Instrument · TM Float Token
Tokenized equity — a 1:1 wrapper over real mining shares.
A tokenized equity instrument that behaves like stock: a 1:1 wrapper over real shares of a mining company held in custody. The holder receives share-price tracking, dividend pass-through and the full bundle of shareholder rights, including voting — economically a tokenized share. It is not a note and carries no coupon.
UNDERLYING
Mining-company shares held 1:1 in custody as investment securities under UCC Article 8. A live beta tokenized more than $7M of OTC-market shares across three issuer implementations, backed 1:1 by issuer shares.
HOLDER'S POSITION
Beneficial holder of an equity interest in the custodied shares. The full bundle of shareholder rights — voting, dividends and other economic and governance rights — flows through. The custodian votes solely on holder instruction, pro rata to an on-chain record-date snapshot.
RIGHTS PASS-THROUGH
Four things must be papered: (1) a wrapped share class that itself carries voting; (2) an on-chain record-date snapshot; (3) a fractional-vote aggregation rule; (4) custody terms obligating the nominee to vote per holder instruction. Proxy and beneficial-ownership rules apply above the thresholds.
ECONOMICS & LIFECYCLE
Tracks the underlying share price with dividend pass-through; no fixed coupon and no maturity. As a Restricted Security, resale is subject to the Rule 144 holding period, after which it may trade on the P2P Exchange.
LEGAL CHARACTERIZATION
An equity security — most directly stock or a certificate of interest; no Reves analysis applies. Offered under Reg D Rule 506(c) or Reg S. The custodian's record-holder vs. nominee role is determinative of title and must be papered.
COMPARABLES
Regulated security-token issuance and tokenized-equity rails; the closest economic analogue is the depositary-receipt structure.
TMFT is the only family with live execution proof. The beta predates the platform's current EVM / ERC-3643 architecture; any citation of it discloses the subsequent migration to the canonical stack.
