From 9c028a5de196e2e7cbe033e55a9e8925f4ec2249 Mon Sep 17 00:00:00 2001 From: M Zidan Fatonie Date: Tue, 11 Aug 2026 15:19:45 +0700 Subject: [PATCH] feat: add CMTAT standard and link five use cases to existing approaches Adds CMTAT as a related standard alongside ERC 3643 in GLOSSARY.md, pattern erc3643 rwa.md, and private rwa tokenization.md, closing issue 174. Also links private stocks, private commodities, private fx, and private repo to Private Trade Settlement, and private treasuries to Private Payments, as explicit variants. This addresses the extension items from issue 138. The five use cases that still need new approach cards written from scratch are left for a follow up. --- CHANGELOG.md | 2 ++ GLOSSARY.md | 2 ++ approaches/approach-private-payments.md | 4 ++-- approaches/approach-private-trade-settlement.md | 4 ++-- patterns/pattern-erc3643-rwa.md | 4 +++- use-cases/private-commodities.md | 2 +- use-cases/private-fx.md | 2 +- use-cases/private-repo.md | 2 +- use-cases/private-rwa-tokenization.md | 4 ++-- use-cases/private-stocks.md | 2 +- use-cases/private-treasuries.md | 2 +- 11 files changed, 18 insertions(+), 12 deletions(-) diff --git a/CHANGELOG.md b/CHANGELOG.md index cec5391..dc89af4 100644 --- a/CHANGELOG.md +++ b/CHANGELOG.md @@ -4,6 +4,8 @@ All notable changes to the EthSystems Map are documented here. ## [Unreleased] +- feat(approach): link private-stocks, private-commodities, private-fx, and private-repo to [Private Trade Settlement](approaches/approach-private-trade-settlement.md), and private-treasuries to [Private Payments](approaches/approach-private-payments.md), as explicit variants ([#190](https://github.com/ethsystems/map/pull/190), part of [#138](https://github.com/ethsystems/map/issues/138)) +- feat(pattern): add [CMTAT](https://cmta.ch/standards/cmta-token-cmtat) as an alternative to ERC-3643 in [ERC-3643 Tokenized RWAs](patterns/pattern-erc3643-rwa.md), a blockchain-agnostic compliant-tokenization standard with an Aztec/Noir privacy-preserving implementation, cross-referenced in GLOSSARY.md and [Private RWA Tokenization](use-cases/private-rwa-tokenization.md) ([#190](https://github.com/ethsystems/map/pull/190), closes [#174](https://github.com/ethsystems/map/issues/174)) - feat(vendor): [Gateway Open Privacy Suite](vendors/gateway-open-privacy-suite.md) — governed JSON-RPC access, selective disclosure, and compliance controls for private EVM networks and Gateway L2/validium deployments ([#189](https://github.com/ethsystems/map/pull/189)) - docs: add Espalier preprint reference to [ZK Proof Systems](patterns/pattern-zk-proof-systems.md), [Post-Quantum Threats](domains/post-quantum.md), and [Safe Proof Delegation](patterns/pattern-safe-proof-delegation.md) `## See also` sections - feat(jurisdiction): [EU / EUDR (Deforestation Regulation)](jurisdictions/eu-EUDR.md) -- Article 9 plot-level geolocation and the DDS reference-number model, ahead of the 30 December 2026 application date ([#181](https://github.com/ethsystems/map/pull/181)) diff --git a/GLOSSARY.md b/GLOSSARY.md index 4781c2f..79307d7 100644 --- a/GLOSSARY.md +++ b/GLOSSARY.md @@ -71,6 +71,8 @@ A dedicated network or service that publishes and stores the data required for D **[ERC-3643](https://eips.ethereum.org/EIPS/eip-3643)**: Ethereum standard for permissioned tokenized securities with built-in compliance framework +**[CMTAT](https://cmta.ch/standards/cmta-token-cmtat)**: CMTA's open standard for tokenizing financial instruments, using a rule-engine and allowlist model rather than an identity registry. Blockchain-agnostic, with reference implementations on EVM, Tezos, Solana, and a privacy-preserving Aztec/Noir variant + **[ERC-7573](https://ercs.ethereum.org/ERCS/erc-7573)**: Standard for conditional cross-chain settlement coordination **[EIP-6123](https://eips.ethereum.org/EIPS/eip-6123)**: Ethereum standard for derivatives contracts with automated lifecycle management diff --git a/approaches/approach-private-payments.md b/approaches/approach-private-payments.md index 2d23629..939e10b 100644 --- a/approaches/approach-private-payments.md +++ b/approaches/approach-private-payments.md @@ -1,10 +1,10 @@ --- title: "Approach: Private Payments" status: ready -last_reviewed: 2026-06-24 +last_reviewed: 2026-08-11 use_case: private-stablecoins -related_use_cases: [resilient-disbursement-rails] +related_use_cases: [resilient-disbursement-rails, private-treasuries] primary_patterns: - pattern-shielding diff --git a/approaches/approach-private-trade-settlement.md b/approaches/approach-private-trade-settlement.md index 6087b03..b67f1a1 100644 --- a/approaches/approach-private-trade-settlement.md +++ b/approaches/approach-private-trade-settlement.md @@ -1,10 +1,10 @@ --- title: "Approach: Private Trade Settlement" status: ready -last_reviewed: 2026-06-24 +last_reviewed: 2026-08-11 use_case: private-bonds -related_use_cases: [private-derivatives, private-rwa-tokenization, private-corporate-bonds, private-government-debt] +related_use_cases: [private-derivatives, private-rwa-tokenization, private-corporate-bonds, private-government-debt, private-stocks, private-commodities, private-fx, private-repo] primary_patterns: - pattern-shielding diff --git a/patterns/pattern-erc3643-rwa.md b/patterns/pattern-erc3643-rwa.md index c45ff5e..3ef6c98 100644 --- a/patterns/pattern-erc3643-rwa.md +++ b/patterns/pattern-erc3643-rwa.md @@ -4,7 +4,7 @@ status: ready maturity: production type: standard layer: L1 -last_reviewed: 2026-04-22 +last_reviewed: 2026-08-11 works-best-when: - Regulatory compliance is mandatory. @@ -88,6 +88,7 @@ Threat model: - Additional compliance checks on every transfer raise gas costs. - Not suitable for permissionless DeFi composition. Many protocols will reject permissioned tokens. - Compliance rules must be maintained and updated as regulations evolve, which requires ongoing governance. +- CMTAT covers the same intent through a rule-engine and allowlist model instead of an identity registry with claim issuers; it is blockchain-agnostic (EVM, Tezos, Solana) and has an existing privacy-preserving implementation in Noir for Aztec, relevant where transaction-level confidentiality is a goal. ## Example @@ -97,3 +98,4 @@ An issuer tokenizes a bond as a permissioned token with investor accreditation r - [Private Bonds Approach](../approaches/approach-private-bonds.md) - [ERC-3643 documentation](https://docs.erc3643.org/erc-3643) +- [CMTAT (CMTA Token) standard](https://cmta.ch/standards/cmta-token-cmtat) diff --git a/use-cases/private-commodities.md b/use-cases/private-commodities.md index 87d7451..7510d91 100644 --- a/use-cases/private-commodities.md +++ b/use-cases/private-commodities.md @@ -51,7 +51,7 @@ Commodity trading strategies depend on information asymmetry. Public trading act ## 5) Recommended Approaches -Approach TBD. Consider: +See [approach-private-trade-settlement.md](../approaches/approach-private-trade-settlement.md) for general settlement architecture. Commodity-specific considerations: - Privacy-preserving custody attestations (proof of reserves without position disclosure) - Integration with physical commodity tracking - Synthetic vs physically-backed privacy trade-offs diff --git a/use-cases/private-fx.md b/use-cases/private-fx.md index d338f59..96fc2a9 100644 --- a/use-cases/private-fx.md +++ b/use-cases/private-fx.md @@ -51,7 +51,7 @@ International payments reveal business relationships and transaction patterns th ## 5) Recommended Approaches -Approach TBD. Consider: +See [approach-private-trade-settlement.md](../approaches/approach-private-trade-settlement.md) for general settlement architecture. FX-specific considerations: - Privacy-preserving PvP (Payment vs Payment) settlement - Integration with [approach-private-bonds.md](../approaches/approach-private-bonds.md) DvP patterns for cash leg - Stablecoin privacy patterns from [private-stablecoins.md](private-stablecoins.md) diff --git a/use-cases/private-repo.md b/use-cases/private-repo.md index 0b8c87a..25b7db4 100644 --- a/use-cases/private-repo.md +++ b/use-cases/private-repo.md @@ -52,7 +52,7 @@ Visible funding costs and patterns enable competitors to undercut pricing or fro ## 5) Recommended Approaches -Approach TBD. Consider: +See [approach-private-trade-settlement.md](../approaches/approach-private-trade-settlement.md) for general settlement architecture. Repo-specific considerations: - Privacy-preserving collateral verification - Atomic settlement with privacy (similar to DvP patterns in [approach-private-bonds.md](../approaches/approach-private-bonds.md)) - Integration with existing clearing infrastructure diff --git a/use-cases/private-rwa-tokenization.md b/use-cases/private-rwa-tokenization.md index 66ea567..b003afd 100644 --- a/use-cases/private-rwa-tokenization.md +++ b/use-cases/private-rwa-tokenization.md @@ -45,7 +45,7 @@ On-chain RWA tokenization exposes ownership, valuation, and transfer history by ## 5) Recommended Approaches -See [Private Bonds](../approaches/approach-private-bonds.md) and [Private Payments](../approaches/approach-private-payments.md) approaches - RWA tokenization can inherit private transfer solutions with emphasis on transfer compliance checks and RWA-specific standards (ERC-3643, ERC-7943 with privacy modifications using commitments). +See [Private Bonds](../approaches/approach-private-bonds.md) and [Private Payments](../approaches/approach-private-payments.md) approaches - RWA tokenization can inherit private transfer solutions with emphasis on transfer compliance checks and RWA-specific standards (ERC-3643, ERC-7943, or CMTAT with privacy modifications using commitments). ## 6) Open Questions @@ -59,4 +59,4 @@ See [Private Bonds](../approaches/approach-private-bonds.md) and [Private Paymen - [pattern-l2-encrypted-offchain-audit.md](../patterns/pattern-l2-encrypted-offchain-audit.md) - [pattern-zk-kyc-ml-id-erc734-735.md](../patterns/pattern-zk-kyc-ml-id-erc734-735.md) - [pattern-co-snark.md](../patterns/pattern-co-snark.md) -- **Standards:** ERC-3643, ERC-7943 +- **Standards:** ERC-3643, ERC-7943, CMTAT diff --git a/use-cases/private-stocks.md b/use-cases/private-stocks.md index 4ee9f82..d2f1b80 100644 --- a/use-cases/private-stocks.md +++ b/use-cases/private-stocks.md @@ -51,7 +51,7 @@ Traditional exchanges tokenizing equity need privacy to differentiate from trans ## 5) Recommended Approaches -Approach TBD. Consider: +See [approach-private-trade-settlement.md](../approaches/approach-private-trade-settlement.md) for general settlement architecture. Stock-specific considerations: - Integration with existing transfer agent infrastructure - Privacy-preserving beneficial ownership registries - Hybrid on-chain/off-chain settlement models diff --git a/use-cases/private-treasuries.md b/use-cases/private-treasuries.md index 2d5ec1d..c8b67d4 100644 --- a/use-cases/private-treasuries.md +++ b/use-cases/private-treasuries.md @@ -54,7 +54,7 @@ Aggregate cash positions and treasury investment strategies are competitively se ## 5) Recommended Approaches -Approach TBD. Consider: +See [approach-private-payments.md](../approaches/approach-private-payments.md) for general payment architecture. Treasury-specific considerations: - Privacy-preserving cash pooling mechanisms - Integration with [private-money-market-funds.md](private-money-market-funds.md) for yield - Multi-entity identity management with selective disclosure