Forward Clips (ERC-1155)

Forward Clips

Forward Clips are tokens following the ERC-1155 standard. They reflect the delivery rights to underlying assets. Forward Clips are characterized by the following information on-chain:

• Clip ID

• Project ID

• Supply Partner ID

• Basket

• Amount

• Vintage

• Delivery date

Issuance of Forward Clips

The Solid World governance process involves an Expert Council, which has the responsibility to allow supply onto the Protocol based on previous rulings about the Project in question, the acceptance of the Supply Partner as valid (both described in the previous section) as well as the existence of a contract for the specific tokenization event in question.

If acceptance is provided, the Supply Partner is issued Forward Clips based on the submitted agreement. The Supply Partner may then exchange these Forward Clips for the associated Collateralized Basket Tokens through the process outlined in the next chapter.

Delivery

When the Project achieves issuance and delivery of the associated credits has taken place - the relevant Foward Clips are marked as "deliverable". After this has happened, Market Participants may bring these Forward Clips to the Delivery mechanism in order to receive the underlying credits. The specifics of the Delivery mechanism are defined loosely in these docs, as they are the most subject to change. The Market Participants may opt to receive these credits in different forms (ie on-chain, within an off-chain system, on the original registry, etc) based on what functionality and limitations are in place at the time.

There likely will be KYC requirements imposed on this transaction in order to comply with the Travel Rule as outlined in the FATF's guidance for interacting with "unhosted wallets".