Solon is an EVM Layer-1 chain built for real-world assets (RWA): securities-grade compliance is written into the protocol layer, proof of reserve is enforced by contracts, and bonds, credit and receivables settle 7×24 at 1-second blocks.
No one should be enslaved by debt.
Debt instruments — bonds, credit, receivables — are the world's largest asset class, yet they run on T+2 settlement, paper certificates, and cross-border layers of fax-and-custodian infrastructure. The value of tokenization is not the 'coin'; it is compressing title, compliance, clearing and disclosure into a single atomic transaction.
Existing chains are general-purpose and leave compliance to issuer goodwill; existing security-token platforms are mostly closed consortium chains that sacrifice public verifiability. Solon's answer: a public Layer-1 where securities-grade compliance is a protocol-level mandate — whitelists, freezes, forced transfers and reserve gating are not enforced by any front-end or goodwill, but by contracts that revert violating transactions outright.
The master design of Solon compliance: off-chain discovers facts, on-chain enforces rules — each layer does its own job; together they are compliance.
| Off-chain · Root of Trust | On-chain · Verifiable Proof | |
|---|---|---|
| Duty | Fact finding: regulatory approval & filing, audit, custody, legal opinion | Rule enforcement: KYC, whitelists, freezes, pauses, DvP, gating |
| Output | Filing numbers, audit conclusions, legal opinions | Document-hash attestation, multi-sig feeds, automated risk control, enforcement ledger |
| On failure | Regulators and the judiciary disprove and penalize (SFC / AFRC / HKMA / CCB / ICAC) | Stop-loss in seconds: subscriptions & redemptions auto-pause, abnormal addresses frozen, evidence preserved |
The chain cannot auto-discover 'whether an asset truly exists' — that is the job of auditors and regulators. What the chain guarantees: once an off-chain proof is submitted, it is tamper-proof, recomputable by anyone, and the system stops losses within seconds when a proof lapses. Government filing is not government guarantee; dual proof makes every party's responsibility boundary explicit.
A simplified ERC-3643 implementation, deployed on testnet and verified on-chain.
| Mechanism | Protocol behavior |
|---|---|
| Identity whitelist — IdentityRegistry | Both sides of a transfer must be KYC-registered; transfers to unregistered addresses revert outright |
| Compliance freeze | All transfers to or from a frozen address revert; unfreezing is likewise logged |
| Forced transfer | In judicial scenarios such as court orders, the owner executes forced transfers, fully recorded on-chain |
| Emergency pause | All contract transfers can be paused in extreme scenarios; resumption is also logged |
| Atomic settlement (DvP) | Primary subscriptions and limit orders settle delivery-versus-payment atomically — no half-filled state exists |
| Corporate actions | DividendPool: the issuer funds the pool, holders claim pro rata, snapshots are public |
Every capability above was tested item by item on deployment day (whitelist blocking, freeze blocking, forced transfer, pause & resume); results are public in the Developer Docs and can be re-checked against on-chain data by anyone.
The SolonProof contract upgrades 'proof of reserve' from a PDF report to a contract object: registration, attestation feeds, gating, revocation and logging are all on-chain.
Live-run entries: PoR auto-pause ledger · dual-proof view · GLD asset disclosure page
| Parameter | Value / notes |
|---|---|
| Consensus | Clique PoA (proof of authority) — instant finality, no forks or reorgs, fit for financial settlement |
| Validators | Testnet runs dual validators in Singapore + Seoul, dual-region active-active; the chain keeps running if either fails. Mainnet expands per admission standards |
| Block time | 1 second; measured intervals are public on the status page |
| EVM compatibility | Fully London-compatible: MetaMask / ethers.js / web3.py / Remix / Hardhat work out of the box; chainId 51051 |
| Gas sponsorship (planned) | Mainnet will offer relay sponsorship: institutions settle gas in stablecoins; end users need zero holdings |
PoA is not a compromise but a deliberate design for financial infrastructure: validators are identified entities, admitted via governance multi-sig, and block rights can be revoked by governance — clear accountability is the basis for regulatory dialogue. See Chapter 9 for the decentralization path: the validator set opens progressively per admission standards.
SLN is Solon's native utility token, a credential for network usage and governance. It does not constitute any security, income right, or promise of investment return.
| Function | Notes |
|---|---|
| Gas | All on-chain operations are metered in SLN; mainnet adds stablecoin relay sponsorship so institutions need not hold it directly |
| Governance | Parameter changes, validator admission and SIP-approved proposals are executed by the multi-sig committee; all governance records are public |
| PoR attestation staking (planned) | Attesters (auditors / custodians) stake SLN as a good-faith bond; false attestations are slashed |
Testnet SLN is valueless, distributed free from the faucet (10 SLN per address per day). Mainnet supply and allocation will be disclosed with the mainnet announcement, subject to legal opinions.
Solon governance has two tiers: execution — a 2-of-3 multi-sig committee whose proposals and confirmations for critical actions (bridge parameters, treasury, emergency pause) are all logged on-chain (public on the governance page); and proposals — the SIP (Solon Improvement Proposal) process, adapted from EIP to chain scale.
Solon's launch scenario is asset digitization for top-tier global institutions; each regulatory requirement maps to a protocol mechanism.
| Requirement | Protocol mechanism |
|---|---|
| Investor suitability / KYC | IdentityRegistry whitelist — unregistered addresses cannot hold |
| Issuance approval & filing | The issuance wizard mandates 13 filing fields (regulatory filing / legal opinion / dispute resolution) — no filing, no issuance |
| Ongoing disclosure & audit | SolonProof registration + multi-sig feeds + validity gating |
| Market misconduct enforcement | Freeze / forced transfer / emergency pause + enforcement ledger + evidence-pack export |
| Cross-border enforceability | Dispute-resolution clauses (HKIAC / SIAC arbitration) are mandatory issuance fields; awards are enforceable in 170+ jurisdictions |
Regulatory boundaries: false statements are pursued by the SFC, audit fraud sanctioned by the AFRC, and criminal fraud investigated by the police Commercial Crime Bureau — the chain provides the evidence trail and instant stop-loss; it does not replace governments or courts.
| Phase | Milestones |
|---|---|
| Testnet V0 (delivered) | Dual validators live; six core products (explorer / faucet / wallet / issuance / in-browser trading suite); compliance token protocol verified |
| Testnet hardening (in progress) | PoR reserve monitoring, dual-proof view, mandatory issuance filing, security center, developer portal 2.0, Whitepaper V1.0 (this document) |
| Mainnet V1 | Third-party audit completed; node manual & validator admission published; SIP process live; first assets from top-tier global institutions |
| Mainnet expansion | Validator set expands per admission standards; gas relay sponsorship; protocol-level DID; MPC custody integration; ecosystem grants & incentivized testnet |
Quarterly public roadmap and per-release records: see /roadmap。
① This document is a technical and mechanical description only; it does not constitute an offer, solicitation or investment advice for any security, token or financial product. ② Testnet assets and SLN are valueless and confer no mainnet rights. ③ On-chain filing attestation does not constitute approval, endorsement or guarantee by any government or regulator. ④ Offering documents, risk disclosures and legal opinions for any specific asset are governed by the issuer's formal disclosures. ⑤ Where this document conflicts with formal legal opinions, the legal opinions prevail.
| Version | Date | Changes |
|---|---|---|
| V1.0 | 2026-10-13 | Initial release (ten chapters; every data point cross-checked against testnet live runs) |
Solon