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Delivery Plan Review

Source: docs/delivery-plan.html (Phase 1 + Phase 2 Delivery Plan, pandoc-rendered HTML from client, received 2026-04-22) Compared against: docs/milestone-acceptance-criteria.md, docs/system-spec-summary.md, docs/tokenomics-proposal.md, docs/staking-system-spec.md, user memory Purpose: Capture new acceptance detail, flag contradictions with already-decided items, identify staleness.

1. Contradictions needing client clarification

1.1 Custody provider — RESOLVED 2026-04-22

  • Delivery plan (M2 Part B): "Fireblocks Integration — Institutional custody setup, Wallet provisioning, Policy enforcement"
  • User memory + git commit 47a6a58 (2026-04-19): "Switch custody provider from Fireblocks to BitGo per client confirmation"
  • Resolution (2026-04-22, user confirmed): BitGo is current. The HTML delivery plan pre-dates the 2026-04-19 decision and is stale on custody. Delivery plan needs "Fireblocks Integration" section rewritten as "BitGo Integration" before external share.

1.2 Timeline

  • Delivery plan (M2): "Duration: Week 2 / Due: 10 March 2026"
  • Today is 2026-04-22. 10 March 2026 is 6 weeks past.
  • No other milestone has an absolute date in the HTML (only M2).
  • Question: Is the contract timeline Feb–Mar 2026 (and we are 6 weeks late on M2), or was 10 March a placeholder from an earlier draft? Reconcile against the signed contract.

1.3 Seed allocation

  • Delivery plan (M2 "Allocation Requirements"): "Pre-Seed total: 130,000,000 / Seed total: 160,000,000"
  • Client confirmed 2026-04-22: Seed = 120M (matches system-spec-summary.md)
  • Action: Delivery plan HTML needs Seed corrected to 120M before it's shared externally.

1.4 Buyback cadence

  • Delivery plan (M5): "Automated monthly profit calculation / Automated buyback execution"
  • System-spec (§5, revenue routing): implies weekly deposits to staker rewards; buyback is tied to revenue-stream percentages, not monthly profit
  • Question: Is buyback monthly (delivery plan) or weekly (system-spec)? And based on revenue streams (per router) or net profit (per delivery plan)? Two different mechanics.

2. New acceptance detail worth capturing

Not in milestone-acceptance-criteria.md currently. These should be added (once the contradictions above are resolved).

2.1 M2 smart contracts

  • Testnet deployment + explorer verification (not just mainnet)
  • Minimum 90% test coverage — explicit coverage gate
  • Allocation & Vesting:
  • Pre-Seed allocations via Merkle import (not on-chain purchased)
  • Seed allocations via Merkle import (not on-chain purchased)
  • Unified claim system gated by TGE timestamp

2.2 M2 custody & treasury

  • Stablecoin networks: Ethereum, BSC, Solana, Tron (USDC / USDT)
  • Fiat rails: SEPA, SWIFT, ACH with automatic fiat→stablecoin conversion
  • Treasury allocation: 50% active trading capital / 50% liquidity & risk reserve (with role-based transaction limits)

2.3 M3 presale platform

  • Admin panel must support: CSV upload (Pre-Seed + Seed allocations) → generate Merkle root → push to chain → freeze allocations; set and freeze TGE timestamp; export CSV reports (Purchases, Allocations, Claims); audit logging of all admin actions
  • Backend indexer must reconcile against on-chain totals
  • Investor dashboard auth: "wallet-based, OAuth, or hybrid"

2.4 M4 compliance

  • Tiered KYC: Retail / HNWI / Institutional (three explicit tiers)
  • Jurisdiction-based access controls (implies a jurisdiction list — still an open legal question per staking-open-questions §6)
  • MFA required on email authentication
  • Trading disabled until KYC approval

2.5 M4 strategies

  • Named strategies: Mean reversion + Funding spread arbitrage (replaces vague "AI/ML strategies" in CLAUDE.md)
  • Risk controls: max drawdown, strategy exposure caps, exchange-specific kill-switches

2.6 Phase 2 — nuance worth flagging

  • P2-M3 (Margin & Derivatives): "Architecture ready for perpetuals and futures" — not functional perps/futures in this milestone. Active-tasks.md and components-index.md should note perps are substrate in P2-M3, not deliverable.
  • P2-M4 (Liquidity & Market Making): confirms M1-engine is a substrate; full MM engine is M4 (per memory + spec). Matches existing understanding.

3. Matches — no action needed

  • M1 deliverables match existing criteria 1:1
  • M3 presale scope matches (6 rounds, Private A/B/C + Public purchasable, Pre-Seed + Seed retrospective)
  • M5 staking is high-level in the delivery plan; detailed spec in docs/staking-system-spec.md and docs/staking-open-questions.md expand it (expected — delivery plan is contract-level, staking FINAL docx is the appendix)
  • Phase 2 milestones match CLAUDE.md roadmap labels

4. Summary for sign-off

# Item Action
1.1 ~~Custody provider (Fireblocks vs BitGo)~~ Resolved 2026-04-22: BitGo. Delivery plan HTML needs Fireblocks→BitGo edit before external share
1.2 Timeline (10 March due date) Reconcile against signed contract; confirm actual M2 deadline
1.3 Seed allocation (160M in HTML) Correct delivery plan to 120M
1.4 Buyback cadence (monthly vs weekly) Pick one; update both delivery plan and system-spec
2.* New acceptance detail Merge into milestone-acceptance-criteria.md once 1.* resolved