Docs · Explanation
Explanation
What Klyveth does
Klyveth is a settlement desk for tokenized real-world assets. A seller offers a compliant RWA A-Token at a fixed aUSDC price. A buyer who satisfies the compliance rules of both assets settles atomically: the RWA moves to the buyer and the payment moves to the seller in a single transaction, or neither moves.
Atomic delivery versus payment
Delivery versus payment means the asset leg and the payment leg are inseparable. The desk performs both transfers in one transaction. If either transfer fails, the EVM reverts the entire transaction, so no half-completed trade can exist.
CVI and identity eligibility
CVI is Cleanverse Verified Identity. Each wallet must hold an A-Pass. The desk runs token-specific verify_apass checks that evaluate the actual rules of each asset against the wallet A-Pass attributes, plus query_apass reads for tier, state, expiry, and KYC commitments.
CVA and clean funds
CVA is Cleanverse Verified Asset. The payment leg uses aUSDC, a clean-funds A-Token whose transfers are gated by compliance rules. Paying with aUSDC means the settlement runs in the clean-funds perimeter, not arbitrary tokens.
Why a settlement clears or refuses
The desk evaluates four participant-to-asset relationships. If all four pass, the relayer signs a cleared packet. If any fails, it signs a denied packet with the exact failed leg and reason. If the provider is unavailable or the response is ambiguous, nothing is signed and settlement pauses.
How attestations work
The relayer signs a short-lived EIP-712 packet binding the exact listing, actors, assets, amounts, outcome, nonce, and a five-minute deadline. The contract verifies the immutable signer, the listing binding, freshness, and the outcome before transferring. The packet is never stored off-chain; the contract consumes its digest once.
Relayer trust assumptions
The contract enforces signature, binding, freshness, and outcome on-chain, but the compliance truth comes from Cleanverse and is attested by the relayer. A compromised relayer key could sign false packets; the desk is not a production-grade trust model.
Receipt guarantees
A CLEARED receipt proves the desk accepted a valid packet, the exact legs moved, and the KYC commitments were bound at that moment. A REFUSED receipt proves the reason and that no funds moved. Receipts do not prove the identity data corresponds to a real person.
System boundaries
The desk is non-custodial: listings record intent and never hold assets. It supports one RWA asset (KLYG) and one payment asset (aUSDC) on Monad Testnet. There is no order book, price discovery, multi-asset support, or mainnet deployment.
Monad integration and the role of KLYG
Everything runs on Monad Testnet, chain ID 10143. KLYG is the project-issued RWA A-Token used as the asset leg, issued through the Cleanverse v3 launch API and minted under the MINTER_ROLE.
Testnet and synthetic-data model
A-Passes are fictional sandbox identities generated without real documents. KYC commitments on receipts are synthetic hashes. Nothing on this desk is production KYC or a regulated compliance system.