概要
SIPO DRepレビュー支援用の日本語作業訳です。正式な内容はHydra Voting上の英語原文を参照してください。
Jose Velazquez氏のValoris提案は、CIP-68とCIP-113を用いたCardanoネイティブのRWAトークン化フレームワークをオープンソースで構築し、Paraguay/Ecuadorの牛肥育場とParaguayの不動産案件で実証するものです。1,339,000 ADAを求め、WP1でAikenスマートコントラクト、metadata、compliance hooks、dashboardを開発し、WP2/3で農業・不動産の法務フレームワークとオンボーディング、WP4で技術・法務監査、WP5でmainnet tokenization pilot、WP6でマーケティングと拡張戦略を行う構成です。最大15%の年間純利益をCardano Treasuryへ寄付する方針を掲げています。SIPOとしては、RWA・実需・外部資本流入の方向性は戦略的に評価できますが、法的所有権、投資家保護、資産評価、KYC/二次流通制限、収益還元の強制力、MIT公開範囲、個人契約リスク、既存RWA提案との重複を確認する必要があります。
英語原文を表示
This proposal delivers a fully open-source Real-World Asset (RWA) tokenization framework on Cardano, built natively on CIP-68 and CIP-113. The framework standardizes the creation, deployment, and growth of RWA projects through reusable infrastructure that reduces fragmentation and enables faster development of compliant, production-ready applications across asset classes. Both the technical stack and legal/compliance frameworks are released open-source for ecosystem-wide use. CIP-68 enables datum-driven dynamic metadata, so each tokenized asset carries verifiable, mutable on-chain state (operating reports, valuations, lifecycle stage, redemption status). CIP-113 enables programmable token issuance and transfer rules, so jurisdictional KYC, accreditation, and sanctions screening are enforced at the protocol level rather than relying on off-chain trust. Together they give Valoris an institutional-grade, standards-aligned tokenization stack that is auditable and upgrade-friendly by construction. Cardano currently lags competing ecosystems in RWA adoption. Existing projects struggle to scale, builders lack shared infrastructure, and external RWA initiatives have limited migration pathways. This constrains liquidity and competitiveness. Valoris addresses this with a modular smart-contract framework for issuance and lifecycle management (mint → hold → maturity → burn → reinvest), validated through real deployments: a Vierci Development real estate project and three cattle feedlots across Paraguay and Ecuador, onboarding established businesses with existing customer bases. Treasury funds are milestone-gated, used only for infrastructure, legal, and onboarding — never deployed into underlying assets. 15% of net annual profits is returned to the Cardano Treasury via on-chain donation, transparently reported and auditable. Introduces new asset classes and new jurisdictions to the ecosystem.