Mailing Lists/CIP-0113: Add Further Asset Management as a Super Validator (Weight 8.0) - Yiannis VarelasSource on lists.sync.global ↗

CIP-0113: Add Further Asset Management as a Super Validator (Weight 8.0) - Yiannis Varelas

cip-discussCIP-011314 messagesstarted 11-02-2026

Also mentions:CIP-0056

#1Amanda Martin11-02-2026source ↗
Title: Add Further Asset Management as a Super Validator (Weight 8.0)
Author: Yiannis Varelas
Status: Draft
Type: Governance
Created: 2025-11-26
License: CC0-1.0
Abstract
This proposal seeks to add Further Asset Management (“Further”) as a Super Validator (SV) on the Canton Network with a maximum reward weight of 8.0, earned exclusively through milestone-based delivery.
Further operates an integrated investment and infrastructure platform spanning venture, liquid strategies, and regulated financial services. Through its portfolio companies and institutional partnerships, Further will act as a regional aggregation layer for the GCC, onboarding sovereign-aligned capital, regulated settlement workflows, and real-world assets onto the Canton Global Synchronizer.
About the Applicant
Further Asset Management is an investment and infrastructure platform operating across the UAE and broader GCC region. Its portfolio includes regulated settlement, custody, payments, and asset origination entities, including BridgePort, Pave Bank, Kaio, and Fuze.
Further is strategically aligned with the Abu Dhabi ecosystem and supported by sovereign-linked capital. As an SV, Further’s role is to coordinate and deliver institutional-grade applications that generate sustained, customer-driven Canton Network activity.
Deliverables for SV Reward (Total Maximum Weight: 8.0)
1. Atomic Off-Exchange Settlement (BridgePort)
Description:
Migration of BridgePort’s real-time variation margin settlement and margin financing workflows onto Canton MainNet.
Acceptance Criteria:
BridgePort manages all margin settlements via its Canton application on MainNet
Activity reflects real customer trading relationships
Aggregate settlement data publicly reported
Deadline: 6 months from CIP approval
Weight Earned:
+0.5 per $2M equivalent of Canton Coin burned, up to +2.0 max
2. Regulated Settlement & Fiat On-Ramp (Pave Bank)
Description:
Deployment of Pave Bank’s regulated custody and commercial banking infrastructure as an off-chain settlement and fiat on-ramp layer for Canton.
Acceptance Criteria:
Successful minting and redemption of a CIP-0056-compliant asset
Live fiat connectivity enabling independent customer on-ramping
Aggregate settlement volumes publicly reported
Deadline: 12 months from CIP approval
Weight Earned:
+0.5 per $200M of CIP-0056 assets transferred by independent customers, up to +2.0 max
3. Sovereign Asset Origination & ADX Integration
Description:
Origination of Canton-native RWAs via Kaio with Zodia Custody, and structured integration work with Abu Dhabi Securities Exchange (ADX).
Acceptance Criteria:
Zodia configured as custodian for at least one Canton native asset originated by Kaio
Minimum $100M TVL held by customers (not issuer)
Publication of ADX x Canton feasibility paper and delivery of a live POC or issuance
Deadline: 12 months from CIP approval
Weight Earned:
+0.5 per $250M TVL, up to +2.0 max
4. Cross-Border Institutional Payments (Fuze)
Description:
Migration of Fuze’s cross-border institutional payment flows onto Canton, using Canton as the asset movement layer.
Acceptance Criteria:
Live Canton-based payments application
Regulated fiat on- and off-ramp for UAE institutions
Aggregate fee and volume data publicly reported
Deadline: 12 months from CIP approval
Weight Earned:
+0.5 per $2M in Canton Coin fees burned, up to +2.0 max
Reward Validation & Anti-Gaming Provisions
All burn, volume, and TVL metrics must be:
On-chain verifiable
Economically causal to application usage
Free from self-cycling or circular activity
Measurement uses TWAP pricing approved by the Tokenomics Working Group
Assets, issuers, and applications require prior Tokenomics Committee approval
Further is accountable for reporting, attribution, and auditability across its portfolio
Rationale for Weight 8.0
Further’s requested weight reflects its role as a regional aggregation layer, delivering multiple regulated workflows, sovereign-aligned asset origination, and sustained institutional transaction volume. The combined impact materially exceeds that of a single-application infrastructure provider while remaining fully contingent on measurable delivery.
SV Reward Mechanics
An extraBeneficiary PartyID associated with the 'escrowed' Super Validator will be set up by the Foundation, or another SV node operator approved to provide SV rewards escrow services, with an SV Weight at the maximum earnable weight.
The Applicant is responsible for coordinating the process of setting up the escrowed weights with the GSF and the operator of the SV node.
The Applicant is responsible for all costs associated with the operation of the escrow SV.
The escrow SV will NOT mint rewards on a block-by-block basis.
All escrow SV rewards will go to the Unclaimed Rewards pool.
⅔ of the Super Validator Operators will update their configurations to allow the escrowing SV node to host the full weight to be earned by the given Super Validator.
Applicant is required to present proof of successful completed milestones to the Tokenomics Working Group.
Applicant must present a calculation for the number of Canton Coin it should earn for meeting milestone requirements.
If the Tokenomics Working Group agrees the milestone has been met and approves the calculation, an announcement will be sent via the Tokenomics-Announce mailing list.
The GSF will update the extraBeneficiary to an active PartyID controlled by that Super Validator.
⅔ of Super Validator Operators will then assign a portion of the Unclaimed Rewards to be minted by the Applicant's Validator, based on the approved calculation.
If any milestones and associated rewards are not achieved by the deadline:
Applicant will be notified they have not met a deliverable by the GSF.
Remaining SV Weight assigned to the extraBeneficiary SV will be removed from the GSF node configuration, and the total SV weight of the GSF SV node will be reduced by the same amount by a vote of the Super Validators.
The Tokenomics Working Group will make a recommendation to the SVs on what to do with the Unclaimed Rewards.
Copyright
This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal.
Changelog
2026-02-11: Initial draft of the proposal
#2下津　龍生 Ryo Shimotsu12-02-2026source ↗

SBI would like to either sponsor or endorse this CIP.
#3Yiannis Varelas12-02-2026source ↗

Thanks Ryo-san.

Let's wait for feedback from the rest and we can sponsor/endorse between 5North and SBI.

Y.
toggle quoted message Show quoted text

On Thu, Feb 12, 2026 at 1:02 PM 下津　龍生 Ryo Shimotsu via lists.sync.global <rshimots=sbigroup.co.jp@...> wrote:
SBI would like to either sponsor or endorse this CIP.
#4Heslin Kim16-02-2026source ↗

Having spoken with Further at Abu Dhabi Finance Week and conducting due diligence on their regional standing, and with the entirety of the SV criteria based on performance-based metrics, Zenith is supportive of this proposal.
#5Alex Chen18-02-2026source ↗

Hi Yiannis, Further team, thanks for the submission.

Very cool to hear about all the participants looking to get involved as part of this draft CIP. We are generally supportive of the CIP and its various milestones, but there is one aspect that we think merits some additional discussion / consideration. As I've reviewed more activity-based CIPs, I believe there needs to be some universal standards to create long-term commitment after a CIP's initial deliverables are met and weight is unlocked.

In this instance, we could establish floor run-rates on the existing deliverables that need to be met to keep rewarded weight, and ideally peg them to be commensurate to future rewards.

Kind regards,

Alex

--

Cumberland
#6Yiannis Varelas18-02-2026source ↗

Hi Alex. Thanks for the support here; I would love to see Cumberland
endorsing/sponsoring along with the others who expressed interest.

What you wrote about floor-run rates and how this can become a
universal standard for activity-based CIPs
resonates with me. This can help avoid one-off developments that yield
perpetual rewards, especially
since these are SVs. If we plan to do something like this, it needs
standardization
across all activity-based CIPs and will make the
submission/review/audit much easier.

I want to better understand the technical implementation. Are you thinking of
A % of weight/rewards being "blocked" if the activity in the months
following the completion
of the CIP if it doesn't keep up with the initial activity?

I sense we will need to implement a dynamic weight lock/unlock mechanism if we
want this to be fully programmatic. Or we can just leave it with the
accountability committee
which can check SVs and how they perform on their CIP (this is what we
formed it for actually).

I believe Eric W also has some input here.

Y.

On Wed, Feb 18, 2026 at 7:53 AM Alex Chen via lists.sync.global
<alechen=cumberland.io@...> wrote:

Hi Yiannis, Further team, thanks for the submission.

Very cool to hear about all the participants looking to get involved as part of this draft CIP. We are generally supportive of the CIP and its various milestones, but there is one aspect that we think merits some additional discussion / consideration. As I've reviewed more activity-based CIPs, I believe there needs to be some universal standards to create long-term commitment after a CIP's initial deliverables are met and weight is unlocked.

In this instance, we could establish floor run-rates on the existing deliverables that need to be met to keep rewarded weight, and ideally peg them to be commensurate to future rewards.

Kind regards,
Alex

--
Cumberland
#7Yiannis Varelas24-02-2026source ↗

Hi all,

A relevant update to this CIP:

I responded to QCPs SV proposal with an approach that we believe addresses
the concerts for this proposal as well.

Since they are both on the same spirit, I encourage everyone to also read my
response here so I don't double post and we keep feedback on the spirit
in one thread.

If we come to an agreement, we can amend both CIPs to follow the same pattern.

https://lists.sync.global/g/cip-discuss/message/587

Y.

#8Yiannis Varelas02-03-2026source ↗

Hi all,

After discussing with Further about the new format we want to follow for the
app-based SV proposals, I'm posting here the updated version that incorporates
the high water mark framework and also switches to a hybrid reward structure.

Key Updates:

Hybrid Reward Structure: Moved from a purely volume-based model to a hybrid "Base + Performance" model. We now distinguish between Infrastructure Weight (+2.0 total) for successful application go-lives and Performance Weight (+6.0 total) tied to burn and TVL.
Tiered Weight Tranches: Each of the four portfolio companies (BridgePort, Pave Bank, Kaio, and Fuze) now earns weight in +0.5 increments, allowing for granular validation of progress rather than "all-or-nothing" milestones.
High Water Mark & Sustainment: Introduced a 3-year "Sustainment Period" for all activity-based weight. If rolling 2-quarter metrics drop by >50% relative to the "Reference Rate" used to earn the weight, the Accountability Committee may proportionally reduce that weight tranche.
Escrow Protections: Clarified the use of the extraBeneficiary PartyID. The 8.0 weight remains in an escrow state and does not mint rewards until specific on-chain milestones are verified by this group.
Anti-Gaming Rigor: Explicitly excluded "self-cycling" or wash-trading activity from eligible metrics, requiring all volume to be economically causal to real customer usage.

CIP-00xx

Title: Add Further Asset Management as a Super Validator (Weight 8.0)

Author: Yiannis Varelas

Status: Draft

Type: Governance

Created: 2025-11-26

License: CC0-1.0

Abstract

This proposal seeks to add Further Asset Management (“Further”) as a Super Validator (SV) on the Canton Network with a maximum reward weight of 8.0, earned exclusively through milestone-based delivery and sustained economic activity.

Further operates an integrated investment and infrastructure platform spanning venture, liquid strategies, and regulated financial services. Through its portfolio companies and institutional partnerships, Further will act as a regional aggregation layer for the GCC, onboarding sovereign-aligned capital, regulated settlement workflows, and real-world assets onto the Canton Global Synchronizer.

About Further Asset Management

Further Asset Management is an investment and infrastructure platform operating across the UAE and broader GCC region. Its portfolio includes regulated settlement, custody, payments, and asset origination entities, including BridgePort, Pave Bank, Kaio, and Fuze.

Further is strategically aligned with the Abu Dhabi ecosystem and supported by sovereign-linked capital. As an SV, Further’s role is to coordinate and deliver institutional-grade applications that generate sustained, customer-driven Canton Network activity.

Deliverables for SV Reward (Weight 8.0)

Deliverable	Acceptance Criteria	Deadline	Weight Earned
Atomic Off-Exchange Settlement (BridgePort)	BridgePort manages all margin settlements via its Canton application on MainNet. Activity reflects real customer trading relationships. Aggregate settlement data publicly reported.	6 months from CIP approval	+0.5 (Go-live) +1.5 (Burn)
Regulated Settlement & Fiat On-Ramp (Pave Bank)	Successful minting and redemption of a CIP-0056-compliant asset. Live fiat connectivity enabling independent customer on-ramping. Aggregate settlement volumes publicly reported.	12 months from CIP approval	+0.5 (Connectivity) +1.5 (Volume)
Sovereign Asset Origination & ADX Integration (Kaio)	Zodia configured as custodian for at least one Canton native asset originated by Kaio. Minimum $100M TVL held by customers. Publication of ADX x Canton feasibility paper and delivery of a live POC or issuance.	12 months from CIP approval	+0.5 (POC) +1.5 (TVL)
Cross-Border Institutional Payments (Fuze)	Live Canton-based payments application. Regulated fiat on- and off-ramp for UAE institutions. Aggregate fee and volume data publicly reported.	12 months from CIP approval	+0.5 (Go-live) +1.5 (Fees)

Total Maximum Earnable Weight: 8.0

Eligible Activity & Sustainment Criteria

Application-Driven Economic Activity (Burn, Volume, and TVL)

Weight Allocation:

Incremental reward weight (+0.5 per tranche) up to a maximum of +6.0 weight across all activity categories (Burn, Volume, TVL).

Eligible Activity Criteria (ALL must be met):

Application-Scoped Activity: Metrics must result directly from transactions executed within, or triggered by, Further-portfolio Canton applications (BridgePort, Pave Bank, Kaio, Fuze).
On-Chain Verifiability: All activity, burns, and asset balances must be recorded on-chain and publicly verifiable.
Economic Causality Requirement: Metrics must be the necessary economic consequence of application usage, not discretionary or artificially induced.
Counterparty-Inclusive Attribution: Metrics may include activity generated by Application users and Third-party counterparties materially enabled by the Applicant.

Sustainment Requirement (High Water Mark Activity):

Any weight earned via activity-based milestones (6.0 total) is subject to a 3-year sustainment requirement from each tranche approval to ensure "High Water Mark" activity is maintained:

Sustainment Period: 3 years from each tranche approval.
Drop in Activity Definition: A >50% decline in rolling 2-quarter average eligible activity (Burn, Volume, or TVL USD equivalent) relative to the reference rate at the time of the award.
Remediation: If the decline persists for 2 consecutive quarters, the Accountability Committee reserves the right to apply a proportional weight reduction.
Exclusions: Infrastructure-based weight (+2.0 total for app go-lives, connectivity, and POCs) is not subject to clawback. No additional penalty beyond the activity-based portion.

Anti-Gaming & Double-Counting Protections

Metrics may not be counted more than once across milestones or CIPs.
Self-cycling, wash activity, or economically circular transactions intended primarily to generate volume/burn are explicitly excluded.
The Tokenomics Working Group retains discretion to exclude activity deemed non-economic or manipulative.

Measurement & Reporting

Activity measurement will be calculated using the time-weighted average USD price (TWAP) of Canton Coin or relevant assets over the settlement window, using a price source approved by the Tokenomics Working Group.

The Applicant must submit a detailed activity report including:

Transaction hashes / On-chain asset proofs
Application identifiers
Burn/Volume/TVL amounts
Price calculation methodology

Validation & Approval

Each incremental weight tranche requires Tokenomics Working Group validation.
Upon approval, standard escrow SV reward mechanics apply.

SV Reward Mechanics

An extraBeneficiary PartyID tied to an escrowed Super Validator will be configured with the full maximum weight (8.0).
Further is responsible for all costs for operating the escrow SV.
The escrow SV does not mint rewards per block; all rewards accrue to the Unclaimed Rewards Pool.
Upon milestone completion, Further will present proof of completion and calculations to the Tokenomics Working Group.
If approved, the GSF updates the extraBeneficiary to Further’s PartyID for the earned portion.
⅔ of active Super Validator Operators will assign the approved reward portion to Further’s Validator.

Failure to deliver milestones:

Further will be notified of missed deliverables.
Remaining unearned weight is removed from the escrow SV.

Motivation

Further’s requested weight reflects its role as a regional aggregation layer, delivering multiple regulated workflows, sovereign-aligned asset origination, and sustained institutional transaction volume. The combined impact materially exceeds that of a single-application infrastructure provider while remaining fully contingent on measurable delivery. By tying SV weight to sustained economic gravity via the High Water Mark requirement, this proposal ensures Further's contribution remains significant and ongoing, shifting the regional network from pilot into deep institutional flow.

Copyright

This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal.

#9Eric Saraniecki02-03-2026source ↗

thanks Yiannis - this makes sense similar to the QCP one

In the revised CIP we seem to have lost some specificity on the milestones, if you can pull back in the langauge from the original proposal and add in the new framework, id be happy to sponsor this proposal

On Mon, Mar 2, 2026 at 11:54 AM Yiannis Varelas via lists.sync.global <y=fivenorth.io@...> wrote:

Hi all,

After discussing with Further about the new format we want to follow for the
app-based SV proposals, I'm posting here the updated version that incorporates
the high water mark framework and also switches to a hybrid reward structure.

Key Updates:

Hybrid Reward Structure: Moved from a purely volume-based model to a hybrid "Base + Performance" model. We now distinguish between Infrastructure Weight (+2.0 total) for successful application go-lives and Performance Weight (+6.0 total) tied to burn and TVL.

Tiered Weight Tranches: Each of the four portfolio companies (BridgePort, Pave Bank, Kaio, and Fuze) now earns weight in +0.5 increments, allowing for granular validation of progress rather than "all-or-nothing" milestones.

High Water Mark & Sustainment: Introduced a 3-year "Sustainment Period" for all activity-based weight. If rolling 2-quarter metrics drop by >50% relative to the "Reference Rate" used to earn the weight, the Accountability Committee may proportionally reduce that weight tranche.

Escrow Protections: Clarified the use of the extraBeneficiary PartyID. The 8.0 weight remains in an escrow state and does not mint rewards until specific on-chain milestones are verified by this group.

Anti-Gaming Rigor: Explicitly excluded "self-cycling" or wash-trading activity from eligible metrics, requiring all volume to be economically causal to real customer usage.

CIP-00xx

Title: Add Further Asset Management as a Super Validator (Weight 8.0)

Author: Yiannis Varelas

Status: Draft

Type: Governance

Created: 2025-11-26

License: CC0-1.0

Abstract

This proposal seeks to add Further Asset Management (“Further”) as a Super Validator (SV) on the Canton Network with a maximum reward weight of 8.0, earned exclusively through milestone-based delivery and sustained economic activity.

Further operates an integrated investment and infrastructure platform spanning venture, liquid strategies, and regulated financial services. Through its portfolio companies and institutional partnerships, Further will act as a regional aggregation layer for the GCC, onboarding sovereign-aligned capital, regulated settlement workflows, and real-world assets onto the Canton Global Synchronizer.

About Further Asset Management

Further Asset Management is an investment and infrastructure platform operating across the UAE and broader GCC region. Its portfolio includes regulated settlement, custody, payments, and asset origination entities, including BridgePort, Pave Bank, Kaio, and Fuze.

Further is strategically aligned with the Abu Dhabi ecosystem and supported by sovereign-linked capital. As an SV, Further’s role is to coordinate and deliver institutional-grade applications that generate sustained, customer-driven Canton Network activity.

Deliverables for SV Reward (Weight 8.0)

Deliverable Acceptance Criteria Deadline Weight Earned

Atomic Off-Exchange Settlement (BridgePort) BridgePort manages all margin settlements via its Canton application on MainNet. Activity reflects real customer trading relationships. Aggregate settlement data publicly reported. 6 months from CIP approval +0.5 (Go-live) +1.5 (Burn)

Regulated Settlement & Fiat On-Ramp (Pave Bank) Successful minting and redemption of a CIP-0056-compliant asset. Live fiat connectivity enabling independent customer on-ramping. Aggregate settlement volumes publicly reported. 12 months from CIP approval +0.5 (Connectivity) +1.5 (Volume)

Sovereign Asset Origination & ADX Integration (Kaio) Zodia configured as custodian for at least one Canton native asset originated by Kaio. Minimum $100M TVL held by customers. Publication of ADX x Canton feasibility paper and delivery of a live POC or issuance. 12 months from CIP approval +0.5 (POC) +1.5 (TVL)

Cross-Border Institutional Payments (Fuze) Live Canton-based payments application. Regulated fiat on- and off-ramp for UAE institutions. Aggregate fee and volume data publicly reported. 12 months from CIP approval +0.5 (Go-live) +1.5 (Fees)

Total Maximum Earnable Weight: 8.0

Eligible Activity & Sustainment Criteria

Application-Driven Economic Activity (Burn, Volume, and TVL)

Weight Allocation:

Incremental reward weight (+0.5 per tranche) up to a maximum of +6.0 weight across all activity categories (Burn, Volume, TVL).

Eligible Activity Criteria (ALL must be met):

Application-Scoped Activity: Metrics must result directly from transactions executed within, or triggered by, Further-portfolio Canton applications (BridgePort, Pave Bank, Kaio, Fuze).

On-Chain Verifiability: All activity, burns, and asset balances must be recorded on-chain and publicly verifiable.

Economic Causality Requirement: Metrics must be the necessary economic consequence of application usage, not discretionary or artificially induced.

Counterparty-Inclusive Attribution: Metrics may include activity generated by Application users and Third-party counterparties materially enabled by the Applicant.

Sustainment Requirement (High Water Mark Activity):

Any weight earned via activity-based milestones (6.0 total) is subject to a 3-year sustainment requirement from each tranche approval to ensure "High Water Mark" activity is maintained:

Sustainment Period: 3 years from each tranche approval.

Drop in Activity Definition: A >50% decline in rolling 2-quarter average eligible activity (Burn, Volume, or TVL USD equivalent) relative to the reference rate at the time of the award.

Remediation: If the decline persists for 2 consecutive quarters, the Accountability Committee reserves the right to apply a proportional weight reduction.

Exclusions: Infrastructure-based weight (+2.0 total for app go-lives, connectivity, and POCs) is not subject to clawback. No additional penalty beyond the activity-based portion.

Anti-Gaming & Double-Counting Protections

Metrics may not be counted more than once across milestones or CIPs.

Self-cycling, wash activity, or economically circular transactions intended primarily to generate volume/burn are explicitly excluded.

The Tokenomics Working Group retains discretion to exclude activity deemed non-economic or manipulative.

Measurement & Reporting

Activity measurement will be calculated using the time-weighted average USD price (TWAP) of Canton Coin or relevant assets over the settlement window, using a price source approved by the Tokenomics Working Group.

The Applicant must submit a detailed activity report including:

Transaction hashes / On-chain asset proofs

Application identifiers

Burn/Volume/TVL amounts

Price calculation methodology

Validation & Approval

Each incremental weight tranche requires Tokenomics Working Group validation.

Upon approval, standard escrow SV reward mechanics apply.

SV Reward Mechanics

An extraBeneficiary PartyID tied to an escrowed Super Validator will be configured with the full maximum weight (8.0).

Further is responsible for all costs for operating the escrow SV.

The escrow SV does not mint rewards per block; all rewards accrue to the Unclaimed Rewards Pool.

Upon milestone completion, Further will present proof of completion and calculations to the Tokenomics Working Group.

If approved, the GSF updates the extraBeneficiary to Further’s PartyID for the earned portion.

⅔ of active Super Validator Operators will assign the approved reward portion to Further’s Validator.

Failure to deliver milestones:

Further will be notified of missed deliverables.

Remaining unearned weight is removed from the escrow SV.

Motivation

Further’s requested weight reflects its role as a regional aggregation layer, delivering multiple regulated workflows, sovereign-aligned asset origination, and sustained institutional transaction volume. The combined impact materially exceeds that of a single-application infrastructure provider while remaining fully contingent on measurable delivery. By tying SV weight to sustained economic gravity via the High Water Mark requirement, this proposal ensures Further's contribution remains significant and ongoing, shifting the regional network from pilot into deep institutional flow.

Copyright

This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal.

Deliverable	Acceptance Criteria	Deadline	Weight Earned
Atomic Off-Exchange Settlement (BridgePort)	BridgePort manages all margin settlements via its Canton application on MainNet. Activity reflects real customer trading relationships. Aggregate settlement data publicly reported.	6 months from CIP approval	+0.5 (Go-live) +1.5 (Burn)
Regulated Settlement & Fiat On-Ramp (Pave Bank)	Successful minting and redemption of a CIP-0056-compliant asset. Live fiat connectivity enabling independent customer on-ramping. Aggregate settlement volumes publicly reported.	12 months from CIP approval	+0.5 (Connectivity) +1.5 (Volume)
Sovereign Asset Origination & ADX Integration (Kaio)	Zodia configured as custodian for at least one Canton native asset originated by Kaio. Minimum $100M TVL held by customers. Publication of ADX x Canton feasibility paper and delivery of a live POC or issuance.	12 months from CIP approval	+0.5 (POC) +1.5 (TVL)
Cross-Border Institutional Payments (Fuze)	Live Canton-based payments application. Regulated fiat on- and off-ramp for UAE institutions. Aggregate fee and volume data publicly reported.	12 months from CIP approval	+0.5 (Go-live) +1.5 (Fees)

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#10Yiannis Varelas02-03-2026source ↗
Eric, thanks for flagging this. I'm reposting here using the original language and format
to make it easier to compare.

Title: Add Further Asset Management as a Super Validator (Weight 8.0)
Author: Yiannis Varelas
Status: Draft
Type: Governance
Created: 2025-11-26
License: CC0-1.0

Abstract

This proposal seeks to add Further Asset Management (“Further”) as a Super Validator (SV) on the Canton Network with a maximum reward weight of 8.0, earned exclusively through milestone-based delivery.

Further operates an integrated investment and infrastructure platform spanning venture, liquid strategies, and regulated financial services. Through its portfolio companies and institutional partnerships, Further will act as a regional aggregation layer for the GCC, onboarding sovereign-aligned capital, regulated settlement workflows, and real-world assets onto the Canton Global Synchronizer.

About the Applicant

Further Asset Management is an investment and infrastructure platform operating across the UAE and broader GCC region. Its portfolio includes regulated settlement, custody, payments, and asset origination entities, including BridgePort, Pave Bank, Kaio, and Fuze.

Further is strategically aligned with the Abu Dhabi ecosystem and supported by sovereign-linked capital. As an SV, Further’s role is to coordinate and deliver institutional-grade applications that generate sustained, customer-driven Canton Network activity.

Deliverables for SV Reward (Total Maximum Weight: 8.0)

1. Atomic Off-Exchange Settlement (BridgePort)

Description:
Migration of BridgePort’s real-time variation margin settlement and margin financing workflows onto Canton MainNet.

Acceptance Criteria:

BridgePort manages all margin settlements via its Canton application on MainNet

Activity reflects real customer trading relationships

Aggregate settlement data publicly reported

Deadline: 6 months from CIP approval

Weight Earned:

+0.5 Go-Live
+0.5 per $2M equivalent of Canton Coin burned, up to +1.5 max

2. Regulated Settlement & Fiat On-Ramp (Pave Bank)

Description:
Deployment of Pave Bank’s regulated custody and commercial banking infrastructure as an off-chain settlement and fiat on-ramp layer for Canton.

Acceptance Criteria:

Successful minting and redemption of a CIP-0056-compliant asset

Live fiat connectivity enabling independent customer on-ramping

Aggregate settlement volumes publicly reported

Deadline: 12 months from CIP approval

Weight Earned:

+0.5 connectivity
+0.5 per $200M of CIP-0056 assets transferred by independent customers, up to +1.5 max

3. Sovereign Asset Origination & ADX Integration

Description:
Origination of Canton-native RWAs via Kaio with Zodia Custody, and structured integration work with Abu Dhabi Securities Exchange (ADX).

Acceptance Criteria:

Zodia configured as custodian for at least one Canton native asset originated by Kaio

Minimum $100M TVL held by customers (not issuer)

Publication of ADX x Canton feasibility paper and delivery of a live POC or issuance

Deadline: 12 months from CIP approval

Weight Earned:

+0.5 POC
+0.5 per $250M TVL, up to +1.5 max

4. Cross-Border Institutional Payments (Fuze)

Description:
Migration of Fuze’s cross-border institutional payment flows onto Canton, using Canton as the asset movement layer.

Acceptance Criteria:

Live Canton-based payments application

Regulated fiat on- and off-ramp for UAE institutions

Aggregate fee and volume data publicly reported

Deadline: 12 months from CIP approval

Weight Earned:

+0.5 Go-Live
+0.5 per $2M in Canton Coin fees burned, up to +1.5 max

Eligible Activity & Sustainment Criteria

Application-Driven Economic Activity (Burn, Volume, and TVL)

Weight Allocation:

Incremental reward weight (+0.5 per tranche) up to a maximum of +6.0 weight across all activity categories (Burn, Volume, TVL).

Eligible Activity Criteria (ALL must be met):

Application-Scoped Activity: Metrics must result directly from transactions executed within, or triggered by, Further-portfolio Canton applications (BridgePort, Pave Bank, Kaio, Fuze).

On-Chain Verifiability: All activity, burns, and asset balances must be recorded on-chain and publicly verifiable.

Economic Causality Requirement: Metrics must be the necessary economic consequence of application usage, not discretionary or artificially induced.

Counterparty-Inclusive Attribution: Metrics may include activity generated by Application users and Third-party counterparties materially enabled by the Applicant.

Sustainment Requirement (High Water Mark Activity):

Any weight earned via activity-based milestones (6.0 total) is subject to a 3-year sustainment requirement from each tranche approval to ensure "High Water Mark" activity is maintained:

Sustainment Period: 3 years from each tranche approval.

Drop in Activity Definition: A >50% decline in rolling 2-quarter average eligible activity (Burn, Volume, or TVL USD equivalent) relative to the reference rate at the time of the award.

Remediation: If the decline persists for 2 consecutive quarters, the Accountability Committee reserves the right to apply a proportional weight reduction.

Exclusions: Infrastructure-based weight (+2.0 total for app go-lives, connectivity, and POCs) is not subject to clawback. No additional penalty beyond the activity-based portion.

Anti-Gaming & Double-Counting Protections

Metrics may not be counted more than once across milestones or CIPs.

Self-cycling, wash activity, or economically circular transactions intended primarily to generate volume/burn are explicitly excluded.

The Tokenomics Working Group retains discretion to exclude activity deemed non-economic or manipulative.

Measurement & Reporting

Activity measurement will be calculated using the time-weighted average USD price (TWAP) of Canton Coin or relevant assets over the settlement window, using a price source approved by the Tokenomics Working Group.

The Applicant must submit a detailed activity report including:

Transaction hashes / On-chain asset proofs

Application identifiers

Burn/Volume/TVL amounts

Price calculation methodology

Each incremental weight tranche requires Tokenomics Working Group validation.

Upon approval, standard escrow SV reward mechanics apply.

SV Reward Mechanics

An extraBeneficiary PartyID tied to an escrowed Super Validator will be configured with the full maximum weight (8.0).

Further is responsible for all costs for operating the escrow SV.

The escrow SV does not mint rewards per block; all rewards accrue to the Unclaimed Rewards Pool.

Upon milestone completion, Further will present proof of completion and calculations to the Tokenomics Working Group.

If approved, the GSF updates the extraBeneficiary to Further’s PartyID for the earned portion.

⅔ of active Super Validator Operators will assign the approved reward portion to Further’s Validator.

Failure to deliver milestones:

Further will be notified of missed deliverables.

Remaining unearned weight is removed from the escrow SV.

Motivation

Further’s requested weight reflects its role as a regional aggregation layer, delivering multiple regulated workflows, sovereign-aligned asset origination, and sustained institutional transaction volume. The combined impact materially exceeds that of a single-application infrastructure provider while remaining fully contingent on measurable delivery. By tying SV weight to sustained economic gravity via the High Water Mark requirement, this proposal ensures Further's contribution remains significant and ongoing, shifting the regional network from pilot into deep institutional flow.

Copyright

This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal.
#11Alex Chen02-03-2026source ↗
Thanks for the update, Yiannis. To echo Chris' comments on the QCP proposal in cip-vote, we have some thoughts on the Eligible Burn & Sustainment Criteria:
- Eligible Burn Criteria: We think this is vague in ways that can lead to confusion / disagreement when milestones and ongoing commitments are reviewed. As we've learned, it's best to clarify any points that could be interpreted multiple ways at time of CIP rather than afterwards.
  - The inclusion of 3rd party CP burn can create a situation where two parties, both with CIPs that are activity-based (e.g., volume, burn), claim the same activity for their own respective milestones. For instance, two SVs conduct a bi-lateral derivatives trade with frequent margin management leading to burn. The same could be said for SVs that have deployed apps where another SV is a participant in that app. We don't believe double counting is appropriate but we also recognize why attributing burn via a 3rd party app could be in scope. High level, we believe burn should be attributed pro-rata to the relevant parties.
  - We believe that eligible burn or general activity should be specifically done by Further / its affiliates (i.e., portfolio companies) or the "Proposer" of the CIP and conducted from a list of owned addresses provided by the Proposer to the Accountability Committee to track the milestone metrics to. Where the burn is conducted from a 3rd party address, we are open to including it provided it could be definitively allocated to a party once (even if only a pro-rata portion).
- Sustainment Requirement:
  - Because the milestone criteria is approved on a point-in-time aggregate activity snapshot rather than a rate of change, we would like to specify the terminology and calculation. To be specific, the "reference rate" would be defined as the per 2-quarter rate of proposed activity, calculated as:
    
    reference rate = ( aggregate milestone acceptance criteria activity amount ) / ( milestone approval date - CIP approval date )
  - I also believe that the sustainment period should live in perpetuity, rather than be cut off at 3-years, to align with the duration of the SV grant.
Happy to discuss any of the above!

Kind regards,

Alex

--

Cumberland

#12Amanda Martin24-03-2026source ↗

Please see the updated CIP below.

CIP-00xx

Title: Add Further Asset Management as a Super Validator (Weight 8.0)

Author: Yiannis Varelas

Status: Draft

Type: Governance

Created: 2025-11-26

Updated: 2026-03-03

License: CC0-1.0

Abstract

This proposal seeks to add Further Asset Management (“Further”) as a Super Validator (SV) on the Canton Network with a maximum reward weight of 8.0, earned through milestone-based delivery and perpetual economic sustainment. Further will act as a regional aggregation layer for the GCC, onboarding sovereign-aligned capital and regulated settlement workflows via its portfolio companies (BridgePort, Pave Bank, Kaio, and Fuze).

About Further Asset Management

Further is an investment and infrastructure platform operating across the UAE and broader GCC region. As an SV, Further’s role is to coordinate and deliver institutional-grade applications that generate sustained, customer-driven Canton Network activity.

Deliverables for SV Reward (Weight 8.0)

Deliverable	Acceptance Criteria	Deadline	Weight Earned
Atomic Off-Exchange Settlement (BridgePort)	Margin financing app go-live; activity reflects real customer trading.	6 months	+0.5 (Infra) +1.5 (Burn)
Regulated Settlement & Fiat On-Ramp (Pave Bank)	Successful CIP-0056 asset mint/redeem; live fiat connectivity.	12 months	+0.5 (Infra) +1.5 (Volume)
Sovereign Asset Origination & ADX Integration (Kaio)	Zodia integration; $100M+ customer TVL; ADX POC/Issuance.	12 months	+0.5 (Infra) +1.5 (TVL)
Cross-Border Institutional Payments (Fuze)	Live payments app; regulated UAE fiat on/off-ramp.	12 months	+0.5 (Infra) +1.5 (Fees)

Total Maximum Earnable Weight: 8.0

Eligible Activity & Sustainment Criteria

1. Eligible Activity & Pro-Rata Attribution

To ensure accountability and prevent double-counting across the ecosystem:

Owned Address Registry: Further must provide a registry of owned/controlled addresses for its portfolio entities to the Accountability Committee.
Pro-Rata Attribution: For activity involving third-party participants or other SVs, attribution will be applied pro-rata — except where Further owns and operates the application generating the activity. For Further’s owned applications (BridgePort and Fuze), Further may count 100% of eligible burn activity generated through those applications toward its milestone thresholds, regardless of whether a third-party transaction participant also claims the same activity under a separate CIP.
Economic Causality: Metrics must be a necessary consequence of application usage, not discretionary or artificially induced.

2. Perpetual Sustainment Requirement (High Water Mark)

Weight earned via activity-based milestones (+6.0 max) is subject to a perpetual sustainment requirement to align with the ongoing nature of SV rewards.

Reference Rate Calculation: For each tranche, the "Reference Rate" is the per-2-quarter rate of activity required for approval:
Drop in Activity Definition: A >50% decline in the rolling 2-quarter average eligible activity (Burn, Volume, or TVL) relative to the Reference Rate.
Weight Re-Earn: Following a weight reduction under the Remediation provision, Further may re-earn the reduced weight by restoring eligible activity above the applicable Reference Rate. The re-earn window for each tranche equals the original milestone deadline for that tranche (e.g., 12 months for a 12-month milestone). The 6-month cure/remediation period during which the drop in activity is assessed counts as part of this re-earn window — leaving the remainder of the original milestone period (e.g., 6 months) as the active re-earn period following any weight reduction. Re-earn is assessed on a per-tranche basis. Infrastructure-based weight (+2.0 total) remains excluded from this provision.
Remediation: If the decline persists for 2 consecutive quarters, the Accountability Committee reserves the right to apply a proportional weight reduction.
Exclusions: Infrastructure-based weight (+2.0 total) is not subject to clawback.

Anti-Gaming & Double-Counting Protections

Self-cycling, wash activity, or circular transactions are explicitly excluded.
The Tokenomics Working Group retains discretion to exclude activity deemed non-economic.

Measurement & Reporting

Further must submit a quarterly Regional Activity Report detailing:

Transaction hashes and asset proofs across all portfolio entities.
Attribution breakdown (Owned vs. Pro-rata 3rd Party).
Current 2-quarter averages vs. established Reference Rates.

SV Reward Mechanics

An extraBeneficiary PartyID will be configured in escrow with the full 8.0 weight.
Upon milestone completion, Further presents proof to the Tokenomics Working Group.
If approved, the GSF updates the extraBeneficiary to Further’s PartyID for the earned portion.
Failure to maintain Reference Rates allows the Accountability Committee to recommend weight removal.

Motivation

Further’s role as a regional aggregator delivers a unique multiplier effect to the Canton Network. By implementing perpetual sustainment and pro-rata attribution, this CIP ensures that Further’s weight remains a transparent, accurate, and long-term reflection of the actual institutional flow they maintain within the GCC region.

Copyright

This CIP is licensed under CC0-1.0.

#13Amanda Martin25-03-2026source ↗

Please see below with an updated table

CIP-00xx

Title: Add Further Asset Management as a Super Validator (Weight 8.0)

Author: Yiannis Varelas

Status: Draft

Type: Governance

Created: 2025-11-26

Updated: 2026-03-03

License: CC0-1.0

Abstract

About Further Asset Management

Deliverables for SV Reward (Weight 8.0)

Deliverable	Acceptance Criteria	Deadline	Weight Earned
Atomic Off-Exchange Settlement (BridgePort)	Margin financing app go-live; activity reflects real customer trading.	6 months	+0.5 (Infra) +0.5 per $2M equivalent of Canton Coin burned, up to +1.5 max
Regulated Settlement & Fiat On-Ramp (Pave Bank)	Successful CIP-0056 asset mint/redeem; live fiat connectivity.	12 months	+0.5 (Infra) +0.5 per $200M of CIP-0056 assets transferred by independent customers, up to +1.5 max
Sovereign Asset Origination & ADX Integration (Kaio)	Zodia integration; $100M+ customer TVL; ADX POC/Issuance.	12 months	+0.5 (Infra) +0.5 per $250M TVL, up to +1.5 max
Cross-Border Institutional Payments (Fuze)	Live payments app; regulated UAE fiat on/off-ramp.	12 months	+0.5 (Infra) +0.5 per $2M in Canton Coin fees burned, up to +1.5 max

Total Maximum Earnable Weight: 8.0

Eligible Activity & Sustainment Criteria

1. Eligible Activity & Pro-Rata Attribution

To ensure accountability and prevent double-counting across the ecosystem:

Owned Address Registry: Further must provide a registry of owned/controlled addresses for its portfolio entities to the Accountability Committee.
Pro-Rata Attribution: For activity involving third-party participants or other SVs, attribution will be applied pro-rata — except where Further owns and operates the application generating the activity. For Further’s owned applications (BridgePort and Fuze), Further may count 100% of eligible burn activity generated through those applications toward its milestone thresholds, regardless of whether a third-party transaction participant also claims the same activity under a separate CIP.
Economic Causality: Metrics must be a necessary consequence of application usage, not discretionary or artificially induced.

2. Perpetual Sustainment Requirement (High Water Mark)

Weight earned via activity-based milestones (+6.0 max) is subject to a perpetual sustainment requirement to align with the ongoing nature of SV rewards.

Reference Rate Calculation: For each tranche, the "Reference Rate" is the per-2-quarter rate of activity required for approval:
Drop in Activity Definition: A >50% decline in the rolling 2-quarter average eligible activity (Burn, Volume, or TVL) relative to the Reference Rate.
Weight Re-Earn: Following a weight reduction under the Remediation provision, Further may re-earn the reduced weight by restoring eligible activity above the applicable Reference Rate. The re-earn window for each tranche equals the original milestone deadline for that tranche (e.g., 12 months for a 12-month milestone). The 6-month cure/remediation period during which the drop in activity is assessed counts as part of this re-earn window — leaving the remainder of the original milestone period (e.g., 6 months) as the active re-earn period following any weight reduction. Re-earn is assessed on a per-tranche basis. Infrastructure-based weight (+2.0 total) remains excluded from this provision.
Remediation: If the decline persists for 2 consecutive quarters, the Accountability Committee reserves the right to apply a proportional weight reduction.
Exclusions: Infrastructure-based weight (+2.0 total) is not subject to clawback.

Anti-Gaming & Double-Counting Protections

Self-cycling, wash activity, or circular transactions are explicitly excluded.
The Tokenomics Working Group retains discretion to exclude activity deemed non-economic.

Measurement & Reporting

Further must submit a quarterly Regional Activity Report detailing:

Transaction hashes and asset proofs across all portfolio entities.
Attribution breakdown (Owned vs. Pro-rata 3rd Party).
Current 2-quarter averages vs. established Reference Rates.

SV Reward Mechanics

An extraBeneficiary PartyID will be configured in escrow with the full 8.0 weight.
Upon milestone completion, Further presents proof to the Tokenomics Working Group.
If approved, the GSF updates the extraBeneficiary to Further’s PartyID for the earned portion.
Failure to maintain Reference Rates allows the Accountability Committee to recommend weight removal.

Motivation

Copyright

This CIP is licensed under CC0-1.0.

#14下津　龍生 Ryo Shimotsu30-03-2026source ↗

Thank you all for putting these together.

SBI would like to sponsor/endorse this CIP.

Ryo Shimotsu

SBI

CIP-0113: Add Further Asset Management as a Super Validator (Weight 8.0) - Yiannis Varelas

Abstract

About the Applicant

Deliverables for SV Reward (Total Maximum Weight: 8.0)

1. Atomic Off-Exchange Settlement (BridgePort)

2. Regulated Settlement & Fiat On-Ramp (Pave Bank)

3. Sovereign Asset Origination & ADX Integration

4. Cross-Border Institutional Payments (Fuze)

Reward Validation & Anti-Gaming Provisions

Rationale for Weight 8.0

SV Reward Mechanics

Copyright

This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal.

Changelog

2026-02-11: Initial draft of the proposal

Abstract

About Further Asset Management

Deliverables for SV Reward (Weight 8.0)

Eligible Activity & Sustainment Criteria

Anti-Gaming & Double-Counting Protections

Measurement & Reporting

Validation & Approval

SV Reward Mechanics

Motivation

Copyright

Abstract

About Further Asset Management

Deliverables for SV Reward (Weight 8.0)

Eligible Activity & Sustainment Criteria

Anti-Gaming & Double-Counting Protections

Measurement & Reporting

Validation & Approval

SV Reward Mechanics

Motivation

Copyright

Abstract

About the Applicant

Deliverables for SV Reward (Total Maximum Weight: 8.0)

1. Atomic Off-Exchange Settlement (BridgePort)

2. Regulated Settlement & Fiat On-Ramp (Pave Bank)

3. Sovereign Asset Origination & ADX Integration

4. Cross-Border Institutional Payments (Fuze)

Eligible Activity & Sustainment Criteria

Anti-Gaming & Double-Counting Protections

Measurement & Reporting

SV Reward Mechanics

Motivation

Copyright

Abstract

About Further Asset Management

Deliverables for SV Reward (Weight 8.0)

Eligible Activity & Sustainment Criteria

Anti-Gaming & Double-Counting Protections

Measurement & Reporting

SV Reward Mechanics

Motivation

Copyright

Abstract

About Further Asset Management

Deliverables for SV Reward (Weight 8.0)

Eligible Activity & Sustainment Criteria

Anti-Gaming & Double-Counting Protections

Measurement & Reporting

SV Reward Mechanics

Motivation

Copyright