End to End User Journeys
The Ethra solution supports two distinct user journeys with clear boundaries. The first is the ecosystem participation path enabled by the SHIP token. The second is the investment path enabled by vessel-backed RWA products issued through an established platform. These journeys may overlap at the user level, but they remain structurally separate in rights, processes, and expected outcomes.
Ecosystem Participant Journey (SHIP Holder)
A user enters the ecosystem by acquiring SHIP through supported markets, or earning SHIP through specific actions. Holding SHIP provides access to the ecosystem layer..
The typical lifecycle is:
Obtain SHIP and hold in a self-custodied wallet.
Hold and stake SHIP to activate eligibility for governance and access privileges.
Participate in votes within the defined governance scope.
Access token-gated benefits based on staking tier and commitment duration.
Monitor ecosystem activity through on-chain proofs such as staking status, vote outcomes, and token supply actions.
This journey is designed to be open-access, transparent, and driven by on-chain utility rather than investment eligibility.
RWA Investor Journey (Vessel-Backed RWA Holder)
A user enters the investment layer through the RWA platform. This path is governed by the platform’s onboarding and eligibility rules and is structured as a dedicated investment product lifecycle.
The typical lifecycle is:
Complete onboarding and eligibility verification via the platform.
Subscribe to a vessel-backed RWA issuance under defined terms.
Hold the RWA instrument within the platform-supported custody model.
Receive periodic performance reporting and, when applicable, cash returns funded by vessel chartering cash flows, distributed under the product terms (fees, reserves, and waterfall).
If secondary transfers are available, execute transfers under platform rules and compliance constraints.
This journey is designed to meet investment-grade requirements while providing exposure to vessel-backed performance under a controlled framework.
Overlap and Optional Bridges
Some participants may engage in both journeys. For example, verified RWA holders may be granted ecosystem privileges such as access tiers, participation in certain community programs, or SHIP rewards. These benefits are implemented as eligibility-based perks and do not modify the legal or economic nature of the RWA product.
Conversely, SHIP holders do not gain investment exposure or investor status through SHIP ownership alone. The investment layer remains platform-led and eligibility-driven regardless of ecosystem participation.
This separation ensures clarity for users, preserves compliance constraints, and keeps ecosystem participation scalable.
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