A real company behind every token.
Emerald S.A.S. is the Colombian issuer of record. Quarterly NAV attestation, insider lock-ups, and on-chain disclosures are not marketing — they are the operating agreement you hold rights under.
Governance Objectives
Four non-negotiable commitments.
Each one is codified in the issuer bylaws, the token smart contract, or both. They translate directly into holder protections you can verify.
Ring-fenced assets
Emerald inventory referenced by the framework sits on a dedicated balance sheet, legally segregated from operating capital. Movements require board resolution plus trustee notice.
Verifiable NAV reference
Quarterly attestation by KPMG, published on-chain and on this site within 45 days of quarter-end. Spot NAV re-computed intraday. NAV is a reference metric and does not represent a guaranteed price or redemption value.
Insider alignment
Team and advisor allocations carry a 24-month cliff plus 36-month linear vesting. Sales disclosed on-chain by treasury wallet signature.
Asset delivery policy
Any redemption, buyback, or asset delivery mechanisms are subject to issuer-defined policies, eligibility requirements, liquidity conditions, and the governing legal documents. No guaranteed redemption mechanism exists outside that framework.
Ownership Structure
From issuer to wallet.
Two separated layers: the legal issuer of record, and the holder & market layer. Each has its own accountability surface — neither can override the other without board resolution.
Tier 01 · Issuer
Emerald S.A.S.
Colombian sociedad por acciones simplificada. Sole deployer of the EMRL.D contract, signatory to the offering documents, legally obligated to every disclosure published on this site.
Tier 02 · Holder & Market Layer
EMRL.D · Polygon
ERC-20, non-upgradable, 100M fixed supply. Every holder is a pro-rata beneficiary under the issuer's offering documents.
BitMart Spot
Regulated CEX listing. KYC-gated primary purchases outside restricted jurisdictions.
Uniswap v3 · Polygon
Non-custodial secondary venue. 0.3% fee pool, seeded by treasury, monitored for wash activity.
Oversight Rhythm
A quarterly cadence you can verify on-chain.
Each cycle produces artifacts a holder can inspect without asking us: attestations, signed hashes, publicly filed reports. We don't ask you to take our word for it.
Every day
Spot NAV recalc
Graded inventory × market reference prices. Published on the homepage ticker and on-chain oracle.
By: Treasury · auto
Monthly
Inventory reconciliation
Physical inventory count vs. NAV ledger. Variance >0.25% triggers a board alert and restatement.
By: Issuer ops
Quarterly
KPMG attestation
Independent attestation of NAV, reserves, and offering compliance. Published within 45 days of quarter-end.
By: KPMG Colombia
Annually
Shareholder meeting
Full-year audited financials, material policy changes, and any amendments to the offering documents. Minutes published.
By: Emerald S.A.S.
Asset Transparency Dashboard
What backs the token, right now.
Values refreshed on each daily NAV recomputation. Historical files are permalinked below and available in the investor portal.
SKR-referenced asset composition
By NAV reference · 2026-04-22
Key metrics
Updated intraday
Spot price
—USD
—
Reserve coverage
102.3%
policy reference, not a guarantee
Circulating
62.4Mtokens
of 100M fixed
Last attestation
Q12026
published 18 Apr
Governing Documents
Every rule, in writing.
The canonical set. Each document is hashed into the NAV ledger on publication — you can verify any copy you're handed matches what the issuer filed.
Articles & Bylaws
Emerald S.A.S. founding documents. Defines share classes, director duties, quorum rules, and amendment procedure.
a8f2…c1d9Private Placement Memorandum
Reg D 506(c) offering document. Subscription terms, eligible investors, redemption mechanics, and the full risk section.
3b7e…92afSmart-Contract Specification
EMRL.D token behavior, transfer restrictions, pause conditions, and redemption hooks. Matches the on-chain bytecode.
f04c…88e1Insider Lockup & Vesting Schedule
Per-wallet allocations, cliffs, and vesting curves. On-chain enforcement plus treasury signing policy.
6d2a…4b07NAV & Reserve Policy
Valuation methodology, pricing sources, intraday recomputation rules, and the variance thresholds that trigger restatement.
c91f…d73bRedemption Procedure
How qualifying holders convert EMRL.D into graded stones: thresholds, KYC, logistics, and cooling-off.
28bd…5fa4Responsible Tokenization & Risk
Real assets come with real constraints.
Two principles frame our posture. Both are enforced at the smart-contract layer as well as the corporate layer — we don't depend on good intentions.
Human & environmental standards
Emerald sourcing is the single largest non-financial risk in this sector. We address it directly:
- Origin documented on every stone — origin report plus supplier chain-of-custody.
- Responsible Jewellery Council aligned supplier vetting. No Muzo surface-dig purchases.
- Community fund — 0.5% of net issuer revenue ring-fenced for Boyacá mining communities.
- Carbon accounting for cutting, grading, and reserve operations, published annually.
What could go wrong — and who's on it
Mapped to the accountable function at the issuer, with pre-agreed escalation paths:
- Price/NAV drift — Valuation function · quarterly re-benchmark
- Reserve & physical risk — Issuer ops · reconciliation monthly
- Regulatory — Counsel · quarterly jurisdiction review
- Smart-contract — Protocol function · continuous monitoring, Immunefi bounty
Investor Portal
See the full disclosure set.
Every document referenced here — plus cap table, redemption mechanics, and historical filings — lives in the investor portal at aix.pecado.app.