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Appendix 4: Application engines
The application engines used in the proof-of-concept, that is, the combination of DLT modules and centralised systems which performed the required business process logic and used for the various functions utilised in the debenture token market included:
• Centralised SAMOS and ISIN were used to abstract the complexity of integrating to these systems and provided a simulation of the real-world links to the RTGS system and the National Numbering Agency.
• The wCBDC engine interfaced with the SAMOS simulator and DLT modules on the wCBDC Zone to facilitate the creation of wCBDC.
• The centralised wCBDC bridge was implemented as DLT modules on both the wCBDC Zone and the Khokha Hub to safely transfer wCBDC with fail-forward redundancy.
• The centralised debenture engine simulated the auction process, interfacing with the debenture token module on the Khokha Hub to issue and settle debentures on DLT.
• The Khokha Token engine interfaced with the SAMOS simulator to earmark funds as collateral, and with the Khokha Token module on the Khokha Hub DLT to lock and unlock collateral for Khokha Tokens, and to manage the redemption, netting and liability of these tokens.
• The maturity engine was a Khokha Hub DLT module that executed maturity settlement, recorded pledges against maturity to create synthetic liquidity, and performed maturity actions – including claims on the created synthetic liquidity for wCBDC at maturity.
• The Khokha Hub DEX DLT module was used for P2P DEX traded debenture synthetics, exchanging one token for another at a rate of exchange determined by a P2P order book.
APPENDICES
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