EMPOWERING THE NEXT GENERATION

OF INVESTORS
March 2020
 Whitepaper, March 2020

There is currently a
massive opportunity
to capture value within
the private investment
marketplace with
disruptive technology
given this market’s
high friction, lack
of transparency,
illiquidity and
complicated regulatory
environment.

At over $7 trillion in
size, the global private
real estate markets are
a prime example.

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 Whitepaper, March 2020

VISION

As a blockchain enabled issuer, fund

manager and technology provider, our mission
is to merge private equity with blockchain
technologies and provide much broader global
access to institutional quality investment
products that create long term value and build
wealth.

We aim to provide a link between the

global retail investment community and cash
generating investment opportunities, opening
up access to previously untapped global capital
markets where transactions take place 24/7,
instantly, with little or no cost, and without
borders.

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 Whitepaper, March 2020

TECHNOLOGY ABSTRACT

Realio is a digital issuance, investment and peer-to-peer

trading platform that utilizes a proprietary distributed network
for issuing-on and interconnecting decentralized ecosystems.
The platform leverages both a permissioned and permissionless
architecture to satisfy the need for stringent securities regulations
while allowing uniquely democratized access to investment
products normally reserved for a select subset of institutional
investors. We source investment opportunities across many
asset classes with a focus on real estate private equity and we
also provide the tools for 3rd party issuers to digitize their assets
and raise capital within the network or use our tech stack as a
private white-label solution.

Our network architecture is modular, scalable, and enables

built-in liquidity while distributing previously highly-centralized
activities such as issuance and regulatory compliance across a
private and secure network of independent participants.

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 Whitepaper, March 2020

DISCLAIMER: PLEASE READ

This document referred to herein as a “white paper,” is for informational purposes only. The information herein does not
constitute an offer to sell or solicit any offer to buy securities, nor is it a recommendation to invest in Realio. Any decision to
purchase or subscribe for securities should be made solely on the basis of information contained in a final offering memorandum
and related subscription agreement and/or limited partnership agreement, (collectively the “Offering Documents”) delivered
in connection with the Realio tokens described herein.

The information in this whitepaper may not be complete. This whitepaper contains forward-looking statements based
on certain assumptions that may or may not occur and are subject to change. No representation or warranty, express or
implied, is made by Realio LLC or any related persons, as to the accuracy or completeness of the information contained in this
document and nothing contained herein is, or shall be relied upon as a promise or representation in the past or the future as
a recommendation to make any investment.

While we intend to realize our vision, please recognize that it is dependent on quite a number of factors and subject to a
number of risks. All statements contained herein are qualified as subject to applicable law. Due to the retrospective nature of
regulatory action, we can make no guarantees regarding the legality of the platform or token launch in any given jurisdiction.

Please know that we will work to achieve the vision as described in this white paper, but there are no guarantees. Blockchain,
other aspects of our technology and digital assets markets are still relatively new and will be subject to many challenges,
competition, and a changing environment. We will always endeavor to update our community as Realio evolves to meet these
challenges.

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 Whitepaper, March 2020

TABLE OF CONTENTS
MARKET OPPORTUNITY 6
The Digital Evolution of Financial Markets 7
A Brief History 7
Industry Challenges Inherent in Private Markets 9
Regulatory & Legal 9
Technical 9
Standardization 9
Changing Demographics 9

THE REALIO ECOSYSTEM 11

Technology Introduction 12
The Realio Network 12
Interoperability 13
Network Architecture: Security Token Standard 15
Native Compliance Protocol 15
Primary Chaincode Modules 16
KYC/AML/Accreditation Whitelisting 16
Asset Tokenization and Issuance 16
Network Fees, Market Maker Rewards and Block Rewards 16
Cap Table, Investment Tracking and Distributions of Profits 16
Secondary market trading – P2P and OTC Transactions 16
Chain Interoperability 17

LAYER 1 SUPPORTED BLOCKCHAINS 18

Stellar 18
Ravencoin 18
Fusion 18
Ethereum 19
Binance Chain 19
Algorand 19

REALIO TOKEN ARCHITECTURE 20

RST 20
RIO 21
RealioUSD (rUSD) 22
Role of Tokens 23
Value Flow 23
Reward Mechanisms 24

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 Whitepaper, March 2020

Node Operators 25
Description of Node Types 25

PLATFORM 26
Multi-Currency Wallet System 27
Deposits and Withdrawals 27
KYC and Custody Accounts 27
Portfolio/Asset Management 27
User Interface Design Concept 28

REALIOX | DECENTRALIZED EXCHANGE 29

Overview of a Decentralized Exchange 29
Realio’s DEX GUI 30
Market Maker Rewards 31
The RealioX Trading GUI 32
The Realio Wallet Service “Swap” Function 32

PROVIDING MARKETING FOR PROJECTS 33

Identification of a Customer Funnel 33
Identification of KPIs through the Funnel 33
Community Building Strategy 33
Identification of Marketing Platforms 33
Determination of Marketing Budget 33
Creating a Social Marketing Calendar 34

TEAM AND ADVISORS 35

Realio Founding Team 35
Advisory Board 37
Tech Infrastructure 39
Supported Blockchains 39
Partnerships & Consultants 40

ACRONYMS & DEFINITIONS 41

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 Whitepaper, March 2020

MARKET OPPORTUNITY

Over the next 25 years, baby-boomers will pass $68 trillion to their children¹ — the greatest generational wealth transfer in
history. The demographic inheriting this windfall is technology-savvy, welcomes change and disruption, and has an inherent
distrust of banks. At the same time, legacy financial markets and institutions lack the agility and willingness to be first-movers
with new technologies. The rapid rise of decentralized blockchain technology is an early indicator that the next generation of
financial technology and asset management will need to exist on these digital rails.

There is currently a massive opportunity to capture the private investment marketplace with disruptive technology given this
market’s high friction, lack of transparency, illiquidity and complicated regulatory environment. At over 7 trillion dollars in
size, the global private real estate markets are a prime example.

In response, we have created a digital issuance, investment and p2p trading platform, leveraging blockchain technology,
in order to unlock value and movement within the private equity landscape. The Realio platform provides an easy-to-use,
customized experience that allows for the frictionless and socially engaged private marketplaces expected by the next
generation of investors.²

1 “Here’s how to prepare your heirs for the $68 trillion ‘great wealth transfer’.” 25 Feb. 2019.
2 “Global real estate: Opportunity for income and ... - Nuveen.” 2 Jul. 2019. Accessed 22 Dec. 2019.

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 Whitepaper, March 2020

THE DIGITAL EVOLUTION OF FINANCIAL MARKETS

A Brief History Blockchain technology is the next evolution of financial

markets, making them more connected, trustless, borderless,
Until the mid-nineties, most stock exchanges were simple faster and less costly through the use of smart contracts
cry-out systems. A broker would receive customer orders which reduce third party friction. It affords a higher level of
in-person or by phone, make a note of the order, execute a accountability via the transparency of an immutable record
series of hand signals and call out the desired stock, indicating of information processed. From an investor’s point of view,
a buy or a sell. Once two brokers agreed on the price, the digital securities on blockchain enable buyers to access a
transaction would be recorded in the system, on paper. larger universe of assets.³ Lastly, it offers next level security
through encryption and elimination of a single point of
Shortly thereafter, most stock exchanges transitioned towards failure through the network.
the digital world. The world which was hailed as the entrance
into precise price discovery and fair trading. There have been The technology opens up exciting possibilities including
some exceptions, such as the London Stock Exchange, which tokenization of non-traded REITs, affording them much of
adopted pilots of an electronic system even before the start the same liquidity of publicly traded REITs while maintaining
of the 90s. The input of all prices into electronic systems has the a more attractive return profile. Other opportunities for
enabled trade through rule and the national best bid offer technological disruption in alternative asset classes include
(NBBO), the concept in the US whereby the investor/broker merchant cash advances, small business loans, home equity
has the option to buy/sell at whichever exchange offers lending, entertainment finance, collateralized art finance,
the best price. These advancements led to one conclusion bridge real estate lending, and distressed municipal bonds
summarized by an excerpt from the book Flash Boys by and corporate debt.
Michael Lewis: “The 1987 stock market crash set into motion
a process — weak at first, stronger over the years — that has Security tokens are bound to be a mainstay of the industry in
ended with computers entirely replacing people.” the future: they are technologically superior, safer and more
transparent, at least for regulators. The current securities
This merely represents one facet of the financial markets, value chain is organized around a number of different
but is an important one because it helps us understand why, intermediaries that act sequentially during the various
instead of expanding the technology horizontally, the stock stages of its lifecycle. Consolidation of these intermediaries
market was so attractive that most if not all funds were through technological innovation is a natural next step. The
directly funneled into expanding the technology vertically on introduction of DLT therefore represents a clear re-shaping
this particular niche. While stock trading and public market and disruption of the business model and of the roles of the
digital infrastructure are largely developed, the private various stakeholders.³
investment markets and other forms of asset trading have
seen very little technological or regulatory advancement in Now, we are introducing a new, open distributed ledger
the past century. This incredible market imbalance combined environment without intermediaries linking issuers directly
with the emergence of DLT technology positions us with to investors. Our aim is for trading venues and custodians
the potential for disruption and reshaping of the private to be fundamentally disrupted by a ledger in which
securities industry. participants manage the entire security value chain in real
time via security and hybrid tokens.

3 “Are token assets the securities of tomorrow? - Deloitte.” Accessed 6 Jan. 2020.

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 Whitepaper, March 2020

While stock trading and

public market digital
infrastructure are largely
developed, the private
investment markets
and other forms of asset
trading have seen very little
technological or regulatory
advancement in the past
century.

This incredible market

imbalance combined
with the emergence of
DLT technology positions
us with the potential for
disruption and reshaping
of the private securities
industry.

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 Whitepaper, March 2020

INDUSTRY CHALLENGES: TOKENIZATION OF PRIVATE MARKETS

Regulatory & Legal systems, then it is in the interest of neither to evolve it as that
would lose money for the company/investors. Therefore the
The tokenization of asset-backed securities requires optimal decision for these companies is to stay as they are.
identity-based networks in order to establish a much higher
degree of trust at the network level, while the issue of multi- Standardization
jurisdictional compliance requires interoperability through a
chain-agnostic network. When digitizing assets, one of the most important issues
is the need for proper standards and structure. Blockchain
There is still a big gap in terms of the availability of regulated is the ideal medium for this, as proven with various
secondary market infrastructure for both the trade and implementations. One example is the tokenization of
post-trade stages. The burden of regulatory compliance real-estate. This has many possible implementations, from
when setting up such ecosystems is a key reason for this digitizing a house as a non-divisible whole to transforming
gap.⁴ it into fractional parts that several people may own while
partaking in the revenue it generates.
Technical
There are still many questions to be answered for security
To fully leverage DLT and security token opportunities, we tokens to enter the mainstream. Widespread use of
need to view DLT not simply as a new type of “database” but the technology is likely to be particularly dependent on
rather as a new way to organize the securities landscape, standardization and interoperability between ledgers.
from issuance to custody. This is clearly one of the main
challenges we face, breaking away from the sequential Changing Demographics
centralized model to a distributed ledger model, where
participants can access the same information at the same As noted in the introduction, we are beginning to witness
time. This entails defining new roles and responsibilities the largest generational transfer of wealth in history.
along the entire value chain of the existing securities Generation X and millennials are the first digitally native
industry. generations with a new set of expectations. These include
better communication, transparency and convenience
Private markets suffer from slow execution, lack of through more accessible financial products and services. This
transparency and limited liquidity, resulting in a higher generation expects an online and customized experience
cost of capital. Most legacy financial systems use practices at low or no cost for nearly everything they do, and has a
that have not evolved compared to our data-driven world.⁵ collective inherent distrust of banks and large institutions
Legacy institutions have a financial incentive to maintain due to the 2008 financial crisis being their introduction to
this inefficient status quo. how financial markets operate.

Instead of a bidding war, we have something more elementary A user-friendly digital experience with enhanced
at play here. If all the large financial institutions have legacy transparency and customized options is needed to

4 “Reducing the Rist of Policy Failure: Challenges for Regulartory Compliance” Accessed 6 Jan. 2020.
5 “Legacy systems are a pain in the bank - Finextra.” 26 Oct. 2018, https://www.finextra.com/blogposting/16205/legacy-systems-are-a-pain-
in-the-bank. Accessed 17 Dec. 2019.

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 Whitepaper, March 2020

engage millennials. Traditional financial services will

become obsolete with the emergence of and desire for
crowdsourced information and capital formation. Social
media, online investment clubs and social trading help
millennials collaborate and navigate wealth management.
Millennial investors value crowdsourcing with the validation
of transparency and peer review.⁶

We are beginning to witness the largest

generational transfer of wealth in history.
Generation X and millennials are the first
digitally native generations with a new set of
expectations.

6
https://www.pwc.com/us/en/industries/financial-services/library/managing-millennial-money.html

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 Whitepaper, March 2020

THE REALIO ECOSYSTEM

Empowering the next generation of investors

through access, transparency and choice.

To address the growing technological imbalance in private through a low-cost, efficient, transparent, liquid and accessible
markets, we built Realio – a digital investment platform platform that accommodates all types of issuers and investors,
combining cutting-edge blockchain solutions with from retail to institutional, and can scale to fit any market.
institutional-quality investing in assets previously inaccessible
to many investors. Value proposition:
• Modernizing custody of assets, how they are issued,
Our platform enables digitized issuance of securities, transfer analyzed and exchanged
and tracking of ownership and regulatory compliance. Our • Lowering costs and removing friction by automating
secure, distributed infrastructure provides a brand new trust and dis-intermediating unnecessary third parties
instantly accessible, global and borderless peer-to-peer • Improving access to and quality of data
marketplace. • Introducing the potential for enhanced execution and
increases in liquidity
Using a 2nd layer proprietary issuance and compliance
network to manage digital assets provides the best
combination of security and transparency by keeping certain
data out of the public domain though transparent to issuers
and investors, facilitating value-add features and functions
across multiple blockchain protocols.

We provide the tools to digitize real assets through our

proprietary compliance layer, adding clarity on regulatory
questions and a straightforward technological solution with
simplicity. Realio enables digital investments in any asset class

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 Whitepaper, March 2020

TECHNOLOGY INTRODUCTION

As an end-to-end solution for digital assets, we designed tokenization of assets can be accommodated on a number of
the platform from the ground up. Starting with custody “layer 1” public, permissionless blockchains utilizing shared
and storage, it is important we create a secure yet easy to standards and technical specifications. There are a number of
manage system for users to access both fiat and crypto- issuer controlled compliance restrictions that can be applied
assets. From a regulatory perspective, we chose to integrate and automated in parallel when using such an architecture,
an institutional quality custodian for fiat accounts while while providing token holders with transparency into such
giving users non-custodial crypto wallets for use with peer- controls and an ability to transfer ownership peer-to-peer
to-peer marketplaces. without middlemen. While our roadmap has indicated
the development of a fully decentralized network, this
Multi-currency Wallet whitepaper will focus only on our layer 2 solution referred
to herein as the Realio Issuance Network.
1. USD Wallet and Fiat Onramp: Once an investor passes
KYC, they are given a USD account on the Realio The Realio Issuance Network is a distributed ledger network
platform (through Prime Trust7 as custodian), enabling of independent parties who share an aligned incentive in
a seamless fiat onramp through ACH (Automated the development and growth of the ecosystem.
Clearing House), wire transfer and credit card. Bitcoin
and Ethereum assets may also be custodied with Prime It is comprised of various validator nodes, represented
Trust. by entities such as the foundations behind the various
2. Cryptocurrencies, Tokens, and Stable Coins: The wallet supported public blockchains on the Realio Platform (Fusion
system for crypto is designed to be non-custodial. This and Algorand are members), broker dealers, other issuance
places users on the Realio platform in control of their platforms and issuers, asset managers, PE funds, financial
own wallets while providing an automated and secure institutions and/or any other major stakeholders.
multi-currency key management system. The private
keys are encrypted, a salt is used for added security Members of the network (known as organizations) can
and users have optional levels of security with regard to issue assets and vote on network level matters such as
decryption methods. which projects are listed on the shared issuance portal and
3. Cold Storage: After tokens are purchased, they can RealioX. While this layer of the network is permissioned,
optionally be securely stored in cold storage through we are adding a level of decentralization to the issuance of
Prime Trust. securities which keeps issuers transparent and compliant,
adds another level of validation on the quality of digital
The Realio Network assets, and maintains security and privacy as needed for
such transactions while removing a single point of failure.
The Realio Network is a multi-layer solution designed to
allow the coexistence of regulation and decentralization The Realio Issuance Network consists of modular
by providing “layer 2” issuer controls in a modular, chain compliance and asset tracking protocols which record
agnostic protocol. By standardizing the asset creation, all transfers using a shared, chain agnostic security token
issuance and compliance functions in a single protocol, the standard to transmit ownership among users. While each

7 “Prime Trust | The Technology-Driven Financial Institution.” Accessed 8 Dec. 2019.

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 Whitepaper, March 2020

Figure: Realio Network

PRIMETRUST

REALIO
DEX SEND & RECEIVE
KYC INFORMATION
KYC
PLACE MODULE
ORDERS

TRADING ASSET
INTERFACE CREATION

USD TRADING INVESTMENT

ACCOUNT HISTORY HISTORY

USER ACCOUNT
WALLETS SETTINGS

STELLAR
USER ACCOUNT
Managed with the
Realio Issuance
FUSION Network

BINANCE
CHAIN

ALGORAND

RAVENCOIN

ETHEREUM

individual layer 1 blockchain has its own way of validating combining public audit-ability with the ability to control the
transactions publicly, there is a parallel validation process privacy of data.
that takes place within the Realio Issuance Network based
on automated issuer controls which seek to allow or disallow Interoperability
any asset ownership transfer on the public network.
There are many blockchains and platforms with large user
All transactions (and associated confidential/private bases competing to bring assets on-chain, however there are
information recorded as a part of the securities transaction) fewer quality investment projects than there are platforms
end up being hashed on both the public and private networks, currently.

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 Whitepaper, March 2020

Most platforms specialize only in tokenizing on Ethereum,

however Ethereum is plagued by network bottlenecks and a The landscape for
lack of ability to scale while there is growing consensus in the
industry that Ethereum is not an ideal fit for digital securities. digital securities
Interest is rapidly growing in networks such as Stellar, Fusion,
Algorand, Tezos, Raven, etc, while others such as Polymath is currently highly
have opted to move off of Ethereum and create their own
focused blockchain. On the institutional side, permissioned fragmented,
networks such as Hyperledger, R3 Corda or private ethereum
forks are becoming the implementation of choice. The furthering the
foundations for these various chains are well funded and eager
to grow adoption and bring tokenized value to their respective barrier to entry
ecosystems.
for both issuers
We propose a plug and play solution as a single point of
entry to this growing universe of blockchains, and connect and investors.
them to provide a seamless transition between chains and
standards so they all can benefit from the same investment
opportunities and user base of prospective investors and
ecosystem stakeholders. Modular architecture provides The Realio
flexibility for organizations to issue and trade tokens privately
among their own members, or publicly on the network among Network is
all organizations interoperably, empowering them to choose
what types of opportunities to provide their members. both shared
Organizations may vote at the network level, while their and inclusive
members (peer nodes, or individuals who stake RST within an
org) may vote at the organization level. of all industry
participants,
providing the
connective tissue
needed to drive
adoption.

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 Whitepaper, March 2020

NETWORK ARCHITECTURE

Security Token Standard agnostic. By placing the issuance and compliance protocol
on a layer 2 network, issuer controls become auditable,
Realio is developing a new security token standard, while asset ownership is recorded and transferred on public,
limiting ownership of the token to verified investors who permissionless networks.
have passed KYC and AML checks while building in other
regulatory items to address secondary market trading. The This allows users to buy digital assets and securities in a
token may only be held and traded in a compliant manner as safe environment, with lawful and necessary regulatory
set by the issuer on the network, based on which exemptions compliance validated independently by a group of credible
from registration were used or which jurisdictions were industry participants.8 The Realio Network provides the
targeted in the initial offering. Our token standard combines perfect balance between chain-interoperability, regulatory
required issuer controls with near permissionless purchaser compliance, trustless architecture and p2p transactions.
flexibility to transfer ownership peer-to-peer, and is chain-

NATIVE COMPLIANCE PROTOCOL

Developed in Hyperledger Fabric, the Realio Compliance This chaincode module registers the time stamp of
Protocol facilitates governance and legal security, providing acceptance and relates this information with the tokens
multi-jurisdictional compliance globally with a focus on U.S. the user has in their wallet on the public network. The
SEC exemptions from registration under Regulation S and buyer’s security tokens are directly linked and recorded
Regulation D (and in the future, Regulation A+ and CF). with this acceptance, allowing future demonstrations
for auditing and governance.
Features: • An issuer specific custom module for investment
documents/agreements and other required disclosure
• Integration of the chaincode modules in our Compliance documentation. The seller may make them viewable to
Protocol with public chains to release Security Tokens potential buyers in p2p and OTC trades. The hash of
only when pre-defined rules allow these documents is available on a public mainnet. The
• Oracle to read data from exchanges and other markets authenticity of the documents and timestamp for the
for specialized compliance conditions such as rule 144. general public is guaranteed.
The Data compiled register is in a specific chaincode • Capitalization Table module: Each includes current
module enabling the time stamp, data traceability and token holders, their asset count, value, time of purchase,
transparency for future auditing and source.
• Built-in, digital purchaser agreements to comply
with Reg S and restrictive legend covenants during
purchase/transfer of tokens to/from whitelisted wallets.

8 “hyperledger-fabricdocs Documentation” 14 March 2018

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 Whitepaper, March 2020

PRIMARY CHAINCODE MODULES

KYC/AML/Accreditation Whitelisting protocol (ie. RIO) belong on public chains. Subsequently, we

created chaincode to automate and validate tokenization
Our network architecture enables us to on-board a large fee distribution to RST holders, market maker rewards for
quantity of users and place KYC and accreditation data liquidity providers and “block rewards” to node operators in
on-chain, while preserving data privacy and removing our ecosystem’s native asset RIO. Similar to the mechanism
unnecessary weight from the layer 1 blockchains that digital used for the asset issuance module, rewards and fee
asset ownership resides on. This interoperable whitelist distributions are managed on-chain and transparent.
management module provides issuers with the user data Changes to the incentive structure and block reward
they require and integrates with our automated compliance protocol requires consensus of the member organizations.
protocol features.
Cap Table, Investment Tracking and
Asset Tokenization and Issuance Distributions of Profits

Assets are tokenized and issued through the network, and Post-issuance, the network stores and tracks transactional
once approved by the members, automatically posted to data and ownership transfer, updating cap tables for issuers
the issuance portal for purchase by whitelisted users. Once in real time with verifiable data and visualized through a
a new issuance is on-boarded and submitted for approval, user dashboard. Through the use of our native stable coin
the rest is automated and issuers can track progress on or any other crypto asset, profit distributions can be easily
their dashboard. The chaincode in this module integrates automated from the issuer’s operating account.
with the compliance protocol and automates token minting
on the issuers preferred public blockchain. All purchases Annual reports and other types of reporting can be easily
by whitelisted users and applicable agreements and generated by either the issuer or the investors, as both users
documentation related to the transaction are recorded are pulling from the same auditable data source.
privately on-chain and linked to the hash of the transaction
minting new tokens on the public chain. On-chain cap tables contain the full list of current token
holders, their asset count, value, and time of purchase.
Network Fees, Market Maker Rewards and
Block Rewards Secondary market trading – P2P and OTC
Transactions
As a layer 2 network, the incentive structure for securing
the network with nodes and for adding economic value and Lock-up periods and flowback restrictions (along with KYC/
liquidity through market making is inherently different from AML and accreditation whitelisting as mentioned above)
that of typical PoW or PoS blockchains. First, the Realio are the key regulatory filters applied to and integrated
Issuance Network rewards participants with assets issued with our P2P and OTC trading solutions. Our primary P2P
on supported layer 1 chains interoperably rather than marketplace utilizes the Stellar decentralized exchange and
limiting a native asset to a permissioned network. This is on-chain orderbook, while integration with our compliance
done for a few reasons which we cover elsewhere in this protocol restricts transactions at the network level based on
whitepaper, but mainly because we believe these types of applicable regulatory filters. OTC transactions take place as
permissionless digital assets issued through the incentive atomic swaps directly on the Realio Network, privately, and

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 Whitepaper, March 2020

can be negotiated directly with other users P2P via built-

in chat features or facilitated through a licensed member
organization.

Chain Interoperability

Standardization of a layer 2 protocol allows for

interoperability across all supported chains in the Issuance
Network, providing purchasers with their choice of
blockchain to hold their assets. Automating the mint/burn
controls of the issuance account on-chain at layer 2, assets
can be seamlessly swapped across blockchains in order to
take advantage of the unique features of each. For example,
an asset issued on the Fusion blockchain can be traded on
SDEX seamlessly through RealioX without the user knowing
the swap ever took place, as it all happens instantly behind
the scenes and is completely auditable as the transaction
occurred through chaincode connected with the issuance
account. There is no need for a 3rd party custodian in the
process as the swap takes place through the issuer.

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 Whitepaper, March 2020

LAYER 1 SUPPORTED BLOCKCHAINS

STELLAR

We have issued our initial digital assets (RIO, RST and rUSD) as Stellar tokens. Stellar is an open-source, decentralized protocol
that allows for fast, cross-border transactions between any pair of currencies and assets issued on its network through
its design as a 100% on-chain decentralized exchange. Apps built on Stellar give users access to a borderless, frictionless
marketplace9.

The regulated asset approval flow for Stellar10 utilizes built-in compliance features, such as sep0008 and authorization flags,
which enable network level issuer controls and transfer restrictions that can be automated through the Realio Issuance Network.

RAVENCOIN

Ravencoin is a peer-to-peer network built as a fork of the Bitcoin code, designed to efficiently handle one specific function:
the transfer of assets from one party to another11.

Issuers of securities on the Ravencoin network benefit from built-in features such as “Restricted Assets” and “Tags” that
provide layer 1 network level issuer controls. Restricted Assets are tokenized assets on the Ravencoin platform following rules
set by a token issuer. Tags are needed so movement of Restricted Assets is restricted to only those addresses whitelisted
through the Realio Issuance Network, which automates tagging throughout the lifecycle of the securities issued. Tagging may
be used for KYC, accreditation, affiliation, and limits on the number of addresses that may hold tokens.12

FUSION

Fusion is an innovative solution to remove obstacles between various cryptocurrencies and to streamline the globalization
of blockchain technology. A core feature of the Fusion protocol is distributed control rights management (DCRM), the
process that hands over the control of digital assets by individuals or centralized organizations to the decentralized nodes’
management. The distributed generation and distributed storage of a private key ensures that no single individual can access
the complete private key, which means that no single node can obtain the control of the digital assets under the state of
distributed control rights management.13

9 “What is Stellar? - Stellar Development Foundation.” Accessed 8 Dec. 2019.

10 “stellar-protocol/sep-0008.md at master · stellar/ stellar ... - GitHub.” 22 Aug. 2018. Accessed 22 Dec. 2019.
11 “Ravencoin - Ravencoin - Medium.” 31 Oct. 2017.
12 “Ravencoin — A Securities Token Roadmap.” 20 Dec. 2019
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 Whitepaper, March 2020

ETHEREUM
The intent of Ethereum is to create an alternative protocol for building decentralized applications. The code in Ethereum
contracts is written in a low-level, stack-based bytecode language, referred to as “Ethereum virtual machine code” or
“EVM code”.14

For releasing security tokens to Ethereum, we use a customized ERC-1400 token standard, briefly described here. The
contracts send requests to the Realio Issuance Network and then receive a confirmation if a user is allowed to purchase or
trade the asset.

BINANCE CHAIN

Binance Chain is a blockchain software system developed by Binance and its community. Binance DEX is the decentralized
exchange developed on top of Binance Chain. Binance Chain is essentially a digital asset creation and exchange platform.15

ALGORAND

Our platform security token, RST, is being issued as an Algorand Standard Asset (ASA). The Algorand blockchain enables
creation of frictionless financial assets. They provide users easy-to-use tools to issue financial products.

Algorand lets users generate their own fungible tokens, thus becoming their token managers. A token manager may:

• Generate a supply of new tokens

• Increase the circulating supply of the new tokens
• Freeze their generated tokens in a given account
• Transfer their abilities to a new token manager

Algorand allows multiple users, who hold possibly different fungible tokens and have negotiated a set of transfers of these
tokens, to execute all of these transfers by posting on chain a single transaction. Algorand provides a whitelist model for
privileged asset transacting, which allows only specific addresses that have been approved to transact within a specific asset,
that integrates directly with the Realio Issuance Network.

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 Whitepaper, March 2020

NATIVE TOKENS

The platform currently has three native tokens; RST, RIO Figure: RST Distribution
and RealioUSD, each detailed below.

RST

RST is issued as a security token to represent ownership

of the Realio Ecosystem. The Realio Security Token (RST)
represents an investment in the platform and ecosystem
and offers a revenue stream in the form of profit share.

Holders of over 10,000 RST can also run a node on the

Realio Network to validate transactions while earning block
rewards and additional revenues from issuance fees paid
out in RIO. RST is being sold through a security token
offering (the “STO), starting with a private sale at a $1 per
RST issuing price.

The RST token fund will own 100% of the Realio technology
platform and network, and have a maximum supply of
50,000,000 RST tokens. Half of the tokens (25M RST) will
be issued to the entity that provided all equity funding
towards the development of the platform to-date, which is
controlled by the founders, and 4.75M RST will be allocated
to individual team members and advisors. The remaining
20.25M tokens will be sold in multiple rounds via a private
offering, including bonus rounds.

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RIO Figure: RIO Token Allocation

RIO is a cryptocurrency and utility token16 for the Realio

Network and platform. There is/was no ICO, sale or
founder pre-mine associated with RIO and the distribution
mechanism is/was designed to be 100% fair to anyone
interested in the ecosystem. The maximum supply of RIO
will never exceed one hundred million (100,000,000). The
initial circulating supply of 7,070,000 RIO issued during the
airdrop will be the total supply until block rewards/market
maker rewards begin distribution on the Realio Network17.

Platform fees for tokenizing and trading will be paid in RIO.

There will not be any trading fees for market makers on
RealioX, while fees for market takers are currently calculated
at 0.1% of the trade’s value18. As a peer-to-peer network,
market makers will earn 100% of all trading fees paid by
market takers. Issuing a tokenized asset on Realio requires
a fee of 5,000 RIO, of which 2,500 RIO will be burned upon
issuance of the asset and the remaining 2,500 RIO will be has been or will be raised through any issuance of RIO.
distributed to wallets staking RST. There are a number of characteristics of RIO tokens that
distinguish them from securities. For example, one of the
The first stage of RIO distribution was through a publicly aspects of the Howey Test indicates any person receiving
announced airdrop that began in April, 2019 and ended on tokens will have a reasonable expectation of profits
November 29th, 2019. The airdrop was open to anyone, derived from the efforts of others, particularly the efforts
distributed 10,000 RIO to each recipient and ended with of the company’s management. For RIO tokens, recipients
a total circulating supply of 7,070,000 RIO. The RIO are receiving tokens for use on a functional platform and
distribution model will now be exclusive to block rewards not as a speculative asset and should have no reasonable
paid out to node operators on the Realio Network and expectation of profits since the tokens are not expected to
market maker rewards through RealioX. appreciate in value. If they do happen to increase in value
due to speculative trading by unrelated third parties on an
From a regulatory perspective, RIO was designed and exchange, that increase in value, will not be a result of the
issued to exist outside of the definition of a security, per efforts of management.
guidance issued by the SEC which touches on airdrops and
the Howey test in its recently published Framework for The SEC may, however, change their view and issue different
“Investment Contract” Analysis of Digital Assets.19 RIO was guidance in the future, which could potentially change the
not and never will be sold as an investment and no money classification of many crypto-currencies, including RIO. In

16 “Utility Tokens vs Security Tokens: Learn The ... - Blockgeeks.” Accessed 8 Dec. 2019.
17 “RIO by ... - StellarExpert.” Accessed 8 Dec. 2019.
18
Subject to change.
19 “Framework for “Investment Contract” Analysis of ... - SEC.gov.” 3 Apr. 2019. Accessed 16 Dec. 2019.

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 Whitepaper, March 2020

terms of utility value, RIO will be utilized on the platform to to verify the USD collateral value matches the circulating
pay fees for creating and issuing tokens for projects, listing supply of rUSD.
them on RealioX, trading fee payments/discounts, etc. RIO
will also function as the native gas20 of the Realio Network. rUSD acts as the primary fiat on/off ramp to the RealioX
decentralized network.
Utility functions of RIO include:
Since the Realio Issuance Network intermediates
• Payment of asset tokenization fees transactions between digital assets across different chains,
• Delegating a stake with a member organization to rUSD comes with an inherent mechanism to “transfer” from
participate in block rewards one chain to another with minimal or even zero loss of value.
• Holders of the original 10,000 airdropped RIO (less any
burned tokens or tokens used for RealioX fees) will be
invited to the private sale of RST (the platform’s security
token sale with profit share rights) that comes with a
bonus allocation
• Users must stake RIO to use RealioX: Taker fees will be
paid out of the staked RIO with 100% of taker fees paid
to makers or burned
• Users must stake RIO to become a Market Maker and
earn MM rewards: MM rewards are issued as new RIO
tokens; users do not need to be an MM to receive taker
fees for maker orders

RealioUSD (rUSD)

The value of cryptocurrencies tend to fluctuate dramatically

over short periods of time. This volatility can be alarming,
especially for users of a cryptocurrency, and mitigated
through the use of stablecoins. A stablecoin’s value may be
pegged to fiat money or to exchange-traded commodities
including precious metals.

rUSD is a stablecoin backed 1-to-1 with U.S. dollars held in

an account with PrimeTrust, an institutional quality, licensed
custodian and trust company based in the United States.
rUSD tokens can be purchased with and redeemed for U.S.
Dollars with KYC/AML approved accounts instantly on the
Realio platform. Regular 3rd party audits are conducted

20
“What is gas? – Blockchain Support Center.” 4 Oct. 2019. Accessed 8 Dec. 2019.

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 Whitepaper, March 2020

ROLE OF TOKENS tokenize assets on the platform. At the same time Market
Makers decrease total token supply and increase liquidity in
Value Flow the ecosystem.

Value Capture in the Realio Ecosystem happens through Every time an asset is tokenized there are two forces
tokenizing assets and bringing them onto the platform. influencing the macroeconomic environment of RIO.
Asset issuers pay fees in RIO and node operators are
rewarded in RIO for validating transactions. Market Makers 1. Burning 2500 RIO per tokenized asset.
add liquidity to the ecosystem and are rewarded in RIO. 2. Paying a fee of 2500 to the platform.

The main value exchange happens between investors and In the meantime, RIO also means revenue opportunity for
asset issuers/owners. A number of other actors must do these parties:
their part to maintain a healthy ecosystem. By using a native
currency, we enable the value creation of the whole network 1. RST holders who collect dividends from the platform.
to be represented by a single, programmable currency. This is essentially the 2500 per asset fee paid out to
RST holders at set intervals.
Users can stake RIO to become traders on RealioX, burn RIO 2. Node operators receiving block rewards for validating
to become Market Makers or stake their RIO with a member transactions.
organization of the Realio Network to earn block rewards.
Added value in the ecosystem flows from issuers who

MAKER & BLOCK

REWARDS

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Since the ecosystem includes an exchange, Market Makers assets on to the Ecosystem. As the current supply from the
are introduced to provide liquidity. RIO’s value is affected by airdrop is 7.07M, with the current fee structure, the current
the following principles: maximum before supply increase is economically needed is
<1500 assets.
1. Users stake RIO on RealioX to use the platform and pay
the (variable) 0.1% taker fee. REWARD MECHANISMS
2. Users earn taker fees paid by other users in RIO for
placing maker (limit) orders . Growth projections of the Realio Ecosystem informs us
3. Users stake RIO to become Market Makers. about the liquidity and velocity at which tokens are being
4. Market Makers earn rewards in newly minted RIO for minted, and how tokens will be burned, with equilibrium as
providing liquidity. a basis for the RIO model.

Based on current fees for asset tokenization, the current Node operator rewards will fluctuate between being paid
model allows up to 20,000 assets being brought onto the out from the platform and receiving block rewards for
platform. Since we are looking at also burning RIO for minting new tokens based on an algorithmic equilibrium.
becoming Market Makers and node operators, realistically, Ideally, the supply and demand for tokens will balance each
the theoretical maximum for assets on the platform should other, so within a specific time frame the revenue made by
be around 15,000 assets. node operators and RST holders should equal the sum of
fees paid to the platform (after burn).
By calculating with an average asset value of $50M this
means that at equilibrium, Realio Ecosystem would be The core reward mechanisms for RIO therefore are aimed
managing over $1.5T worth of assets. This gives us a at maintaining this equilibrium long term while being
comfortable large enough margin to operate under, as in aligned with our growth plans. Exact block rewards will be
the first 5 years we’re unlikely to bring more than 100-200 confirmed closer to network launch.

Table: Actors and corresponding economic interests on the Realio network

Actors Benefit Effort / Resource Provided Comments

Shareholders of Revenue / Profit share RST purchase in the STO Tiered bonuses (rights, running
Realio nodes)

Asset Issuers/ Increased liquidity through Pays platform fees In early models, payout in RIO, a
Owners tokenisation / digitisation of native cryptocurrency
assets

Node Operators Revenue in the form of RIO Computing Power RST buyers can obtain the right to set
up nodes by buying a certain amount

Users/Investors Access to Investments, Invests in projects, provides

Asset Management Platform liquidity to DEX ---
and DEX

Market Makers Revenue in RIO Provides liquidity on RealioX ---

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NODE OPERATORS

Users of the Realio Ecosystem have the capability to run of each Org can delegate their stake to the Org or run a peer
nodes by staking tokens in their wallet. node within the Org. Orgs can create private “channels” and
give permission to peer nodes to create private “channels”.
Layer 2 of the Ecosystem is scheduled to launch in Q4 Orgs can charge a fee on delegated stakes and peer node
2020 with initial members of the Realio network running block rewards to create competition among Orgs.
“organization nodes”. RST holders who stake a minimum
of 10,000 RST can run peer nodes with any of the initial Peer Node: a node run by anyone staking RST with any
member organization nodes. RIO holders who stake a Organization. Basic permissions give access to network
minimum of 10,000 RIO may delegate their stake with any level block data (non private issuance and transaction data)
organization node. which is viewable in a block explorer.

Description of Node Types Delegated Stake: any holder of RST or RIO may delegate
their stake to an Org to share in Block Rewards.
Organization Node: Similar to a full validator node or
masternode, run by Realio Network Organizations. Members

Table: Node Operators

Peer Nodes RST: costs/features/ RIO: costs/features/

and Staking permissions permissions

Cost 10,000 RST 10,000 RIO

KYC required not required

Actions • Run a peer node, or • Delegate stake with an initial

• Delegate stake with an initial member organization member organization

Benefits • Earn tokenization fees paid by issuers • Earn block rewards in RIO
• Earn block rewards in RIO
• Voting rights for network matters such as
compliance protocol updates and which projects are
to be listed on the investment portal and realioX
• Profit share / Ownership stake in Realio Platform

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PLATFORM

The Realio Platform provides users with all services in a single secure application, where assets are listed for investment and
traded peer-to-peer. Tokenized funds can also be managed throughout their life cycles on the platform. Asset owners may
join Realio to leverage its platform and services to create special-purpose financial vehicles with tokenized equity. Realio
offers investors the advantage of a secure multi-currency wallet, fiat on-ramp, access to an issuer listing portal and peer-to-
peer multi-currency swaps.

The Realio platform consists of a web-based platform and mobile app where users may easily tokenize assets and/or create
their own diversified investment portfolio. Initial functions of the web-based platform include:

User Account
User registration/sign-in; identity verification through KYC
and AML checks and procedures; accreditation verification

Wallets
Dashboard to view the balance and performance of
holdings; wallet overview (all wallet transactions &
balances); token Swap Interface Access (p2p marketplace)

Investment Portal
Ability to purchase tokens and invest in projects

Portfolio Management
Manage options for staking tokens to receive dividend
distributions; historical performance data

Issuance Portal
Apply to become an issuer on the network; create and
launch custom tokens utilizing the Realio blockchain
infrastructure

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 Whitepaper, March 2020

MULTI-CURRENCY WALLET SYSTEM

The wallet supports fiat in addition to assets on several KYC and Custody Accounts
layer 1 permissionless blockchains. By synchronizing the
different chains through virtual copies, a record is kept of KYC and accreditation verification is the primary compliance
activity on both blockchains. More features of the wallet gatekeeper for all digital securities issuance portals.
system include: Therefore, we chose two of the best companies in this
space to collaborate with as 3rd party providers, assuring
• Secure Non-Custodial & Custodial Wallets personal data is safe and kept private:
• Multiple Crypto-currencies and Tokenized Assets.
• Stable Coins (rUSD) • Prime Trust21 — Custody and KYC Provider for Realio.
• Tokenize and Swap Assets in real-time PrimeTrust is a chartered, regulated and insured trust
company with full fiduciary powers. Other clients
Deposits and Withdrawals include TUSD, Polymath, Stronghold and OKcoin.
• VerifyInvestor — Investor Accreditation Verification
Deposits and withdrawals of USD and fiat currencies Provider for Realio. VerifyInvestor was recently acquired
are managed using PrimeTrust custodial accounts which by tZERO and is part of their tech company portfolio.
require KYC/AML review prior to opening. Deposits and
withdrawals of crypto into the non-custodial Realio wallets Realio does not store certain sensitive information (such as SSNs),
are at the discretion of each user. so will never be the source of a leak of such content.

PORTFOLIO/ASSET MANAGEMENT

Users may become issuers after specific criteria are met. Real assets may then be tokenized and capital raised through
tokenization, leveraging Realio’s unique security token offering process and global distribution network.

The platform will automate many asset management functions, including distributions of profits, new token issuance, cross-
chain interoperability, etc.

21 https://primetrust.com/

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USER INTERFACE DESIGN CONCEPT

The Realio UI is designed to be elegant, simple and effective enough for anyone to invest in, manage and trade digital assets
from anywhere in the world. Anyone with a laptop or smartphone and an Internet connection may participate in the Realio
Network. The customizable interface comes in light and dark schemes, offering users a personalized experience.

Dark Scheme GUI

Light Scheme GUI

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 Whitepaper, March 2020

RealioX | Decentralized Exchange

OVERVIEW OF A DECENTRALIZED EXCHANGE

A decentralized exchange application22 is built on top of a decentralized exchange protocol, adding an on-chain or off-chain
order book database and a graphic user interface (GUI) and/or APIs so that the information is easily accessible. Overall, a
decentralized exchange application may be broken down into:

1. The blockchain platform & technical implementation

2. The counterparty discovery mechanism
3. The order matching algorithm
4. The transaction settlement protocol

22 “Deconstructing Decentralized Exchanges · Stanford Journal of ....” 5 Jan. 2019. Accessed 8 Dec. 2019.

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 Whitepaper, March 2020

A decentralized exchange application may not be fully work for hackers and makes an attack meaningless.
decentralized in all four components (Ethereum based 2. Low risk of manipulation: There is less reliance on
applications for example). Note that for many decentralized a centralized party to host and operate the order
exchange applications, one or more components may be off- book. There may be a centralized GUI (Graphics User
chain/centralized (such as Idex, 0x or other smart contract Interface) for the order book, but any independent
based DEXs), or otherwise feature economic incentives to party will be able to create separate GUIs and populate
promote a tendency to centralization. it with the on-chain data. If hosting and operating of
the order book is distributed across independent, non-
Examples of on-chain order books include the Bitshares colluding validator nodes, there is no centralized point
and Stellar decentralized exchanges. In the Stellar network, of attack, compromise, or liability that would result in
users submit orders which are hosted on a persistent and the order book being shut down or specific orders being
public on-chain order book in the Stellar distributed ledger. restricted by another party.
Information about this order book is broadcast to all Stellar 3. Independence from middlemen: The distributed
validator nodes and is viewable by the public. When two architecture protects the exchange from interference
orders intersect in price, the trade is automatically executed by local or international authorities. Decentralized, on-
and settled by the Stellar network. chain order book hosting means one does not need to
trust centralized, off-chain actors, to accurately and
The advantages of decentralized cryptocurrency exchanges reliably publish or broadcast order books.
include: 4. Accessibility for different projects: In contrast to
centralized exchanges, a decentralized exchange
1. Security: Decentralized exchanges do not store user makes it possible not only to place orders for existing
assets. Therefore, neither hacker attacks nor the total cryptocurrencies, but also to create new ones directly
collapse of the exchange can lead to a loss of funds. in the system.
The absence of a single entry point, through which one
could gain access to all assets and data, complicates

REALIO’S DEX GUI

One of the features that set Realio apart as an issuance issuers can build in enough control to be sure secondary
platform is the built-in liquidity accessible through its DEX markets are compliant, instantly listing their tokens on
GUI. No KYC is needed to access the DEX or to trade RealioX.
any tokens on a decentralized network. Still, the Realio
compliance protocol will not allow transfers between users Institutional users may like the OTC functions of RealioX,
(for platform issued tokens) unless verification has been and the ability to instantly make large trades with buyers
cleared. in their network without requiring any middlemen or other
interfering complications associated with exiting a large
Given that the design of our compliance protocol operates position. For institutional issuers of funds with long lock-
at the network level, assets issued on Realio will follow the ups, RealioX allows their investors to interact in private
same rules on any DEX UI outside the realio ecosystem, but channels and negotiate trades directly with each other,
will benefit from added functionalities within it. This means potentially avoiding redemptions.

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 Whitepaper, March 2020

Through the interoperability features of the Realio Network, Finally, Realio’s decentralized exchange enables digital assets
tokens issued on any supported blockchain will be able to to be exchanged 24/7 (after lock-up periods have been met)
utilize this built-in DEX functionality, enabling P2P (wallet globally (after compliance criteria have been met), contributing
to wallet) bulletin board style trades. to market efficiency and financial inclusion for its users.

MARKET MAKER REWARDS

Realio will offer market maker rewards for users of the RealioX pay the taker fee at all. In these cases, it will be necessary to
GUI. These include implementing trading fees to market mint new RIO tokens to pay the maker rewards to the maker
“takers” and paying them to market “makers.” Currently, of such trade. On the inverse side, some makers will place
Realio will implement taker fees in RIO (Realio’s native their orders outside of the Realio wallet service, yet takers
utility/cryptocurrency token) and pay 100% of those fees to on Realio will have already paid the fees in RIO. When this
makers. Given that RealioX shares the decentralized Stellar particular situation/edge-case occurs, the fees will be sent
order book, some takers may be users of other platforms back to the RIO issuing account and burned.
outside of the Realio wallet service and therefore will not

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 Whitepaper, March 2020

THE REALIOX TRADING GUI

Realio is prepared to launch two different interfaces for Advanced Trading Interface
trading tokens on the decentralized exchange. The first
is a “Swap” feature built into the Realio wallet GUI page A more advanced trading interface is being developed by
that is easily accessible and does not require knowledge Realio that will look and feel like many other centralized
of advanced trading features typically found on trading exchanges currently operating. While providing more
venues. The second is the advanced trading interface, built advanced functions for traders, the basic infrastructure will
with dedicated traders and investors in mind. be the same as the “Swap” services mentioned above.

The Realio Wallet Service “Swap” Function Some of the advanced trading features in the roadmap
include decentralized Futures and Margin trading functions
Primary functions of the Realio wallet “Swap” service are and dark pools, which are being evaluated for development
similar to those of a typical exchange, however the interface given the large market demand for these products.
is much more simplified:
1. Price Chart – Price charts will be displayed with public
data available via the Stellar Horizon API and viewed
with a TradingView chart API.
2. Mid-Market Price – Real-time price data will be
displayed from public data via the Stellar API.
3. Effective Price – Realio’s backend will calculate the
“effective price” of executing a market order, based on
available order book info.
4. Transaction Fees to be paid (in RIO) – Realio’s backend
will calculate the fees to be paid in RIO for the trade, or
conversely the rewards to be earned by a maker.
5. Orderbook (on SDEX) – a graphic display of the Stellar
order book will be available.
6. Open Orders – all open orders may be viewed with
order and transaction history.
7. OTC Order – a bulletin board style order posting system
will be available to post orders off-chain and negotiate
directly with other users to conduct peer-to-peer
transactions. These orders do not use the Stellar DEX
and use custom Realio code to execute an atomic swap.
8. Token Info – Information on tokens or investment
vehicles will be available to view on this page.
9. Market/Limit Orders – both market and limit orders
will be available.

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 Whitepaper, March 2020

PROVIDING MARKETING FOR PROJECTS

Additional value to the platform will be created by our ability We may recommend a few small test campaigns initially to
to provide marketing services to projects issued on Realio. get a better idea of costs before scaling up to a full marketing
Project sponsors will benefit from full-service marketing budget.
assistance, including strategy outline, ad platform selection,
account build, image/copy creation, optimization and Community Building Strategy
reporting. Handling clients’ marketing work ensures projects
opting to build on Realio will be successful with increasing A brand community can be a powerful, supportive strategy to
awareness and building their community. develop Realio projects. Building a community across social
channels such as Telegram, Medium, and Reddit is key to
This provides additional value to the platform and makes it an build interest organically.
attractive offer to prospective projects.
Our team will post regularly across social channels, interact
Identification of a Customer Funnel with the community and answer questions to demonstrate
the legitimacy of the project.
The Realio team will identify the ideal customer flow through
the client website from cold lead through conversion. A Increasing the subscriber/follower base may include an
custom landing page may be created for cold leads. influencer marketing campaign and a bounty campaign.

Value is created by generating awareness and driving interest. Identification of Marketing Platforms
Promotion of a newsletter and social channels helps stay in
touch with visitors who don’t initially convert. Marketing platforms like Facebook Ads, Google Ads,
YouTube, and Instagram will be evaluated per project. We will
A retargeting strategy specifically marketing to subscribers provide recommendations on which platforms are best, and
not yet invested would be beneficial. Creating a sequence recommend marketing budgets and estimated results.
of video or image ads across platforms will keep audiences
informed and engaged with the project. Determination of Marketing Budget

Identification of KPIs through the Funnel The marketing budget for each project will be recommended
according to the agreed upon KPIs as well as the effectiveness
The team at Realio will work with each project to determine of the sales funnel.
their KPIs (Key Performance Indicators such as cost per lead,
cost per newsletter signup, or cost per investor) and create Example: Project ABC plans to sell 25M tokens. Based on our
effective marketing plans. above funnel we’re expecting a 10% site visit to newsletter
signup rate and 20% of newsletter signups will invest,

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 Whitepaper, March 2020

with an average customer value of $15k. Based on those Creating a Social Marketing Calendar
projections, 50 visitors are needed to generate one new
investor for $15k. Creating a social media marketing calendar provides a
framework for deploying a robust and multi-platform social
We anticipate driving qualified visitors at $50 each, putting media campaign
our customer acquisition cost at $2,500 each. In order to
reach our $25M liquidity goal, we’ll need approximately Example: Blogging 2x/week on Monday and Thursday, FB
1,667 customers. Based on those numbers we anticipate live streams weekly on Fridays, newsletters 2x/week on
we’ll need a total marketing budget of approximately $84k. Wednesday and Sunday, etc.
Please note: these numbers are hypothetical.

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 Whitepaper, March 2020

TEAM AND ADVISORS

REALIO FOUNDING TEAM

Derek S. Boirun Aaron Gooch

Co-Founder | Chief Executive Officer Co-Founder | Chief Technology Officer

Derek earned his bachelor’s degree from the University Aaron spent the last two years building tech for
of Florida in 2006, and subsequently received a dual various blockchain start-ups and has over 10 years
master’s, including a Master of Science in Real Estate of software and mechanical engineering expertise.
Development, from Columbia University in 2010. He He is a decorated US Air Force Veteran with a Medal
is an entrepreneur with experience in commercial real of Valor, responsible for disarming IEDs in Iraq. He
estate development, EB-5 capital investments and served as a robotics software engineer at iRobot
blockchain-based investing. He founded and acts as and Mitre Corporation. Aaron designed, built and
managing member of the American Economic Growth managed a collection of distributed systems across
Fund, focused on sourcing overseas capital for U.S. multiple cloud providers powering the global Red Bull
based real estate projects, which owns 2 regional TV application. In 2017, he founded the LA Blockchain
centers, hosts over 100 investors, and sponsors over Meet-Up, a group of over 600 blockchain enthusiasts.
$1.2 billion in total project cost. He was involved in Aaron began in the crypto world building Ethereum
the development of major urban real estate projects miners and selling bootstrapped hard drives.
at Tishman Speyer, with a property portfolio in excess
of $70 billion in total value worldwide.

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 Whitepaper, March 2020

Marcelo Moyano Ilyas Abayev

Co-Founder | Chief Experience Officer Business Development

Marcelo has managed an award-winning tech business Ilyas is an entrepreneur and has spent his career
since 1999 (MindSmack) specializing in multimedia in NY’s real estate world. He has vast experience
production and interactive content. Marcelo is known in multiple business development roles and in
as an expert designer and animator. His skills include structuring complex deals. Throughout his career, he
visual design, animation sequences, and application has been involved in several development projects,
development. He has led full-scale projects for clients multi-family value add acquisitions and deployment of
including DreamWorks, America Online, Citibank, private funds in the real estate sector. Ilyas received
Doritos, and MTV. Marcelo’s many international his Bachelor’s degree from Cornell University’s SC
accolades include Adobe Site of the Day for his work Johnson College of Business with a minor in Real
with DreamWorks SKG and 5 Favorite Website Awards. Estate and concentration in Real Estate Development.

Eduardo Romeiro Andre Salem

Co-Founder | Director of Engineering Blockchain Developer

Eduardo is a software engineer and entrepreneur André is CEO and co-founder of Blockforce. He holds
who is very passionate about technology and solving a degree in Business Administration from FGV and
complex problems. He was previously instrumental is studying Data, Economy, and Policy Development
in a successful smartphone telematics startup which at MIT. André has worked for several companies in
leveraged machine learning on driving data and enabled blockchain, leading their business, research, and
social impact products. As a senior engineer and blockchain innovation. He is a blockchain mentor for
solutions architect he helped deliver products for both Social Impact and a Professor at Blockchain Academy.
the enterprise and consumer market. Eduardo earned At Moeda, André is Head of Blockchain, responsible
a bachelor’s degree from Northeastern University for providing strategic and architecture solutions in
in 2013, double majoring in Computer Science and the technology field.
Biology.

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 Whitepaper, March 2020

Charles Kaufman
Legal Counsel | Lexcuity

Charles Kaufman practices corporate, securities, and business transactional law in Los Angeles. He has over 23 years of
experience representing companies in a broad range of industries. He has extensive experience advising public companies
on securities regulation and compliance and advising both new and established companies on public and private offerings
of equity securities, security tokens and debt securities, mergers and acquisitions, corporate governance, Sarbanes-Oxley
and Dodd-Frank regulation, global compliance, conflicts and special committee concerns, internal investigations, listing
and delisting, crisis management, and insolvency. His practice also includes international joint venturing and development
agreements in addition to supply and distribution agreements, licensing agreements, and general corporate transactions.
Charles has attended over two hundred public company board and committee meetings as board counsel.

ADVISORY BOARD

Nick Cerasuolo Behzad Taufiq

Advisor | Imperium Investments Senior Advisor | CIO Valentus Capital Mngmt.

Nick specializes in cross-border investment strategies, Prior to forming Valentus, Mr. Taufiq was the Head
with deep expertise in fintech, cryptocurrency, and of Credit Trading and Managing Director at Hudson
blockchain. Nicholas has significant operational Advisors (“Hudson”), from 2011 until March 2020.
experience with regards to legal entity structuring and Hudson is the asset manager of Lone Star Funds (“Lone
architecting structured financial products. Nicholas Star”), a private equity fund that has raised $85 billion
has advised on over 200 venture capital/private equity in capital since 1995 and specializes in distressed
transactions ranging from $5mm to $7B throughout investing. At Hudson, Mr. Taufiq was responsible for
his career. Nicholas is a Certified Public Accountant the oversight and trading execution of Lone Star’s
(CPA) and Chartered Global Management Accountant credit assets, which included US Residential Mortgage
(CGMA) and previously spent 11 years in M&A/public Bonds, Whole Loans and Corporate Loans.
accounting at Deloitte and PwC.

Copyright © 2019 Realio, All Rights Reserved 37

 Whitepaper, March 2020

John Liu Tron Black

Advisor | Chief Product Officer for Fusion Advisor | Ravencoin & Principal Dev. Medici Ventures

John has led product organizations and taken multiple Tron was the founder of two startups sold to publicly
Fintech products from ideation to multi-million dollar traded companies. He has worked in cryptocurrency as
revenue generation over 19 years. With his deep a miner, developer, investor, and trader. He was one
expertise in finance, data, and blockchain John advises of the first employees of TZero, and helped issue the
and leads various blockchain companies including first publicly traded SEC acknowledged parallel crypto-
WeDeFi, Fusion, and AXP. equity for Overstock.com, and the world’s first crypto
bond offering. He worked for ANX International, a
Fintech company that runs a Bitcoin exchange, and
offers Bitcoin debit cards. He is currently an advisor to
TZero and the lead developer for Ravencoin.

Enzo Villani Dail St. Claire

Advisor | Managing Partner Transform Strategies Advisor | COO Park Avenue Finance

Enzo leads corporate development, focused on Dail St. Claire has significant history building
business development, corporate strategy, stakeholder investment management firms for institutional
communications and aftermarket support. He is building investors from the ground up, bringing them to
security token infrastructure through investments market and controlling them for implementation
and advisory. He was Managing Director, Strategy, in asset management activity in the public and
for NASDAQ, where he co-founded NASDAQ Global private markets. With over 20 years of experience
Corporate Solutions Group. He co-founded and became as President & Chief Operating Officer for financial
Chief Strategy Officer for SAGE Holdings, where he institutions, Ms. St. Claire launched and managed
completed a $200 million strategic M&A roll-up of five several SEC-registered investment advisors, private
Tier-1 communications firms, including DF King & Co. equity, private credit and liquidity funds.

Copyright © 2019 Realio, All Rights Reserved 38