What this page covers
Structured finance on EDMA composes PoV-gated cash flows into investable products. Every coupon, every tranche payment, every yield distribution traces back to a verified operational event rather than to a borrower's promise to pay. This page covers the four core product categories (tokenized green bonds, EMT receivables financing, energy production tranches, carbon forward contracts), walks through the bond lifecycle in detail, and shows how the PoV foundation reduces credit analysis to evidence quality.
The core innovation is the structural one: traditional structured finance underwrites borrower creditworthiness — will the counterparty pay? On EDMA, every cash flow originates from a verifiable on-chain event. Coupons come from real energy generated and verified at the source. Tranche payments come from real production milestones cleared through the PoV Gate. Forward deliveries come from real PoV-verified issuance. The credit question collapses into the evidence question, which the protocol already answers at every gate.
Product categories in detail
Tokenized green bonds are the flagship product. A project developer issues a bond with coupons paid from verified energy production or carbon retirement events. The bond contract holds a vault of Energy NFTs or Carbon NFTs as collateral; coupon payments execute automatically when production milestones clear the PoV Gate. Investors buy the bond in $EDSD on the marketplace and receive coupons pro-rata over the bond's life, plus principal at maturity.
EMT receivables financing is the highest-volume product. Every shipment that passes a milestone gate generates a new EMT awaiting Locked-to-Unlocked release. Suppliers can sell the receivable to a financier at 25-100 basis points discount (depending on settlement block latency and corridor) for immediate liquidity. The financier holds the receivable and collects the full milestone payout when the block clears. This is structurally low-risk because the EMT already passed the PoV Gate; only settlement timing creates the financing need.
Energy production tranches let large renewable projects raise capital with a senior/mezzanine/equity waterfall. Senior tranche investors get lower yield but first claim on production revenue; equity tranche investors get higher yield but residual claim only. The smart contract enforces the waterfall on every verified production batch. Project developers raise capital at lower blended cost than traditional debt-equity stacks because each tranche prices appropriately for its risk slice.
Carbon forward contracts let buyers commit to future credit purchases at locked-in prices. Project developers receive upfront capital; buyers lock in supply at agreed prices (typically 6-18 months out). The contract settles on PoV-verified issuance; if the project under-produces, the buyer receives a pro-rata refund plus a contracted shortfall premium. The forward market produces a price-discovery signal for the spot Carbon NFT market that traders use for hedging.
A project developer deploys a bond contract with the terms: principal target, coupon rate, payment frequency (quarterly/semi-annual/annual), maturity date, underlying collateral asset class (Energy NFTs, Carbon NFTs, or a hybrid pool). The vault funds with the underlying assets; the bond is open for subscription.
Investors purchase bond tokens in $EDSD at the published unit price. Each token represents a pro-rata share of the bond's principal, coupon stream, and redemption value. Primary sale runs for a defined window (typically 1-4 weeks) and closes when fully subscribed or the window expires. Under-subscribed issuances refund principal to investors.
Coupon payments execute on the contracted schedule. The bond contract sells a portion of the underlying assets on the marketplace (or collects the dividend from PoV-verified production milestones), converts proceeds to $EDSD, and distributes pro-rata to all current bond holders. Each distribution emits a CouponPaid event with the period, amount, and per-token rate.
Bond tokens trade freely on the marketplace at any time during the bond's life. Secondary buyers receive all future coupons and the final redemption; secondary sellers receive the market price (which depends on remaining duration, accrued coupon, and the underlying collateral's mark-to-market value). Standard 4 percent certificate fee applies on secondary transfers (split 2 percent buyer / 2 percent seller).
At maturity, the bond contract sells all remaining underlying assets, converts proceeds to $EDSD, and distributes principal pro-rata to bond holders. If asset prices have fallen, redemption may be less than principal (investor risk); if prices have risen, surplus distributes to bond holders as a final residual payment beyond principal. Maturity emits a BondRedeemed event with final per-token payout.
How credit risk reduces to evidence quality
Traditional credit analysis asks: will the counterparty pay? The answer depends on creditworthiness, balance sheet, cash flow projections, and intermediate covenants. Structured products on top of this base build complexity through tranching, credit enhancements, and reserve accounts to manage counterparty risk.
On EDMA, the question changes: did the verified event occur? Every cash flow on a structured product originates from a PoV-gated event. A tokenized green bond's coupon comes from energy production verified by attestors and registered through the One-Claim Ledger. An EMT receivable's payout comes from a milestone that already passed the PoV Gate. The protocol's evidence machinery does the underwriting; the structured product layer just composes the verified cash flows.
This is why EDMA can support high-LTV structures (EMT receivables at 80-90 percent), tight forward contract premiums (a few percent over spot), and tokenized bonds without traditional intermediate covenants. The credit work is done at the protocol level, not at the product level. Investors evaluate evidence quality (attestor track record, methodology integrity, registry mirror coverage) rather than counterparty financial statements.
Continue exploring EDMA DeFi
For the lending layer that supports these structured products as a base liquidity source, see Lending. For the staking and governance layer that votes on structured product approvals and risk parameters, see Staking (DeFi). For the market-making rewards and insurance pool that backstop structured product secondary markets, see Liquidity / insurance. For the underlying tokenized assets see $ETT, $CLE, and $EDSD.
