How do we think slowly so the system gets smarter each cycle?
Build Contract
| # | Feature | Function | Outcome | Job | State |
|---|
| 1 | zkLogin Next.js Portal | "Sign in with Google" wallet generation | Investor onboarding friction drops to near zero | Buy Shares | Build |
| 2 | Move Capabilities Map | WholesaleInvestorCap object | Strict compliance on secondary markets without SQL | Sync Ledgers | Build |
| 3 | SumSub Webhook BFF | Issues capabilities based on KYC state | Real-world identities attach to Sui addresses | Validate Auth | Build |
Principles
What truths constrain the design?
The Job
| Element | Detail |
|---|
| Situation | When syndicating commercial properties to NZ Wholesale Investors... |
| Intention | ...issuers want frictionless investor flow and robust compliance... |
| Obstacle | ...but standard EVM portals use complex Web3 wallets and off-chain SQL. |
Why Now
If we don't build this on Sui, EVM fragmentation will kill the RWA momentum. Sui's Object Model provides the first structural path to programmatic compliance.
Design Constraints
| Constraint | Rationale |
|---|
| Pure zkLogin | Boomer investors will abandon the cart if forced to write down 12 words. |
| Object Capabilities | EVM-style mapping loops cost too much gas and are harder to formally verify. |
PRIORITY = Pain x Demand x Edge x Trend x Conversion
| Dimension | Score (1-5) | Evidence |
|---|
| Pain | 4 | Drop-offs on Web3 onboarding. Weeks spent reconciling tables. |
| Demand | 4 | High demand for real estate liquidity solutions. |
| Edge | 4 | Move object models and zkLogin integration eliminates onboarding friction. |
| Trend | 4 | RWA is shifting to compliant-first scaling L1s. |
| Conversion | 4 | Wholesale NZ avoids Retail PDS, providing a clear to-market route. |
| Composite | 1024 | Build now. |
Kill signal: If we cannot find a workable local fiat rail API within 4 weeks for dividend distribution, the business case evaporates because issuers refuse crypto-only payouts.
| Input Category | Examples | Expected % | Quality Expectation |
|---|
| Clean, standard | Standard AU/NZ Accountant Certificates | 80% | Excellent |
| Edge case | Complex Trust entity chains | 15% | Acceptable |
| Out of scope | Retail investors | 5% | Safe refusal (UI disabled) |
Build Ratio
~40% composition (Next.js, UI), ~60% new code (Sui Move Contracts, BFF integrating Fiat/KYC).
Protocols
Build Order
| Sprint | Features | What | Effort | Acceptance |
|---|
| 0 | #2 | Move Capability MVP | 2 weeks | Formal verification passes capabilities check |
| 1 | #1 | Next.js zkLogin Portal | 2 weeks | e2e Google login signs transaction |
| 2 | #3 | Webhook BFF integration | 2 weeks | SumSub approval triggers capability minting |
Players
Demand-Side Jobs
Job 1: Syndicator Issue & Reconcile
Situation: When managing 300+ investors across multiple properties...
| Element | Detail |
|---|
| Struggling moment | Tracing secondary transfers against off-chain legal entities. |
| Current workaround | Giant Excel sheets + expensive lawyers. |
| What progress looks like | A dashboard where every on-chain move is 100% verified compliant. |
| Hidden objection | "I can't afford to have non-compliant actors touch my cap table." |
| Switch trigger | Demonstrating an impossible illicit transfer in a demo. |
Relationship to Other PRDs
| PRD | Relationship | Data Flow |
|---|
| Agent Platform | Peer | Later extension for AI agents representing investors |
Context