Value Distribution

RWA tokenized vessels generate revenue through their commercial maritime operations, based on booking rates and volume, then at the end of their operations, via possible capital gains on terminal value realization.

These revenues are then distributed according to a waterfall, along the following lines:

1. Maritime operations: crew, fees, taxes, fuel, maintenance & overhaul

2. Digital operations: ecosystem contributions to Ethra protocol. As active participants to Ethra ecosystem, benefiting from the exposure, and SHIP grants paid out by the protocol treasury, vessels subject to RWA issuances pay back instalments to the protocol treasury.

3. Receivables financing, optionally RWA lenders

4. Senior financing, optionally RWA lenders

5. Junior financing, optionally RWA lenders

6. Equity, optionally RWA lenders

Beneficiaries of items 3 to 6, can opt for payment in SHIP tokens. The latter are funded by a combination of SHIP grants received from the treasury, and possible buybacks as needed.