# Community
Source: https://whitepaper.prosperavest.com/community
You can connect with Prosperavest here
Website: [https://prosperavest.com/](https://prosperavest.com/)
Dapp: [https://app.prosperavest.com/](https://app.prosperavest.com/)
Twitter(X): [https://x.com/Prosperavest](https://x.com/Prosperavest)
Telegram: [https://t.me/prosperavest](https://t.me/prosperavest)
LinkedIn: [https://uk.linkedin.com/company/prospera-vest](https://uk.linkedin.com/company/prospera-vest)
Instagram: [https://www.instagram.com/prosperavest](https://www.instagram.com/prosperavest)
# đ Disclaimer
Source: https://whitepaper.prosperavest.com/ensc/disclaimer
This document serves as a disclaimer for the ProsperaVest Whitepaper ("Whitepaper"). By accessing or using this Whitepaper, you agree to the following terms and conditions:
**1. Information Purpose:**
* The Whitepaper is for informational purposes only and does not constitute financial, legal, or investment advice. Any decision to participate in ProsperaVest or invest in related tokens should be based on thorough personal research and consultation with appropriate professionals.
**2. Not an Offering:**
* The Whitepaper is not an offer to sell or a solicitation of an offer to buy any security, investment, or financial product. It is not intended to create, nor does it create, any contractual relationship between ProsperaVest and the reader.
**3. Token Risks:**
* Investing in tokens involves risks. Readers should carefully consider and evaluate all risks associated with ENSC tokens, including but not limited to market risks, regulatory risks, and operational risks.
**4. Regulatory Compliance:**
* ENSC tokens may be subject to regulatory requirements in various jurisdictions. It is the responsibility of the reader to understand and comply with relevant laws and regulations applicable to their jurisdiction.
**5. Forward-Looking Statements:**
* The Whitepaper may contain forward-looking statements, projections, and estimates. These statements are based on assumptions and expectations and are subject to change. ProsperaVest undertakes no obligation to update or revise any forward-looking statements.
**6. No Guarantee:**
* ProsperaVest does not guarantee the accuracy, completeness, or timeliness of information presented in the Whitepaper. Information may be subject to change without notice.
**7. Third-Party Links:**
* The Whitepaper may contain links to third-party websites or resources. ProsperaVest is not responsible for the content, accuracy, or opinions expressed on such websites. Use of third-party resources is at the reader's own risk.
**8. Intellectual Property:**
* All intellectual property rights related to the Whitepaper, including but not limited to trademarks, logos, and content, are owned by ProsperaVest. Unauthorized use, reproduction, or distribution is strictly prohibited.
**9. No Liability:**
* ProsperaVest and its team members shall not be liable for any direct, indirect, incidental, consequential, or exemplary damages arising from the use of the Whitepaper or reliance on its content.
**10. Modification and Termination:** - ProsperaVest reserves the right to modify or terminate the Whitepaper at any time without notice.
**11. Governing Law:** - This disclaimer is governed by and construed in accordance with the laws of ProsperaVest's jurisdictions of incorporation, and any disputes arising out of or in connection with this disclaimer shall be subject to the exclusive jurisdiction of the courts of such jurisdictions.
12. **THE SECURITIES AND EXCHANGE COMMISSION HAS NOT APPROVED ENSC TOKENS OR DETERMINED IF THE TOKENS ARE SECURITIES AND THUS, SHALL BE REGISTERED, OR THAT THE CONTENT OF THE WHITEPAPER ARE ACCURATE AND COMPLETE. ANY FALSE OR MISLEADING REPRESENTATION IS A CRIMINAL OFFENCE AND SHOULD BE REPORTED IMMEDIATELY TO THE SECURITIES AND EXCHANGE COMMISSION.**
By accessing the ProsperaVest Whitepaper, you acknowledge and agree to the terms and conditions outlined in this disclaimer.
*This document is subject to updates, and users are encouraged to review it periodically for any changes.*
# đ ENSC API Docs
Source: https://whitepaper.prosperavest.com/ensc/ensc-api-docs
# đ FGN TBILLS Tokenization
Source: https://whitepaper.prosperavest.com/ensc/fgn-tbills-tokenization
INTRODUCTION: Bringing FGN TBILLS on chain
ProsperaVestâs âFGNTBILLs vaultâ is an on chain smart contract vault that provides investors with direct exposure to a diversified pool of short dated (30-365days) Nigerian Treasury Bills (T-Bills) through the minting of the âFGNTBILLs tokenâ. Each âFGNTBILLs tokenâ is backed 1:1 by the â[eNsc token](/ensc/the-naira-stablecoin-engnsc)â a Naira crypto-native currency, ensuring stability, liquidity, and seamless on-chain redemptions.
**Stakeholders**
1. **Investors**: The Investor subscribes for âFGNTBILLs tokenâ by depositing [eNsc](/ensc/the-naira-stablecoin-engnsc) into theâFGNTBILLs vaultâ. In exchange, the Investor receives âFGNTBILLs tokenâ, which they self custody in their private, non-custodial wallets, maintaining full control and ownership of their assets. The Investor can redeem their âFGNTBILLs tokenâ for eNsc stablecoin directly from the âFGNTBILLs vaultâ, ensuring frictionless access to liquidity backed by short-dated Nigerian Treasury Bills and [eNsc](/ensc/the-naira-stablecoin-engnsc) reserves.
2. **Token Issuer**: ProsperaVest ESG Ltd (the Issuer) is a registered entity under the Corporate Affairs Commission (CAC) and is undergoing registration for Nigeriaâs Accelerated Regulatory Incubation Program as a Digital Asset Operating Platform (DAOP) under the oversight of Nigeriaâs Securities and Exchange Commission (SEC). The Issuer facilitates the tokenization of Nigerian Treasury Bills and manages the âFGNTBILLs vaultâ, ensuring compliance with local securities regulations while enabling on-chain minting and redemption of âFGNTBILLs tokenâ backed by real world assets and the [eNsc](/ensc/the-naira-stablecoin-engnsc).
3. **Investment Manager**: A licensed third party fund management company, authorized and regulated under Nigeriaâs Securities and Exchange Commission (SEC), oversees the investment mandate for short-dated Nigerian Treasury Bills (T-Bills) on behalf of ProsperaVest ESG Ltd. This Investment Managerâs sole responsibility is to allocate and manage the âFGNTBILLs vaultâ assets in segregated bank accounts held with regulated, tier-one custodians in Nigeria, ensuring compliance with local securities laws and alignment with ProsperaVestâs role as a Digital Asset Operating Platform (DAOP) under Nigeriaâs Accelerated Regulatory Incubation Program.
# Benefits of On chain Tbills exposure
Source: https://whitepaper.prosperavest.com/ensc/fgn-tbills-tokenization/benefits-of-on-chain-tbills-exposure
ProsperaVest: Unlocking Nigerian T-Bills On-Chain with eNsc
**Bridging the Gap in DeFi with Sovereign-Backed Stability:**
In todayâs evolving DeFi ecosystem, crypto-native investors seek secure, transparent returns without compromising on accessibility. While real-world assets like Nigerian Treasury Bills (T-Bills) have traditionally been confined to off chain markets, ProsperaVestâs FGN TreasuryBillVault bridges this divide, offering on chain exposure to Nigeriaâs sovereign debt via the ENSC stablecoin. Designed for investors eyeing Africaâs growth, Nigerian T-Bills stand out as:
* **Sovereign-Backed Security:** Issued by the Nigerian government, T-Bills represent a cornerstone of low-risk investment in Africaâs largest economy, underpinned by national creditworthiness.
* **Growing Liquidity:** With a robust secondary market, Nigerian T-Bills are a focal point for institutional and retail investors, enhanced by 24/7 on-chain tradability.
* As Nigeriaâs Central Bank maintains elevated rates to stabilize the Naira and curb inflation, T-Bills emerge as a compelling yield avenue for Web3 investors especially those excluded from traditional channels. ProsperaVest simplifies access: invest [eNsc](/ensc/the-naira-stablecoin-engnsc) in a single transaction and mint FGN TBILLS tokens, your gateway to sovereign-grade returns.
**Why Prosperavest's Treasury Bills Vault?**
1. **Transparency & Accountability**
* Daily and monthly NAV audits by Nigerian-regulated fund administrators.
* On-chain verification of reserves, ensuring 1:1 backing by T-Bills and eNsc.
2. **Self Custody Sovereignty:** Investors **h**olds "FGNTBILLS tokens" in non-custodial wallets, retaining full control over your economic stake in the underlying assets.
3. **Sovereign Risk Mitigation:** Backed by the Nigerian government, T-Bills offer stability in a high growth economy, balancing sovereign risk with Africaâs macroeconomic potential.
4. **Regulatory-First Compliance:** ProsperaVest will operate under Nigeriaâs Securities and Exchange Commission (SEC) as a registered Digital Asset Operating Platform (DAOP), adhering to local securities laws through the Accelerated Regulatory Incubation Program.
# FGN TBILLS Redemption Process
Source: https://whitepaper.prosperavest.com/ensc/fgn-tbills-tokenization/fgn-tbills-redemption-process
#### 1. Instant Redemption (†50,000 ENSC)
* 24/7 Atomic Settlement: Redeem tokens for ENSC instantly via on-chain atomic swaps on the Lisk network, ensuring no counterparty risk.
* No Delays: Smart contracts automatically burn redeemed tokens and release equivalent ENSC (minus fees) to the investorâs whitelisted wallet.
#### 2. Large Redemptions (> 50,000 ENSC)
* Redemption Queue: Larger amounts enter a priority queue settled within 1â36 hours, aligning with Nigerian T-Bill liquidity cycles.
* Transparent Tracking: Investors monitor queue status in real-time via the vaultâs dashboard, with email/SMS notifications upon completion.
#### Key Mechanics
* Token Burning: Redeemed FGN TBILLs tokens are permanently destroyed on-chain to maintain the 1:1 reserve ratio.
* Fee Structure: Redemptions incur a minimal network fee to cover Lisk gas fee costs and vault operations.
* Final Amount: Investors receive ENSC equivalent to the redeemed tokensâ value at redemption time, adjusted for fees.
### Redemption Queue
The requests in the redemption queue are processed in accordance with a First-In-First-Out (FIFO) model. Redemptions are typically processed on the next 1-3. business day.
# FGNTBILLs Subscription Process
Source: https://whitepaper.prosperavest.com/ensc/fgn-tbills-tokenization/fgntbills-subscription-process
Unleash Your Wealth Potential, Like a Boss
Once onboarded and whitelisted, an investor can subscribe to FGN TBILLs tokens through the FGN TBILLS vault by depositing [eNsc](/ensc/the-naira-stablecoin-engnsc) (Nigeriaâs crypto-native stablecoin) via the vaultâs app interface. The process is instant and governed by audited smart contracts:
1. **Deposit** [**eNsc**](/ensc/the-naira-stablecoin-engnsc)**:** The investor transfers [eNsc](/ensc/the-naira-stablecoin-engnsc) from their whitelisted wallet to the vault.
2. **Mint Tokens:** The vault automatically mints FGN TBILLs tokens (vault shares - proof of ownership) equivalent to the deposited ENSC value at the time of transaction, backed 1:1 by Nigerian Treasury Bills (T-Bills) and ENSC reserves.
3. **Self-Custody:** Vault shares are sent directly to the investorâs wallet, where they retain full ownership and control.
# Investor Onboarding
Source: https://whitepaper.prosperavest.com/ensc/fgn-tbills-tokenization/investor-onboarding
Giving you a seamless onboarding
The FGN TBILLS vault operates as a permissioned protocol, requiring investors to undergo a streamlined yet secure onboarding process. Prospective users initiate by submitting identity documentation for the KYC/KYB/KYT process,through ProsperaVestâs digital portal. The compliance team then verifies and whitelists eligible investors
Approved wallets are whitelisted on-chain, enabling investors to deposit [eNsc](/ensc/the-naira-stablecoin-engnsc) and mint FGN TBILLs tokens. The process typically takes 5-10 minutes for document submission, with approval finalized within 1â3 business days. Once whitelisted, investors gain 24/7 access to mint, redeem, or transfer tokens between verified wallets, ensuring compliance with anti-money laundering (AML) protocols.
ProsperaVest integrates ongoing monitoring to maintain regulatory alignment, including periodic wallet screening and transparent reporting frameworks. By merging DeFi efficiency with Nigeriaâs financial safeguards, the platform empowers verified users to access sovereign-grade yield while prioritizing security and accountability.
**High Level Process:**
1. Potential Investor kickstarts onboarding through the onboarding link.
2. Compliance team performs KYC checks based on documents provided.
3. Compliance team performs KYT checks based on wallet address provided.
4. If KYC and KYT checks are successful, compliance team whitelists the Investor's wallet address on-chain.
5. Email gets sent out to Investors who have successfully cleared KYC informing them they are able to perform their first Subscription.
Note:
FGNTBILLs token is only accessible to professional investors that have cleared the KYC/KYB and KYT process.
# On & Off-Chain Governance and Control
Source: https://whitepaper.prosperavest.com/ensc/fgn-tbills-tokenization/on-and-off-chain-governance-and-control
ProsperaVest has put in place a robust system of internal controls to uphold users safety. These include the proactive coolâdown periods on deposits.
To complement our onâchain safeguards and meet institutional and regulatory standards, ProsperaVest enforces rigorous offâchain governance processes:
## Proactive Cool-Down Periods
The TBILL Vault integrates a cool-down period following user deposits into the vault. This mechanism provides a window of stability and is a deliberate control to manage deposit and withdrawal flows preventing sudden outflows and helping manage liquidity.
## Governance
We operate under stringent compliance and regulatory frameworks, partnering with reputable, institutionalâgrade service providers across custody, fund administration, and legal oversight.
## Third-Party Fund Manager Involvement
An independent and regulated thirdâparty fund manager sits on our multiâsignature panel, coâauthorizing all largeâscale asset movements and publishing a monthly netâassets report for full transparency.
## Movement of Funds
The movement of funds related to the TBILL Vault is protected by clearly defined authorization protocols. Only users with the correct credentials and authorizations are permitted to initiate and approve fund movements, using standardized transfer templates to eliminate manualâentry errors.
Relevant members of the ProsperaVest team receive real-time alerts whenever there is a movement of funds associated with the TBILL Vault.
## Segregation of Roles
Segregation of roles is essential for maintaining the integrity and security of ProsperaVestâs operations. This practice involves the systematic division of responsibilities and permissions among individuals or teams to prevent any single entity from having unchecked authority over critical processes or sensitive data.
By implementing segregation of roles, ProsperaVest reduces the risk of fraud, errors, and unauthorized access. It fosters transparency, accountability, and a robust internal control frameworkâensuring that checks and balances are always in place to protect ProsperaVestâs assets and uphold regulatory compliance.
# Product Structure
Source: https://whitepaper.prosperavest.com/ensc/fgn-tbills-tokenization/product-structure
Prosperavest FGN TBILLs product structure
The FGN TBILLs token is an ERC-20 compliant digital asset representing an investorâs proportional stake in the FGN TBILLS vault, a smart contract pool of short dated Nigerian Treasury Bills (T-Bills). By depositing [eNsc](/ensc/the-naira-stablecoin-engnsc), users mint FGN TBILLs tokens, granting legal claim to the vaultâs underlying assets. Investors self-custody tokens in whitelisted wallets, bearing sole responsibility for security.
Minting, redemption, and transfers require SEC compliant KYC/KYB/KYT, with transactions restricted to verified wallets. Each FGN TBILLs token is 1:1 backed by Nigerian T-Bills and [eNsc](/ensc/the-naira-stablecoin-engnsc) liquidity, auditable on-chain and verified monthly by Nigerian regulators.
ProsperaVest will operate as a SEC registered Digital Asset Operating Platform (DAOP), partnering with licensed custodians, legal advisors, and auditors to ensure compliance with Nigeriaâs Investment and Securities Act. Redemptions settles in a First-In-First Out Queue book order within one to three business day.
Designed for Web3 CFOs, DAOs, and retail investors, the FGN TBILLS vault democratizes access to low risk, yield bearing sovereign debt bridging crypto liquidity and Nigeriaâs financial future.
### Prosperavest ESG Vault Strategy
The FGN TBILLS vault prioritizes capital preservation, liquidity, and risk-adjusted yield by anchoring its holdings to short-duration Nigerian Treasury Bills (T-Bills) sovereign debt instruments backed by the Federal Government of Nigeria. These T-Bills serve as the vaultâs cornerstone, offering institutional grade stability through their sovereign guarantee and deep liquidity in Nigeriaâs secondary markets.
Diversification across multiple T-Bill issuances and partnerships with SEC licensed custodians mitigate concentration risk, while monthly on-chain audits verify the 1:1 backing of every FGN TBILLs token.
# Why bring the Nigerian TBills on chain
Source: https://whitepaper.prosperavest.com/ensc/fgn-tbills-tokenization/why-bring-the-nigerian-tbills-on-chain
The New Frontier
The global financial landscape shifted dramatically as central banks, led by the U.S. Federal Reserve, escalated interest rates to combat inflation. This pivot from years of ultra-loose monetary policies triggered a widespread retreat from risk assets tech stocks tumbled, bond markets wavered, and speculative cryptocurrencies faced steep sell-offs. But for Nigeria, the fallout cut deeper: capital flight from emerging markets spiked, the Naira faced historic devaluation, and local investors scrambled for stability. Meanwhile, DeFiâs once-booming yield farms fueled by unlimited token printing and Ponzi-like incentives collapsed, leaving crypto natives wary of empty promises. In this reshaped landscape, Nigerian Treasury Bills (T-Bills) on-chain emerge as a lifeline, merging sovereign trust with crypto innovation. Hereâs why Africaâs largest economy is primed to lead this revolution:
1. **From Volatility to Sovereignty:**
Nigeriaâs economy faces perculiar challenges: global capital outflows, oil revenue instability, and a weakening Naira. Traditional safe havens like U.S. T-Bills became inaccessible to most Nigerians due to dollar scarcity and regulatory friction. Simultaneously, cryptoâs âWild Westâ era marked by Terraâs collapse and hyperinflated DeFi yields left investors skeptical. Tokenized Nigerian T-Bills offer a middle path: localized, sovereign-backed yield accessible 24/7 via ENSC, a Naira-pegged stablecoin. This isnât just diversification itâs economic self-preservation.
2. **DeFiâs Broken Promises Meet Africaâs Real Needs:**
The DeFi boom lured Nigerians with unsustainable 100%+ APYs (Ponzi structured), but these farms often relied on token emissions detached from real value. When the music stopped, many were left holding worthless governance tokens, or those schemes that are custodial left many with no tokens/money at all. Meanwhile, idle stablecoins like \$1.5B+ in USD-backed tokens(USDC/USDT/BUSD) held by Nigerians sat dormant, earning zero yield. Prosperavest ESG Tokenized T-Bills flips the script by:
* **Providing Real Yield, No Gimmicks:** Earn 10-20% APY (Nigeriaâs T-Bill rates) backed by government debt, not algorithmic magic.
* **Stablecoin Utility:** Deploy [eNsc](/ensc/the-naira-stablecoin-engnsc) already trusted for cross-border trade into yield-bearing vaults, turning stagnant reserves into productive capital.
* **Regulatory Clarity:** ProsperaVestâs SEC-aligned DAOP framework ensures compliance, unlike opaque DeFi protocols gambling with usersâ funds.
3. **Rebuilding Trust With Onchain Transparency:**
After the collapse of predatory investment schemes (Ponzi schemes), trust is scarce, Nigerian treasury bills on chain solves this by:
* **1:1 Asset Backing:** Every âFGNTBILLs tokenâ is auditable on-chain, tied to actual T-Bills and eNsc reserves no fractional reserves or hidden debt.
* **Institutional Guardianship**: Assets are managed by SEC licensed custodians, not anonymous DAOs
* **Economic Policy Synergy**: By channeling crypto liquidity into T-Bills, ProsperaVest supports the Central Bankâs monetary goals curbing inflation and stabilizing the Naira while giving investors a stake in national growth
4. **The Rise of Africaâs Crypto-Native Institutions:**\
Tokenized T-Bills arenât just a Nigerian play Its a manifesto for the Global South. By leveraging blockchain to democratize access to local debt markets, Nigeria can:
* Attract global crypto capital into its economy, reducing reliance on volatile oil exports
* Empower SMEs and retail investors to hedge against inflation with minimal barriers.
# đ KYC/KYB/KYT
Source: https://whitepaper.prosperavest.com/ensc/kyc-kyb-kyt
Know Your Customer (KYC), Know Your Business (KYB), Know Your Transaction (KYT) and Anti-Money Laundering (AML) Policy
ProsperaVest is committed to maintaining a secure and compliant platform for its users. This KYC, KYT and AML Policy outlines the procedures for identity verification and anti-money laundering measures implemented to ensure the integrity of our decentralized lending platform.
1. **Veriff KYC Verification Process:** ProsperaVest employs Sumsub (Sum and Substance)/Veriff/YouVerify, leading identity verification service, to conduct KYC/KYB/KYT checks on all users. The Veriff process includes the following steps:
a. **Document Verification:** - Users are required to upload a valid government-issued ID, passport, or driver's license. - Veriff utilizes advanced document verification technology to authenticate the submitted documents.
b. **Biometric Verification:** - Users undergo a biometric verification process, including facial recognition and liveness checks. - Veriff's advanced algorithms ensure the person submitting the documents matches the identity in the provided documents.
c. **Database Checks:** - Veriff performs checks against global watchlists, sanctions lists, and databases to identify any potential risks.
d. **Outcome Notification:** - Users receive notifications regarding the outcome of the verification process, ensuring transparency and user awareness.
2. **AML Compliance:** ProsperaVest is committed to complying with Anti-Money Laundering regulations. Our AML compliance includes:
a. **Transaction Monitoring:** - Continuous monitoring of transactions on the platform to detect unusual patterns or large transactions that may indicate money laundering activities.
b. **Risk-Based Approach:** - Implementing a risk-based approach to assess the level of risk associated with each user and transaction.
c. **Reporting:** - Reporting suspicious activities to relevant authorities in accordance with AML regulations.
d. **Employee Training:** - Regular training for our team members to stay updated on AML regulations and best practices.
3. **User Data Protection:**
* ProsperaVest adheres to strict data protection measures to safeguard user information. Data is encrypted, and access is restricted to authorized personnel only.
4. **Compliance Reviews:**
* Periodic reviews of our KYC and AML processes to ensure alignment with regulatory changes and industry best practices.
5. **User Cooperation:**
* Users are expected to cooperate fully during the KYC process and provide accurate information as requested. Failure to comply may result in restricted access to certain platform features.
# đȘ The Naira Stablecoin (eâŠsc)
Source: https://whitepaper.prosperavest.com/ensc/the-naira-stablecoin-engnsc
An Introduction to the Naira stablecoin.
![eNsc, the Naira stablecoin]()
The ENSC represents an innovative convergence of blockchain technology and traditional fiat stability, specifically pegged 1:1 with the Nigerian Naira. In a rapidly evolving financial landscape, ENSC establishes a decentralized medium for secure, transparent, and auditable value exchange while leveraging the stability of a well known accounting unit.
Drawing inspiration from the auditable and cryptographically secured nature of global blockchains, ENSC employs embedded consensus systems to facilitate seamless transactions in less volatile currencies and assets. This whitepaper introduces a robust method to uphold a consistent one to one reserve ratio between the ENSC and its real world counterpart, the Nigerian Naira.
Our approach offers distinct benefits in comparison to other fiat pegged cryptocurrencies:
* ENSC operates on the Lisk Chain and demonstrates interoperability on EVM compatible blockchains such as Ethereum and many more with ongoing efforts to expand compatibility to other chains.
* ENSC functions similarly to other stablecoins, allowing users to engage in peer to peer transactions within a decentralized, cryptographically secure, and pseudo anonymous environment
* ENSC seamlessly integrates with merchants, exchanges, and wallets, providing a level of accessibility comparable to other cryptocurrencies.
* ENSC inherits key attributes from the blockchain layer protocols on which it is deployed, encompassing an ENSC converter, transparency, accountability, and robust security measures.
* ProsperaVest ESG LTD utilizes a straightforward yet robust method to conduct Proof of Reserves, effectively minimizing counterparty risk in our role as custodians of the reserve assets.
* ENSC issuance or redemption encounters no pricing or liquidity constraints, enabling users to convert swiftly and at minimal fees.
* ENSC is shielded from market risks like Black Swan events and liquidity crunches, as reserves are upheld in a stable one to one ratio, independent of market forces.
* The one to one backing mechanism of ENSC is more accessible for non-technical users, offering simplicity compared to the complexities of collateralization techniques and derivative strategies.
At all times, the fiat currency balance in our reserves, housed and held by our partner banks, will be at least equal to the number of ENSC in circulation. This uncomplicated setup robustly facilitates a dependable Proof of Reserves process, crucial for maintaining the price parity between circulating ENSC and the underlying Nigerian Naira held in reserves.
ENSC can be acquired through [https://app.prosperavest.com](https://app.prosperavest.com) or supported exchanges that facilitate ENSC deposits and withdrawals. Users can also conduct transactions and store ENSC using Web3 wallets, such as Trust Wallet, MetaMask etc. We welcome other exchanges, wallets, and merchants to explore integration opportunities for ENSC as a substitute for traditional fiat payment methods.
# Implementation Risk: Trust Dependency
Source: https://whitepaper.prosperavest.com/ensc/the-naira-stablecoin-engnsc/implementation-risk-trust-dependency
While ENSC operates within the framework of a fully trustless cryptocurrency system, there exists a certain level of trust dependency that users must acknowledge. The primary risk lies in the necessity for users to trust ProsperaVest ESG LTD and its corresponding legacy banking institution as the custodians of the reserve assets backing the ENSC. Here are the key points regarding this trust dependency:
1. Custodian Role and Counterparty risk:
* Users rely on ProsperaVest ESG LTD to act as the custodian of the Naira reserves. This introduces a centralized element in the ENSC ecosystem, deviating from the complete decentralization principle inherent in many cryptocurrencies.
* Users face counterparty risk by depending on ProsperaVest ESG LTD and the legacy banking institution to maintain the necessary reserves. Any failure or breach in their custodial responsibilities could impact the stability of the ENSC peg.
* We could go bankrupt: In this case, the business entity ProsperaVest ESG Limited would go bankrupt but client funds would be safe, and subsequently, all ENSC will remain redeemable. Most security breaches on blockchain businesses have targeted cryptocurrencies rather than bank accounts. Since all ENSC exist on the blockchain they can be stored by individuals directly through securing their own private keys.
* We could abscond with the reserve assets : To safeguard against the potential risk of misappropriation, all Naira accounts, containing the reserve assets, are held in trust by reputable partner banks. Additionally, the regulatory oversight from the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) ensures stringent governance and compliance standards on all Directors of ProsperaVest ESG Ltd, adding an extra layer of accountability and reducing the likelihood of any illicit activities involving reserve assets.
2. Trust in Legacy Banking Institution:
* The reserve assets are held in legacy banking institutions, requiring users to place trust in the security, stability, and compliance of these traditional financial entities. This trust extends beyond the blockchain environment.
* Our banks could go insolvent: The risk of partner banks facing insolvency is mitigated by the stringent regulatory policies established by the Central Bank of Nigeria, ensuring financial stability and minimizing the likelihood of bankruptcy. Additionally, all deposits in our partner banks are safeguarded by the Nigeria Deposit Insurance Corporation (NDIC), providing comprehensive insurance coverage and ensuring the protection of customers' funds in the event of any unforeseen financial challenges.
* Our banks could freeze or confiscate funds: The risk of funds being frozen or confiscated by banks is mitigated by the awareness of our partner banks regarding the cryptocurrency nature of our business. Additionally, the Virtual Asset Regulatory Framework established by the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) serves as a comprehensive guide, ensuring a secure and regulated relationship with our partner banks, thereby reducing the likelihood of any unjustified interference with our funds.
3. Mitigation Measures:
* While efforts are made to implement a straightforward Proof of Reserve process, the fact remains that users are reliant on the effectiveness of these measures to mitigate risks. The custodian's role becomes crucial in ensuring the security and transparency of the ENSC reserves.
* We also ensure a stringent adherence to the KYC/AML processes as stated in the SECâs Virtual Assets Regulatory Framework
4. Potential Future Innovations: Acknowledging this trust dependency, future innovations may aim to eliminate risks associated with custodial roles, providing a more decentralized and trustless solution for asset-backed cryptocurrencies.
It's essential for users and stakeholders to be aware of this trust dependency and carefully evaluate the custodial arrangements when engaging with ENSC. ProsperaVest ESG LTD continues to explore avenues for enhancing decentralization while maintaining the stability and security of the ENSC ecosystem.
# Technology Stack and Processes
Source: https://whitepaper.prosperavest.com/ensc/the-naira-stablecoin-engnsc/technology-stack-and-processes
The robust infrastructure and systematic procedures underpinning the Naira Stablecoin (ENSC).
Every ENSC released into circulation will be supported in a one to one ratio by an equivalent amount of Nigerian Naira reserves. These reserves are securely stored and held in trust by ProsperaVest ESG LTD in collaboration with its partner banks based in Nigeria. In our role as the custodian, we act as a trusted third party overseeing the backing asset. To mitigate risk, we've implemented a straightforward approach that simplifies both fiat and crypto audits, enhancing the security, provability, and transparency of these processes.
**ENSC Technology Stack**:
The ENSC technology stack comprises three layers with various features, offering a comprehensive understanding best depicted through a visual diagram.
![ENSC tech stack]()
Let's delve into an overview of each layer:
1\. The Blockchain: The first layer is the Lisk Chain. The ENSC transactional ledger is embedded on the Lisk chain as metadata via the embedded consensus system.
2\) The second layer is the Imbedded Consensus Layer that can:
a) Mint (create) and burn (destroy) ENSC token represented as metadata embedded on Lisk Chain and other interoperable blockchains.
b) Track and report the circulation ENSC of via blockchain explorers such as Lisk Blockscout.
c) Enable users to transact and store ENSC in a:
i) peer to peer, pseudo anonymous, cryptographically secure environment.
ii) opensource, browser based, encrypted web 3 wallet:
iii) multi signature and offline cold storage supporting system
d) the consensus layer also implements security architectures such as ZKP (Zero Knowledge Proof), Reentrancy Guard, Openzeppelin etc.
e) the consensus layer also provides a cross-chain bridge for ENSC that facilitates ZKP in a cost-effective manner
3\) The third layer is ProsperaVest ESG LTD, our business entity primarily responsible for:
a) Accepting fiat deposits and issuing the corresponding ENSC
b) Sending fiat withdrawals and revoking the corresponding ENSC
c) Custody of the fiat reserves that back all ENSC in circulation
d) Publicly reporting Proof of Reserves and other audit results
e) Initiating and managing integrations with wallets, exchanges, and merchants
# Flow of Funds
Source: https://whitepaper.prosperavest.com/ensc/the-naira-stablecoin-engnsc/technology-stack-and-processes/flow-of-funds
The life cycle of ENSC involves five general steps, and it encompasses various other applications. E.g. as a debt token on [https://app.prosperavest.com](https://app.prosperavest.com)
Step 1: User deposits Fiat Naira (NGN) into account(s) held in trust by partner banks through third party payment processor (Flutterwave).
Step 2: ProsperaVest ESG LTD generates and credits the userâs EVM based wallets with ENSC. ENSC enters circulation. Amount of fiat Naira deposited by user = amount of ENSC issued to user (i.e. 10k Naira deposited = 10k ENSC issued)
Step 3: Users transact with ENSC. The user can transfer, exchange, and store ENSC via a p2p, opensource, pseudo anonymous, Blockchain based platform.
Step 4: The user deposits ENSC with ProsperaVest ESG Limited for redemption into fiat currency.
Step 5: ProsperaVest ESG Limited destroys the ENSC and sends fiat currency to the userâs bank account via third party payment processor (Flutterwave)
Users can obtain ENSC outside of the aforementioned process via an exchange or another individual. Once ENSC enters circulation it can be traded freely between any business or individual. For example, users can purchase ENSC from listed exchanges soon. The main concept to be conveyed by the ENSC Flow of Funds diagram is that ProsperaVest ESG Limited is the only party who can issue ENSC into circulation (mint them) or take them out of circulation (burn them). This is the main process by which the system solvency is maintained.
# Proof of Reserve Process
Source: https://whitepaper.prosperavest.com/ensc/the-naira-stablecoin-engnsc/technology-stack-and-processes/proof-of-reserve-process
The Proof of Reserve process for ENSC ensures transparency, accountability, and the stability of the peg between the digital asset and the underlying Nigerian Naira reserves. Here's an overview of the process:
1. Reserve Verification: External auditors will regularly verify the reserves of the Nigerian Naira held in trust by partner banks. This verification is conducted through a combination of on-chain and off-chain mechanisms.
2. Smart Contract Interaction: smart contracts on Lisk interact with the ENSC tokens. These smart contracts play a crucial role in ensuring that the issuance and burning of ENSC tokens are tied to the equivalent amount of Nigerian Naira reserves.
3. Token Issuance: When new ENSC tokens are issued into circulation, we will ensure that the corresponding amount of Naira is held in reserve. This one-to-one backing is a fundamental principle of ENSC stability.
4. Public Transparency: We will publish the results of the Proof of Reserve process on our website's transparency page from time to time. This ensures transparency and allows stakeholders, including token holders, to independently verify the reserve status.
5. Custodian Role: As the custodian of the backing asset (Nigerian Naira), ProsperaVest ESG LTD maintains a trusted role, responsible for safeguarding the reserves. This custodian role adds an extra layer of security to the Proof of Reserve process.
6. Risk Mitigation: We are implementing a straightforward and effective approach to risk mitigation, reducing the complexity of audits for both fiat and crypto components. This approach enhances the security, provability, and transparency of the entire Proof of Reserve process.
The Proof of Reserve process establishes confidence in the stability and reliability of ENSC, ensuring that the digital asset remains securely pegged to its underlying reserves. Here is a detail of our proof of reserve operations:
1. ProsperaVest ESG LTD issues ENSC via Lisk. All minted, redeemed and existing ENSC including transactional history are publicly auditable via blockchain explorers
* Let the total number of ENSC minted be denoted as ENSCminted
* Let the total number of ENSC redeemed be denoted as ENSCredeem
* Let the total number of ENSC in circulation at any time be denoted as Total ENSC
* Total ENSC = ENSCminted - ENSCredeem
2. ProsperaVest ESG LTD has an account housed in partner banks that will receive and send fiat Naira to users who purchase/redeem ENSC directly with us.
* Let the total amount deposited into account be denoted as NairaDepo
* Let the total amount withdrawn from this account be denoted as NairaWithd.
* Let the fiat Naira balance of the account be denoted as Total Naira.
* Total Naira = NairaDepo â NairaWithd.
3. Each ENSC issued will be backed by the equivalent amount of currency unit (one ENSC equals one Naira). By combining the above crypto and fiat accounting processes, we conclude the âSolvency Equationâ for the ENSC System.
* The Solvency Equation is simply Total ENSC = Total Naira.
* Every ENSC minted or redeemed, as publicly recorded by the blockchain explorers will correspond to a deposit or withdrawal of funds from the bank account.
* The provability of Total ENSC relies on the blockchain as discussed previously.
* The provability of Total Naira will rely on several processes:
* We publish the bank account balance on our websiteâs Transparency page.
* Professional auditors will regularly verify, sign, and publish our underlying bank balance and financial transfer statement.
# đ€ Welcome to PROSPERAVEST ESG
Source: https://whitepaper.prosperavest.com/index
PROSPERAVEST PRODUCT WHITEPAPER
## ABOUT US
Prosperavest ESG Ltd provides onâchain access to tokenized fixed income real world assets such as Nigerian Treasury bills, enabling crypto investors, DAO treasury managers, and institutional buyers to diversify liquidity into low risk, highly liquid investments.
We specialize in tokenizing government backed securities and integrating [eNsc](/ensc/the-naira-stablecoin-engnsc), a stablecoin pegged 1:1 to the Nigerian Naira (NGN), to facilitate seamless transactions and settlements within our ecosystem.
As part of our endâtoâend tokenization infrastructure, Prosperavest ESG Ltd partners with licensed financial entities and fund managers to ensure compliance and secure custody of underlying assets with regulated thirdâparty custodians.
# Mission
Source: https://whitepaper.prosperavest.com/mission
Prosperavest ESG mission statement
Prosperavest ESGâs mission is to bridge real-world assets with DeFi, enabling seamless access to secure, yield generating investments on chain. We believe blockchain powered finance will democratize access to fixed income assets, fostering a more inclusive, transparent, and efficient global economy.
Prosperavestâs mission is to bridge Nigerian real world assets with decentralized finance (DeFi) by unlocking billions in value through tokenized fixed income investments like Nigerian Treasury Bills. Anchored by the [eNsc](/ensc/the-naira-stablecoin-engnsc) stablecoin, we empower crypto investors, DAO treasury managers, and institutional buyers to access low risk, high liquidity opportunities, fostering a more inclusive and dynamic economy across Nigeria and beyond.