Capabilities & boundaries
This page sets out what Primcast is for, what it can do today, what it deliberately does not do, and how far each of its guarantees reaches.
Goals
- Finance real energy assets on-chain, especially small and mid-sized distributed ones, with a primary issuance path that refunds investors in full if a raise falls short.
- Make investor rules enforceable, not advisory, including when tokens move through DEXs and lending markets.
- Pay holders at constant cost, whatever the number of holders, in the stablecoins they already use.
- Put production data where investors can see it, reported by operators with a bond at stake.
- Inherit Ethereum's security and stay compatible with the EVM tools and protocols the market already uses.
Capabilities
| Area | What Primcast does today |
|---|---|
| Chain | 100 ms blocks, first-come-first-served ordering with a private mempool, data posted to Ethereum, force-inclusion after 24 h, canonical bridge for ETH, USDC, USDT and ERC-20s |
| Compliance | Sanctions enforced at the sequencer, the delayed inbox and the contracts; per-asset KYC, accreditation and jurisdiction rules; registry and per-token freeze; forced transfer and clawback; a full event audit trail |
| Identity | On-chain KYC, accreditation and jurisdiction facts with expiry; multiple appointed registrars; an enumerable sanctions list; no personal data on-chain |
| Assets | One ERC-20 per asset; holder cap; pause and maturity; venue model for third-party protocols; device binding |
| Payouts | Dividends at the same cost for any number of holders; a redemption queue with a notice period and an issuer-funded pool |
| Issuance | Soft and hard cap offerings with an all-or-nothing outcome, full refunds on failure or cancellation and a one-shot proceeds withdrawal |
| Data | Bonded providers, slashing and jail; device registry with attestation; cross-checked readings; median topics |
| Markets | A compliant AMM (Primcast DEX) with gated LP tokens and dividends to LPs; lending and price feeds planned through Morpho and Chainlink |
Boundaries — what Primcast deliberately does not do
- It issues no stablecoin. Settlement is USDC or USDT. There is no peg, reserve or redemption liability on Primcast's side.
- It does not hold assets or legal title. The link between a token and the physical asset is the issuer's legal structure, published through the token's
metadataURI. The chain enforces the token's rules, not the underlying contract. - It does not vet assets or promise returns. Being on Primcast says nothing about an asset's quality, valuation or revenue.
- It does not perform KYC. Registrars do, off-chain. The chain records their conclusions.
- It cannot freeze or seize stablecoins. Only Circle or Tether can.
- It cannot pause third-party venues. Pausing a token is what stops trading in it.
- It does not price assets. Trading and lending prices come from markets and Chainlink; AssetHub topics are for energy data.
- It has no governance token and no on-chain voting. Governance is a Safe multisig.
- It does not do tranching or staged capital release (v1). Offering proceeds go to the issuer in one withdrawal.
- It has no fast withdrawal to Ethereum of its own. Exits wait for the challenge period unless a third party provides liquidity.
- Features not carried over from EnergyChain: the bonding-curve launch venue (
x/mincast), the in-consensus batch auction (x/market), the scheduler (x/automation), the in-house stablecoin (x/stableusd) and the custom bridge (x/bridge).
How far the guarantees reach
| Guarantee | Holds as long as… | Where it stops |
|---|---|---|
| Your transaction is included | The sequencer is live and honest | If not, force-include through Ethereum after 24 h (unless you are sanctioned) |
| The chain state is correct | At least one honest validator watches; at launch validators are allow-listed | Before BoLD is open, you trust the allow-listed set |
| Funds can leave to Ethereum | The canonical bridge and the rollup contracts are not changed against you | Governance can upgrade them; withdrawals take about a week |
| Only eligible wallets hold a token | Registrars record accurate facts; the token's rules are set appropriately | Registrars are trusted; the issuer can change some rules later |
| Sanctions are enforced | The on-chain list is maintained | The sequencer list lags by about 5 minutes; ETH deposits from a restricted L1 address cannot be dropped |
| Dividends are shared pro rata | The issuer distributes | Nothing forces an issuer to distribute |
| Redemptions pay the fixed price | The redemption pool holds enough | Execution reverts while the pool is underfunded; the issuer can change the price for future requests |
| Production data is recorded | The operator reports honestly | Readings are reported by the issuer's own operator; "verified" means internally consistent |
| Contract rules stay as described | Governance does not upgrade them | No timelock: an upgrade applies as soon as the Safe executes it, including over escrowed funds |
Primcast is not…
- a bank, broker, exchange, custodian or investment adviser;
- an issuer of any of the assets it hosts;
- a guarantor of an issuer's performance, an asset's revenue or a token's price;
- a KYC provider;
- a permissionless, governance-free system. It is operated and governed, and says so.