Understand

Life of a Deal

Three perspectives. One deal. Pick your vantage point and follow the CrossSecurities lifecycle from start to finish.

You Submit Your Deal

You're an established company that wants to raise capital. You come to the platform — directly or through an introducer. Sails.to (or the white-label operator) structures your offering as CrossSecurities — securities that live on-chain (Solana) but can convert to bankable ISIN form via Clearstream. One issuance, two worlds. A Wyoming DAO Series LLC is created with five firewalled Series. A trustee is appointed to authenticate transactions on investors' behalf.

flowchart TD YOU["🏢 You want to raise $10M"] PLAT["🏛️ Platform structures the offering"] subgraph DAO["Your DAO Series LLC — 5 firewalled Series"] OPS["💼 Operating Cashflow & pledges"] REV["📊 Revenue Income collection"] DEP["🔒 Deposit Security deposit"] TRS["💰 Treasury Token reserves"] CCS["🔄 CrossConversion On-chain ↔ ISIN"] end TRU["🔐 Trustee appointed"] LIVE["✅ Offering goes live"] YOU ==>|"submit deal"| PLAT PLAT ==>|"creates"| DAO PLAT ==>|"appoints"| TRU TRU ==>|"trust deed executed"| LIVE style YOU fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style PLAT fill:#3182ce,color:#fff,stroke:#2c5282,stroke-width:2px style DAO fill:#f7fafc,color:#1a202c,stroke:#a0aec0,stroke-width:2px style OPS fill:#9f7aea,color:#fff,stroke:#805ad5,stroke-width:2px style REV fill:#319795,color:#fff,stroke:#2c7a7b,stroke-width:2px style DEP fill:#718096,color:#fff,stroke:#4a5568,stroke-width:2px style TRS fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style CCS fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px style TRU fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style LIVE fill:#38a169,color:#fff,stroke:#276749,stroke-width:3px

$0 upfront. No structuring fee, no legal fees, no listing charges. You only pay when real money comes in.

Five Series, one LLC. Each Series is legally firewalled — creditors of one cannot reach assets of another. The Operating Series holds your cashflow and pledges. The Revenue Series collects income — investors are paid first, then the balance flows to other interest holders. The Deposit Series holds your 3% security deposit (you and the trustee both have access — the trustee authenticates any use). The Treasury Series holds token reserves and un-issued tokens. The CrossConversion Series is the lockbox for on-chain ↔ ISIN conversion.

The trustee authenticates — doesn't control. You make the decisions about your business. The trustee validates that every transaction complies with the trust deed. For distributions, the trustee signs off on your request. For the deposit, you and the trustee access it together. Multi-party, not single-party.

Why "Cross"? Your securities are issued on Solana for 24/7 trading and instant settlement — but any investor can CrossConvert to bankable ISIN format (via Clearstream) at any time. The holding form changes; the security doesn't. This means you reach crypto-native investors and traditional bank-custody investors from a single offering.

Brokers Bring the Money

Your CrossSecurities offering is distributed through a global network of licensed brokers. Because investors can hold on-chain or CrossConvert to bankable ISIN form, your offering is accessible to both crypto-native and traditional investors. Subscription funds sit in trust escrow — you don't touch them until the soft cap is hit.

flowchart TD LIVE["✅ Your offering is live"] BROKERS["🏦 Broker network distributes to their investors"] ESC["🔐 Trust Escrow funds held safely"] CAP["🎯 Soft cap reached"] LIVE ==> BROKERS BROKERS ==>|"subscriptions"| ESC ESC ==>|"threshold met"| CAP style LIVE fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px style BROKERS fill:#3182ce,color:#fff,stroke:#2c5282,stroke-width:2px style ESC fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style CAP fill:#38a169,color:#fff,stroke:#276749,stroke-width:3px

You don't find investors. Brokers do the placement and KYC. You can also refer your own investors at a lower fee (1% instead of 6%).

Soft cap protection. If the minimum isn't reached, investors get their principal returned — no fees are charged. Fees are deferred during the soft-cap phase and deducted from proceeds once the cap is reached.

You Receive Your Funds

Soft cap reached. Fees are deducted automatically from proceeds. The Deposit Series reserves a 3% security deposit. You receive the net amount. Investors already hold their CrossSecurities tokens (minted upfront from the Treasury Series) — their permissions now upgrade from non-transferable to fully active. They can CrossConvert to ISIN form whenever they choose.

flowchart TD RAISE["🎯 $10M raised"] subgraph DEDUCT["Automatic deductions"] D1["6% distribution broker-placed"] D2["3% security deposit → Deposit Series"] D3["1%/yr trust & admin"] end YOU["🏢 You receive ~$9.0M net"] INV["👤 Investors receive tokens"] RAISE ==> DEDUCT DEDUCT ==>|"net proceeds"| YOU DEDUCT -.->|"tokens minted"| INV style RAISE fill:#38a169,color:#fff,stroke:#276749,stroke-width:3px style DEDUCT fill:#fff5f5,color:#1a202c,stroke:#d69e2e,stroke-width:2px style D1 fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style D2 fill:#718096,color:#fff,stroke:#4a5568,stroke-width:2px style D3 fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style YOU fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style INV fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px

What It Costs You

6% broker-placed investors

1% your own referrals

1%/yr trust & administration

3% security deposit (returned)

Full Pricing & Calculator →

Revenue Flows to Investors

You generate returns — royalties, interest, dividends, or profit share. You deposit into the Revenue Series. Investors are paid first. The trustee authenticates each distribution against the trust deed — you initiate, the trustee validates, the smart contract executes.

flowchart TD YOU["🏢 You deposit revenue"] REV["📊 Revenue Series income collected"] TRU["🔐 Trustee authenticates distribution"] INV["👤 Investors paid first"] BAL["💼 Balance to other interest holders"] YOU ==>|"deposit"| REV REV ==>|"you request distribution"| TRU TRU ==>|"authenticated"| INV INV -.->|"remainder"| BAL style YOU fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style REV fill:#319795,color:#fff,stroke:#2c7a7b,stroke-width:2px style TRU fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style INV fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px style BAL fill:#9f7aea,color:#fff,stroke:#805ad5,stroke-width:2px

No manual payouts. You deposit once into the Revenue Series. The Corporate Actions smart contract handles pro-rata distribution to every holder — whether they hold on-chain or in bankable ISIN form. Investors receive their share first; the balance flows to fees and then to you.

You initiate, the trustee authenticates. The trustee confirms your distribution request complies with the trust deed — they don't make the decision for you. Both signatures required, neither acts alone.

Format doesn't affect returns. Investors holding CrossSecurities on-chain get paid instantly on Solana. Investors holding ISIN form get paid via Clearstream to their bank. Same distribution, different delivery rails. You don't need to manage either — the smart contract handles both.

Your Investors Trade — On-Chain and Off

While your deal is live, investors trade CrossSecurities through the multi-broker OTC network. On-chain trades settle atomically on Solana (T+0). Investors can also CrossConvert to bankable ISIN form via the CrossConversion Series and trade through traditional channels — or convert back. The 0.75% CrossConversion fee is split between trustee and platform. You don't manage any of this.

flowchart TD INV1["👤 On-chain holder"] INV2["👤 ISIN holder"] OTC["🔄 OTC Network atomic settlement (T+0)"] CCS["🔒 CrossConversion 0.75% fee"] BANK["🏦 Clearstream bank custody"] INV1 ==>|"trade"| OTC INV1 ==>|"convert"| CCS CCS ==>|"1:1 lockbox"| BANK BANK -.->|"convert back"| CCS INV2 -.->|"trade via broker"| OTC style INV1 fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style INV2 fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style OTC fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px style CCS fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px style BANK fill:#3182ce,color:#fff,stroke:#2c5282,stroke-width:2px

You never manage secondary trading. The on-chain OTC network, CrossConversion lockbox, and Clearstream settlement all operate automatically. Compliance is enforced at the protocol level — every transfer checks investor eligibility.

Optional upgrades. ISIN registration (~$4k) enables CrossConversion. ViennaMTF listing (~$3k) adds public exchange visibility. Both optional, both available when you're ready.

The Deal Closes

At maturity you repay principal through the same flow. The trustee authenticates the final distribution. The Deposit Series returns your 3% security deposit. The DAO LLC can be wound down or re-used for your next offering.

flowchart TD YOU["🏢 You repay principal"] REV["📊 Revenue Series"] TRU["🔐 Trustee authenticates"] INV["👤 Investors principal returned"] DEP["🔒 Deposit Series 3% returned to you"] DONE["✅ Deal complete"] YOU ==>|"deposits"| REV REV ==>|"final request"| TRU TRU ==>|"distributed"| INV TRU ==>|"released"| DEP INV ==> DONE style YOU fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style REV fill:#319795,color:#fff,stroke:#2c7a7b,stroke-width:2px style TRU fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style INV fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px style DEP fill:#718096,color:#fff,stroke:#4a5568,stroke-width:2px style DONE fill:#38a169,color:#fff,stroke:#276749,stroke-width:3px

Full Issuers Page → Start Your Raise

Your Broker Brings You a Deal

Your broker presents a CrossSecurities offering — an established company raising capital through a Wyoming DAO Series LLC. The deal has an appointed trustee who authenticates every transaction, a trust deed protecting your interests, and a 3% security deposit in a dedicated Deposit Series.

flowchart TD BRK["🏦 Your Broker presents opportunity"] YOU["👤 You professional investor"] DEAL["📋 The Offering $10M raise, DAO LLC"] TRU["🔐 Trustee authenticates transactions"] DEP["🔒 3% Deposit Series backs performance"] BRK ==>|"presents deal"| YOU YOU ==>|"reviews"| DEAL DEAL --- TRU DEAL --- DEP style BRK fill:#3182ce,color:#fff,stroke:#2c5282,stroke-width:2px style YOU fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style DEAL fill:#9f7aea,color:#fff,stroke:#805ad5,stroke-width:2px style TRU fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style DEP fill:#718096,color:#fff,stroke:#4a5568,stroke-width:2px

Structurally protected. Every deal has a licensed trust company that authenticates major transactions — distributions, deposit access, wind-down — on behalf of investors. The issuer makes business decisions; the trustee validates them against your trust deed.

$0 to subscribe. No fees at issuance. The issuer pays the distribution fee — you buy in at par.

You Subscribe

You commit capital through your broker. Funds go to trust escrow — not to the issuer. You receive your CrossSecurities token immediately — during the soft cap phase it functions as a zero-coupon bond (non-transferable, refundable). If the soft cap isn't reached, the security redeems at par and your full principal is returned. Once the cap is hit, your token's permissions upgrade: it becomes transferable and represents the full security.

flowchart TD YOU["👤 You commit $500k"] BRK["🏦 Your Broker verifies KYC"] ESC["🔐 Trust Escrow funds held safely"] TOK["🪙 You receive token (zero-coupon bond until soft cap)"] CAP{{"Soft cap?"}} LIVE["✅ Token upgrades full security, transferable"] REF["💵 Redeems at par principal returned"] YOU ==>|"subscribe"| BRK BRK ==>|"forwards funds"| ESC BRK ==>|"token issued"| TOK TOK ==> CAP CAP ==>|"reached"| LIVE CAP -.->|"not reached"| REF style YOU fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style BRK fill:#3182ce,color:#fff,stroke:#2c5282,stroke-width:2px style ESC fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style TOK fill:#9f7aea,color:#fff,stroke:#805ad5,stroke-width:2px style CAP fill:#718096,color:#fff,stroke:#4a5568,stroke-width:2px style LIVE fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px style REF fill:#718096,color:#fff,stroke:#4a5568,stroke-width:2px

You Trade

Your securities are live. You can sell to other investors through the multi-broker OTC network, or buy more. Trades settle atomically on Solana — token transfer, payment, and fees in one transaction. T+0, not T+2.

flowchart TD YOU["👤 You want to sell"] BRK["🏦 Your Broker"] NET["🔄 OTC Network multi-broker matching"] subgraph ATOMIC["⚡ Atomic Settlement"] TX["Tokens + Payment + Fees all-or-nothing"] end BUYER["👤 Buyer"] YOU ==>|"list"| BRK BRK ==> NET NET ==> TX TX ==>|"payment"| YOU TX ==>|"tokens"| BUYER style YOU fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style BRK fill:#3182ce,color:#fff,stroke:#2c5282,stroke-width:2px style NET fill:#3182ce,color:#fff,stroke:#2c5282,stroke-width:2px style ATOMIC fill:#f0fff4,color:#1a202c,stroke:#38a169,stroke-width:2px style TX fill:#38a169,color:#fff,stroke:#276749,stroke-width:3px style BUYER fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px

0.5% brokerage fee — paid by the buyer. Split three ways: ⅓ buy-side broker, ⅓ sell-side broker, ⅓ platform. Deferred during soft-cap phase and charged once soft cap is reached.

CrossConversion — prefer holding ISIN securities in a bank? CrossConvert your tokens via the lockbox: 1:1, 0.75% fee, settled through Clearstream. The reverse works too.

You Get Paid First

The issuer deposits revenue into the Revenue Series. The trustee authenticates the distribution. You — the investor — receive your share first. The balance then flows to other interest holders. The smart contract pays you automatically.

flowchart TD CO["🏢 Issuer deposits revenue"] REV["📊 Revenue Series"] TRU["🔐 Trustee authenticates"] YOU1["👤 On-chain paid instantly"] YOU2["👤 ISIN holder paid via Clearstream"] CO ==>|"deposits"| REV REV ==>|"issuer requests, trustee authenticates"| TRU TRU ==>|"on-chain"| YOU1 TRU ==>|"Clearstream"| YOU2 style CO fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style REV fill:#319795,color:#fff,stroke:#2c7a7b,stroke-width:2px style TRU fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style YOU1 fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px style YOU2 fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px

If the issuer misses a payment — the trustee can access the 3% Deposit Series to enforce remedies per the trust deed. Your interests are protected by structure, not goodwill.

You Get Your Principal Back

At maturity, the issuer repays principal through the same authenticated flow. Trustee confirms, smart contract distributes. Deal done.

flowchart TD MAT["📅 Maturity"] CO["🏢 Issuer repays principal"] TRU["🔐 Trustee authenticates"] YOU["👤 You principal returned"] DONE["✅ Deal complete"] MAT ==> CO CO ==>|"deposits"| TRU TRU ==>|"distributed"| YOU YOU ==> DONE style MAT fill:#718096,color:#fff,stroke:#4a5568,stroke-width:2px style CO fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style TRU fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style YOU fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px style DONE fill:#38a169,color:#fff,stroke:#276749,stroke-width:3px

Full Investors Page → Register Interest

You're Appointed to a Deal

An issuer has submitted an offering. The platform selects your firm from the pre-approved trustee registry. You execute the trust deed and take responsibility for authenticating transactions across five Series within the DAO LLC. The issuer and investors make the decisions — your role is to validate them.

flowchart TD PLAT["🏛️ Platform appoints you"] YOU["🔐 Your Firm executes trust deed"] subgraph DAO["DAO Series LLC — your jurisdiction"] OPS["💼 Operating Cashflow & pledges"] REV["📊 Revenue Income, investor-first waterfall"] DEP["🔒 Deposit 3% security deposit"] TRS["💰 Treasury Token reserves"] CCS["🔄 CrossConversion On-chain ↔ ISIN lockbox"] end YOU ==>|"authenticate"| OPS YOU ==>|"authenticate"| REV YOU ==>|"issuer + you"| DEP YOU ==>|"oversee"| TRS YOU ==>|"authenticate"| CCS PLAT ==>|"appointment"| YOU style PLAT fill:#3182ce,color:#fff,stroke:#2c5282,stroke-width:2px style YOU fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style DAO fill:#f7fafc,color:#1a202c,stroke:#a0aec0,stroke-width:2px style OPS fill:#9f7aea,color:#fff,stroke:#805ad5,stroke-width:2px style REV fill:#319795,color:#fff,stroke:#2c7a7b,stroke-width:2px style DEP fill:#718096,color:#fff,stroke:#4a5568,stroke-width:2px style TRS fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style CCS fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px

Five Series, clear mandate. Operating Series — cashflow and pledges; the issuer operates, you authenticate. Revenue Series — collected income; investors paid first (waterfall), you authenticate each distribution. Deposit Series — 3% security deposit; you and the issuer both have access, you authenticate any use. Treasury Series — token reserves and un-issued tokens; under your oversight. CrossConversion Series — the on-chain ↔ ISIN lockbox; you authenticate conversions.

Two roles, one appointment. As Financial Trustee, you authenticate major transactions — distributions, deposit access, wind-down — on behalf of investors. As Series Administrator, you handle day-to-day administration of each DAO LLC Series: compliance, record-keeping, reporting. These roles can be held by the same firm or split between separate entities.

You authenticate, you don't control. The issuer makes business decisions. Investors vote where governance requires it. Your role is to validate that every transaction complies with the trust deed. Multi-party at every step.

You Hold Escrow During Fundraise

Subscription funds flow into trust escrow under your authority. You monitor progress against the soft cap. If the cap isn't reached, you return the principal. If it is, you authenticate the release of proceeds — fees are deducted, the Deposit Series receives the 3%, and the issuer gets the net.

flowchart TD INV["👤 Investors subscribe via brokers"] ESC["🔐 Trust Escrow under your authority"] CAP{{"Soft cap?"}} REL["✅ Authenticate release fees deducted, deposit reserved"] RET["↩️ Return principal"] INV ==>|"funds"| ESC ESC ==> CAP CAP ==>|"reached"| REL CAP -.->|"not reached"| RET style INV fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style ESC fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style CAP fill:#718096,color:#fff,stroke:#4a5568,stroke-width:2px style REL fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px style RET fill:#718096,color:#fff,stroke:#4a5568,stroke-width:2px

You Authenticate Every Distribution

The issuer deposits revenue into the Revenue Series and requests a distribution. You validate the request against the trust deed. Once you authenticate, the smart contract distributes automatically — investors receive their share first, then the balance flows to other interest holders.

flowchart TD CO["🏢 Issuer deposits revenue"] REV["📊 Revenue Series income collected"] YOU["🔐 You authenticate against trust deed"] SC["⚡ Corporate Actions smart contract"] INV["👤 Investors paid first"] BAL["💼 Balance to other interest holders"] CO ==>|"deposits"| REV REV ==>|"issuer requests distribution"| YOU YOU ==>|"authenticated"| SC SC ==>|"waterfall priority"| INV INV -.->|"remainder"| BAL style CO fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style REV fill:#319795,color:#fff,stroke:#2c7a7b,stroke-width:2px style YOU fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style SC fill:#3182ce,color:#fff,stroke:#2c5282,stroke-width:2px style INV fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px style BAL fill:#9f7aea,color:#fff,stroke:#805ad5,stroke-width:2px

If the issuer misses a payment — you enforce remedies per the trust deed. The Deposit Series is at your disposal (with the issuer's participation) for orderly resolution.

You Authenticate CrossConversions

Investors can convert between on-chain tokens and bankable ISIN securities. The CrossConversion Series is a lockbox — tokens lock 1:1 and ISIN securities issue through Clearstream, or vice versa. You authenticate each conversion.

flowchart TD INV["👤 Investor requests conversion"] CCS["🔒 CrossConversion Series"] YOU["🔐 You authenticate"] subgraph LOCK["1:1 Lockbox"] TOK["🪙 Token locked"] ISIN["📄 ISIN issued via Clearstream"] end INV ==>|"0.75% fee"| CCS CCS ==>|"request"| YOU YOU ==> TOK TOK ==> ISIN style INV fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style CCS fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px style YOU fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style LOCK fill:#f0fff4,color:#1a202c,stroke:#38a169,stroke-width:2px style TOK fill:#9f7aea,color:#fff,stroke:#805ad5,stroke-width:2px style ISIN fill:#3182ce,color:#fff,stroke:#2c5282,stroke-width:2px

Deal Closes — You Earn Throughout

At maturity you authenticate the final distribution and release the Deposit Series back to the issuer. Your fee — ⅔ of the 1% annual trust and administration charge — runs for the life of every deal you're appointed to. The CrossConversion share adds on top.

flowchart TD CO["🏢 Final principal"] YOU["🔐 You authenticate"] INV["👤 Investors principal returned"] DEP["🔒 Deposit Series released to issuer"] DONE["✅ Deal complete"] subgraph FEE["Your Revenue"] F1["⅔ of 1%/yr trust & admin"] F2["CrossConversion share of 0.75%"] end CO ==>|"deposits"| YOU YOU ==>|"distributed"| INV YOU ==>|"released"| DEP INV ==> DONE style CO fill:#805ad5,color:#fff,stroke:#6b46c1,stroke-width:2px style YOU fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style INV fill:#38a169,color:#fff,stroke:#276749,stroke-width:2px style DEP fill:#718096,color:#fff,stroke:#4a5568,stroke-width:2px style DONE fill:#38a169,color:#fff,stroke:#276749,stroke-width:3px style FEE fill:#fffff0,color:#1a202c,stroke:#d69e2e,stroke-width:2px style F1 fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px style F2 fill:#d69e2e,color:#fff,stroke:#b7791f,stroke-width:2px

Full Trustees Page → Join the Registry