Key Market Gaps vs Edma PoV
Why this page
Most “RWA DeFi” breaks on contact with reality: PDFs as truth, loose oracles, re-hypothecated IOUs, bridges that duplicate claims, and payouts that ignore performance. EDMA’s DeFi sits on the settlement rail, so finance inherits the same brakes and receipts as trade and tokens.
Non-negotiables that never change:
No EMT, no funds
Must-fund before shipping
One-Claim
Locked EDSD → Unlocked EDSD only on proof
50% of every protocol fee burns in EDM (at event)
ETT is proof-only (never collateral)
EDSD is platform-bound
Bridges mint representations only—EDMA remains canonical
A. The gaps we found
Paper truth / oracle drift — tokenized “assets” point to PDFs and reputations; serials get reused; “green” claims are not auditable.
Unbound lending — loans against illiquid, ambiguously owned NFTs; off-rail IOUs; “yield” unrelated to performance.
Receivables that prepay hope — cash moves before the event; LCs and prepayment friction stay; must-fund is a suggestion.
Liquidations that break reality — forced sales while underlying rights are frozen/disputed; price games on thin markets.
Bridge duplication — the same fact monetized on multiple chains; no single “home.”
No receipts — audit is reconstruction; burns are marketing, not ledgers.
Privacy vs compliance — show too much (PII leakage) or too little (unverifiable claims).
B. What EDMA changes
Market gap
EDMA PoV fix
Paper/oracle truth
PoV Gate admits dossiers only when schema + quorum + equality on bytes pass; One-Claim finalizes uniqueness; mirrors bind a serial to one claim; Revocation freezes narrowly and appends corrections.
Unbound lending
CollateralVault holds PoV-minted, One-Claim FINAL, not-frozen Energy/Carbon NFTs; no rehypothecation; every pledge references the same PoV hash; borrowing/health are pure math on top.
Prepaying hope
EMT receivables are funded-on-proof: nothing pays until EMT PASS and tranche is must-funded; Assurance Pool can front after PASS only, and recovers by waterfall.
Break-reality liquidations
Liquidate only eligible collateral (not frozen, oracle-priced); Dutch / order-book sweeps with backstop; never force Trade cash; return surplus.
Bridge duplication
EDMA is canonical; bridges mint representations carrying claim_id/pov_hash; unlocks require burn proofs; One-Claim blocks duplicate inbound proofs.
No receipts
Every value event emits FeeBurned (hash), and proof pages show PoV hash, claim_id, burn hash, mirror status; escrow & PoR reconcile daily.
Privacy vs compliance
Redactions (salted commitments) + optional ZK statements (e.g., temp in range) keep PII out while proving enough; auditors verify against the same PoV hash.
C. Before / after
Topic
“Typical RWA DeFi”
EDMA PoV
Collateral
NFT points to PDF; serial ambiguous
PoV-minted NFT, One-Claim FINAL, mirror ACTIVE, vault-held
Receivable
Off-rail IOU; pre-event cash
On-rail allocation, settles only on EMT PASS + must-fund
Liquidation
Forced even when rights are disputed
Blocked if FROZEN; partial Dutch/OB; backstop; surplus returned
Bridge
Multi-chain “truth”
EDMA home; reps unlock only with burn proof
Audit
Manual, delayed
Receipts + burn hash + PoV hash; replay from L1 blobs
Privacy
PII in docs or unverifiable
Redactions + ZK bound to PoV hash
D. Where the economics align
Burns are programmatic: Tokens 2% of GMV; Trade ~0.25% per tranche (until caps). DeFi never discounts the burn; it adds usage by making more events settle on time.
Treasury-half funds trust: attestors (SLA-weighted), ops, builders, ecosystem, stakers; rebates/rewards only from treasury half—burn half is sacrosanct.
Lower WCR, same truth: EMT receivables + Supplier Advance reduce seller working-capital without pre-proof leakage.
E. KPIs that prove the change
Burn coverage = 100% of settle/release events (every receipt has a burn hash)
Duplicate block rate > 99.9% (One-Claim)
EMT→Release p95 ≤ 15s (business latency)
Must-fund cures p95 ≤ 48h (Assurance fronts only after PASS)
Liquidation loss rate (principal) = 0; time-to-fill p95 ≤ 6h per lot
Audit replay success = 100%; PoR freshness 100% daily
Privacy compliance 100% redactable paths carry salted commitments
F. What we refuse to do
Accept ETT (proof-only) or wrapped assets as collateral.
Front receivables before EMT PASS, or while PENDING_FUNDS within SLA.
Liquidate frozen tokens or force Trade cash.
“Rebate the burn,” “burn gas,” or let governance vote away brakes.
Bridge EDSD or let bridges create second truths.
G. Integration playbooks
Financiers: Pledge PoV-minted Carbon/Energy NFTs; subscribe to HF/margin hooks; use Dutch/OB auctions; optional Assurance mandates on must-fund lanes.
Insurers: Offer parametric covers bound to PoV hash (temp, delay); price by lane history; pay in EDSD.
Auditors / Corporates: Pull proof packs; match PoV hash, mirror serials, and burn hashes; replay blobs.
Attestors: Onboard to the Registry; publish SLAs; pass random re-inspection; earn from attestors’ share of treasury half.
Plain recap
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