System manifest

TROPTIONS technical — static export for GitHub Pages

TROPTIONS system manifest — post-MSB hybrid fiat-crypto blueprint

Last updated: 2026-05-21
Overall status: DESIGN / PIPELINE until FinCEN MSB program and correspondent omnibus are live and verified.
Labels: PROVEN (repo + live HTTP/explorer), PIPELINE (designed, stub, awaiting credentials), PROJECTION (scenario math — not forecasts or audited financials).

Related: TROPTIONS revenue engine · MSB fiat rails · Partner bank mesh · On-chain proof · XRPL & Stellar · Architecture

PDF export (optional): scripts/generate-manifest-pdf.ps1 — requires pandoc (and optionally wkhtmltopdf); HTML fallback always written to docs/downloads/SYSTEM_MANIFEST.html.

Honesty banner (read first)

Claim Allowed today Label
~874M IOUs on XRPL + Stellar Issued supply / proven demand PROVEN (ledger)
~874M = bank reserves or AUM Do not claim Misleading
Fully-backed 1:1 USD redemption Not operational PIPELINE
Fiat rails (FedWire / SWIFT / MSB) Stubs in fiat-rails/ DESIGN / PIPELINE
Neobank / BaaS revenue tables Product design only PROJECTION
Funding $2M–$3.5M Internal capitalization plan PROJECTION

Shift when live: unfunded promise-to-pay IOUs → redeemable claims backed by audited omnibus reporting (not marketing copy).

Hybrid fiat-crypto model

  1. PROVEN today: Crypto IOUs on XRPL/Stellar/Polygon; Academy Stripe; launcher; x402 health; L1 node.
  2. PIPELINE: USD/EUR enters via FedWire/ACH/SWIFT → compliance-engine screens → payment-orchestrator routes → omnibus credit → mint IOU 1:1 on ledger.
  3. Redemption (PIPELINE): Burn IOU → orchestrator → compliance → wire out.
  4. PROJECTION: Neobank app and BaaS APIs sit on the same orchestrator — no live interchange until card program ships.

Legacy Python stubs under backend/payment-orchestrator and backend/msb-compliance (:4098) are superseded by fiat-rails/ (:4022–:4027). No duplicate PM2 apps.

ASCII architecture (post-MSB target)

┌─────────────────────────────────────────────────────────────────────────┐
│ CLIENTS: Exchange OS │ Academy │ TTN │ Neobank (PROJECTION) │ x402    │
└────────────┬───────────────────────┬──────────────────┬───────────────┘
             │ fiat intent           │ Stripe (PROVEN)  │ ATP :4020
             v                       v                  v
┌──────────────────────┐    ┌──────────────┐    ┌──────────────┐
│ payment-orchestrator │    │ fth :8091    │    │ popeye :4021 │
│        :4022         │    │ ttn  :8092   │    └──────────────┘
└──────┬───────┬───────┘    └──────────────┘
       │       │
       │       ├──► compliance-engine :4025 (KYC/OFAC/SAR)
       │       ├──► fedwire-adapter  :4023
       │       └──► swift-bridge     :4024
       │
       v
┌──────────────────┐     mint/burn 1:1      ┌─────────────────────────┐
│ Bank omnibus     │ ◄──────────────────────►│ XRPL/Stellar issuer     │
│ (PIPELINE)       │                           │ ~874M IOU PROVEN demand │
└──────────────────┘                           └─────────────────────────┘
       ▲
       └── iou-reserve-monitor :4027 (ledger vs bank — NOT claiming backed today)

Port discipline: popeye-relay :4021; fiat rails :4022–:4028; baas-api :4029; x402-gateway-v2 (US) :4030; agent-orchestrator :4031; x402-gateway-eu :4032; x402-gateway-jp :4033; baas-dashboard UI :4040; MCP :4731 — no collision with core backends 8090–8093. See MULTI_X402_MESH, AGENTIC_RAG_AMM.

Fiat-rails service integration table

Service Port Path Upstream / downstream Label
payment-orchestrator 4022 fiat-rails/orchestrator/ Wire webhook → IOU; compliance + FedWire stubs PIPELINE
fedwire-adapter 4023 fiat-rails/fedwire-adapter/ Orchestrator ↔ bank FedWire PIPELINE
swift-bridge 4024 fiat-rails/swift-bridge/ Orchestrator ↔ MT103/202 bureau PIPELINE
compliance-engine 4025 fiat-rails/compliance-engine/ All fiat ingress/egress screening PIPELINE
neobank-api 4026 fiat-rails/neobank-api/ Mobile/card partner (design) PROJECTION
iou-reserve-monitor 4027 fiat-rails/iou-reserve-monitor/ Omnibus statements vs ledger supply PIPELINE
arbitrage-bot 4028 fiat-rails/arbitrage-bot/ x402 orderbook watch → orchestrator arb PIPELINE
baas-api 4029 fiat-rails/baas-api/ Agents, pools, tokens; POST /api/v1/agents PROJECTION
x402-gateway-v2 (US) 4030 fiat-rails/x402-gateway/ Paid proxies; GET /x402/stats PIPELINE
agent-orchestrator 4031 fiat-rails/agent-orchestrator/ Agent Orchestration Layer PIPELINE
MCP XRPL (reserved) 4032 external Ledger tools for agents PIPELINE
x402-gateway-eu 4032 fiat-rails/x402-gateway-eu/ Frankfurt regional gateway PIPELINE
x402-gateway-jp 4033 fiat-rails/x402-gateway-jp/ Tokyo regional gateway PIPELINE
baas-dashboard 4040 fiat-rails/baas-dashboard/ BaaS self-service UI PIPELINE
MCP (vendor) 4731 external Ledger tools; mock when down PIPELINE

Setup: .\scripts\setup-x402-global-mesh.ps1 · .\scripts\setup-second-x402.ps1 · .\scripts\activate-troptions-revenue.ps1 -DryRun · PM2: pm2 start fiat-rails/ecosystem.config.js --only arbitrage-bot,baas-api,x402-gateway-v2,x402-gateway-eu,x402-gateway-jp,agent-orchestrator

OpenAPI: fiat-rails/orchestrator/openapi.yaml

IOU issuer model (PROVEN supply, PIPELINE backing)

Fact Label Investor language
~874M issued on XRPL + Stellar (TROPTIONS, USDC, USDT, EURC, DAI codes) PROVEN Issued demand — not bank reserves
Issuer rJLMST… / GB4FHG… PROVEN Gateway-issued IOUs
USDC/USDT on XRPL PROVEN (IOU) Not Circle/Tether native mainnet tokens
Regulated 1:1 fiat redemption today Not claimed Promise-to-pay until omnibus live
Operator desk ~$175M narrative PIPELINE Attestation only — not verified without bank statements

Sequence diagrams (target state — PIPELINE)

1. Fiat deposit → IOU mint

sequenceDiagram
  participant C as Client
  participant PO as payment-orchestrator :4022
  participant CE as compliance-engine :4025
  participant FW as fedwire-adapter :4023
  participant B as Omnibus bank PIPELINE
  participant XR as XRPL issuer PROVEN

  C->>FW: FedWire/ACH USD in PIPELINE
  FW->>B: Credit omnibus PIPELINE
  B->>CE: Funds received event
  CE->>PO: KYC/OFAC pass PIPELINE
  PO->>XR: Mint IOU 1:1 PIPELINE
  XR-->>C: IOU credit
  Note over C,XR: Today IOUs exist without guaranteed fiat redemption

2. IOU redeem → fiat out

sequenceDiagram
  participant C as Client
  participant XR as XRPL issuer PROVEN
  participant PO as payment-orchestrator :4022
  participant CE as compliance-engine :4025
  participant FW as fedwire-adapter :4023
  participant B as Omnibus bank PIPELINE

  C->>XR: Burn/redeem IOU PIPELINE
  XR->>PO: Redemption request
  PO->>CE: Screen egress
  CE->>FW: Approve wire PIPELINE
  FW->>B: Debit omnibus
  B-->>C: USD settled PIPELINE

3. Cross-border USD → IOU → EUR (SWIFT)

sequenceDiagram
  participant C as B2B client
  participant PO as payment-orchestrator :4022
  participant SW as swift-bridge :4024
  participant CE as compliance-engine :4025
  participant XR as IOU ledger PROVEN

  C->>PO: USD funding intent PIPELINE
  PO->>CE: Sanctions + KYC
  PO->>XR: Mint USD IOU PIPELINE
  PO->>SW: MT103 EUR leg PIPELINE
  SW-->>C: Beneficiary credited PIPELINE

Implementation phases 1–5

Phase Scope Exit criteria Label
1 MSB artifact vault; fiat-rails stubs; IOU copy fix on investor surfaces Six /health return pipeline; PM2 ports 4022–4027 PIPELINE
2 Orchestrator contracts; Exchange OS fiat behind feature flag POST /payments/request wired to compliance mock PIPELINE
3 FedWire sandbox + SWIFT skeleton with bank partner First sandbox wire trace (non-prod) PIPELINE
4 Omnibus live; iou-reserve-monitor daily reconcile Attestation memo separate from on-chain supply PIPELINE → PROVEN
5 Neobank/BaaS pilots GL + legal sign-off before marketing interchange PROJECTION

Revenue streams A–E

Stream Description Label
A Issuance/redemption fees (0.1–0.25% illustrative) PIPELINE
B Float margin (omnibus yield − holder yield) PIPELINE
C Exchange/desk spread PIPELINE (desk attestation gated)
D Cross-border B2B (USD→IOU→EUR) PIPELINE
E WC26 / TTN sponsor settlement PIPELINE

PROVEN cash today: Academy, launcher, x402 — not MSB wire volume or neobank interchange.

6. TROPTIONS revenue engine (canonical map)

Full activation waves (IMMEDIATE / HOURS / MSB go-live), 18 labeled streams (A–F + live core), daily PROJECTION snapshot, flywheel diagram, and operator activation steps (batch pools, DRY_RUN arbitrage, x402 gateway, wire endpoint):

→ TROPTIONS_REVENUE_ENGINE.md — honest PROVEN / PIPELINE / PROJECTION labels; references commits fac96df (wire → IOU), ebc3aef (fiat-rails scaffold).

Economic scenarios (PROJECTION only)

Scenario Illustrative monthly Annualized Label
Conservative rails throughput ~$305K/mo ~$3.6M/yr PROJECTION
Scale rails throughput ~$2.6M/mo ~$31M/yr PROJECTION
$50M/mo IOU flow (A–E bundle) ~$578K/mo — PROJECTION
$500M/mo IOU flow ~$4.9M/mo — PROJECTION

Funding ask (PROJECTION)

Item Range Label Use (planning)
MSB + bank + compliance + engineering + reserve seed $2M – $3.5M PROJECTION Omnibus, legal, integration — not an offering term sheet

(Prior $5–10M range superseded for investor pack alignment; adjust only with counsel.)

Neobank & BaaS (PROJECTION)

Neobank line (illustrative) 10K users 100K users Label
Interchange ~1.5% $75K/mo $750K/mo PROJECTION
Premium subs $10K/mo $100K/mo PROJECTION
Float margin $80K/mo $400K/mo PROJECTION
Subtotal ~$170K/mo ~$1.3M/mo PROJECTION
BaaS Illustrative $/mo Label
5 × ~$10K platform $50K PROJECTION
50 × ~$10K $500K PROJECTION

PM2 service map

Source of truth: ecosystem.config.js. Regenerate: npm run docs:update.

PM2 name Port Label Path Notes
troptions-l1-node 9944 (RPC), 9945 (/metrics) PROVEN l1/ Rust L1; local/operator host
donk-ai-tutor 8090 PROVEN ai/donk-tutor/ RAG + Ollama
fth-backend 8091 PROVEN backend/fth-academy/ Academy API + Stripe patterns
ttn-launcher 8092 PROVEN backend/ttn-launcher/ TTN / sports backend
dao-service 8093 PROVEN backend/dao-service/ Governance API
x402-gateway 4020 PROVEN backend/x402-gateway/ Metered ATP sidecar
popeye-relay 4021 PROVEN backend/popeye-relay/ Stale agent relay
payment-orchestrator 4022 PIPELINE fiat-rails/orchestrator/ Wire → IOU (POST /api/v1/payments/wire)
fedwire-adapter 4023 PIPELINE fiat-rails/fedwire-adapter/ FedWire RTGS adapter stub
swift-bridge 4024 PIPELINE fiat-rails/swift-bridge/ MT103/202 messaging stub
compliance-engine 4025 PIPELINE fiat-rails/compliance-engine/ AML/KYC/OFAC stub
neobank-api 4026 PROJECTION fiat-rails/neobank-api/ Neobank API design stub
iou-reserve-monitor 4027 PIPELINE fiat-rails/iou-reserve-monitor/ Omnibus vs ledger reconciliation stub

5. MSB / SWIFT / FedWire & IOU Revenue Model

Placeholder — run npm run docs:update to sync from docs/TROPTIONS_IOU_ISSUER_MANIFEST.md.

Banking rails status

Rail Label Monorepo hook
MSB (FinCEN program) PIPELINE Operator vault + compliance-engine
FedWire RTGS PIPELINE fedwire-adapter :4023
SWIFT MT103/202 PIPELINE swift-bridge :4024
ACH (correspondent) PIPELINE Via bank partner
Stripe (Academy) PROVEN fth-backend :8091
x402 / Apostle PROVEN (health) :4020 / :7332 when up

Fiat ↔ crypto flow (overview)

flowchart TD
  subgraph clients [Clients]
    A[User / investor]
    C[Exchange OS]
    D[Academy :8091]
  end

  subgraph proven [PROVEN]
    D -->|Stripe| J[Stripe]
    C -->|Crypto IOUs| I[XRPL / Stellar / Polygon]
    A -->|ATP| X[x402 :4020]
  end

  subgraph pipeline [PIPELINE fiat-rails]
    A --> PO[payment-orchestrator :4022]
    PO --> CE[compliance-engine :4025]
    PO --> FW[fedwire-adapter :4023]
    PO --> SW[swift-bridge :4024]
    FW --> BANK[Omnibus TBD]
    PO --> MON[iou-reserve-monitor :4027]
  end

  PO -->|mint/burn 1:1| I

Next actions (operator)

  1. Run .\scripts\setup-fiat-rails.ps1 and start six fiat PM2 apps; verify /health on 4022–4027.
  2. Store MSB/bank/API keys in operator vault — copy fiat-rails/.env.template → .env locally (never commit).
  3. Legal review of BSA/AML pack before any live wire.
  4. Re-run npm run docs:update and .\scripts\generate-manifest-pdf.ps1 before investor meetings.
  5. Fix Exchange OS / investor copy: IOU ≠ Circle native USDC; ~874M ≠ reserves.

API surface (PIPELINE)

POST /api/v1/payments/wire      # orchestrator :4022 — wire webhook → IOU mint
GET  /api/v1/payments/:id       # orchestrator :4022 — payment status
POST /screen                    # compliance-engine :4025 — dev approve (strict mode optional)
POST /verify                    # fedwire-adapter :4023 — wire verify stub
POST /api/compliance/screen     # compliance-engine :4025 (alias)
POST /api/compliance/kyc        # compliance-engine
POST /api/fedwire/send          # fedwire-adapter :4023
POST /api/swift/send            # swift-bridge :4024
GET  /api/swift/status/:id      # swift-bridge
GET  /api/reserve/attestation   # iou-reserve-monitor :4027
GET  /api/neobank/balance       # neobank-api :4026 (PROJECTION)
POST /api/v1/arbitrage          # orchestrator :4022 — arb execute/dry-run
POST /api/v1/tokens             # baas-api :4029 — x402 $10K setup stub
POST /api/v1/pools              # baas-api :4029 — single pool (402)
POST /api/v1/pools/batch        # baas-api :4029 — batch pools (402 sum)
GET  /api/v1/pools/jobs         # baas-api :4029 — job queue
POST /api/v1/agents             # baas-api :4029 — agent register
POST /api/v1/agents/:id/trades  # baas-api :4029 — trade report (PROJECTION)
GET  /api/v1/agents/:id/revenue # baas-api :4029 — PROJECTION revenue
GET  /api/v1/dashboard/:id/revenue  # baas-api — PROJECTION revenue
GET  /x402/market-data/orderbook    # x402-gateway :4020

See ARBITRAGE_AND_BAAS · LOCAL_PREVIEW.

Document index

Doc Purpose
SYSTEM_MANIFEST This file
TROPTIONS_REVENUE_ENGINE Waves, 18 streams, flywheel, activation
MSB_FIAT_RAILS Capitalization tree
ON_CHAIN_PROOF Explorer tables
fiat-rails/README Stub ops
TROPTIONS_IOU_ISSUER_MANIFEST.md IOU issuer v3.0 (section 5 source)
PARTNER_BANK_MESH Multi-bank mesh + Alexandrite (PROJECTION)
fiat-rails/orchestrator/README Wire → IOU ops
ARBITRAGE_AND_BAAS Arbitrage bot + BaaS x402
BAAS_BATCH_POOLS Batch pool call sequence (:4029)
MULTI_X402_MESH NY / Frankfurt / Tokyo x402 mesh
fiat-rails/baas-api/README BaaS liquidity API
LOCAL_PREVIEW Port 3123 preview fix

PM2 rows sync from ecosystem.config.js. Prose labels edited here.

https://fthtrading.github.io/Troptions-full-pack/technical/SYSTEM_MANIFEST.html