A digital security for a physical asset class.
EMRL.D is a live digital security token providing economic exposure to a structured emerald-linked asset framework, governed through a Special Purpose Vehicle (P/E Capital DAO LLC) and an operational Colombian entity (EMRL.D S.A.S.). The framework references a Safe Keeping Receipt (SKR) over gemstone-related assets under defined legal agreements.
The ecosystem integrates real-world gemstone sourcing, institutional governance, and blockchain-based financial infrastructure into a transparent, scalable framework for participation in emerald-linked exposure. The system is descriptive of an implemented structure rather than a primary investment solicitation.
EMRL.D combines:
- Physical emerald asset acquisition
- Structured capital deployment
- Operational sourcing through Colombia-based entities
- Digital token infrastructure
This approach enables participation in a historically illiquid and fragmented asset class through a modern, accessible system.
This is a security, not a utility token. Every buyer is an investor. Returns are not guaranteed and depend on the real market for graded emeralds plus the issuer's ability to execute. Past emerald price performance is not an indicator of future NAV.
Fine emeralds are an asset trapped in amber.
The global emerald market operates under significant structural limitations:
- Fragmented supply chains
- Lack of pricing standardization
- Limited liquidity
- Restricted access to non-specialized participants
Transactions are often conducted privately, with inconsistent valuation methods and minimal transparency. These inefficiencies limit capital participation and prevent the market from scaling efficiently.
Scarcity you can photograph.
Emeralds represent a unique alternative asset class characterized by:
- Natural scarcity and constrained supply
- Long-term historical value preservation
- Dual demand from luxury and investment markets
- Low correlation with traditional financial assets
Unlike commodities such as gold, emeralds derive value from both rarity and craftsmanship, creating a differentiated asset profile.
Tokenization without the hand-wave.
EMRL.D introduces a structured framework that connects:
Design principles
- Emerald sourcing and inventory
- Asset-referenced valuation models
- Institutional governance
- Blockchain-based token infrastructure
The system is designed to improve:
- Transparency
- Accessibility
- Market participation
- Capital efficiency
Three tiers, three separations.
| Tier | Entity | Responsibility | Check |
|---|---|---|---|
| 01 Issuer | Emerald S.A.S. | Token contract, offering, holder relations | Board & KPMG |
| 02 Custody | Bonded vault · Fiduciaria Bogotá | Physical stones, lien enforcement | Independent trustee |
| 03 Market | BitMart + Uniswap v3 | Primary & secondary liquidity | Exchange compliance + on-chain |
SPV — P/E Capital DAO LLC
The Special Purpose Vehicle (SPV) serves as the core governance and asset structure entity.
Responsibilities include:
- Token issuance
- Treasury management
- NAV reporting
- Strategic capital allocation
- Asset exposure through secured asset agreements (SKR) and equity participation in EMRL.D S.A.S.
EMRL.D S.A.S. (Colombia)
EMRL.D S.A.S. is the operational entity responsible for:
- Emerald sourcing and procurement
- Inventory aggregation and management
- Certification and valuation coordination
- Market integration and trade execution
The entity operates within Colombian legal frameworks and integrates directly with local supply chains.
Rights you can point to.
EMRL.D S.A.S. ownership is structured as follows:
- 25% — SPV (P/E Capital DAO LLC)
- 35% — AIX Group
- 20% — Artisanal miners and mining cooperatives
- 20% — Seed investors
This structure aligns incentives across:
- Capital providers
- Operators
- Supply partners
Governance Framework
The governance model includes:
- Board of Directors oversight
- Investor and partner representation
- Strategic and operational decision-making controls
Responsibilities include:
- Asset management oversight
- Strategic planning and expansion
- Financial governance and compliance
- Approval of major partnerships
“The trustee’s lien is held for the benefit of the EMRL.D holders as their interests appear on the Polygon ledger at the snapshot block.” — Lien Deed, §4.2
What's in the vault.
EMRL.D references a Safe Keeping Receipt (SKR) representing approximately $90M in gemstone-related assets under defined legal agreements. The SKR is a documented record subject to pledge conditions, performance criteria, custody arrangements, and verification processes — not cash reserves, automatic ownership, or unconditional collateral.
- Documented under agreement, not cash
- Subject to defined transfer and performance conditions
- Not unconditional collateral; rights subject to enforcement processes
Asset Components
The asset base may include:
- Emerald inventory and stockpiles
- Treasury reserves
- Equity participation in EMRL.D S.A.S.
Certification & Valuation
Assets are validated through:
- Local Colombian gemological certification
- Independent appraisal services
- International verification processes (where applicable)
Custody
Physical assets are maintained through institutional-grade custody providers, ensuring:
- Secure storage
- Documentation integrity
- Auditability
Supply, allocation, and the vest.
Allocation
- 40% — Strategic Partner
- 20% — EMRL.D S.A.S.
- 15% — Managers
- 15% — Treasury (non-discretionary)
- 10% — Market Access & Development
Initial price anchored to collateral at issuance.
Seed: $0.20
Listing: $2.00
Future price evolution depends on:
- Asset growth
- Operational execution
- Market conditions
No guaranteed returns or price targets are implied.
NAV is a number with a paper trail.
Net Asset Value (NAV) serves as a reference metric.
NAV considers:
- Emerald asset base
- Treasury reserves
- Equity participation in EMRL.D S.A.S.
NAV does not determine market price but provides a baseline for evaluation.
Two venues, complementary roles.
Liquidity is supported through:
- Centralized exchange listings (e.g., BitMart)
- Secondary market participation
The system does not rely on guaranteed buybacks.
Restricted jurisdictions. US retail participants must transact via the BitMart workflow only; Lithuania is restricted per issuer terms. See How to Buy for your region.
What could go wrong.
Key risks include:
| Risk | Severity | Likelihood | Mitigation |
|---|---|---|---|
| Emerald price drawdown | High | Medium | Diversified grade inventory, NAV band support |
| Custody / physical loss | High | Low | Lloyd's 110% insurance, bonded vault, trustee lien |
| Regulatory change | Medium | Medium | Quarterly review, counsel in 4 jurisdictions |
| Smart-contract exploit | Medium | Low | CertiK audit, non-upgradable, Immunefi bounty |
| Liquidity shortfall | Medium | Medium | Treasury MM, dual-venue, redemption option |
| Impersonation / phishing | Low | High | Canonical security page, takedown pipeline |
- Conditional nature of SKR backing
- Variability in gemstone valuation
- Market liquidity constraints
- Regulatory uncertainty
- Operational risks in sourcing regions
Participants should evaluate all risks before engaging.
What's already shipped — and what's next.
The project roadmap includes:
How to stay informed. Material updates are posted first to emerald.pecado.app, then to the investor portal, and only then to social channels. Anything moving in the reverse order isn’t ours — see the security page.