# APACX APACX is a technology provider led by experienced professionals with a track record of success in Web3, Fintech, e-banking, and digital entertainment. We serve a wide range of clients, including traditional financial institutions, DeFi projects, and companies transitioning from Web2 to Web3, offering tailored go-to-market services. ### Our Vision Build a reliable, efficient, and scalable stablecoin infrastructure that drives successful commercialization and long-term growth. ### Our Mission Build a decentralized financial framework that ensures stability, transparency, and accessibility across APAC. ### Website [www.apacx.io](https://www.apacx.io/)
### Social Media Twitter: \ Linkedin: ### Contact Us For business collaborations, partnership discussions, or consultation requests, Feel free to connect with us via `contact@apacx.org` # PHT Overview **APACX's Peso-Pegged Stablecoin Philippines Token (PHT)** is the new generation stablecoin for the Philippines market currently deployed on Ethereum and Tron. PHT integrates MakerDAO’s Multi-Collateral Dai (MCD) with APACX’s proprietary innovations, enhancing security, optimizing yield mechanisms, and building a comprehensive infrastructure that supports both on-chain and off-chain use cases, thereby fostering mass adoption in the Philippines. ### How PHT Works {% hint style="info" %} Certain features of PHT and it's Multi-Collateral System **have not yet been activated** and will only be implemented upon the official launch of the Full Version 1 System, as specified in the [Technical Roadmap](/technical-roadmap). {% endhint %} PHT smart contract allows users to mint PHT by collateralizing approved assets like stablecoins (USDC, USDT at initial stage) in Vaults through the APACX Portal and other platforms. Users deposit collaterals, which are locked in the Vault, to generate PHT. After minting, users can repay the borrowed PHT with Stability Fees incurred, and withdraw their collaterals once the debt is cleared. The Stability Fee, paid in PHT, contributes to the protocol's reserves. If the collateral-to-debt ratio falls too low, the system triggers liquidation through auctions to cover the debt. Any surplus from the auction is added to reserves to stabilize the system. ### Core Components * **Vaults (CDPs)**: Collateralized Debt Positions where users deposit collateral to mint PHT. Each vault type has specific risk parameters. * **Stability Fees**: Variable interest rates applied to outstanding PHT debt, denominated in PHT and accrued continuously through an accumulator formula. * **Liquidation Engine**: Automated system that identifies and processes undercollateralized vaults to maintain system solvency. * **Price Oracle Module**: Secure feeds providing real-time collateral price data via Chainlink oracles. [Price Feed Link](https://docs.chain.link/data-feeds/price-feeds/addresses?network=ethereum\&page=1\&search=php) * **Decentralized Keeper Network**: Independent operators executing critical functions like liquidations and oracle updates. * **Emergency Shutdown Module**: Last-resort mechanism to gracefully unwind the system and return collateral to users. # Competitive Advantages PHT offers a compelling proposition in the evolving world of digital currencies, thanks to its unique features and strategic focus. Below are the key competitive advantages that set PHT apart: ### **Localized Focus** PHT is pegged to the Philippine Peso (PHP), providing direct and tailored solutions for the Filipino remittance and e-wallet markets. This localized approach ensures that PHT serves the specific financial needs of users in the Philippines, offering a seamless and efficient experience for cross-border transactions and e-wallet use. ### **Strategic Local Partnerships** PHT has formed early integrations with local financial services, including key players such as MoneyBees. These strategic partnerships ensure broad coverage and accessibility for users, providing them with an integrated platform for both traditional and digital financial services. By collaborating with these trusted names, PHT strengthens its position in the market and guarantees convenience for its user base. ### **MakerDAO-Inspired Architecture** PHT adopts a proven overcollateralization model inspired by MakerDAO’s Multi-Collateral DAI (MCD), updating it to cater to regional financial nuances. This architecture ensures the stability and reliability of PHT, offering an innovative yet secure mechanism for maintaining the value of the token while addressing the unique requirements of the local market. ### **Real-World Impact** PHT is designed to meet real-world economic needs, including cross-border remittances, digital entertainment, and crypto investments. By focusing on tangible economic use cases, PHT aims to bring practical value to individuals and businesses alike, driving both adoption and utility in real-world scenarios. # Multi-Collateral System PHT utilizes an over-collateralization model inspired by DAI, a proven and stable mechanism that has demonstrated resilience, particularly during market turbulence. {% hint style="info" %} Certain features of the multi-collateral system, such as the Liquidation Mechanism outlined on this page, **has not yet been activated** and will only be implemented upon the official launch of the Full Version 1 System, as specified in the [Technical Roadmap](/technical-roadmap). {% endhint %} ### Over-Collateralization Due to the over-collateralization design, when minting PHT, users are required to provide collateral that exceeds the value necessary to cover potential losses in the event of default. They must also maintain a healthy collateral-to-debt ratio above the liquidation threshold to avoid liquidation. This mechanism ensures the system's stability and helps minimize risk. ### Mixed Collateral Composition Initially, the accepted collaterals will be focused on stablecoins (USDC, USDT) to ensure minimal volatility exposure. In the next phase, APACX plans to expand the asset pool to include a broader range of assets, such as major crypto assets (e.g. Bitcoin, Ethereum), fiat currencies (e.g. Philippine Peso) and RWAs (e.g. bonds like U.S. Treasury Bills and Money Market Funds). ### Collateral Risk Parameters Each collateral type used in the APACX Protocol has specific risk parameters, which are fine-tuned based on multiple factors. These parameters help determine how each collateral behaves under different market conditions and its capacity to maintain the stability of PHT. #### Factors * **Historical Volatility:** The fluctuations in the price of the asset type of collateral over time. * **Market Liquidity:** How easily the collateral can be bought or sold in the market. * **Price Correlation with PHP:** The relationship between the collateral’s price and the value of PHP. * **Black Swan Stress Testing:** Simulated extreme events that test the collateral's resilience under rare and unpredictable market conditions. ### Liquidation Workflow When a vault’s collateral-to-debt ratio falls below the minimum threshold, the liquidation process is triggered to cover the outstanding obligations and maintain system stability. 1. Liquidation Trigger * Condition: A vault’s collateral-to-debt ratio falls below the Liquidation Ratio, signaling undercollateralization. * Action: The Keeper calls to identify the undercollateralized position and initiate liquidation. 2. Collateral Auction Initiation * Mechanism: The APACX Protocol’s Collateral Auction system is activated to liquidate the collateral and cover the vault's obligations, including the Liquidation Penalty (e.g., 13%). 3. Auction Phases * Phase 1 - Increasing PHT Bids: Bidders place increasing PHT bids for the set amount of collateral, ensuring enough PHT is raised to cover both the vault’s debt and the liquidation penalty. * Phase 2 - Reverse Auction: Once the required PHT amount is reached, the auction transitions to a Reverse Collateral Auction. Bidders now compete by offering decreasing collateral amounts for a fixed PHT price. 4. Collateral Seizure & Settlement * Winning Bidders: The collateral is awarded to the highest bidder, with proceeds used to cover the vault’s outstanding debt and penalties. Any surplus proceeds are used as follows: * If the collateral auction exceeds the obligations, the excess funds are added to the APACX Protocol’s reserves. 5. Debt Handling (Shortfall Coverage) * If the auction does not raise sufficient PHT: The remaining deficit is covered by the protocol’s reserves. If the reserves are insufficient, a Debt Auction is triggered, where new governance tokens will be minted and sold to cover the shortfall. * It is important to note that while the governance token is not yet live, the stability fee is not yet turned on. This means that a deficit scenario can never happen in the first place. * Collateral positions are also only opened by the team and known liquidity providers to avoid imbalances in the system until the governance token and stability mechanism are fully activated. 6. Surplus Management * Excess Proceeds: If PHT proceeds from the auction exceed the debt obligations, these funds are added to the reserves. * Surplus Auction: Excess reserves lead to Surplus Auctions, where bidders compete for fixed PHT amounts by offering governance tokens. The governance tokens obtained in this process are burned, reducing supply and helping stabilize the system. * It is important to note that while the governance token is not yet live, the stability fee is not yet turned on. This means that a surplus scenario can never happen in the first place. * Collateral positions are also only opened by the team and known liquidity providers to avoid imbalances in the system. # Stability and Yield The APACX Protocol uses a Stability Fee mechanism to maintain the PHT peg to PHP while ensuring system reserves remain robust. {% hint style="info" %} The Stability and Yield Mechanism outlined on this page, **have not yet been activated** and will only be implemented upon the official launch of the Full Version 1 System, as specified in the [Technical Roadmap](/technical-roadmap). {% endhint %} ### Stability Fee * The **Stability Fee** is an annual percentage yield applied to the PHT generated from a vault, similar to the interest paid for collateralizing digital assets and borrowing PHT. * Paid in **PHT**, the Stability Fee contributes to the APACX Protocol's reserves, ensuring that the protocol has sufficient resources to maintain the peg. ### PHP Peg Maintenance To maintain the peg of PHT to PHP, the APACX Protocol employs dynamic stability fee adjustments based on market conditions. The protocol uses a Proportional-Integral-Derivative (PID) controller model, which fine-tunes the stability fees during various market cycles. **Key Stability Adjustments:** * **Market Demand for PHT:** Stability fees are adjusted based on changes in demand for PHT. * **PHP-USD Exchange Rate Volatility:** Fluctuations in the exchange rate between PHP and USD prompt adjustments in the stability fee. * **Collateral Risk:** Risk factors associated with the asset type of collaterals backing PHT are also considered. ### Protocol Surplus Buffer * Stability fees collected over time are stored in a risk reserve or surplus buffer. * This reserve ensures system stability by providing a cushion in case of market stress or volatility. * Surplus funds are gradually distributed to maintain the protocol's balance. ### PHT Yield Rate **(PYR)** The **PHT Yield Rate (PYR)** allows PHT holders to earn yield by locking their PHT in a designated contract. This mechanism serves two purposes: providing an incentive for holding PHT long-term and helping maintain the peg to PHP. **PYR and Stability Mechanisms:** * **Above Peg:** If PHT trades above the 1:1 peg (greater than 1 PHP), the protocol may lower the PYR or increase stability fees to reduce demand and bring the price back to the peg. * **Below Peg:** If PHT trades below the peg (less than 1 PHP), the protocol may increase the PYR or decrease stability fees to encourage demand and restore the peg. # Risk Management APACX Protocol is designed to be robust and secure, yet like any innovative system, it faces inherent risks. We proactively address these risks through multiple layers of safeguards and mornitoring. ### Smart Contract Risks Smart contracts are a fundamental component of APACX, but they may carry potential risks due to vulnerabilities in the underlying code. These risks could lead to unintended consequences, such as fund loss or system malfunctions, which may compromise the stability and integrity of the protocol. The dynamic and immutable nature of smart contracts increases the potential impact of any code flaws or exploits. #### Mitigation * **Regular Audits:** PHT and related smart contracts have undergone initial audits by leading blockchain security firms like SlowMist. Going forward, the protocol will conduct regular audits to ensure continued safety and functionality. These audits help detect and resolve vulnerabilities early, minimizing the risk of exploits. * **Bug Bounty Program:** APACX will incentivize community involvement through a bug bounty program, encouraging independent security researchers to identify and report potential vulnerabilities. This crowdsourced approach provides an additional layer of protection. * **Real-Time Monitoring System:** In addition, a real-time monitoring system will be introduced to continuously track smart contract performance and detect anomalies as they arise. Automated alerts will notify the team of any irregular activities or code deviations, triggering an immediate investigation and, if necessary, an emergency protocol response. ### Market & Black Swan Risks APACX is exposed to potential risks from sudden market shocks, such as dramatic price crashes of collateral assets or broader financial instability. Such events, often referred to as "black swan" events, are unpredictable but can have severe effects on the protocol’s stability and collateralization. These risks arise from the inherent volatility in markets and the possibility of extreme, unforeseen scenarios. #### Mitigation * **Overcollateralization:** APACX will maintain high overcollateralization ratios to ensure there is always sufficient collateral backing the system, even during significant market downturns. This reduces the risk of a shortfall in case of extreme price fluctuations. * **Automatic Liquidation Mechanisms:** In the event that a vault’s collateral falls below the required threshold, automatic liquidation mechanisms will activate to safeguard the protocol against undercollateralized positions. This helps maintain system stability during volatile market conditions. * **Emergency Shutdown Procedures:** In extreme circumstances, such as a severe market crash or system instability, the protocol can activate emergency shutdown procedures to halt operations temporarily. This emergency response ensures that the protocol can pause trading and liquidation processes, preventing further destabilization while a resolution is being developed. ### Regulatory & Compliance Risks The evolving regulatory landscape for blockchain and cryptocurrency presents potential risks to APACX's operation. Changes in laws or the introduction of new regulations could affect the protocol's accessibility, legality, or operational capacity in various jurisdictions. The unpredictability of regulatory developments poses a challenge to maintaining compliance and could impact the protocol's growth and adoption in regulated markets. #### Mitigation * **Collaborations with Licensed Partners:** To mitigate regulatory risks, APACX works closely with licensed partners, including entities like MoneyBees, a certified Virtual Asset Service Provider (VASP) with MSB registration from the BSP (Bangko Sentral ng Pilipinas) and AMLC (Anti Money Laundering Council). This collaboration ensures compliance with local regulations and helps facilitate the onboarding of users in a compliant manner. * **AML (Anti–Money Laundering) Integration:** APACX has implemented KYB (Know Your Business) procedures and partnered with Lukka for KYT (Know Your Transaction) to monitor and verify the legitimacy of transactions, ensuring suspicious activities are promptly flagged and investigated. In addition to these measures, APACX plans to introduce more advanced AML integrations in the future to further enhance security and compliance, ensuring APACX operates in line with global anti-money laundering standards. # Product Roadmap
## Q1 2025 ### **Official Launch on Ethereum and Tron** PHT goes live on both the Ethereum and Tron blockchain networks, establishing a multi-chain presence from day one. This launch includes cross-chain bridge support via LayerZero’s Omnichain Fungible Token (OFT) standard allowing users to move PHT seamlessly between supported networks. ### **Regulated Minting & Redemption Channels** Integration with strategic partners creates secure, compliant channels for minting and redeeming PHT. These partnerships ensure all on/off-ramp processes adhere to financial regulations, so users can exchange PHT safely and legally. ### **On-Chain Minting with Stablecoins & Peso** On-chain minting of PHT is enabled using popular stablecoins like USDT and USDC, as well as Philippine peso-pegged currencies. This gives users flexibility to mint new PHT tokens by using either major USD-backed stablecoins or local currency equivalents. ## Q2 2025 ### **PHT Debit Card Launch** A crypto-enabled debit card supporting PHT transactions is introduced, compatible with Visa and MasterCard networks. This allows users to spend their PHT for everyday purchases, effectively bridging the gap between crypto assets and traditional payment systems. ### **Yield-Bearing PHT Products** New financial products are launched that let PHT holders earn interest on their tokens. For example, partnering platforms like *UU Wallet* offer yield-bearing accounts for PHT, giving users an opportunity to gain passive interest income on their holdings. ### **Digital Entertainment Integration** PHT is deeply integrated into popular digital entertainment platforms for seamless deposits and withdrawals. Users can use PHT directly within supported games, streaming services, or online content platforms, making it easier to transact and participate in these ecosystems using the token. ### **Remittance Incentive Program for OFWs** The first remittance incentive program for Overseas Filipino Workers (OFWs) kicks off. This program offers special benefits (such as reduced fees or bonuses) to OFWs who use PHT for sending money home, encouraging adoption of PHT in cross-border remittances. ## Q3 2025 ### **Centralized Exchange Listing** PHT secures a listing on a major centralized exchange (CEX) to enhance liquidity and accessibility. This makes it easier for retail users to buy, sell, and trade PHT on a widely-used exchange platform, greatly expanding the token’s market reach. ## Q4 2025 ### **APCX Protocol Token Launch** The project introduces its protocol token, APCX, during this quarter. Details about APCX’s utility and tokenomics are to be announced, outlining how it will function within the ecosystem. The launch of APCX is aimed at complementing PHT’s role, potentially providing governance features, staking rewards, or other protocol-level utilities (to be detailed in official announcements). # Technical Roadmap
### Q4 2024: Alpha Testing {% hint style="info" %} For more details on how the PHT system forked MakerDAO's Multi Collateral DAI, please see see the audit section:\ [Smart Contract Audits](/technical-references/smart-contract-audits) {% endhint %} The alpha testing stage includes the following activities; 1. Initial fork and deployment of MakerDAO's Multi Collateral DAI 2. In-house UI development 3. Initial QA, testing and liquidity provision by team 4. First audit by SlowMist ### Q1-Q2 2025: Beta Testing {% hint style="info" %} Initial beta testing rollout implements custodial collateral types based on MakerDAO's RWA vaults. This ensures that collateral is 100% safe from on chain security incidents, while the PHT system is in its' early stages. {% endhint %} {% hint style="info" %} During this stage, custodial collateral types are transparently listed in wallets, so that all users, LPs or PHT holders may verify the collateral backing PHT. \ \ See [Transparency](/transparency) page for more information. {% endhint %} The beta testing stage includes the following activities; 1. PHT Minting and Redemption 2. Custodial Collateral Types 3. LayerZero integration for PHT cross chain bridging
Collateral TypeDescriptionRationale
apcxUSDT`apcxUSDT` represening custodial collateral reflects USDT backing of PHT in reservesInitial beta testing rollout implements off chain collateral types forked from MakerDAO's RWA vaults. This ensures that collateral is 100% safe from on chain security incidents, while the PHT system is in its' early stages.
apcXUSDT`apcxUSDC` represening custodial collateral reflects USDT backing of PHT in reservesInitial beta testing rollout implements off chain collateral types forked from MakerDAO's RWA vaults. This ensures that collateral is 100% safe from on chain security incidents, while the PHT system is in its' early stages.
### Q2-Q3 2025: Preparation and Full Version 1 System Launch {% hint style="info" %} Version 1 System Launch entails all aspects of the PHT Multi Collateral System are live, including the permissionless stability mechanism and full on chain collateral with USDC and USDT. {% endhint %} This stage includes the following activities; 1. Fully permissionless USDC and USDT collateral types 2. Solidified operational security 1. Established security council 2. multiple audits 3. Multiple collateral custodians for any custodial reserves 3. Fully active stability mechanism to keep PHT price peg even if more volatile collateral types are used # Transparency {% hint style="info" %} This page lists custodial collateral types and the corresponding wallets that hold the collateral during the [Technical Roadmap](/technical-roadmap#q1-q2-2025-beta-testing) rollout stage. {% endhint %} | Collateral Type | Wallet Address | | --------------- | ---------------------------------- | | apcxUSDT | TCRjE31cgksHetFLQd6JENAfBfXhHjMEFU | | apcxUSDC | to be announced soon | {% hint style="info" %} We provide the option of a Satoshi test for collateral verification. This process serves as a reliable method to confirm the authenticity of APACX's reserve, ensuring greater transparency and trust. For more details on the verification procedure, please feel free to contact us. {% endhint %} # FAQs | Question | Answer | | -------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Why use custodial collateral and not just accept USDC or USDT as collateral from users right away? |

Initial beta testing rollout implements custodial collateral types based on MakerDAO's RWA vaults. This ensures that collateral is 100% safe from on chain security incidents, while the PHT system is in its' early stages.

Even if the PHT system is a fork of MakerDAO's battle tested Multi Collateral DAI system, operational security is still a major concern when building on-chain collateral systems. The PHT team intends to rollout the forked system in stages and have auditors double check every stage before launching.

| | How can I mint PHT using apcxUSDC or apcxUSDT if I have USDC or USDT? |

During /pages/DJQb6yjre1KPpbPvMCjp#q1-q2-2025-beta-testing rollout stage, please contact the team to acquire apcxUSDC or apcxUSDT.

During this stage, the team may also automate the conversion of USDC -> apcxUSDC and USDT -> apcxUSDT through the web app.

| # Why Choose PHT PHT bridges traditional finance and digital innovation by enabling seamless, real-time payments and effortless yield generation. ### Yield & Earning #### 1. Earning Yield through the PYR System **Overview** The PYR system offers attractive yield opportunities for PHT holders. By staking or locking up tokens within the PYR ecosystem, users can earn regular yield payouts, rewarding long-term holding and contributing to the network’s growth. **Key Benefits** * **Attractive APY:** Benefit from competitive yield rates designed to reward loyalty. * **Compounding Returns:** Option to reinvest earnings to maximize returns over time. * **Ecosystem Growth:** Support the stability and growth of the network through active participation. #### 2. Earning LP Rewards on On-Chain Decentralized Exchanges **Overview** Liquidity provision on decentralized exchanges (DEXs) is another pathway to earn yield with PHT. By supplying liquidity to DEX pools, users receive LP tokens and additional rewards, creating a passive income stream while enhancing market liquidity. **Key Benefits** * **Passive Income:** Earn rewards simply by providing liquidity to active markets. * **Enhanced Market Liquidity:** Contribute to improved trading experiences and price stability. * **Dual Incentives:** Earn transaction fee rewards along with bonus tokens as incentives for liquidity provision. ### Payment & Cross-Broder Remittances \ The Philippines is one of the world's largest recipients of remittances, a rapidly growing digital economy, and a key market for decentralized finance adoption. However, high transaction fees, slow banking processes, limited financial access, and cash dependency continue to create inefficiencies for Filipinos. PHT is designed to solve these challenges by providing an inclusive, stable, fast, and cost-effective financial tool tailored to the needs of the underbanked population in the Philippines. #### Overview PHT’s integration with debit cards, backed by the VISA network, enables users to spend their tokens in everyday transactions. This connection bridges the gap between crypto and fiat economies, allowing users to enjoy the benefits of digital assets while accessing traditional payment methods. #### Key Benefits * **Global Acceptance:** Leverage VISA/MasterCard’s extensive network to spend PHT at millions of locations worldwide. * **Real-Time Conversion:** Enjoy seamless transactions with automatic conversion from PHT to local currencies through our wallet partner – UU Wallet. * **Eliminate the Need for Cash Conversion:** Spend directly without converting PHT to peso cash for day-to-day expenses. * **Enhanced Security:** Benefit from robust security measures that protect every transaction; all transactions are subjected to strict KYT. * **User Convenience:** Eliminate the need for separate wallet-to-bank transfers, streamlining everyday spending. #### Targeted Use Cases * **For Overseas Filipino Workers (OFWs):**\ OFWs can enjoy quick, secure, and low-cost remittances, enabling them to spend or transfer funds without the extra steps of converting to local cash. * **For Small and Medium-sized Businesses (SMEs):**\ SMEs benefit from efficient cross-border transactions and simplified payments, reducing the overhead of managing multiple currencies and cash handling. * **For the Gig Economy (Freelancers and Digital Nomads):**\ Freelancers and digital nomads can use PHT debit cards to receive and spend earnings globally, bypassing traditional banking hurdles and costly conversion fees. ### On-Ramp & Off-Ramp Solutions PHT is expanding its ecosystem by partnering with a BSP licensed service provider to offer physical on-/off-ramping shops across the Philippines. These onramp and offramp solutions enable users to easily convert fiat currency into PHT and vice versa, creating a seamless bridge between digital and physical assets. By establishing physical locations, PHT not only improves accessibility for everyday users—especially those who prefer face-to-face transactions—but also builds trust through regulatory compliance. This initiative empowers individuals and businesses to transition between traditional cash systems and digital currencies with confidence, ultimately fostering wider adoption of PHT in both local and international markets. # Mint, Redeem & Bridge PHT
The **APACX Web App** lets you easily mint, redeem, and bridge PHT. 🔗 **Official Website:** [apacx.io](https://apacx.io)
### **Getting Started** 1. **Open the Web App** * Click the **"Get Started"** button at the top right. * You’ll be taken to the **Portfolio** page
2. **Connect Your Wallet** * Click **"Connect"** and choose your wallet. * Make sure you've installed the browser extension for your wallet.
### **Minting PHT** Once your wallet is connected, you can start minting PHT. 1. Go to the **Mint** page to begin.
2. Enter the amount of PHT you want to mint. The **minimum** requirement is **500** PHT. 3. Select the **collateral** you want to use for minting PHT.

We are currently in the beta testing phase. All existing PHT are minted using apcxUSDT as collateral, which is backed 1:1 by the USDT balance in the reserve address. For further details, please refer to the Transparency section.

The option to mint PHT using USDT, as shown in the images, is for instructional purpose only and is not yet available.

Support for minting PHT with USDT, USDC, and other collaterals will be introduced in a later phase, in accordance with our technical roadmap.

4. Click **"MINT"** and follow the steps below: **Note:** If this is your first time using the APACX protocol, you’ll need to **create a proxy** first. Simply click "create proxy" and approve the request in your wallet.
### **Minting Steps** 1. **Approve Collateral Spend**.
2. After approval, you can proceed with minting PHT.
3. Once the process is complete, you can check your position status on the **Portfolio** page.
### **Redeeming PHT** To repay your PHT debt, follow these simple steps: 1. Go to the **Redeem** page.
2. Choose how much PHT you want to repay. We offer easy options for **25%, 50%, 75%, or 100%** of your debt.
3. Click **“Redeem”** and confirm the transaction in your wallet.
4. Once completed, your debt will be paid off, and **your collateral** will be transferred back to your wallet.
### Bridging PHT To bridge your PHT to another blockchain, follow these simple steps: 1. Go to the **Bridge** page. {% hint style="info" %} In this instructional example, we demonstrate bridging from Ethereum to Tron. The process for bridging from Tron to Ethereum is the same, with the only difference being that TRX is used as gas.\ \ PHT will soon support additional chains, enabling seamless cross-chain transfers across multiple networks. {% endhint %}
2. Select the **source blockchain** where your PHT is currently held and enter the amount of PHT you want to bridge
3. Select the **destination blockchain** to which you want to bridge your PHT. {% hint style="info" %} By default, the destination address is derived from your connected wallet’s seed phrase. \ \ **If you wish to send PHT to a specific wallet address, manually enter it.** {% endhint %}
4. **Approve PHT Spend**.
5. After approval, click "**Send**" to proceed.
6. Once the bridging process is complete, you can review your bridging details. {% hint style="info" %} We are using LayerZero’s Omnichain Fungible Token (OFT) as our bridge solution. For more details, please refer to [LayerZero’s Docs](https://docs.layerzero.network/v2).\ \ The bridging process may take some time to complete, and transaction history updates could be delayed as we retrieve data from LayerZero’s API. You can also view the transactions on [LayerZero Scan](https://layerzeroscan.com/). {% endhint %}
# PHT Onramp & Offramp
For those who are not familiar with blockchain or prefer to buy PHT by traditional means, we offer an off-chain purchasing flow as follows: ### **1. Create a MoneyBees Account** To begin with, you will need to create an account on Money Bee by simply providing basic information and completing the verification process. Once your account is created, you can deposit fiat currency (such as **PHP, USD**, **EUR**, etc.) to purchase PHT tokens. Bank transfer, credit card or cash deposit are all acceptable. Money Bee will transfer the corresponding amount of PHT tokens to your designated wallet address upon receiving the fiat deposit. PHT can be converted back into fiat currency by the redeeming process any time. Pay the PHT tokens to OTC shops (i.e. Money Bee) and get fiat money in cash, bank accounts or e-wallets. MoneyBees: ### **2. Deposit Fiat Currency and Purchase PHT Tokens** Once your account is created, you can deposit fiat currency (PHP) to purchase PHT tokens. Money Bee will transfer the corresponding amount of PHT tokens to your designated wallet address upon receiving the fiat deposit. ### **3. Use PHT for Payments, Remittances, or Savings** PHT can be used for a variety of purposes in real economy, for example, to make online payments, to settle cross-border remittances, or as savings. The flexibility of PHT makes it an ideal digital currency for daily transactions as well as digital asset allocation. ### **4. Redeem PHT for Fiat Currency Anytime** PHT can be converted back into fiat currency by the redeeming process any time. Pay the PHT tokens to OTC shops (i.e. MoneyBees) and get fiat money.
# FAQs ### How does PHT maintain its PHP peg? PHT maintains its PHP peg through a combination of overcollateralization, dynamic stability fees, and liquidation mechanisms that work together to ensure the peg remains stable. ### What happens during liquidation? When the collateral falls below a required threshold, the protocol triggers liquidation. Collateral is then auctioned through a Dutch auction mechanism to repay the outstanding debt along with any applicable penalties. ### How secure is the protocol? Security is a top priority. PHT incorporates multiple layers of protection including formal verification, regular security audits by reputable firms, and time-delayed oracles to safeguard against market manipulation and vulnerabilities. ### What are the costs of minting PHT directly? Users may incur network transaction fees, stability fees on borrowed PHT, and potential liquidation penalties if the collateralization ratio falls below the required level. ### What types of collateral are accepted? The protocol supports a range of digital assets as collateral. Accepted collateral includes established cryptocurrencies, stablecoins (USDT and USDC), and select tokenized assets that meet our quality and liquidity criteria. ### How does the dynamic stability fee work? The dynamic stability fee adjusts based on real-time market conditions and the overall health of the protocol. This mechanism incentivizes maintaining proper collateral ratios and helps ensure that the PHP peg remains stable. ### What happens if my collateral value drops below the required threshold? If your collateral value drops below the required ratio, the protocol will initiate a liquidation process to safeguard the system’s stability. This involves auctioning off collateral via a Dutch auction to cover the debt and any incurred penalties. ### Can I retrieve my collateral after repaying my debt? Yes, once you have repaid your outstanding debt—including any applicable stability fees and penalties—you can withdraw your collateral from the system. ### How frequently are the protocol’s smart contracts audited? To maintain a high level of security, the protocol undergoes regular audits by independent, reputable security firms. Additionally, formal verification is employed to ensure the integrity of the smart contracts. ### What is the role of time-delayed oracles in the protocol? Time-delayed oracles provide price feeds with a built-in delay to help mitigate the risk of rapid price manipulation. This delay ensures that the protocol receives more stable and reliable market data for making informed decisions. ### Are there any risks associated with using the protocol? While every effort is made to secure the protocol, users should be aware that all digital asset protocols carry inherent risks, such as market volatility and smart contract vulnerabilities. It is important to understand these risks and manage collateral accordingly. ### How do network transaction fees affect my transactions? Network transaction fees are determined by the underlying blockchain network and can vary depending on network congestion. These fees are a standard part of blockchain transactions and are separate from any fees charged by the protocol. # System Architecture ### Core Contract Modules The APACX Protocol implements a modular architecture with specialized contracts:
ContractFunctionTechnical Notes
VatCore ledger tracking collateral and debt positionsMaintains a global accounting system with all vault positions
SpotCalculates collateral valuationsApplies collateral factors to oracle prices
JugStability fee accrual mechanismUses compound interest formula to accumulate fees continuously
DogCoordinates liquidation processReplaces the older Cat contract with improved efficiency
ClipDutch auction for liquidated collateralReplaces the older Flip auction with fixed price decreases
FlapSurplus auction distributing excess system valueActivated when system builds significant surplus
FlopDebt auction to recapitalize the systemActivated during shortfalls to restore system solvency
EndCoordinates emergency shutdownEnsures fair distribution of remaining collateral
These contracts interact through a carefully designed permission system that ensures security while enabling modular upgrades. ### Collateral Types The protocol accepts various assets as collateral, each with risk parameters calibrated to its specific characteristics: * Major Stablecoins: USDC, USDT with dynamic Liquidation Ratio, Debt Ceiling, and Stability Fee parameters. * PHP-Pegged Stablecoins: Native tokens maintaining a 1:1 PHP peg through algorithmic or backed mechanisms. * Regulated Assets: Government-issued debt or regulated financial instruments, subjected to enhanced due diligence and verification. Each collateral type is managed in a separate ilk (collateral class) with independent risk parameters. ### Keeper Network The decentralized keeper network ensures protocol automation: * **Price Feed Updates**: Keepers monitor and submit Chainlink oracle updates to the Pip contract. * **Liquidation Processing**: Identifies unhealthy vaults and triggers `Dog` to initiate liquidation. * **Auction Participation**: Bids in collateral auctions to ensure efficient collateral liquidation. * **System Maintenance**: Performs routine operations like debt ceiling adjustments. Keepers are economically incentivized through auction participation fees and system rewards. The network operates without central coordination, increasing system resilience. The APACX Platform runs its own Keepers to ensure the safety and stability of the platform, especially after the initial deployment when other Keepers will not exist on the chain. ### External Integrations | Integration | Purpose | Technical Specifications | | ----------------- | ----------------------------- | ------------------------------------------------------------ | | Chainlink Oracles | Price feed aggregation | Maximum heartbeat of 24 hours with deviation threshold of 1% | | Ethereum Mainnet | Primary execution environment | EVM-compatible, gas optimization for complex operations | | Tron Network | PHT Bridged environment | Lower fee structure, cross-chain interoperability | # Contract Addresses This document contains links to Etherscan for deployed smart contracts on Ethereum mainnet. ### Core Protocol Contracts * **Authority**: [0xe75220cB014Dfb2D354bb59be26d7458bB8d0706](https://etherscan.io/address/0xe75220cB014Dfb2D354bb59be26d7458bB8d0706) * **Cat**: [0x3530e648f87941A68fbB861Cf77d7E664f5af7A0](https://etherscan.io/address/0x3530e648f87941A68fbB861Cf77d7E664f5af7A0) * **CLOG**: [0x96AcD93950aa5425C280c7c4C37D78f36fB9b6e4](https://etherscan.io/address/0x96AcD93950aa5425C280c7c4C37D78f36fB9b6e4) * **Collateral Helper**: [0xD39cf17fCf9Fd2e2DcCe24Fc06d61d496F1a9421](https://etherscan.io/address/0xD39cf17fCf9Fd2e2DcCe24Fc06d61d496F1a9421) * **Cure**: [0xe2f5C8b6fb7e445694906a7124FC119d45A5B05A](https://etherscan.io/address/0xe2f5C8b6fb7e445694906a7124FC119d45A5B05A) ### Token and Join Adapters * **PHT**: [0xBe370Ad45D44eB45174C4Ec60b88839feF32C077](https://etherscan.io/address/0xBe370Ad45D44eB45174C4Ec60b88839feF32C077) * **PHT Join**: [0x4bd328FD071b03e157d0a89dE199d9E005D71057](https://etherscan.io/address/0x4bd328FD071b03e157d0a89dE199d9E005D71057) ### Liquidation and Auction Contracts * **Dog**: [0xb091E867d61C0556a230Ac97C6900E54Ab4fc3c8](https://etherscan.io/address/0xb091E867d61C0556a230Ac97C6900E54Ab4fc3c8) * **Flap**: [0xF30Ed1927C19daE51E978d1fBfB312b60567645B](https://etherscan.io/address/0xF30Ed1927C19daE51E978d1fBfB312b60567645B) * **Flop**: [0x95956061338fC0109286a0E7d867ce9DD055D813](https://etherscan.io/address/0x95956061338fC0109286a0E7d867ce9DD055D813) ### CDP Management * **DSR Manager**: [0x35F6b9a588A26FA090961c2A191093D2C4e57082](https://etherscan.io/address/0x35F6b9a588A26FA090961c2A191093D2C4e57082) * **DSS CDP Manager**: [0x1f0d21D9FA57384A42f9eBafb2D95A8C5076b90F](https://etherscan.io/address/0x1f0d21D9FA57384A42f9eBafb2D95A8C5076b90F) ### Proxy Contracts * **DSS Proxy Actions**: [0xE078D0DA8C353c4Cf566b7100B1e2321Bc362991](https://etherscan.io/address/0xE078D0DA8C353c4Cf566b7100B1e2321Bc362991) * **DSS Proxy Actions DSR**: [0x2550106A9B5EafA3C5240562A3CCEEB774D5306A](https://etherscan.io/address/0x2550106A9B5EafA3C5240562A3CCEEB774D5306A) * **DSS Proxy Actions End**: [0xF43b7D84D195BEF818c4FEeA551B49949EC509f9](https://etherscan.io/address/0xF43b7D84D195BEF818c4FEeA551B49949EC509f9) * **DSS Proxy Registry**: [0x74275201f44658d990cF1D580d3C7E486710c942](https://etherscan.io/address/0x74275201f44658d990cF1D580d3C7E486710c942) * **Proxy Actions**: [0x8Fc0503b224C337DE589a8Df56e725D8609b03fD](https://etherscan.io/address/0x8Fc0503b224C337DE589a8Df56e725D8609b03fD) ### System Management * **End**: [0x98B0F1cF5F1cf9B4779a80837125c23C19d6BB76](https://etherscan.io/address/0x98B0F1cF5F1cf9B4779a80837125c23C19d6BB76) * **ESM**: [0x53f20bc584454C24CeC635b9329A7A86b8e5A13c](https://etherscan.io/address/0x53f20bc584454C24CeC635b9329A7A86b8e5A13c) * **VAT**: [0xEE0CDe42Bb6841736d809d2Bb63EbF59dB6E336c](https://etherscan.io/address/0xEE0CDe42Bb6841736d809d2Bb63EbF59dB6E336c) * **VOW**: [0x62206318C99f03A93e091FedD39f324069834498](https://etherscan.io/address/0x62206318C99f03A93e091FedD39f324069834498) ### Price Feeds and Oracles * **Feed PHP/USD**: [0x6829AAaFa90739946C62a13eE4A9c5d99baC7aF8](https://etherscan.io/address/0x6829AAaFa90739946C62a13eE4A9c5d99baC7aF8) * **Price Feed Factory**: [0x3500dd8659C80035895B55f03Ec5c3e5B1A6B238](https://etherscan.io/address/0x3500dd8659C80035895B55f03Ec5c3e5B1A6B238) * **Price Join Feed Factory**: [0xcC7C3F18E80813f1b59DcB3ceDc2C610dc0d4A1d](https://etherscan.io/address/0xcC7C3F18E80813f1b59DcB3ceDc2C610dc0d4A1d) * **Spotter**: [0x7232b57064c5981a4C4ae6ECEDdb79e7f412c47c](https://etherscan.io/address/0x7232b57064c5981a4C4ae6ECEDdb79e7f412c47c) ### Helpers and Utilities * **ILK Registry**: [0xC2BD6a0985A66885ef187B9A6c91be34E89C6be9](https://etherscan.io/address/0xC2BD6a0985A66885ef187B9A6c91be34E89C6be9) * **Jug**: [0x1F57614552896DcbF242562B9D91B20D9E8140cE](https://etherscan.io/address/0x1F57614552896DcbF242562B9D91B20D9E8140cE) * **Pot**: [0x31066F17C988b99F5b72A903c6DAC1603ECDB6A5](https://etherscan.io/address/0x31066F17C988b99F5b72A903c6DAC1603ECDB6A5) * **Fiat Token Factory**: [0x8E1460Bd6cAeCEa9b5aa1Fe4f5F19bAeA171A33b](https://etherscan.io/address/0x8E1460Bd6cAeCEa9b5aa1Fe4f5F19bAeA171A33b) * **PHT Token Helper**: [0x43Dc0ab59eAeBB3EAe61A80900c611a824adEACe](https://etherscan.io/address/0x43Dc0ab59eAeBB3EAe61A80900c611a824adEACe) # Contract ABI Attached are all ABIs for deployed contracts in the PHT system:
{% file src="/files/oPMI2q4XPOPq43QrCl8h" %} # Smart Contract Audits {% hint style="info" %} The PHT system is a direct fork from MakerDAO's Multi Collateral DAI. See the original MakerDAO audits here {% endhint %} After forking, the PHT team deployed and configured the system according to our own business and technical requirements. SlowMist audited the final configuration. Please see audit reports here: [PHT Stablecoin - SlowMist Audit Report](https://docsend.com/view/nh7ink5e6d8xduuw) [PHT Stablecoin - SlowMist Deployment Script Audit Report](https://docsend.com/view/bgg5kqc6n2urwv43) # Terms and Conditions These APACX's Peso-Pegged Stablecoin Philippines Token (PHT) Terms and Conditions (these “PHT Terms”) form a legal agreement between APACX LTD. (“Token Issuer,” “we,” “us” or “our”) and you, whether personally or on behalf of an entity (“you” and “your”), as a user of the PHT Services (defined below). These PHT Terms state the terms and conditions that apply to your use of the PHT Services. **PLEASE REFER TO**[ **TERMS & CONDITIONS**](https://docsend.com/view/6bz4qr67n2kaqq7b) **AND READ TERMS CAREFULLY** # Privacy Policies Thank you for choosing the relevant service(s) (the “Services”) and/or product(s) (the “Product”) provided by APACX LTD. (“PHT”) and its affiliates (hereinafter also referred to as “I”, “me”, “my”, “we”, “us” and “our” or the “Company”). By accessing or using our Services/Products, you CONSENT to the policies and practices set out in this privacy policy (the “Privacy Policy”) and represent and warrant that you have the valid consent and authority from the Relevant Person(s) (defined below) for us to collect, use, disclose and/or process your Personal Data as described herein. This Privacy Policy describes how we will collect, use and disclose your personal data when you access or use our Services/Products. You agree that PHT may update this Privacy Policy at any time by posting the amended version on our website and associated application program interface or mobile applications (the “Site”) or sending the latest Privacy Policy to you via email. Your use or continued use of any Services/Products after such amendment shall be deemed as your acceptance and agreement to the same. **PLEASE REFER TO** [**PRIVACY POLICY**](https://docsend.com/view/t4stbinqxcp4efb5) **AND READ TERMS CAREFULLY** # Legal Opinion Thank you for seeking this legal opinion (the “Opinion”) regarding the relevant services (the “Services”) and/or products (the “Products”) provided by APACX LTD. (“PHT”) and its affiliates (hereinafter also referred to as “I”, “me”, “my”, “we”, “us” and “our” or the “Company”). By reviewing this Opinion, you acknowledge and agree that it is provided for informational purposes only and does not constitute legal, financial, or professional advice. This Opinion is based on the applicable laws, regulations, and legal principles as of the date of issuance and is subject to change in accordance with future legal developments. You understand and agree that this Opinion does not create any attorney-client relationship, fiduciary duty, or other professional obligation between you and the Company. You should seek independent legal counsel for any specific legal matters. We reserve the right to amend or supplement this Opinion at any time by issuing a revised version through our official channels. Your continued reliance on this Opinion shall constitute your acknowledgment and acceptance of any updates or modifications. **PLEASE REFER TO LEGAL OPINION BELOW AND READ TERMS CAREFULLY**\ \ [PHT Legal Opinion (28 Feb 2025)](https://docsend.com/view/q5t3fzdeeyemg8gx) [PHT Legal Memo (22 Aug 2025)](https://docsend.com/view/9ihntidj4pm8wvvn)
# APACX APACX is a technology provider led by experienced professionals with a track record of success in Web3, Fintech, e-banking, and digital entertainment. We serve a wide range of clients, including traditional financial institutions, DeFi projects, and companies transitioning from Web2 to Web3, offering tailored go-to-market services. ### Our Vision Build a reliable, efficient, and scalable stablecoin infrastructure that drives successful commercialization and long-term growth. ### Our Mission Build a decentralized financial framework that ensures stability, transparency, and accessibility across APAC. ## Website [www.apacx.io](https://www.apacx.io/)
### Social Media Twitter: \ Linkedin: ### Contact Us For business collaborations, partnership discussions, or consultation requests, Feel free to connect with us via `contact@apacx.org` # Introduction Xafer WaaS is an enterprise-grade Wallet-as-a-Service (WaaS) solution by APACX. Built on a robust MPC security architecture, Xafer is designed for financial platforms, Web3 projects, and SaaS providers—delivering secure, compliant wallet custody and signing infrastructure with minimal development effort. ### What is Xafer WaaS \ Xafer WaaS is a modular wallet service platform that enables businesses to rapidly create and manage multi-chain wallets for their users, with customizable access controls, risk rules, and audit features. It supports both custodial and semi-custodial modes across major blockchains, allowing teams to focus on product growth without worrying about wallet infrastructure. ### What problems Xafer WaaS solve? \ In traditional wallet systems—especially those self-built by enterprises—teams often struggle with key management risks, permission control, compliance complexity, and technical overhead. For many Web3 applications, building a secure and scalable wallet infrastructure becomes a major blocker to launching or expanding business. Xafer WaaS solves these challenges head-on. Our MPC architecture eliminates single points of failure and prevents key exposure, while our flexible permission and approval systems support enterprise-level control and auditability. Xafer’s plug-and-play integration model further helps teams launch faster and stay focused on core product innovation—not backend infrastructure. Whether you’re building a game, fintech platform, SaaS product, or operating across regulated markets, Xafer helps reduce your security burden, accelerate your go-to-market, and stay compliant with ease.
# Core Capabilities ### Wallet Management Xafer provides unified wallet management across multiple types, including hosted wallets and enterprise-grade MPC wallets. It enables organizations to create and manage multiple accounts with hierarchical structures, such as by product line, department, or use case. This helps clarify asset ownership, separate operational wallets from user funds, and streamline asset operations at scale. ### Multi-chain Compatibility Xafer currently supports Ethereum and Tron, enabling enterprises to manage assets across these chains through a single, unified interface—eliminating the complexity of maintaining multiple wallet systems. Support for additional Layer 2 networks and non-EVM chains is on the roadmap, further enhancing cross-chain operability for global use cases. ### MPC Signing Infrastructure \ Xafer utilizes a Multi-Party Computation (MPC) signing infrastructure that splits the private key into multiple shards, never fully generating or storing it in any one location. This eliminates key exposure risks and protects against internal threats or single-point failures. The signing process is seamless for users and supports high-frequency transactions, smart contract calls, and full auditability. ### Enterprise Risk Controls Xafer embeds a flexible risk control engine that lets businesses configure rules per wallet, account, address, or transaction type. Capabilities include blacklist filtering, transaction thresholds, device fingerprinting, and geofencing. With behavioral analytics and webhook callbacks, Xafer enables real-time threat detection and mitigation to safeguard enterprise assets. \
# Security Architecture ### Understanding the MPC Model Xafer leverages a cutting-edge Multi-Party Computation (MPC) model to fundamentally redesign how private keys are managed. Instead of storing a full private key in any single location, the key is mathematically split into multiple "key shares" distributed across isolated nodes. Signing operations are performed collaboratively by multiple parties, without ever reconstructing the private key at any point in time.\ \ This design eliminates single points of failure, insider risk, and external compromise, making it one of the most secure key management solutions available today. ### Key Sharding & Signing Flow Xafer's MPC signing flow includes the following key stages: 1. **Key Generation**: The private key is never generated in full. Instead, shares are generated and stored across nodes using a distributed protocol. 2. **Transaction Initiation**: A user or system submits a request to sign a blockchain transaction. 3. **Collaborative Signing**: Each node independently performs a partial signing operation. These are combined to produce a valid signature. 4. **Broadcasting**: The valid signature is assembled and broadcasted to the target blockchain. 5. **Audit Logging**: Each operation is logged for transparency, accountability, and compliance auditability. This process is seamless and invisible to the client, offering secure key management without introducing complexity to developers or users. ### Multi-Tenancy & Permission Isolation Xafer natively supports an enterprise-grade multi-tenancy architecture, enabling each enterprise client to operate in an isolated wallet environment within a shared infrastructure. Data, key management, and operational logs are strictly segregated at the tenant level, ensuring clear boundaries and uncompromised security. Whether serving financial institutions, Web3 platforms, or wallet service providers, Xafer’s design guarantees tenant-level fault isolation. Even if one tenant experiences a security breach or operational failure, other tenants remain completely unaffected. ### Control Triggers & Callback System Xafer offers a robust control trigger system, enabling enterprises to configure dynamic rules for transaction execution. Scenarios like suspicious addresses, threshold breaches, or out-of-office-hour operations can automatically trigger blocking actions or escalate to additional approvals. Combined with webhook-based callback mechanisms, Xafer enables real-time communication of risk alerts, transaction status updates, and approval requests to enterprise systems. Developers can integrate these events with internal risk engines, workflow systems, or notification tools—creating a seamless, end-to-end control loop between off-chain business logic and on-chain asset movement. This architecture ensures both strong security and customizable control over asset operations.

# Integration & Onboarding ### API Documentation Use Xafer’s API to integrate secure, custodial wallets into your platform — no key management required. > [xaferapi.apacx.io](https://xaferapi.apacx.io/) ### Custodial Integration Model Xafer currently provides a Custodial Integration Model, where clients do not need to manage any private key material. Xafer securely handles the entire lifecycle of key generation, sharding, storage, and signing using a robust MPC-based infrastructure. Clients integrate via simple API calls, enabling them to perform secure wallet operations without running signature nodes or managing cryptographic infrastructure. This model is ideal for Web3 products, SaaS platforms, and startups seeking fast, secure deployments with minimal engineering overhead. **Key highlights:** | Mode Type | Key Ownership | Risk Control | Dev Effort | | --------------------- | --------------------------- | --------------------- | --------------------- | | Custodial Integration | Keys fully managed by Xafer | Risk managed by Xafer | Low (API integration) | ### Third-Party Wallet Integration Xafer can be integrated as a backend security module into existing wallet services, exchanges, or transaction platforms. It’s designed to be UI-agnostic, allowing developers to maintain full control over frontend design and business workflows while outsourcing the cryptographic and risk control layer. Use cases include: * Integrate Xafer's WaaS service into the backend to replace local private key management. * Receive deposit, withdrawal, and risk event notifications from Xafer. This approach significantly enhances backend security and compliance readiness, with minimal changes to the existing architecture. ### Integration Recommendations Whether you're running an enterprise backend (ERP, finance), a SaaS product, or a Web3-native app, Xafer recommends modularizing your wallet layer as a standalone service. This decouples critical asset logic from your core application and improves risk isolation and maintainability. Recommended practices: * Wrap Xafer APIs/SDK into internal service layers for consistent wallet access * Embed approval workflows within finance or compliance systems * Use webhooks to receive real-time alerts on risky operations or transaction events This architecture scales well as business needs evolve, while maintaining a strong security posture. ### Pre-Integration Checklist (Non-Technical) Before proceeding with integration, enterprises should clarify the following: * **Define wallet use case**: Is it for user fund custody, treasury ops, or contract interaction? Different cases may require different flows. * **Identify system touchpoints**: Can your internal systems (e.g. finance, admin backend, risk tools) receive webhook alerts? * **Team alignment**: Are the technical, product, finance, and compliance teams aligned on roles, milestones, and deployment timelines?
# Compliance & Ops ### KYB/AML Policies Xafer follows internationally recognized KYB and AML standards, aligned with partner banks, payment gateways, and exchanges. For enterprise-facing use cases, we support: * Business identity verification (e.g. incorporation docs, directors, registration data) * Configurable risk monitoring for transaction patterns and fund movements We also enable integration with custom AML engines, allowing clients to correlate on-chain activity with off-chain data for advanced risk screening. ### Compliance Support for Ecosystem Partners Xafer extends its compliance infrastructure to partners across the ecosystem. With standardized onboarding and tooling, we offer: * KYB/AML policy templates and process documentation * Embedded risk APIs and webhook callbacks * Response assistance for regulatory events (e.g. emergency freezes, investigations) * Periodic risk reviews and security advisory reports This helps wallets, SaaS providers, and Web3 platforms quickly close compliance gaps and accelerate time to market. ### Data Privacy & Encryption Standards Xafer adheres to global standards like GDPR, ISO/IEC 27001, and NIST to safeguard data confidentiality and integrity. Our privacy practices include: * TLS encryption for all data in transit * AES-256 encryption for stored data with strict access controls * No full key material ever exists—MPC shards are processed only in memory Our infrastructure ensures that sensitive data never leaks, persists, or crosses boundaries unnecessarily. ### Service Level Agreement & Operational Resilience Xafer offers enterprise-grade SLAs and an operations framework to support mission-critical wallet workflows: * 99.9% uptime guarantee with redundant API clusters * Real-time monitoring and 24/7 technical incident response * Auto-scaling for signing services to handle usage spikes * Regularly tested disaster recovery plans with validated RTO/RPO metrics Custom operational alerts (e.g. via Slack, email, webhook) are also supported to ensure seamless business continuity for clients.
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# Use Cases ### Cross-Border Finance Platforms Cross-border finance platforms dealing with multiple currencies and chains often struggle with complex risk control and fragmented wallet permissions. Xafer solves this by: * Enabling unified multi-chain wallet custody with custom approval logic * Integrating with enterprise backends for automated approval and reconciliation * Providing real-time webhooks for operational visibility and alerts Ideal for remittance apps, global payment networks, and multi-jurisdictional finance solutions. ### White-Label Wallet Providers White-label wallet providers must offer secure, compliant, and flexible infrastructure to their enterprise clients. Xafer empowers them with: * Embedded MPC-based custody and permission controls * Multi-tenant architecture under the provider's brand * Compliance-ready features like KYB, AML, and audit logs * Customizable permission templates and policy thresholds This allows wallet providers to stay lean while meeting stringent security and regulatory standards. ### Exchanges & OTC Trading Desks \ Exchanges and OTC desks handle high-value transactions and require airtight internal controls. Xafer provides: * MPC custody for treasury operations with multi-approval workflows * Complete operational logs for regulatory audits * Real-time risk APIs and freeze triggers for emergency response A trusted solution for firms dealing with sensitive assets and institutional-grade volume. ### Enterprise Crypto Payments More businesses are accepting crypto payments, demanding automated wallet logic and reconciliations. Xafer helps by: * Auto-assigning unique wallets per customer or invoice * Enabling webhook-based payment detection and status updates * Syncing on-chain payments with financial accounting systems * Enforcing treasury rules (e.g. daily limits, batch settlement paths) An ideal backend for e-commerce, SaaS, and B2B crypto payment gateways. \ \ \ \
# FAQs ## What crypto and Blockchains does Xafer support? Xafer currently supports the following blockchains and tokens, with ongoing expansion based on enterprise demand and ecosystem relevance. | Chain | Supported Tokens | | ------------ | -------------------- | | **Tron** | USDT, USDC, PHT, TRX | | **Ethereum** | USDT, USDC, PHT, ETH | ## Do clients need to store private keys themselves? No. With our MPC-based architecture, clients never hold the complete private key. Each party retains only an encrypted share, and the full key is never reconstructed or persisted, reducing operational risk while maintaining security and usability. ## What options are available for gas fee payments Xafer supports flexible gas fee strategies, such as: * Gas paid by user wallet (standard) * Gas covered by enterprise wallet (meta tx model) * Unified multi-chain gas pool with usage alerts Ideal for user-friendly applications like games and social platforms\
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# APACX APACX is a technology provider led by experienced professionals with a track record of success in Web3, Fintech, e-banking, and digital entertainment. We serve a wide range of clients, including traditional financial institutions, DeFi projects, and companies transitioning from Web2 to Web3, offering tailored go-to-market services. ### Our Vision Build a reliable, efficient, and scalable stablecoin infrastructure that drives successful commercialization and long-term growth. ### Our Mission Build a decentralized financial framework that ensures stability, transparency, and accessibility across APAC. ### Website [www.apacx.io](https://www.apacx.io/)
### Social Media Twitter: \ Linkedin: ### Contact Us For business collaborations, partnership discussions, or consultation requests, Feel free to connect with us via `contact@apacx.org` # Introduction ### What is PowerCard? PowerCard is an enterprise-grade crypto prepaid card solution launched by APACX, designed to help businesses seamlessly bridge the gap between digital assets and real-world payments. Issued in partnership with licensed financial institutions, PowerCard is integrated into the global Visa and Mastercard networks, supporting multi-currency top-ups and fiat-based spending. It is widely applicable in scenarios such as payroll distribution, community incentives, freelancer payments, and cross-border expense management. Enterprises can issue cards in bulk, set usage permissions, and track spending activities, choosing between virtual or physical card formats depending on operational needs. PowerCard adheres to international KYC/AML compliance standards and is backed by local settlement accounts in multiple jurisdictions, enabling secure and efficient fund circulation across borders. ### What Problem Does PowerCard Solve? PowerCard addresses the disconnect between crypto asset management and real-world payment utility by offering a secure and compliant solution. In traditional settings, enterprises face significant challenges when distributing crypto incentives—users often struggle with high withdrawal fees, slow conversion, limited utility, or regulatory hurdles. At the same time, many Web3 projects lack reliable and scalable payout infrastructure, making it difficult to manage fragmented financial operations. PowerCard solves this through a closed-loop system that allows enterprises to top up user cards with stablecoins, which can then be spent directly—online or offline—without the need for conversion. This not only simplifies cross-border usage and lowers conversion costs, but also provides enterprises with tools for spending control, permission management, and full financial transparency in a compliant environment. \
# Core Capabilities ### Multi-Currency Top-Up Support PowerCard supports major stablecoins such as USDT, USDC, and PHT as funding assets. Enterprises can configure which tokens to accept based on their operational needs. All top-up amounts are converted into the designated spending currency (e.g., fiat balance) at real-time exchange rates and can be used immediately for global payments. The top-up process is highly flexible, supporting direct wallet transfers, third-party token payment gateways, API-based disbursements, and internal Web3 system integration, enabling seamless funding across various business architectures. ### Isolated User Funds & Controlled Spending PowerCard operates on a prepaid model, meaning users can only spend within their loaded balance, eliminating credit risk. Enterprises can define card-specific spending controls such as transaction limits, daily/monthly caps, and usage categories to ensure tighter budget management. Funds are held in segregated accounts, maintaining clear separation between enterprise and user assets. Comprehensive financial reports and transaction logs are available for download to facilitate internal reconciliation and audits. ### Global Payment Acceptance Backed by licensed payment institutions, PowerCard is fully integrated with the global Visa and Mastercard networks, supporting both online and in-store transactions across over 200 countries and regions. Whether used on e-commerce platforms, subscription services, point-of-sale terminals, restaurants, or transportation, PowerCard ensures seamless global payment experiences. Built-in foreign exchange and cross-currency processing mechanisms guarantee smooth, cost-efficient transactions, making it ideal for international use cases. ### Virtual & Physical Card Options PowerCard enables enterprises to issue both virtual and physical cards, tailored to diverse geographic and payment scenarios. Virtual cards are suitable for instant issuance, online transactions, and mobile integration, while physical cards are optimized for everyday offline purchases, travel, and frequent cross-border use. Both types are managed through a unified backend system that supports batch issuance, funding, and transaction tracking, improving operational scalability and control. ### API / SDK Integration PowerCard offers easy-to-use APIs and SDKs that allow enterprises to embed card issuance, funding, risk controls, and billing management directly into their own systems. This integration is ideal for companies with custom frontends, wallet apps, platform products, or Web3 infrastructure services. Through programmable interfaces, businesses can automate user onboarding, KYC data submission, card provisioning, and balance updates—without the need to build a full payments stack—enabling rapid deployment of tailored payment solutions.
# Partnership Models | Model | Description | | --------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------- | | **White-label Issuance** | Partner issues cards under their own brand, with full front-end customization. PowerCard handles backend operations and compliance. | | **Prepaid Card-as-a-Service** | Partner uses PowerCard’s platform directly to issue cards without branding or development requirements. | | **Embedded Issuance via API/SDK** | Partner connects via API to automate card issuance, top-ups, and transaction notifications. | ### White-label Issuance This model is ideal for Web3 projects, wallets, platform-based enterprises, DAOs, and guilds seeking to build their own branded payment card experience. With white-label issuance, partners can fully customize the card interface and user journey—including physical card design, virtual card interface, issuance notifications, and user dashboards. PowerCard handles the backend infrastructure, including card provisioning, risk management, KYC compliance, and payment processing, allowing partners to focus on branding and user operations. Businesses can issue cards in bulk, define usage rules, and optionally integrate via API or SDK to embed issuance, funding, and transaction monitoring directly into their own systems. This model suits companies looking for deep brand ownership, enhanced UX control, and long-term scalability. ### Prepaid Card-as-a-Service Designed for companies that want to enable card functionality quickly without branding customization or technical integration, this model allows partners to issue cards directly through PowerCard’s standardized platform. No front-end development or compliance operations are required. Partners simply onboard users via the PowerCard interface, where they can activate and top up cards using preset templates and flows. This approach is particularly suitable for short-term campaigns, reward distribution, pilot programs, and incentive testing, offering a fast go-to-market path with minimal operational overhead. It’s a lightweight, cost-efficient choice for early-stage projects or resource-constrained teams. ### Embedded Issuance via API/SDK This model targets technically capable enterprises that require seamless backend integration of card services into their own systems. Using PowerCard’s developer APIs, businesses can programmatically manage core functions such as card issuance, top-ups, freezes/unfreezes, transaction tracking, and balance updates. These functions can be embedded directly into proprietary wallets, CRM platforms, accounting systems, or Web3 applications. Full developer documentation, sandbox environments, and integration support are provided to ensure a smooth implementation. This model delivers maximum flexibility and control, ideal for platforms aiming to build card-as-a-service capabilities or those with strict requirements for user workflow and financial data management.
# Enterprise Issuance Workflow 1. **Partnership Alignment & Onboarding** The process begins with both parties confirming the collaboration model (e.g., white-label, platform-based issuance, or Embedded Issuance via API/SDK), defining the target markets, business objectives, go-live timeline, and regional compliance scope. Once aligned, the partnership moves into formal onboarding preparation. 2. **Brand Submission & KYC Verification** Enterprises are required to submit company registration documents, compliance materials, and business operation details for KYC verification. For white-label issuance, additional branding assets are needed, such as logos, brand color codes, card face design references, and naming conventions, which will be used for card customization. 3. **Account Setup & Pre-Launch Testing** Upon approval, PowerCard will provision a dedicated enterprise account within its backend system, configure initial issuance limits, and assign role-based access. A sandbox environment will also be enabled, along with virtual test cards to allow the partner to verify issuance, funding, and transaction flows—ensuring system readiness prior to launch. 4. **Card Launch & User Activation** Enterprises can then begin issuing both virtual and physical cards, topping up balances, and distributing them to end users. Users can activate and manage their cards through designated channels such as Telegram bots, enterprise apps, or the PowerCard web portal. All cards are compatible with global online and offline merchants, and spending can be managed according to rules set by the issuing enterprise. 5. **Settlement, Reconciliation & Ongoing Support** PowerCard provides monthly financial statements, exportable data on top-ups and transactions, and detailed usage reports. This supports enterprise partners with internal reconciliation, accounting, and operational analysis. Additional support such as periodic performance reviews or custom data dashboards can be provided to ensure long-term, scalable cooperation.

# Compliance & Risk Management Framework ### Licensed Partners & Global Network Compliance All PowerCard-issued cards are provisioned in partnership with licensed financial institutions, with full integration into the global Visa and Mastercard networks. Issuing partners hold the necessary financial licenses and clearing capabilities to ensure that card issuance, merchant settlement, and transaction processing comply with international and local financial regulations. The system supports multi-currency clearing, enabling seamless cross-border transactions in a fully compliant environment. ### User Identity Verification & Enterprise-Assisted KYC Before card activation, users are required to complete a basic KYC (Know Your Customer) process to verify their identity and meet Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) requirements. For enterprise partners, PowerCard offers an “enterprise-assisted KYC” option—allowing businesses to collect user identification data and upload it via API or platform tools. PowerCard’s compliance engine then performs automated verification and archiving, streamlining the onboarding process while ensuring regulatory adherence. ### **Risk Controls & Transaction Monitoring** PowerCard enables enterprises to configure risk rules based on geography, token type, user profile, and more. Spending limits and geographic restrictions can be applied to mitigate the risk of abnormal fund flows or regulatory exposure. A real-time transaction monitoring engine is embedded to detect suspicious behaviors, high-frequency spending, and unusual volumes. It supports dynamic actions such as card freezing/unfreezing, risk alerts, and automated incident flags. Additionally, enterprises can customize card-level policies—including merchant whitelisting, category-based usage restrictions (e.g., travel-only or e-commerce-only), and time-based spending limits—to further enhance operational security.
# Business Model ### Card Issuance Fees Enterprises can choose from **different pricing models based on their issuance volume and operational goals.** For standard collaborations, PowerCard offers a tiered pricing structure—where the per-card cost decreases as issuance volume increases. For long-term or high-volume partners, **a hybrid model with free card issuance + annual service fee** is also available, helping reduce upfront costs while maintaining budget predictability. ### Top-Up Processing Fees All user top-ups are routed through compliant stablecoin channels integrated with PowerCard. A fixed percentage fee per transaction (typically 0.5% to 1%) is applied to cover blockchain network fees, settlement costs, and liquidity routing. Enterprises may choose to absorb this fee or partially pass it on to users, depending on their business model—whether it's for incentive payouts, task-based rewards, or self-funded reloads. ### Spend-Based Rebate Mechanism Whenever users make purchases through the PowerCard on the Visa or Mastercard networks, a percentage of the transaction amount is returned to the enterprise as a rebate. This rebate is offered by clearing partners or merchant networks and serves as a key monetization channel for enterprises. It is especially well-suited for growth-driven use cases like “spend-to-earn” or “reward-upon-action” programs. ### Customization Fees (Optional) For enterprises seeking advanced brand customization or deeper system integration, PowerCard offers a suite of premium services. These include **custom card design, tailored risk strategies, API/SDK integration support, and operational dashboards**. Fees for these services are charged on a modular basis or based on resource usage, allowing partners to configure the right feature set while maintaining control over cost and deployment scale. # FAQs ### Is each card linked to a verified user identity? No. PowerCard offers two levels of identity verification for card issuance: * Basic Tier (No ID required): Suitable for low-limit cards with strict single-transaction and cumulative spending caps. These are restricted to low-risk scenarios. * Advanced Tier (ID-Linked): Designed for higher spending limits. Users must complete a basic KYC process (which can be enterprise-assisted) to unlock additional features and limits. Enterprises can choose the appropriate issuance type based on their risk preferences and local regulatory requirements for different user segments. ### Do users need to download an app to use the card? No app download is required. PowerCard supports both web and mobile H5 interfaces. Users can activate and manage their cards via Telegram, mini-programs, or web pages embedded within an enterprise’s app. For API-integrated solutions, enterprises may embed all card-related functionalities into their own frontend, enabling users to top up and spend directly within the existing platform. ### **Can card limits be adjusted dynamically?** Yes. Enterprises can set initial card limits and dynamically adjust parameters such as spending caps, top-up frequency, and valid time windows based on user behavior, business needs, or risk outcomes. Tiered strategies can also be applied across card groups or user segments—for example, to manage travel budgets, incentive programs, or temporary campaigns. ### Is bulk card issuance supported? Yes. PowerCard allows bulk issuance via the admin panel or API, supporting both virtual and physical cards. Enterprises can upload user information or user ID lists, and the system will automatically assign cards to specified users. Default limits, usage rules, and group policies can be configured to suit scenarios such as promotional campaigns, employee benefits, or large-scale community engagement. ### Does PowerCard handle logistics for physical cards? Yes. Physical cards are produced and shipped by PowerCard’s certified fulfillment partners, with support for delivery to major countries and regions globally. Enterprises may choose to have cards shipped directly to end users or sent in bulk to a central location for internal distribution. Shipping status and issuance tracking are available in the backend dashboard. ### What happens if a user's assets are frozen or compromised? If suspicious activity is detected, a user reports an issue, or the risk engine is triggered, PowerCard will immediately freeze the affected card and initiate the fraud response protocol. Both enterprises and users can file appeals or request resolution. For verified users, detailed transaction history and identity records can be used to assist in fund recovery. For unverified users, only loss prevention (via freezing) is supported. PowerCard’s account segregation and limit mechanisms help minimize potential losses.