (never discounted) → effective burn ≈ 0.25% of order (subject to caps)

• Proof mints are gas-minimal; fees apply only when money moves

• Admission prefund (EDM): min(max(0.02 × projected 3-month releases, $20), $1,000); withdrawable post-close

• Paymaster (optional): auto-top-up EDM from EDUSD/fiat with buyer-set max slippage (prevents revert on short EDM). If disabled, short EDM reverts the release without touching escrow.

Funding timing & cut-offs (no surprises)

• Good funds → EDUSD 1:1 T+0 (on-chain event), daily PoR roll-up EOD.

• Top-up deadline: later tranches must be funded ≥ 24h before expected EMT; if not, the EMT can mint but release moves to Pending Funds.

Supplier protections on funding failure (in MPA):

• Interest/penalty on Pending Funds after D+X.

• Supplier exit after D+Y (cancel remaining lots; demurrage/penalty netted against buyer’s Admission Prefund/performance bond).

• Pro-rata release for unaffected sub-lots.

Exceptions & logistics frictions

• Transshipment / split BLs / rollovers: supported. Sub-movements share the same evidenceHash; the contract summarizes to one EMT.

• Short-shipment / overage: auto-adjust at unit basis; record variance in the close packet.

• Demurrage / detention / free-days: responsibility defined in MPA; net outside tranche or per clause.

• Force majeure: evidenced; EMT timers pause until FM ends.

Compliance & legal

• Screening: sanctions/denied-party, export controls/dual-use, anti-boycott, end-use — at RFQ and Award; EDMA blocks award/funding if screening fails.

• Insurance hook: CIF/DDP (and reefer) include cargo insurance binder hash in evidence.

• Arbitration & law: [ICC/SIAC/LCIA], seat [city], governing law [jurisdiction] (defined in MPA).

Audit & ops

• Explorer KPIs: RFQ time-to-fill, PoV latency (p50/p95), attestor uptime, revocation response, funding SLA breaches, releases failed for EDM shortfall (paymaster on/off), double-claim attempts blocked.

• Audit export: CSV/JSON lineage (contractId, lotIds, EMT ids, fees, burns, PoR refs).

Worked example (multi-supplier, partial funding)

$5,000,000 CIF; tranches 30/40/30; three suppliers cover 40/40/20. Buyer funds Milestone 1 only upfront.

• Funding M1: EDUSD 1:1; locked EDUSD split $600k / $600k / $300k; PoR posted.

• On Board (3 EMTs): releases total $1.5M

  – Fee 0.5% of $1.5M = $7,500 (in $EDM) → burn $3,750

• Before Cleared/Received: top-up $2.0M (or M2 sits Pending Funds with penalty per MPA)

• Cleared/Received: release $2.0M; fee $10,000 → burn $5,000

• Delivered/Assay: QC variance applies, then release $1.5M; fee $7,500 → burn $3,750

Totals: fees $25,000 (0.5% of order); burn $12,500 (0.25%) — all under caps.

States (shared with Supplier)

RFQ Open → Bidding → Sourcing Filled → Awarded → Contracted → Funded (EDUSD 1:1 live) → On Board EMT → Cleared/Received EMT → Delivered/Assay EMT → Closed.

Every transition emits an on-chain event; EMTs are proofs, not tradables.

Buyer checklist

• KYC/KYB complete

• Fixed-price RFQ issued

• Allocation Sheet confirmed

• MPA + Milestone Schedule signed

• Escrow funded → EDUSD 1:1 + PoR

• Evidence sources wired (TOS/EDI, customs/WMS, lab; UTC time-sync)

• EDM buffer loaded (or Paymaster on).

Bottom line:

Your principal is secured 1:1 in escrow and mirrored on-chain as locked EDUSD by sub-lot and tranche. Only verified events mint EMTs to unlock it. EMTs move the money. $EDM settles the rail. Half the fee burns.