Originators

Originators are users on the Tradable platform that can list investment opportunities for consideration by Investors. This page provides an overview of the actions originators users can take.

Originator Admin Dashboard (OAD)

Permissioned Tradable users are able to access their entity's Originator Admin Dashboard (OAD).

From their OAD, originators can list new deals, invite their network, manage their deal's syndication process, and issue capital calls and distributions.

List a deal

Originator users can create and list deals on Tradable self-service style by clicking, "List New Deal."

Originators will first fill out information about the deal and define the deal's compliance requirements. The anonymized fields will be represented on-chain in metadata viewable on IPFS, and the compliance requirements will be embedded in the deal's smart contract and determine what investors / wallets are able to participate in the deal and receive / distribute tokens. Once the information is saved, the deal is created in Tradable in a draft state. It can be edited, and it will not be tokenized and made available to investment until the Originator Admin users decides to list it.

To support on-chain flows and USDC on / off-ramp, originators will provide Tradable with access to their Circle Mint account. Deal smart contracts receive and send investor funds directly to and from their deal originator's Circle Mint account.

Next, the originator can preview what the deal will look like in the Tradable ui to investors in both the anonymized and de-anonymized states. If something looks off, they can go back and edit information about the deal.

While any originator user can create a deal on Tradable and fill out its information, only Originator Admin users will be able to list / show a deal on Tradable and make it accessible to permissioned investors. When a deal is listed on Tradable, a smart contract representing the deal will be created and represented on-chain.

If a deal's not ready to be listed yet and/or needs to be reviewed internally before listing first, the Originator Admin user can defer listing and come back to the platform to list at a later date. All information about the deal will be saved.

In addition, deals on Tradable can now be listed in a private, invite-only state. Only whitelisted investors and entities will be able to see and access private deals on the Tradable ui.

Invite contacts to view deal

Via either csv upload or by connecting their crm to Tradable, originators are able to invite their network to view their deals. If you would like to connect your CRM to Tradable, please reach out to [e-mail].

Manage your deals

Edit a deal

Once a deal has been created, originators can double click into the deal on the OAD and edit information about their deal within the deal's overview page by pressing the "pencil" icon.

Set up deal data room

After a deal has been created, originators will be able to set up a data room for their deal where can upload and delete files / documents related to the deal.

• Deal Documents include information about the deal that will help investors decide whether to make an investment or not. Only investors that have signed an NDA with the originator and have been granted access to the deal will be able to see and download these documents.

• Investor Documents include information sensitive to a particular investor. Any documents here will only be made visible to the investor(s) those documents were specifically intended for.

Tradable also allows originators to connect their own external data room service. If you're interested in this, please reach out to [e-mail].

Manage syndications

Within the deal's syndication tab, originators can approve investors' requests to access and invest in deals

• Approve NDAs: Originators can view who has signed an NDA and approve / reject an investor's ability to access the deal's de-anonymized details and data room.

• Approve offers: Originators can view all outstanding offers from investors to receive allocation in the deal. Originators are able to fully accept, reject or partially accept an investor's offer to invest in the deal.

• View waitlist and assess demand: For closed deals, investors can signal to the originator their interest in the deal if future allocation becomes available. Originator can view open interest at any time via the syndication tab.

Connect off-chain data sources

Via API, Tradable is able to integrate with 3rd party services (e.g., fund admin software, shadow accounting software like iLevel, etc.) to pull in off-chain information about a deal like its ownership, deal performance / cash flow, covenant reporting and /or other general data.

This information is relayed to Tradable investors via webapp and off-chain activities (e.g., investments, distributions) are reflected on-chain where appropriate. Tradable listens to any changes in the database caused by off-chain activities and mirrors those updates on-chain so that on-chain ownership appropriately reflects both on / off-chain investors.

Moreover, via the webapp, originators are able to view their deal's ownership table in real time and retrieve information about all of their deal investors (both on / off-chain).

Deal funding for on-chain investors

When an investor elects to fund an investment via wallet, they are required to pre-fund their offer with USDC. Pre-funded offers are received to the deal's smart contract and remain there until the offer is reviewed and/or withdrawn by the investor.

If the investor's offer is rejected (or partially rejected), funds will be immediately returned to the investor. If the investor's offer is accepted (or partially accepted), the investor is notified to finalize their commitment to the deal. Once their investment commitment is finalized, funds are sent from the deal smart contract to the originator's Circle Mint account where they will be off-ramped to USD before being transferred on to the originator's off-chain qualified custodian.

Capital call issuance for off-chain investors

For investors that elect to fund their offer via wire, originators are able to issue capital calls immediately after an investor finalizes their commitment (rolling) to a deal or gradually overtime (drawdown).

• For rolling capital calls, the Tradable application calls funds immediately after an investor finalizes their commitment to a deal.

• For drawdown capital calls, the originator states what portion of the deal that they would like to call from investors.

The originator can confirm receipt of funds on the Tradable platform and/or via their integrated fund admin software. All capital calls are funded by investors directly to originators and no funds are ever managed on or intercepted by the Tradable platform.

Distributions (interest / principal)

For on-chain interest payouts, the originator wires funds to their Circle Mint account (note Circle holds USD with their qualified custodian partners). The originator then initiates an on-chain interest distribution via the Tradable webapp, and USDC is directly minted to the deal's smart contract which disburses interest proceeds to investor wallets. For off-chain interest payouts, the originator can either manually notify Tradable of payouts or Tradable can hook into the originator's preferred fund admin / portfolio reporting software.

For on-chain principal repayments, the originator wires funds to their Circle Mint account (note Circle holds USD with their qualified custodian partners). The originator then initiates an on-chain principal repayment via the Tradable webapp, and USDC is directly minted to the deal's smart contract which distributes principal proceeds out all deal holders. For off-chain principal repayments, the originator can either manually notify Tradable of payouts or Tradable can hook into the originator's preferred fund admin / portfolio reporting software. All off-chain distributions are paid by the deal originator directly to investors and no funds are ever managed on or intercepted by the Tradable platform.

When principal is paid out, deal tokens are burned.