CNBM

Executive Summary: CNBM – Pioneering a Decentralized Monetary Future

The Crypto Native Backed Minting (CNBM) project is a groundbreaking initiative in decentralized finance (DeFi), redefining money creation and global trade through a transparent, non-custodial, and asset-backed ecosystem. CNBM introduces CNCurrencies—stablecoins like CNUSD, CNEUR, and CNAED—designed to serve as reliable, scalable, and inherently valuable monetary units for the DeFi era.

At its core, CNBM leverages the Dual Value Tokenization Model (DVTM) to split volatile assets (e.g., ETH, BTC, or tokenized gold) into Stable Tokens (CNCurrencies) and Volatile Tokens (RC Tokens), ensuring stability while preserving market exposure. DBanks, the ecosystem's financial backbone, mint CNCurrencies using diverse collateral, initially cryptocurrencies and soon tokenized real-world assets (RWAs) such as gold, silver, real estate, and equities. This multi-collateral approach enhances the credibility, stability, and supply scalability of CNCurrencies, making them resilient and accessible to a global audience.

The PD Token and PD Assembly empower stakeholders to govern and scale the ecosystem. Primary Dealers (PD Token holders) mint CNCurrencies, set collateral parameters, and share 100% of protocol revenue, fostering a community-driven model rooted in soft consensus. Meanwhile, RC Tokens enable users to retain the volatile value of collateralized assets, offering liquidity, zero-interest loans, and flexible financial strategies without liquidation.

The CN Forex Market is CNBM's vision for global commerce, enabling direct trading of CNCurrencies (e.g., CNEUR/CNAED, CNUSD/CNTRY) and establishing a decentralized platform for discovering exchange rates. By eliminating the US dollar as an intermediary and leveraging the uniform, multi-collateralized backing of CNCurrencies, this market empowers borderless, low-cost trade for communities worldwide.

By integrating RWAs, CNBM bridges traditional finance and DeFi, ensuring CNCurrencies are backed by credible, tangible assets. This not only scales the ecosystem but also reinforces the intrinsic value of CN currencies, reducing reliance on volatile cryptocurrencies and attracting diverse users, from institutions to individuals.

Vision: CNBM is more than a DeFi protocol—it's a transformative framework for financial sovereignty. By combining innovative tokenization, decentralized governance, and a robust forex market, CNBM creates a 24/7, transparent, and equitable monetary system. With CNCurrencies as a trusted medium of exchange, CNBM paves the way for a future where global trade thrives without intermediaries, and financial access is universal.

Competitive Advantages and Differentiation of CNBM

CNBM redefines decentralized finance (DeFi) by integrating real-world assets (RWAs) into blockchain through its Dual Value Tokenization Model (DVTM), CNX settlement protocol, and decentralized infrastructure. As a comprehensive, transparent, and community-driven ecosystem, CNBM addresses key gaps in RWA tokenization and DeFi, distinguishing itself from competitors. Below are its core competitive advantages:

1. Comprehensive RWA Tokenization
   CNBM tokenizes a wide range of assets, including CNCurrencies (e.g., CNUSD, CNEUR, CNAED) and CNAssets (e.g., CNGold, CNOil, CNTesla), backed by crypto (e.g., BTC) and real assets (e.g., gold, real estate). Unlike crypto-only protocols like DAI or centralized platforms like Paxos, CNBM ensures stability and global relevance.
2. DVTM Innovation
   DVTM splits assets into stable (CN) and volatile (RC) tokens, eliminating centralized oracles while ensuring stability and flexibility. Backed by both crypto and real assets, CNBM tokens offer trust and liquidity, surpassing synthetic models reliant on over-collateralization.
3. Security via Immutable DBanks
   CNBM's decentralized, immutable DBanks manage collateral and tokenization transparently, preventing manipulation and systemic risks. This makes CNBM more secure than semi-custodial platforms like Tether Gold or mutable protocols.
4. Multipolar Decentralized Markets
   CNBM enables peer-to-peer trading through CNForex, CNStock, and CNCommodities markets (e.g., CNEUR/CNAED, CNTesla), discovering true rates without dollar intermediaries. This contrasts with centralized exchanges or dollar-tethered DeFi protocols.
5. Advanced Financial Tools with RC Tokens
   RC tokens capture market dynamics and enable derivatives or lending, making CNBM ideal for professional investors and DeFi developers, unlike simpler protocols like USDC.
6. Decentralized Exchange with CNX
   The CNX protocol, under pilot development, facilitates custodian-free swaps of CN tokens for crypto (e.g., BTC) or real assets (e.g., gold). This bridges DeFi to the real economy, unlike purely digital protocols.
7. Mass Adoption via Local Integration
   Supporting multiple blockchains (e.g., Ethereum, Solana) and regional CNCurrencies (e.g., CNAED), CNBM integrates with e-commerce and payment platforms, driving adoption in diverse markets, unlike Western-focused stablecoins.
8. Community-Driven Governance
   Fully community-owned, CNBM is governed by PD token holders who manage the protocol and earn 100% of revenue. This equitable model contrasts with founder-centric DeFi projects.

Why CNBM?

CNBM's DVTM, immutable DBanks, CNX, and multipolar markets create a decentralized ecosystem ensuring stability, transparency, and global access. By overcoming centralized intermediaries and dollar-centric systems, CNBM empowers users for a fair, inclusive financial future.

CNBM: Redefining Real-World Assets for the DeFi Future

Integrating real-world assets (RWAs) into blockchain technology is essential for Web3's future. It strengthens financial systems and fosters sustainable, inclusive digital economies, enabling global participation in an open and fair financial system.

The Problem with Current RWA Integration

Current RWA tokenization approaches face significant challenges:

• Centralized intermediaries dominate, requiring trust in opaque third parties.
• Synthetic models aim for decentralization but rely on high collateral ratios and unstable mechanisms.
• These models simulate price rather than capturing intrinsic value.

The CNBM Solution

CNBM introduces a transparent, intermediary-free framework that connects real-world assets to DeFi using fully on-chain mechanisms. Unlike synthetic models that mimic prices, CNBM anchors tokens to the intrinsic value of crypto-native assets, ensuring trustless and auditable operations.

Dual Value Tokenization Model (DVTM): A System for Splitting Volatile Assets into Stable and Dynamic Tokens

The Dual Value Tokenization Model (DVTM), developed by the initial development team, is an innovative framework that splits volatile assets (e.g., cryptocurrencies or tokenized gold) into two complementary tokens while preserving their total value. This model produces a Stable Token and a Volatile Token, each serving a distinct purpose in the DeFi ecosystem.

Stable Token (Token A):

• Maintains a fixed value (e.g., $1)
• Ideal for use in financial operations such as payments, accounting, or savings
• Immune to market price fluctuations

Volatile Token (Token B):

• Fully absorbs the asset's price volatility
• Suitable for investors seeking market exposure or speculative opportunities

Core Principle:
Stable Token + Volatile Token = Total Market Value of the Underlying Asset

Key Features of DVTM:

• The Stable Token remains unaffected by market volatility
• The Volatile Token reflects all price fluctuations, ensuring the combined value always matches the underlying asset's current price
• Each token operates independently and fits different financial use cases
• Both tokens are directly derived from the original asset; they are not newly created synthetic assets but represent inherent parts of the same underlying asset

Role in the CNBM Ecosystem:

DVTM serves as the foundational mechanism behind Dbank smart contracts, enabling:

• Stable Tokens to be used for pegging decentralized currencies like CNUSD and CNEUR, or real-world asset (RWA) tokens such as CNGOL and CNOIL
• Volatile Tokens (called RC Tokens) to function as new financial derivatives, representing the residual, non-stabilized market value of the asset. RC Tokens can:
  • Be used as speculative or investment instruments
  • Serve as collateral within DeFi protocols and lending systems

RC Token Valuation Formula:
RC Token = Current Market Value of Asset − Fixed Value of Stable Token (e.g., $1)

RC Tokens represent the uncommitted, market-sensitive portion of the original asset. They are tradeable and reflect live price dynamics.

Practical Examples:

Benefits and Impact:

• Creates a reliable stable instrument for consistent transactions
• Provides a market-exposed asset for dynamic investment strategies
• Enables a flexible collateral framework that adapts to price shifts, reducing dependency on fiat-based systems
• Allows for decomposition of a single volatile asset into two purpose-specific components, without generating synthetic tokens
• Lays the groundwork for programmable and modular finance in DeFi and Web3 ecosystems

By splitting assets into stable and volatile components, DVTM—designed by the initial development team—establishes a robust foundation for next-generation financial tools, enabling a new era of programmable value across decentralized systems.

DBanks: The Infrastructure Behind CNBM

CNBM leverages decentralized smart contract vaults called DBanks to implement DVTM. Each DBank manages a specific CNBM tokenized real-world asset (CNRWA) and handles:

• Collateral management.
• DVTM logic execution.
• Minting CN and RC tokens.
• Tracking issuance and redemption data.

DBank operations are transparent, auditable, and community-governed, fostering trust in DeFi's future.

CNRWA Categories: CNCurrencies & CNAssets

CNRWAs, CNBM's tokenized real-world assets, are divided into two categories:

1. CNCurrencies: Crypto-native equivalents of fiat currencies, minted via transparent, community-governed smart contracts. Examples: CNUSD, CNEUR, CNAED.
2. CNAssets: On-chain representations of physical and financial assets, such as metals, energy, or equities. Examples: CNGold, CNOil, CNTesla.

Markets Shaped by CNBM

CNBM enables open, decentralized financial markets using CNRWAs:

• CNForex Market: A peer-to-peer platform for trading CNCurrencies like CNUSD, CNEUR, and CNAED.
• CNStock Market: A decentralized market for tokenized shares of companies like Tesla, Apple, Samsung, and Volkswagen.
• CNCommodities Market: A platform for trading tokenized commodities like Gold (CNGold), Oil (CNOil), and Coffee (CNCoffee), integrated with DeFi.

Additional markets are planned for the future.

Community Ownership & PD Tokens

CNBM is fully community-owned, with no central teams or corporate shareholders. Governance is managed by Primary Dealer (PD) Token holders, who:

• Provide initial collateral.
• Set DBank parameters.
• Oversee DVTM logic.
• Earn 100% of protocol revenues.

The PD Assembly

The PD Assembly is a decentralized governance forum where PD holders propose, vote on, and coordinate system upgrades, ensuring user-driven decision-making.

Looking Ahead

CNBM is a comprehensive platform driving decentralized finance forward. By rethinking tokenization and eliminating trust dependencies, CNBM unlocks global financial participation, where:

• CNRWAs represent the intrinsic value of assets, beyond market price fluctuations.
• Users rely on code, not corporations.

CNBM is developing CNX, a peer-to-peer settlement protocol enabling CN tokens to be exchanged for their underlying crypto collateral or real-world equivalents (e.g., physical gold or fiat) via smart contracts, without custodians.

From local entrepreneurs to global investors, CNBM offers access, transparency, and opportunity. CNBM is designed for a decentralized financial future.

PD Token: Primary Dealers Token

PD Tokens are equity-like instruments that represent ownership, strategic involvement, and executive responsibility within the foundational infrastructure of the CNBM ecosystem. Unlike utility tokens, PD Tokens designate the ecosystem's core investors and decision-makers, designed to fund, govern, and operate the protocol.

Just as ETH serves as Ethereum's native asset and SOL as Solana's, the PD Token functions as the native asset of the CNBM ecosystem on each blockchain it operates—representing its core value and ownership stake.

PD Assembly: Strategic Governance and Ownership

The PD Assembly formed by PD Token holders, is not merely a governance layer; it serves as an active, permanent, and accountable board of directors for the CNBM ecosystem and the exclusive issuers of CNRWAs (Crypto-Native Real-World Assets, such as CNUSD and CNGOLD). Unlike typical DAOs, which are often loosely organized and voluntary, the PD Assembly comprises stakeholders with a direct stake in the protocol's success or failure.

DVTM (Dual Value Tokenization Model) is the a System for Splitting Volatile Assets into Stable and Dynamic Tokens

The Dual Value Tokenization Model (DVTM), developed by the initial development team, is an innovative framework that splits volatile assets (e.g., cryptocurrencies or tokenized gold) into two complementary tokens while preserving their total value. This model produces a Stable Token and a Volatile Token, each serving a distinct purpose in the DeFi ecosystem.

Stable Token (Token A):

• Maintains a fixed value (e.g., $1)
• Ideal for use in financial operations such as payments, accounting, or savings
• Immune to market price fluctuations

Volatile Token (Token B):

• Fully absorbs the asset's price volatility
• Suitable for investors seeking market exposure or speculative opportunities

Core Principle:
Stable Token + Volatile Token = Total Market Value of the Underlying Asset

Key Features of DVTM:

• The Stable Token remains unaffected by market volatility
• The Volatile Token reflects all price fluctuations, ensuring the combined value always matches the underlying asset's current price
• Each token operates independently and fits different financial use cases
• Both tokens are directly derived from the original asset; they are not newly created synthetic assets but represent inherent parts of the same underlying asset

Role in the CNBM Ecosystem:

DVTM serves as the foundational mechanism behind Dbank smart contracts, enabling:

• Stable Tokens to be used for pegging decentralized currencies like CNUSD and CNEUR, or real-world asset (RWA) tokens such as CNGOL and CNOIL
• Volatile Tokens (called RC Tokens) to function as new financial derivatives, representing the residual, non-stabilized market value of the asset. RC Tokens can:
  • Be used as speculative or investment instruments
  • Serve as collateral within DeFi protocols and lending systems

RC Token Valuation Formula:
RC Token = Current Market Value of Asset − Fixed Value of Stable Token (e.g., $1)

RC Tokens represent the uncommitted, market-sensitive portion of the original asset. They are tradeable and reflect live price dynamics.

Practical Examples:

Benefits and Impact:

• Creates a reliable stable instrument for consistent transactions
• Provides a market-exposed asset for dynamic investment strategies
• Enables a flexible collateral framework that adapts to price shifts, reducing dependency on fiat-based systems
• Allows for decomposition of a single volatile asset into two purpose-specific components, without generating synthetic tokens
• Lays the groundwork for programmable and modular finance in DeFi and Web3 ecosystems

By splitting assets into stable and volatile components, DVTM—designed by the initial development team—establishes a robust foundation for next-generation financial tools, enabling a new era of programmable value across decentralized systems.

Decentralized Stablecoins for the Future of Finance

In the CNBM (Crypto Native Backed Minting) ecosystem, CNCurrencies are decentralized, blockchain-native stablecoins pegged to fiat currencies such as the Euro (CNEUR), UAE Dirham (CNAED), or Japanese Yen (CNYEN). Unlike traditional stablecoins, they are not backed by fiat reserves held in banks—instead, they are fully collateralized by on-chain crypto assets (e.g., ETH, BTC) or tokenized real-world assets (RWAs).

Issued Through the Dual Value Tokenization Model (DVTM)

Each CNCurrency is issued through its own DBanks smart contract based on the Dual Value Tokenization Model (DVTM). In this model, a volatile asset (e.g., ETH or tokenized gold) is split into two independent tokens:

1. Stable Token (CNCurrency):
   Pegged to a specific fiat currency (e.g., CNUSD for USD, or CNEUR for EUR), designed for payments, savings, or accounting.
2. Volatile Token (Token B or RC Token):
   Represents the remaining value of the underlying asset after subtracting the stable unit. It is volatile and suitable for speculative use or investment strategies.

Core Formula of DVTM:

Practical Example:

About Collateralization:

Role of CNCurrencies in CNBM:

• They are the backbone of the decentralized Forex (CN FX) market.
• Enable on-chain payments, savings, lending, and cross-border value transfers.
• Provide a transparent, fully decentralized alternative to fiat money without dependence on traditional banks or reserves.

Practical Applications of CNAssets

CNAssets (e.g., CNGold, CNOil, CNTesla), tokenized real-world assets in the CNBM ecosystem, are backed by crypto (e.g., BTC, ETH) and real assets (e.g., gold, oil, stocks), transforming investment, trading, and daily transactions. Offering stability, transparency, and liquidity, CNAssets empower investors, merchants, and retailers. Below are their key practical applications:

CNAssets are tokens that represent real-world assets (such as gold, oil, or stocks). These tokens are created with the backing of blockchain assets (like Bitcoin or Ethereum). Transparent blockchain processes and smart contracts enable decentralized access to real-world assets without intermediaries.

CNAssets: Tokenized Real-World Assets

Within the CNBM (Crypto-Native-Backed Minting) framework, CNAssets are tokens that represent real-world assets (RWAs). These assets include metals, energy, stocks, agriculture, and real estate. Unlike synthetic or centralized models, CNAssets are created through fully blockchain-based, transparent processes. These tokens require no trust, are backed by crypto-native assets (like Bitcoin or Ethereum), and are managed by smart contracts.

DVTM: Dual Value Tokenization Model

In the DVTM, a base asset (like BTC or ETH) is split into two tokens via a DBank smart contract:

• CNAsset (e.g., CNGold): Represents a real-world unit (e.g., 1 gram of gold).
• RC Token (e.g., RCBTCGold): Captures the remaining value of the base asset after issuing the CNAsset.

Example:

• Locking 1 BTC produces:
  • CNGold: 1 gram of gold
  • RCBTCGold: Remaining BTC value

This process establishes a direct price ratio between BTC and gold on the blockchain, without external price feeds.

CNBM Philosophy: Aligned Tokenization

CNBM believes true tokenization of real-world assets (RWAs) must align with blockchain's values and architecture.

Conventional models:

• Rely on centralized custodians. Their tokens' value depends on institutional trust.
• Issue synthetic derivatives. These are over-collateralized, tied to fiat, and obscure the asset's intrinsic nature.

CNAssets, however:

• Are created with crypto-native asset backing, not synthetic price modeling.
• Establish a direct exchange ratio between a blockchain asset and a real-world asset.
• Remain operational and meaningful even without fiat, as CNAssets depend on intrinsic value.

Unlike centralized models or synthetic tokens tied to fiat, CNAssets leverage crypto-native assets and blockchain transparency to provide secure, decentralized access to real-world assets.

CNAssets in Action

Inter-Asset Price Discovery

DVTM issues tokens and discovers the true value ratio between assets. Instead of referencing USD, CNAssets enable direct pricing.

Example:

• Direct pricing:
  • BTC to gold
  • ETH to oil
  • Tesla shares to ETH

This lays the foundation for a new inter-asset economy. Assets are directly priced, exchanged, and benchmarked on the blockchain.

Redemption: Settling CNAssets via CNX

CNBM enables CNAssets settlement with real-world assets via CNX (Crypto-Native Exchange). CNX is a decentralized P2P marketplace.

• Providers of real-world assets (e.g., gold, oil, wheat) list their assets.
• CNAsset holders can request physical settlement.
• Smart contracts and anti-fraud protocols ensure secure, intermediary-free settlement.

CNAsset Redemption Paths:

1. On-chain Redemption
   CNAssets can always be redeemed for their crypto-native collateral by returning CN and RC tokens. This process is fully decentralized and trustless.
2. Physical Redemption via CNX
   For physical settlement, users swap CNAssets with real-world asset providers in a secure, permissionless P2P environment.

CNAssets: Stable Payment Units

CNAssets go beyond investment and hedging tools. These tokens serve as stable payment units backed by real-world assets.

Real-World Use Cases:

• Example:
  • A vehicle can be sold for CNTesla.
  • Agricultural contracts can be settled with CNWheat.
  • Industrial fuel payments can be made with CNOil.

CNAssets are both value storage tools and asset-backed currencies. These tokens are programmable, verifiable, and resistant to inflation or manipulation.

CNAssets (e.g., CNGold, CNOil, CNTesla), tokenized real-world assets in the CNBM ecosystem, are backed by crypto (e.g., BTC, ETH) and real assets (e.g., gold, oil, stocks), transforming investment, trading, and daily transactions. Offering stability, transparency, and liquidity, CNAssets empower investors, merchants, and retailers. Below are their key practical applications:

RC Token (Residual Claim Token) – A Dynamic Representation of Volatile Assets with a Stable Commitment

RC Tokens (Residual Claim Tokens) dynamically represent the value of volatile assets such as ETH or BTC within the DVTM model. Unlike the original asset, each RC Token has a fixed portion of its value reserved to support the stability of a corresponding stablecoin.

For example:

• $1 of the underlying asset's value is reserved when minting 1 CNUSD.
• 1 gram of gold is reserved when minting 1 CNGOLD.

As a result, RC Tokens reflect the asset's market movements but only represent the residual value after the fixed portion is set aside.

Key Properties of RC Tokens:

• Real Asset Representation: RC Tokens mirror the original asset's value, minus the fixed reserved amount that backs the stability of the stablecoin.
• Fully Volatile and Tradable: They capture all price changes (after subtracting the fixed reserve) and can be freely traded across DeFi platforms and secondary markets.
• Exclusive Redemption via Dbank: To redeem the underlying asset, users must return both the stablecoin (e.g., CNUSD) and the corresponding RC Token to the Dbank (e.g., DbankUSD for CNUSD).

Collateral for Base-Asset Loans via Dbank:

• RC Tokens can be used as collateral to borrow the original base asset (e.g., ETH, BTC) from Dbank.
• The loan amount is determined based on a predefined Loan-to-Value (LTV) ratio set by the PD Assembly.
• These loans are interest-free.

Collateral for Stablecoin Loans via RCBank:

• RC Tokens can also be used as collateral in RCBank to borrow the corresponding stablecoin (e.g., CNUSD, CNAED).
• This allows users to access liquidity without selling their underlying asset while remaining exposed to market upside.

Role and Benefits in the CNBM Ecosystem:

• RC Tokens serve as tradable claims on bonded assets, backing stablecoin issuance while reflecting full market volatility.
• They enhance liquidity and capital efficiency by enabling users to unlock value without liquidating their assets.
• As non-synthetic, real representations of asset value, RC Tokens:
  • Offer high liquidity
  • Are freely tradable across DeFi protocols
  • Form the foundation for next-gen decentralized collateral systems

Dbank – The Core Engine for Creating CNRWA in CNBM

Dbank is the financial and technical backbone of the CNBM ecosystem, designed to issue non-custodial stable units called CNRWA (e.g., CNUSD, CNEUR, CNAED). Each CNRWA is minted through a dedicated smart contract module based on the DVTM model, tailored to a specific currency (e.g., DbankUSD for CNUSD). The permanent immutability of Dbanks post-deployment is a cornerstone of the system's success and strength, ensuring that no entity, not even the PD Assembly, can alter them.

How Dbank Works

1. Asset Deposit
   Users deposit a volatile or tokenized asset (e.g., ETH, BTC, tokenized gold) into a specific Dbank.
2. Asset Lock
   The deposited asset is secured within a smart contract.
3. Token Creation
   • RC Token: An RC Token equivalent to the deposited asset is minted.
   • Mint Instruction: A mint instruction is sent via the Mint Router to the corresponding CNRWA mint contract.
   • Receive: The user receives the minted CNRWA along with the corresponding RC Token, which serves as a collateral certificate, reflecting the locked asset minus the stabilized value.
4. Redemption
   Users can redeem their locked asset by returning the CNRWA and its matching RC Token to the originating Dbank through the Burn mechanism. This is the only way to access locked assets post-deployment.

CNRWA Minting Architecture

Each CNRWA is governed by a single, fixed mint contract that only accepts mint and burn instructions from authorized Mint Routers. These Mint Routers are whitelisted through PDToken holder governance. Post-deployment, both mint contracts and Dbanks are completely immutable, and no entity, including PDToken holders or the PD Assembly, can modify them. If changes are needed, a new Dbank version must be deployed.

This architecture enables multiple Dbank instances, backed by diverse collateral types, to interact with the same CNRWA mint contract, ensuring:

• Consistent minting and redemption rules
• Uniform value and behavior of all CNRWA across the system
• Full interoperability and cross-redeemability: Any CNRWA can be redeemed at any authorized Dbank with its corresponding RC Token
• Security and transparency through immutability and restricted access via the Burn mechanism

Key Features of Dbank

• Exclusive Mint Access
  Only PDToken holders (Primary Dealers) are authorized to mint CNRWA. Any user can redeem by returning the CNRWA and its paired RC Token via the Burn mechanism.
• Dbank-Specific Redemption
  CNRWA and RC Tokens must be redeemed at the originating Dbank (e.g., CNUSD + RCETHUSD in DbankUSD only, not in DbankEUR).
• Fixed Collateral Rules
  Before deployment, the PD Assembly sets the allowed collateral types. These collateral types are permanently immutable post-deployment. If changes to collateral types are required, a new Dbank version with different specifications must be introduced. This immutability forms the foundation for trust and stability in the system.
• Dedicated Whitepaper
  Each Dbank will have its own dedicated whitepaper, detailing its specific collateral types, operational rules, and configurations, ensuring transparency and clarity for users and stakeholders.
• Restricted Access Post-Deployment
  After a Dbank is deployed, no one—not even the PD Assembly or PDToken holders—can alter its rules or structure. The only way to access locked assets is through the Burn mechanism by redeeming the CNRWA and RC Token. This restricted access ensures the system's strength and transparency.

Dbank's Role in CNBM

Dbank serves as the decentralized foundation for issuing and managing CNRWA, enabling:

• Bank-free issuance of value-stable digital units
• Transparent, rule-based minting backed by real assets
• Permissioned multi-collateral infrastructure
• Interoperable and redeemable stable assets within a unified ecosystem

The immutability of Dbanks and restricted access to assets solely through the Burn mechanism enhance trust, security, and transparency. These features position Dbank as the most secure collateral storage model in DeFi, as no entity can interfere with the contracts post-deployment, and the Burn mechanism is the sole gateway to accessing assets. Through decentralized governance and fixed rules, Dbank empowers the CNBM system to evolve into a resilient, scalable, and transparent monetary network.

RCBank is the debt-layer protocol within the CNBM ecosystem that enables the issuance of CNRWA tokens (Crypto-Native Real-World Assets) using RC Tokens (Residual Claims) as collateral. Governed by the PD Assembly, RCBank serves as a complementary protocol to immutable DBank vaults, providing liquidity for RC Tokens without requiring direct redemption of the underlying base asset.

Design Philosophy

DBanks in CNBM are permanently immutable after deployment, ensuring security and transparency. However, this immutability means that assets locked in DBanks can only be accessed through full redemption—returning both the CN and RC tokens. The PD Assembly operates as a decentralized governance body, with decisions made through transparent, token-based voting mechanisms detailed in the CNBM governance whitepaper.

RCBank overcomes this limitation by allowing users to borrow CNRWA tokens directly against their RC Tokens, without redeeming the base collateral. This includes assets such as CNUSD, CNGOLD, CNAED, CNTESLA, and more—issued in a transparent and trustless manner through the protocol.

How RCBank Works

1. Collateral Deposit
   The user deposits one or more RC Tokens (e.g., RCBTCUSD, RCBTCGOLD, or RCETHAED) into RCBank.
2. Asset-Pegged Valuation
   Instead of valuing the RC in USD, RCBank converts the RC Token's value into the unit of the requested CNRWA (e.g., AED, grams of gold, or shares of Tesla).
3. LTV-Based Loan Calculation
   The user receives a loan equivalent to a percentage (e.g., 70%, 80%) of the RC Token's converted value in the target unit.
4. CNRWA Minting
   The RC Token's value is evaluated in the requested CNRWA unit, and the loan is calculated based on the LTV ratio. The requested CNRWA is then minted via the CNMintRouter, subject to a small loan origination fee. This process is automated, relying on the pre-approved settings of the RCBank module whitelisted by the PD Assembly. CNMintRouter is designed for scalability, supporting high transaction throughput as detailed in the technical whitepaper.
5. Repayment and Unlocking
   The user can repay the borrowed CNRWA at any time to unlock and retrieve the RC Token collateral. Repayment is straightforward, requiring only the return of the borrowed CNRWA, with minimal transaction fees as outlined in the whitepaper.

Vault Buffer Liquidation Model (VBLM)

Unlike traditional systems that liquidate individual positions immediately upon breaching LTV limits, CNBM uses a Vault Buffer Liquidation Model (VBLM) to protect users systemically.

RCBank checks whether the total value of base reserves in the associated DBank still adequately covers all circulating CNRWAs. As long as the system remains overcollateralized, no liquidation occurs, even if specific positions exceed their LTV. VBLM is supported by decentralized oracles and emergency thresholds to mitigate systemic risks during market volatility.

RC-to-Asset Collateralization Logic

Each CNRWA is measured in its native unit—not USD. This includes:

• AED for CNAED
• grams for CNGOLD
• shares for CNTESLA
• tons for CNWHEAT

RCBank converts RC Token value directly into the requested CNRWA's unit before calculating the loan. RC Token value conversion relies on decentralized oracles to ensure accurate and tamper-resistant pricing.

This model applies universally—whether the CNRWA is a fiat-pegged token (e.g., CNUSD) or a commodity/equity (e.g., CNGOLD, CNTESLA).

Examples

Direct Redemption via DBank

All CNRWA tokens issued through RCBank are fully redeemable at the corresponding DBank at any time.
Redemption requires:

• Returning the CNRWA token
• Returning the matching RC Token

Only through this full return can the underlying base asset be unlocked from the DBank.

Dedicated Whitepapers per RCBank

Each RCBank module will have its own dedicated whitepaper, publicly released and transparently maintained.
These whitepapers define:

• Accepted RC Token types
• LTV ratios
• Liquidation mechanisms
• Risk management configurations
• Governance parameters

This ensures clear communication and trust across all users, developers, and PD stakeholders.

RCBank Feature Summary

RWA Collateral Integration

The CNBM ecosystem, a leading decentralized finance (DeFi) platform, enables the creation of tokenized assets called CNRWAs (Collateralized Native Real-World Assets), such as CNUSD, CNGOLD, and CNAED, through modular and robust DBank infrastructure. By leveraging tokenized real-world assets—like gold, silver, real estate, and equities—it establishes a solid foundation for issuing CNRWAs, surpassing the limitations of traditional cryptocurrencies. DBanks integrate these assets to deliver unparalleled stability and scalability, paving the way for a new era in DeFi.

How It Works

DBanks, the core of CNRWA issuance, utilize tokens of real-world assets alongside cryptocurrencies like ETH and BTC as collateral. Only thoroughly vetted and credible assets qualify, ensuring each CNRWA is backed by reliable reserves.

This flexibility positions CNBM as a pioneer in integrating real-world assets into DeFi.

A Multi-Collateral Approach to CNRWA Creation

CNBM's core vision is to issue CNRWAs backed by diverse and robust collateral, not confined to a single asset type. This innovative approach ensures the stability, scalability, and credibility of issued assets.

Evolving CNRWAs into Next-Generation Collateral

As CNRWAs gain acceptance, market depth, and credibility, they can serve as collateral in new DBanks. This evolution creates an interconnected and dynamic financial system where value recycles and expands without requiring constant external capital.

This innovative design elevates capital efficiency to unprecedented levels. It fosters organic growth and aligns DeFi with real-world economic logic, unlocking limitless financial possibilities.

Real RWA Integration into DeFi: Beyond Tokenization

CNBM's modular architecture and DBank system make true integration of real-world assets into DeFi a reality. These assets are not mere tokenized representations but dynamic collateral for creating next-generation assets. This model delivers transformative features:

• Full composability: CNRWAs can evolve into inputs for new layers.
• Capital efficiency: Value recycles with minimal friction.
• Decentralized expansion: New DBanks launch with custom collateral profiles.
• Reduced reliance on fiat gateways or external institutions.

By transforming real-world value into programmable, multi-purpose collateral, CNBM builds an economic framework where assets work, grow, and regenerate. This framework forges a sustainable and inclusive DeFi, opening a world of financial possibilities.

The Cn Forex Market: A Natural Step in the Evolution of CNCurrencies

If CNCurrencies gain widespread adoption and become credible alternatives for daily transactions and value storage, the formation of a Cn Forex Market between them is not only plausible but a natural and necessary progression.

In such a system, we would witness a collection of regional or thematic stablecoins that, unlike traditional dollar-based stablecoins, are backed by diversified and multipurpose collateral—initially leading cryptocurrencies such as ETH and BTC, and soon tokenized real-world assets like gold, real estate, or equities. This diversity in backing grants CN currencies both stability and credibility, preparing them for broader real-world use.

Since all CNCurrencies are issued under a standardized collateral framework, creating direct trading pairs between them (e.g., CNEUR/CNAED or CNUSD/CNTRY) allows for the emergence of true market-driven exchange rates. These rates are determined organically through supply and demand, rather than being dictated by centralized intermediaries.

A Forward-Looking Vision:

In a world where multiple credible CNCurrencies coexist—rather than relying on a single dominant dollar-backed stablecoin—the architecture of decentralized finance undergoes a profound transformation. The potential outcomes include:

• Reduced reliance on the US dollar, enabling a more balanced global financial system;
• Greater market resilience against political and economic manipulation from centralized powers;
• Localized and regional market growth, allowing for direct exchange without passing through USD-based rails or traditional exchanges;
• Empowered users who can choose currencies that better reflect their economic, regional, or cultural realities.

Ultimately, the Cn Forex Market has the potential to become a 24/7, transparent, and decentralized platform for discovering real exchange rates between stablecoins. It lays the groundwork for a new architecture in global trade—one that eliminates dependency on a single central authority and instead supports a multi-polar financial ecosystem.

With its structured, reliable framework for creating, backing, and exchanging CNCurrencies, CNBM is uniquely positioned to lead this transformative shift.

1. Introduction

In today's multi-chain crypto ecosystem, users need seamless access to assets from various blockchains within a single chain. Traditional cross-chain bridges and wrapped tokens are slow, costly, and prone to security risks.

CNAPEX (Crypto Native Asset Porting & Exchange) is a decentralized, on-chain solution that eliminates cross-chain bridges. It enables users to mint and hold other crypto assets directly on their chosen blockchain by locking the chain's native token, ensuring a secure and direct process without wrapped tokens.

2. D.V.T.M Model

CNAPEX is built on the Dual Value Token Model (D.V.T.M), a dual-token issuance framework. Each deposit of a native base asset – such as ETH or BNB – creates two complementary tokens:

• cnAsset – a stable token pegged to the target asset, like cnsolana or cnbtc.
• rcAsset – a volatile token reflecting the price ratio between the base and target assets, such as rcethsol or rcbnbbtc.

rcAssets, as core financial instruments, track the performance spread between two assets. For example:

• If ETH outperforms SOL, rcethsol gains value.
• If SOL outperforms ETH, rcethsol loses value.

These tokens enable users to speculate on or hedge cross-asset performance without directly holding either asset.

3. CNAPEX Deployment per Chain

Each blockchain hosts its own CNAPEX contract module, such as CNAPEX_ETH, CNAPEX_BNB, or CNAPEX_MATIC. These contracts:

• Accept the chain's native token, such as ETH, BNB, or MATIC, as collateral.
• Allow users to select from supported target assets, including BTC, SOL, AVAX, or ADA.
• Issue two tokens: a cnAsset pegged to the selected asset and an rcAsset reflecting the native-to-target price ratio.
• Use dynamic minting ratios based on real-time volatility and market policies.

4. CNAPEX Process Flow

1. A user locks native collateral, such as ETH, in the corresponding CNAPEX contract, like CNAPEX_ETH.
2. The user selects a target asset, such as SOL, from the supported mint list.
3. The protocol issues two tokens: cnsolana, pegged to 1 SOL, and rcethsol, reflecting the ETH/SOL price ratio.
4. The base asset remains locked until both tokens are returned and redeemed.
5. CNAPEX charges minting and redemption fees based on the minted value.

5. Debt Issuance on rcAssets

CNAPEX supports an advanced lending mechanism for rcAssets. Users can borrow against their rcAssets' value, replacing locked base collateral with active debt positions. This approach unlocks liquidity while maintaining full collateralization, enabling leveraged exposure, synthetic yield farming, and volatility-based hedging strategies.

6. Key User Benefits

• Create other assets directly on-chain.
• Hold all assets on a single blockchain.
• Operate securely without wrapped tokens or trust assumptions.
• Trade or hedge using rcAssets.
• Enjoy a simple, predictable user experience.
• Unlock liquidity by borrowing against rcAssets.
• Choose from multiple target assets for minting.
• Speculate on cross-asset performance without direct exposure.

7. Deployment Examples

8. Use Cases

• Multi-asset portfolios: Mint cnBTC, cnSOL, or cnAVAX on a preferred chain without bridging.
• Volatility trading: Profit from asset dominance shifts using rcAssets without holding either token.
• Stablecoin infrastructure: Use cnAssets as stable synthetic tokens in lending, liquidity pools, or synthetic protocols.
• DAO treasury diversification: Hold cnGold, cnUSD, or cnETH on one chain to diversify without bridging.
• Hedging strategies: Lock value with cnAssets and sell rcAssets to minimize volatility exposure.
• Developer integration: Incorporate external assets into dApps using CNAPEX modules without wrapping or bridges.

9. Conclusion

CNAPEX, a foundational module in the CNBM architecture, enables any blockchain to act as an independent platform for external assets without bridges, custodians, or trust assumptions. It provides a secure, composable way to create, hold, and trade multi-chain assets directly on the user's chosen chain.

CNAPEX empowers users to create any asset on any chain with ease and security.

CNBM Recursive Derivatives Protocol

Rc-on-Rc Token Minting with High Collateral Tolerance

1. Introduction

In the CNBM architecture, Rc tokens go beyond simple price ratios between two assets. They are intelligent financial instruments that capture complex market dynamics, such as cross-asset correlations and volatility patterns. These tokens can serve as collateral for higher-level derivatives, enabling the CNBM Recursive Derivatives Protocol (RDP). The RDP is a system for creating layered financial instruments with enhanced stability and flexibility. This protocol redefines DeFi derivatives, offering new opportunities for risk management and asset creation.

2. Recursive Minting in CNBM

In the CNBM architecture, recursive minting allows Rc tokens to serve as collateral for creating new tokens, forming layered financial structures. In a D.V.T.M cycle (Dual Value Tokenization Model, a process for issuing paired derivative tokens), an Rc token is locked to produce two new tokens:

• A cnToken, a stable asset pegged to a specific value.
• A new Rc token, representing the price ratio between the previous Rc and a new asset.

This minting process can continue across multiple layers, subject to practical constraints like liquidity and risk. Simply put, recursive minting enables users to build new tokens by reusing existing ones as collateral.

3. Multilayered Example

To illustrate recursive minting, consider the following example using specific assets:

1. 1 ETH is used to mint cnSOL (a stable token pegged to Solana) and RcETH/SOL (a token representing the ETH/SOL price ratio).
2. RcETH/SOL is locked to mint cnGOLD (a stable token pegged to one gram of gold) and Rc(RcETH/SOL)/GOLD (representing the ratio of RcETH/SOL to GOLD).
3. Rc(RcETH/SOL)/GOLD is used to mint cnRIP (a stable token pegged to a hypothetical asset, RIP) and Rc(Rc(RcETH/SOL)/GOLD)/RIP.

The final token can be expressed as:

This formula represents the price ratio of ETH relative to a composite index of Solana, one gram of gold, and the hypothetical asset RIP. In simple terms, it shows how recursive minting creates tokens that reflect complex, layered market relationships. Note that SOL, GOLD, and RIP are used as illustrative assets to demonstrate the concept, with RIP being a hypothetical example.

4. Collateral Tolerance & Stability

Contrary to initial assumptions, deeper layers of Rc tokens do not necessarily reduce stability. Recursive Rc tokens benefit from counterbalancing market volatilities by leveraging diversified asset correlations, making them less sensitive to individual asset shocks and more stable at deeper layers.

Comparative Stability Table:

Collateral Model	Volatility Sensitivity (% Deviation, 30 Days)	Overall Stability (Stability Coefficient)
Raw ETH	High (15–25%)	Low (0.3–0.5)
Single-layer Rc	Medium (8–15%)	Medium-High (0.6–0.8)
Recursive Rc (Layer 3+)	Low (5–10%)	High (0.8–0.9)

Suggested LTV Parameters:

• Rc (Layer 2): LTV ≤ 40%, suitable for moderately volatile markets.
• Rc (Layer 3 or higher): LTV ≤ 25–30%, recommended for high-stability applications.
• Margin buffer: ≥ 20% above historical volatility, calculated as the 30-day standard deviation of price ratios.

In simple terms, recursive Rc tokens achieve greater stability by balancing fluctuations across multiple assets, making them reliable for complex financial structures.

5. Future-Facing Applications

The CNBM Recursive Derivatives Protocol opens up a range of innovative applications in DeFi:

• Collateralized Lending Systems: Users can borrow stablecoins like cnSOL using Rc tokens as collateral, eliminating the need for raw assets like ETH.
• Non-USD Stablecoins: Stablecoins pegged to Rc-based index baskets (e.g., a mix of SOL, GOLD, and RIP) offer alternatives to USD-backed assets.
• Derivative Markets: Complex Rc structures enable trading of layered derivatives, such as options based on Rc(RcETH/SOL)/GOLD ratios.
• Treasury Strategies: Protocols can diversify treasuries by holding Rc-derived assets, balancing risk across multiple markets.
• Autonomous Treasury Policy: Smart contracts can automatically adjust treasury allocations based on Rc price ratios, optimizing for stability and yield.

In simple terms, these applications allow DeFi platforms to create new financial tools, from stablecoins to automated asset management, using Rc tokens as a foundation.

6. Conclusion

The CNBM Recursive Derivatives Protocol introduces a novel approach to DeFi by leveraging layered Rc tokens to create sophisticated financial instruments. These tokens enable a new category of assets, characterized by enhanced stability and flexibility, suitable for applications like stablecoins, lending, and treasury management. By providing a robust framework for risk management and asset creation, CNBM paves the way for innovative financial structures in decentralized finance.

All revenue generated from CNRWA transfer fees and other ecosystem income is distributed instantly and transparently on-chain:

• 100% → goes to PD token holders.

There is no centralized development fund. The team earns income solely by holding PD tokens, just like any other participant.

Ownership in CNBM is not merely symbolic — it represents real-time, transparent access to actual on-chain cash flow.

The PD Token sale program will officially begin in Q2 2025.

Token distribution will follow a Fair Launch model based on the dedicated whitepaper for each PD Token.

As the ecosystem expands across new blockchain networks, the sale of PD Tokens will continue to grow accordingly.

For more information and to access the whitepaper and official website of each token, please refer to the links below:

Introduction

The Crypto Native Backed Minting (CNBM) protocol is a decentralized finance (DeFi) ecosystem designed to issue non-custodial stablecoins (CNCurrencies) backed by diverse assets, enabling global trade without dollar intermediaries. This specification details the technical architecture, smart contract mechanisms, and governance processes for implementing CNBM, focusing on CNCurrency issuance, DBanks operations, RC Token lending, and PD Token governance.

2. Protocol Overview

CNBM creates CNCurrencies (e.g., CNUSD, CNAED, CNTRY) pegged to local or global currencies, backed by cryptocurrencies (e.g., ETH, BTC) and tokenized real-world assets (RWAs). Key components include:

• CNCurrency: Stablecoins issued via standardized Mint and Burn smart contracts.
• DBanks: Decentralized smart contracts managing collateral, RC Token issuance, and CNCurrency minting/burning.
• RC Token: Volatile tokens representing residual asset value, used for interest-free lending.
• PD Token: Governance tokens enabling Primary Dealers to mint CNCurrencies, manage protocol parameters, and share ecosystem revenue.
• Mint Router: A secure smart contract controlling all Mint and Burn instructions, ensuring no direct or admin access.

The protocol operates on Ethereum (extendable to other blockchains), leveraging ERC-20 standards for tokens and audited smart contracts for security.

3. Technical Architecture

CNBM's architecture comprises interconnected smart contracts:

• CNCurrency Contract: An ERC-20-compliant contract with Mint and Burn functions, only callable by the Mint Router.
• Mint Router: A central smart contract routing Mint and Burn instructions from authorized DBanks, with a whitelist managed exclusively by PD Token holders.
• DBanks Contract: A specialized contract per CNCurrency (e.g., DBanksUSD for CNUSD) handling collateral deposits, RC Token issuance, and CNCurrency minting/burning.
• PD Token Contract: An ERC-20 governance token contract enabling whitelist management, mint authorization, and revenue sharing.
• Commission Wallet: A designated wallet collecting transaction fees on CNCurrency transfers, distributed to PD Token holders.

Data Flow:

1. A user deposits a base asset (e.g., ETH) into a DBanks.
2. DBanks issues an RC Token and sends a Mint instruction to the Mint Router.
3. Mint Router forwards the instruction to the CNCurrency contract, minting the corresponding CNCurrency (e.g., CNUSD).
4. On burning, DBanks receives RC Token and CNCurrency, burns them, and sends a Burn instruction via the Mint Router.
5. CNCurrency transfers incur a commission, collected in the Commission Wallet and distributed to PD Token holders.

4. Implementation Details

4.1 CNCurrency Minting and Burning

• Mechanism: CNCurrency contracts implement standard ERC-20 Mint and Burn functions, exclusively triggered by the Mint Router. No direct admin or external access exists.
• Commission: Each CNCurrency transfer incurs a 0.25% fee, automatically transferred to the Commission Wallet and fully distributed to PD Token holders.
• Authorization: Minting requires the minter's wallet to hold PD Tokens, verified by the DBanks contract. Burning has no such prerequisite.

4.2 DBanks Operations

• Collateral Deposit: Users deposit a base asset (e.g., ETH). DBanks issues an RC Token reflecting the asset's residual value and sends a Mint instruction to the Mint Router, triggering CNCurrency issuance.
• Burning Process: Users return the RC Token and CNCurrency to the DBanks, which burns both tokens and sends a Burn instruction via the Mint Router to the CNCurrency contract, releasing the base asset.
• Smart Contract: Each DBanks is a unique contract tailored to its CNCurrency, ensuring isolated operations.

4.3 RC Debt Issuance

• Mechanism:Each RC Token can be used to borrow up to 0.99 units of the original base asset (e.g., 0.99 ETH), regardless of the RC Token's market value.
• Purpose: Enhances capital efficiency while maintaining access to the base asset.

4.4 Mint Router

• Function: Acts as the sole gateway for Mint and Burn instructions, eliminating unauthorized access.
• Whitelist Management: Only PD Token holders can add or remove addresses from the Mint Router's whitelist via decentralized governance.

4.5 PD Token Governance

• Mint Authorization: DBanks verifies PD Token presence in the minter's wallet before allowing CNCurrency issuance.
• Whitelist Control: PD Token holders vote to manage the Mint Router's whitelist through a governance smart contract.
• Revenue Sharing: PD Token holders receive 100% of the 0.25% transaction fees collected in the Commission Wallet via an ecosystem revenue-sharing tool, distributed periodically.

5. Security and Governance

• Mint Router Security: Eliminates direct admin access, with all instructions routed through an audited contract.
• PD Token Governance: Decentralized voting ensures only authorized DBanks interact with the Mint Router, and the revenue-sharing tool equitably distributes fees.
• Audits: Contracts undergo rigorous audits by firms like CertiK, with a $500,000 Bug Bounty program to incentivize vulnerability discovery.
• Commission Wallet: Secured by multi-signature or decentralized custody to prevent unauthorized access.

6. Use Cases and Scenarios

• CNCurrency Issuance: A user deposits 1 ETH into DBanksUSD, receiving 1 RCETHUSD and 1 CNUSD, with the Mint Router ensuring secure issuance.
• Burning: The user returns RCETHUSD and CNUSD to DBanksUSD, which burns them and releases 1 ETH via a Mint Router Burn instruction.
• RC Lending: A user locks an RCETHUSD with an LTV of 0.99, borrowing 0.99 ETH, repayable without interest.
• Commission Collection: A CNUSD transfer incurs a 0.25% fee, collected in the Commission Wallet and distributed to PD Token holders.

7. Standards and Compliance

• Token Standards: CNCurrency, RC, and PD Tokens adhere to ERC-20 for interoperability.
• Smart Contract Standards: Contracts follow OpenZeppelin's audited templates for Mint, Burn, and governance functions.
• Compliance: The non-custodial design and lack of fiat dependency minimize regulatory risks, with legal consultation for RWA integration.

8. Conclusion

The CNBM Protocol Specification outlines a secure, decentralized framework for issuing CNCurrencies, managing collateral, and enabling interest-free lending. With the Mint Router's centralized instruction routing, PD Token governance with revenue sharing, and multi-collateral backing, CNBM ensures stability, transparency, and scalability, paving the way for a dollar-independent DeFi ecosystem.

9. Appendices

• Glossary:
  • Mint Router: A smart contract routing Mint and Burn instructions.
  • Commission Wallet: A wallet collecting CNCurrency transaction fees, distributed to PD Token holders.
• References: ERC-20, OpenZeppelin, CertiK audit standards.

Risk Analysis and Mitigation Strategies

Blockchain projects in decentralized finance (DeFi) face numerous challenges. CNBM, fully aware of these realities, has identified key risks and developed comprehensive mitigation strategies. This approach ensures ecosystem stability and fosters stakeholder confidence in a transparent, resilient, and decentralized financial future. Below are the primary risks and CNBM's measures to address them:

1. Security Risks

Risk: Smart contracts underpinning DBanks and CNCurrencies may be vulnerable to hacks or code exploits, potentially leading to asset loss or ecosystem disruption.

Mitigation Strategies:

• Comprehensive Audits: CNBM collaborates with reputable blockchain auditors like CertiK to thoroughly review and test smart contracts before deployment.
• $500,000 Bug Bounty Program: CNBM implements a Bug Bounty program with rewards up to $500,000, incentivizing white-hat hackers to identify vulnerabilities, underscoring the project's commitment to security.
• Secure Upgrades: Smart contract upgrades are managed through decentralized PD Assembly governance, with extensive testing on testnets.

2. Risk of Fiat Currency Devaluation or Collapse

Risk: Fiat currencies linked to CNCurrencies (e.g., TRY for CNTRY) may lose value or become worthless during economic crises, potentially impacting user trust.

Mitigation Strategies:

• Value Stability via Collateral: Even if a fiat currency (e.g., TRY) collapses to zero, the corresponding CNCurrency (e.g., CNTRY) retains value through redeemable collateral (e.g., gold or real estate).
• Multi-Collateral Backing: CNCurrencies are backed by diverse assets (cryptocurrencies and RWAs). If one collateral fails, redemption through others preserves value.
• PD Assembly Commitment: The PD Assembly is committed to maintaining CNCurrency value by replacing impaired collateral with new assets.

3. Risk of Crypto Market Volatility

Risk: Cryptocurrency collateral (e.g., ETH, BTC) may face severe price drops or zero value, threatening CNCurrency stability.

Mitigation Strategies:

• Collateral Diversification: CNBM uses a mix of cryptocurrencies and RWAs (e.g., gold, real estate) to mitigate crypto volatility risks.
• Stable Redemption: If a base asset's value drops to zero, redemption through other collateral remains intact.
• Active PD Assembly Management: The PD Assembly continuously evaluates and adds new collateral (e.g., low-volatility RWAs) to ensure CNCurrency stability.

4. Regulatory and Legal Risks

Risk: CNCurrencies and RWAs may face varying regulations across jurisdictions. Naming CNCurrencies after fiat (e.g., CNUSD) could be misinterpreted as reliance on actual fiat reserves.

Mitigation Strategies:

• No Fiat Dependency: CNCurrencies use fiat names for user familiarity but have no ties to physical fiat reserves. For example, issuing 1 billion CNUSD requires no actual dollars, functioning solely as a blockchain-based contractual convention.
• Proactive Compliance: CNBM collaborates with blockchain legal experts to align with global AML and KYC standards for RWAs.
• Decentralized Structure: CNBM's non-custodial nature reduces vulnerability to regulatory interventions.

5. Liquidity Risks

Risk: The success of the CN Forex Market and CNCurrency adoption depends on high liquidity for currency pairs (e.g., CNEUR/CNAED). Low liquidity could lead to rate volatility or poor user experience.

Mitigation Strategies:

• Allocation of 70% of PD Token sale revenue to seed liquidity pools for key currency pairs.
• Incentive programs, such as staking rewards, to encourage liquidity provision.
• Partnerships with decentralized exchanges like Uniswap to boost CNCurrency liquidity.

6. Adoption Risks

Risk: Widespread CNCurrency adoption may face challenges due to competition with dollar-based stablecoins (e.g., USDT, USDC) or lack of user awareness.

Mitigation Strategies:

• Focus on Non-Dollar CNCurrencies: Instead of directly competing with dollar-based stablecoins, CNBM invests in non-dollar stablecoins like CNRUB (Russian Rubles), CNTRY (Turkish Lira), CNTOM (Thai Tomans), CNINR (Indian Rupees), CNIRR (Iranian Rials), and CNYEN (Chinese Yuan). This strategy fills the gap for non-dollar stablecoins, boosting adoption in local economies, such as promoting CNRUB in Russia or CNINR in India.
• Targeted Marketing Campaigns: Leveraging platforms like X and campaigns like #CNBM to raise awareness in key regions.
• Business Integration: Collaborating with e-commerce platforms to accept CNCurrencies as payment options.
• Early Adopter Incentives: Limited airdrops and staking rewards to accelerate adoption.

Why It Matters

CNBM's risk analysis and mitigation strategies reflect its commitment to a secure, sustainable, and trustworthy ecosystem. By anticipating security, fiat, crypto, regulatory, liquidity, and adoption challenges, and implementing robust measures like multi-collateral backing, stable redemption, a $500,000 Bug Bounty, and a non-dollar stablecoin focus, CNBM safeguards user interests. This transparent approach positions CNBM as a pioneer in decentralized finance, ready to shape a fair and inclusive future.

CNBM is more than a DeFi protocol; it's a revolution to redefine global money and trade through decentralized finance. By introducing CNCurrencies—stablecoins like CNUSD, CNEUR, CNRUB, CNTRY, CNINR, and CNIRR, pegged to local currencies and backed by credible assets such as cryptocurrencies (ETH, BTC) and tokenized real-world assets (RWAs) like gold and real estate—CNBM fills the gap for non-dollar stablecoins and reduces dollar dependency. The innovative Dual Value Tokenization Model (DVTM) blends stability for daily transactions with flexibility for investments, while the CN Forex Market enables direct trading of pairs like CNEUR/CNAED without dollar intermediaries.

CNBM's achievements, from completing DVTM research and CertiK security audits to growing a community on X via the #CNBM campaign and deploying a DBanks testnet, demonstrate tangible progress. Multi-collateral backing and robust redemption mechanisms ensure CNCurrencies retain value even if fiat currencies (e.g., TRY) or crypto assets collapse to zero. The founder's commitment to community-driven governance—allocating 100% of protocol revenue to PD Token holders—sets CNBM apart as a fair and transparent ecosystem.

CNBM envisions a future where local economies thrive with stablecoins like CNTOM (Thailand) or CNYEN (China), cross-border payments are cheap and instant, and assets remain resilient against crises. Whether you're an investor, a business, or a user seeking decentralized financial tools, CNBM invites you to join this transformation.

Call to Action

• Purchase PD Tokens: Participate in the PD Token sale to become a Primary Dealer, shape CNBM's governance, and earn 100% of protocol revenue. Visit https://x.ai/CNBM for details.
• Strengthen the CNBM Community: Follow us on X, engage in the #CNBM campaign, and help promote CNCurrencies like CNIRR or CNRUB in your region.
• Experience CNCurrencies: Use NFC-enabled wallets for instant payments, safeguard assets with CNAED or CNTRY, or earn yields by staking CNUSD in DeFi.

CNBM is an invitation to build a world where decentralized finance serves everyone. Seize the moment and become part of this transformative future!

Between 2024 and 2028, CNBM will use funds raised from PDToken sales (70% liquidity, 20% technical development, 5% marketing, 5% founders) to build the infrastructure for issuing and supporting local stablecoins (CNCurrencies)—digital assets backed by a mix of cryptocurrencies and real-world assets, designed to mirror real-world fiat currencies.

The goal is to address the growing demand for diverse, reliable, and dollar-independent stablecoins. As more CNCurrencies are introduced, natural trading pairs will emerge among them and with major cryptocurrencies, laying the groundwork for a decentralized forex market (CN Forex).

CNBM employs specialized blockchain and DeFi terminology that may be unfamiliar to some audiences. This glossary offers brief, accessible definitions of the project's core terms and features, empowering everyone to confidently engage with the CNBM ecosystem. Key concepts are outlined below:

1. CNBM (Crypto Native Backed Minting)

Acronym for Crypto Native Backed Minting, embodying the project's core philosophy: creating decentralized money rooted in blockchain, backed by credible assets (cryptocurrencies and RWAs). CNBM aims to deliver stablecoins with intrinsic value, independent of fiat reserves, transforming global trade.

2. CNCurrency

Decentralized stablecoins named after CNBM (e.g., CNAED for Crypto Native AED, CNTRY for Crypto Native TRY). Pegged to local or global currencies, backed by diverse assets (e.g., ETH, tokenized gold), they are designed for payments, savings, and DeFi trading.

3. DBanks (Decentralized Bank)

Acronym for Decentralized Bank, a non-custodial infrastructure that issues and manages CNCurrencies via smart contracts. Each DBanks is tailored to a specific CNCurrency (e.g., DBanksUSD for CNUSD), executing collateralization, issuance, and redemption transparently.

4. Dual Value Tokenization Model (DVTM)

An innovative model splitting an asset (e.g., ETH, tokenized gold) into two tokens: a stable CNCurrency with fixed value for daily transactions, and a volatile RC Token absorbing market fluctuations. DVTM combines stability and flexibility.

5. RC Token (Residual Claim Token)

A volatile token issued alongside a CNCurrency from a collateral asset. Its value equals the asset's market value minus the CNCurrency's fixed value (e.g., $1 for CNUSD). RC Tokens are used for investment, interest-free borrowing, or DeFi trading.

6. RC Debt Issuance

A feature allowing RC Token holders to borrow interest-free, non-expiring loans by providing their RC Token as collateral, which is locked. A fixed percentage of the corresponding base asset's value is lent, determined by the maximum loan-to-value (LTV) ratio (e.g., 0.99 or 0.999) set at DBanks deployment and immutable thereafter. This mechanism substitutes collateral with live debt.

7. AutoLoop

An advanced feature exclusive to PD Token holders, automating the cycle of minting CNCurrencies, receiving RC Tokens, borrowing against RC, and reinvesting the base asset. PDs can set a fixed number of loops (e.g., 10 or 20) or continue until maximum debt capacity, enhancing financial efficiency.

8. PD Token (Primary Dealer Token)

A token representing ownership and governance in CNBM. PD Token holders can mint CNCurrencies, set protocol parameters, and receive 100% of protocol revenue, playing a central role in decentralized governance.

9. PD Assembly

The community of PD Token holders making decisions on protocol proposals via Soft Consensus. This decentralized body ensures the ecosystem's health and growth.

10. CN Forex Market

A decentralized market for direct trading of CNCurrency pairs (e.g., CNEUR/CNAED, CNUSD/CNTRY) without dollar intermediaries. It discovers real exchange rates through supply and demand.

11. RWA (Real-World Asset)

Real-world assets like gold, real estate, or equities tokenized on the blockchain. RWAs enhance CNCurrency stability and credibility.

12. Soft Consensus

A decentralized governance method where the PD Assembly decides through open discussions and voluntary agreement, promoting flexibility over mandatory voting.

13. Multi-Collateral Backing

The CNCurrency backing system using a mix of assets (cryptocurrencies and RWAs). This diversification ensures value preservation through redemption of other collateral if one asset fails.

Why It Matters

This glossary simplifies CNBM's complex concepts for all audiences, from DeFi newcomers to seasoned investors. By clarifying terms and features, CNBM opens its decentralized financial ecosystem to the world, making participation in a fair, inclusive future more accessible.

Since its inception, CNBM has made significant strides toward creating a decentralized financial ecosystem. The project has achieved notable milestones in technical development, strategic partnerships, and community growth. These accomplishments not only reflect progress but also testify to CNBM's dedication to realizing a fair and global decentralized financial future. Below are CNBM's most significant achievements to date:

1. Completion of Technical Research and Development

The initial development team successfully completed the project's research phase, designing the innovative Dual Value Tokenization Model (DVTM). This model, the core of CNCurrency issuance and RC Token creation, has been validated by DeFi experts. The initial DBanks infrastructure for issuing multi-collateralized stablecoins has also been finalized, ready for testnet deployment.

• Key Achievement: Publication of DVTM technical documentation, receiving positive feedback from the blockchain community, laying the groundwork for smart contract development.

2. Initial Smart Contract Audits

To ensure security and reliability, CNBM conducted initial smart contract audits with CertiK, a leading blockchain auditing firm. These audits identified and resolved potential vulnerabilities, positioning CNBM for secure DBanks launches. A $500,000 Bug Bounty program has also been initiated to engage the community in enhancing protocol security.

• Key Achievement: Completion of CertiK's initial audit and receipt of a security certification for smart contracts, boosting trust among developers and investors.

3. Community Growth and Social Engagement

Leveraging platforms like X and the #CNBM campaign, CNBM has built a growing community of supporters, developers, and early adopters in target regions (e.g., Middle East, Europe, Asia). This community actively provides feedback to refine the protocol and promotes non-dollar CNCurrencies like CNRUB, CNTRY, and CNINR.

• Key Achievement: Attracting over [placeholder, e.g., 50,000] followers on X and forming regional groups to support CNCurrencies like CNAED in the UAE and CNYEN in China.

4. Initial Partnerships for RWA Integration

CNBM has established preliminary partnerships with real-world asset (RWA) tokenization platforms to integrate assets like gold, real estate, and equities as CNCurrency collateral. These partnerships enable collateral diversification, enhancing the stability and credibility of stablecoins.

• Key Achievement: Signing initial agreements with [placeholder, e.g., two] RWA platforms to tokenize assets worth [e.g., $100 million] by the end of 2025.

5. Testnet Deployment

CNBM successfully deployed a testnet version of the DBanks for CNUSD issuance on Ethereum. This test included issuing sample CNCurrencies, trading currency pairs in the CN Forex Market, and redeeming collateral, validating protocol performance in simulated conditions.

• Key Achievement: Successful testnet execution with community participation, yielding valuable feedback for protocol refinement before mainnet launch.

Why It Matters

CNBM's track record and achievements underscore its commitment to transforming its decentralized financial vision into reality. From completing technical research and securing audits to fostering community growth and forging strategic partnerships, these successes establish a robust foundation for global CNCurrency adoption. As CNBM continues this trajectory, it is poised to lead DeFi, empowering local economies, reducing dollar dependency, and delivering an inclusive financial future for users worldwide.

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Team and Advisors

The success of any blockchain project hinges on its team. CNBM is driven by the initial development team, a group of seasoned professionals in blockchain, decentralized finance (DeFi), and tokenized real-world assets (RWAs). Supported by distinguished advisors, they bring a blend of technical innovation, strategic insight, and dedication to decentralized finance. Below is an overview of the team and advisors and their roles in advancing CNBM's vision:

Initial development team: Pioneers of Decentralized Finance

The initial development team comprises developers, economists, and strategists with decades of collective experience in blockchain technology, DeFi protocol design, and digital asset management. They have built CNBM's technical foundation, including the innovative Dual Value Tokenization Model (DVTM) and DBanks infrastructure.

• Technical Leaders: Senior developers with backgrounds in leading blockchain projects like Ethereum and Solana have designed CNBM's non-custodial smart contracts, prioritizing security and scalability.
• Financial Experts: Economists with expertise in traditional and decentralized markets have developed multi-collateral mechanisms and the CN Forex Market to ensure CNCurrency stability and global adoption.
• Adoption Strategists: Members with experience in tech marketing and business partnerships drive regional adoption strategies, such as promoting CNRUB in Russia or CNINR in India.

The initial development team receives no protocol revenue, with all proceeds allocated to PD Token holders, reflecting their commitment to community-driven governance and collective ecosystem success.

Advisors: Strategic Guidance for the Future

CNBM benefits from the support of esteemed advisors whose expertise in blockchain, finance, and legal compliance propels the project toward global success.

• Blockchain Advisors: Experts in DeFi protocol development and smart contract auditing ensure CNBM's technical security and efficiency.
• RWA Advisors: Specialists in tokenized assets, with experience integrating assets like gold and real estate into blockchain, guide the design of CNCurrency's diverse collateral.
• Legal Advisors: Blockchain regulation experts ensure CNBM's compliance with global AML and KYC standards, particularly for RWAs.

Shared Vision

The initial development team and advisors are united by a common goal: to create a decentralized financial system that reduces dollar dependency, empowers local economies, and provides equitable access to financial tools for all. Their extensive expertise and commitment to transparency and innovation position CNBM as a DeFi leader.

Why It Matters

The CNBM team and advisors are the pillars of the project's success. Their blend of technical prowess, financial insight, and legal expertise, coupled with a commitment to decentralized governance, ensures CNBM is not just an innovative concept but a sustainable, trustworthy ecosystem. This strong foundation enables CNBM to overcome decentralized finance challenges and deliver an inclusive, equitable future for global users.

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TOKENIZATION AND DVTM

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COLLATERAL AND STABILITY

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GOVERNANCE AND INCENTIVES

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MARKET INFRASTRUCTURE

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LIQUIDITY, ACCESS, AND UX

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RESILIENCE AND EXECUTION

ADVANCED QUESTIONS