Introduction

Primcast is a compliance-first Layer 2 for real-world energy assets. It lets the owner of a solar farm, a battery or a wind project raise capital on-chain, pay investors out of the asset's revenue and give those investors a market to trade in. Each asset's investor rules are enforced by the chain itself, not by a website.

About Primcast

Primcast is an Arbitrum Orbit rollup that settles to Ethereum. On top of the standard Nitro stack it adds four application systems — identity, physical-asset data, the security token and primary issuance — and relies on established protocols for everything else.

How it works

1. Verify. A registrar — a KYC provider appointed by Primcast governance — writes facts about a wallet on-chain: KYC cleared (and until when), accredited or not, and the holder's jurisdiction. Only these flags are stored, never documents or personal data.
2. Issue and finance. An approved issuer creates a token for a specific asset with its own rules (KYC required? accredited investors only? which jurisdictions?), binds it to the metering devices registered in AssetHub and runs an Initial RWA Offering (IRO) in USDC. If the soft cap is met, investors claim their units and the issuer receives the proceeds; if not, everyone is refunded in full.
3. Operate, distribute and trade. The asset's production readings are posted to AssetHub by a bonded operator. The issuer distributes revenue as USDC dividends, which every holder claims at the same fixed cost however many holders there are, and pays redemptions out of a funded pool. Investors trade on the Primcast DEX, where the token's rules still apply to every counterparty.

The loop

  verified investors ───► offerings fund new assets ───► devices report production
          ▲                                                        │
          │                                                        ▼
  secondary liquidity ◄─── dividends & redemptions (USDC) ◄─── operating revenue
  (DEX, lending)

Each turn of the loop makes the next one cheaper. Verified investors can take part in every offering without repeating onboarding. Assets with a production history on-chain are easier to price. Tokens that can be traded or borrowed against are worth more to hold.

Vision

Energy assets, and especially small and mid-sized distributed ones that capital markets serve poorly, should be as easy to finance, own and transfer as any token. That should not mean giving up the investor-protection rules that make them legal to sell.

Thesis

• Compliance belongs below the application. A rule that lives in a front end is only advisory. On Primcast eligibility is enforced by the token contract on every transfer, and sanctions are also enforced by the sequencer and on the Ethereum delayed inbox. See Compliance.
• Own only what nobody else supplies. The chain provides identity facts, physical-asset data, the security token and primary issuance. Trading, lending, price feeds and automation come from protocols that already exist and are already audited. See Architecture.
• Settle in money people already hold. There is no in-house stablecoin. Settlement is USDC or USDT, so Primcast carries no peg or reserve liability. See Capabilities & boundaries.
• Ethereum security with a responsive user experience. Rollup settlement means asset safety does not depend on a small validator set. The dedicated sequencer gives 100 ms blocks and removes the public-mempool front-running that forced EnergyChain into batch auctions.

Where to go next

• New to the idea? Read The problem and Why Primcast.
• Evaluating the design? Start with Architecture, then Capabilities & boundaries and Trust & security.
• Want to participate? See the guides for investors, issuers and developers.