DINO Primary

Dino Primary is the primary market rail of the T-REX ecosystem. It is a shared smart contract, deployed on the T-REX Ledger, that standardizes how investors:

• Subscribe to new ERC-3643 (T-REX) tokens, and

• Redeem those tokens back to the issuer,

with instant onchain settlement, compliance checks, and a configurable rule set controlled by the issuer and its delegates.

Instead of each issuer building its own bespoke subscription and redemption logic, Dino Primary provides a common infrastructure layer that any issuer, distributor, broker-dealer or dApp can reuse.

Key Features

• Standardized subscription & redemption flows Unified logic across all Dino-enabled ERC-3643 tokens, with instant settlement onchain.

• Multiple payment tokens Issuers can accept several payment tokens (e.g. stablecoins and non-stable tokens) and configure them per asset.

• Price oracle integration Dino Primary plugs into price feeds so the contract can compute how many asset tokens correspond to a given payment amount.

• Per-asset rule configuration Issuers (or their admins) can configure:

  • Subscription and redemption open/close

  • Minimum and maximum amounts

  • Accepted payment tokens

  • Optional malus / haircut on redemptions

  • Referral fees for distributors

• Built-in compliance Dino Primary is designed for tokens following the ERC-3643 standard. It relies on the Identity Registry and token compliance modules to ensure that only verified and eligible investors can subscribe or redeem.

• Shared infrastructure on the T-REX Ledger All participants — issuers, distributors, platforms, and investors — share the same contract infrastructure, making integrations repeatable and interoperable.

Actors & Roles

At a conceptual level, Dino Primary involves:

• Issuer / Issuer Safe The party responsible for the asset and the wallet that receives subscription proceeds and pays redemptions.

• Investors Wallets holding ERC-3643 tokens (or subscribing for them) that are verified and compliant.

• Distributors / Platforms / dApps Front-ends integrating with Dino Primary to offer “Invest” and “Redeem” experiences to end-users.

• Dino Primary Contract The onchain logic handling subscriptions and redemptions, enforcing rules, collecting ecosystem fees, and talking to the ERC-3643 token.

Under the hood, Dino Primary uses an AccessManager with separate roles (e.g. admin, token manager, rules manager) so issuers can clearly separate:

• Who can configure payment tokens,

• Who can adjust subscription/redemption rules,

• Who can manage overall administration.

Details of these roles and functions are covered in the Dino Primary – Admin & Management subpage.

Subscription Flow

A subscription is when an investor buys ERC-3643 tokens from the issuer, paying with an approved payment token.

High-level flow:

1. Configuration by the issuer

   • The issuer (or its delegates) configures:

     • Subscription open/close status,

     • Min/max subscription amounts,

     • Accepted payment tokens and their price feeds.

2. Investor eligibility

   • The investor must:

     • Be registered in the Identity Registry (ONCHAINID linked to their wallet),

     • Pass the usual ERC-3643 compliance checks (jurisdiction, investor type, etc.).

3. Investor action

   • The investor approves the payment token (e.g. stablecoin) for Dino Primary.

   • The investor calls the subscribe(amount, paymentToken) function via a dApp or platform.

4. On-chain processing

   • Dino Primary:

     • Verifies that subscriptions are open and within configured limits.

     • Verifies the investor’s eligibility and token compliance.

     • Transfers the payment token to the issuer’s safe address.

     • Allocates the ERC-3643 tokens to the investor using one of two approaches:

       • Preminted treasury: tokens are transferred from the issuer’s treasury wallet.

       • On-the-fly mint: tokens are minted directly to the investor (Dino Primary acts as a minter agent of the token).

5. Settlement & logging

   • The transaction settles atomically on-chain.

   • A Subscribed event is emitted with the relevant details for off-chain systems.

From a front-end perspective, this is typically surfaced as a simple “Invest” button with fields for amount and payment token, while all compliance and settlement logic happens within Dino Primary and the ERC-3643 token.

Redemption Flow

A redemption is when an investor sells their ERC-3643 tokens back to the issuer under pre-defined rules.

High-level flow:

1. Configuration by the issuer

   • The issuer configures:

     • Whether redemptions are open,

     • Min/max redemption amounts,

     • Accepted payment tokens,

     • Optional malus (a penalty or haircut on the redemption price).

2. Investor eligibility

   • As with subscriptions, the investor must remain compliant and verified under ERC-3643 rules.

3. Investor action

   • Optional – The investor approves the asset token (ERC-3643) for Dino Primary – only applicable if Preminted treasury where the tokens need to be transferred back to the Issuer.

   • The investor calls redeem(amount, paymentToken) via a dApp.

4. Onchain processing

   • Dino Primary:

     • Verifies that redemptions are open and limits are respected.

     • Re-checks investor eligibility and compliance.

     • Handles the ERC-3643 tokens using one of two approaches:

       • Preminted treasury: tokens are transferred back to the issuer’s treasury.

       • Burning: tokens are burned from the investor (Dino Primary acts as an agent with burn permissions).

     • Calculates the payment amount, optionally applying a malus if configured.

     • Transfers the payment token from the issuer’s safe address to the investor.

5. Settlement & logging

   • The transaction settles atomically.

   • A Redeemed event is emitted with all key parameters.

From the end-user perspective, this is usually exposed as a “Redeem” or “Sell back to issuer” action with clear display of applicable rules and any malus.

Payment Tokens & Pricing

Dino Primary supports:

• Stable payment tokens Tokens considered stable against the reference asset (e.g. USD), where pricing can be treated as 1:1 or based on simple rules.

• Non-stable payment tokens Tokens whose value fluctuates (e.g. other cryptocurrencies). For these, Dino Primary integrates with a price oracle implementing AggregatorV3Interface configured per payment token.

This allows issuers to:

• Offer subscriptions/redemptions in several currencies or tokens.

• Keep the asset priced in one reference unit (e.g. NAV in USD) while accepting payments in different tokens.

The configuration and management of payment tokens is described in the Dino Primary – Admin & Management subpage.

Compliance & ERC-3643 Integration

Dino Primary is designed to work with ERC-3643 permissioned tokens:

• Every investor wallet is linked to an ONCHAINID in the Identity Registry.

• The ERC-3643 token enforces:

  • KYC/AML status,

  • Jurisdiction rules,

  • Investor categorization (retail/professional, etc.),

  • Any additional custom compliance logic.

When a subscription or redemption is attempted, Dino Primary:

1. Calls into the ERC-3643 token / Identity Registry to confirm:

   • The investor is registered and eligible.

   • The transfer or burn/mint operation is allowed by compliance rules.

2. Executes the token transfer or burn/mint only if all checks pass.

This ensures that every primary market operation is compliance-aware by design, not just at the UI layer.

Integration Patterns for Platforms & dApps

Typical integration steps for a platform building on Dino Primary:

1. Discovery

   • Fetch Dino Primary configuration for a given token:

     • Subscription and redemption status.

     • Min/max amounts.

     • Accepted payment tokens and, where useful, their price feeds.

2. Pre-checks

   • Check that:

     • The investor is onboarded and linked to an ONCHAINID.

     • The wallet is approved in the relevant Identity Registry.

     • The transaction respects compliance rules defined at ERC-3643 level (call canTransfer(address from, address to, uint256 amount) on the compliance contract).

     • Any off-chain checks (e.g. investor questionnaire) are completed.

3. User flows

   • For subscriptions:

     • Guide user to approve the payment token.

     • Call subscribe(amount, paymentToken) and track the emitted event.

   • For redemptions:

     • Guide user to approve the asset token (only if Preminted treasury).

     • Call redeem(amount, paymentToken) and track the emitted event.

4. Post-trade processing

   • Listen to Subscribed / Redeemed events to:

     • Update portfolio views,

     • Trigger reporting,

     • Synchronize with off-chain systems (e.g. transfer agent, fund admin, custodians).

Because Dino Primary is a shared contract on the T-REX Ledger, the same integration can be reused across multiple assets, issuers, and distribution channels.

Related Documentation

For more detailed and technical information, see the subpages:

• Dino Primary – Admin & Management Roles, rule configuration, payment token management, fee model.

• Dino Primary – Developer Reference Solidity interfaces, function signatures, events, error codes, and integration examples.

These pages are where you can expose the content from your existing DinoPrimary.md and the actual contract interface, while keeping this page focused on the conceptual behavior and business logic.