asgayapedia

Research Documents

📖 Unfamiliar terms? See the glossary for definitions.

Research documents supporting Asgaya’s design decisions.

---

About This Directory

Research documents are numbered sequentially (RS###) and represent exploratory work, API testing, market analysis, and technical feasibility studies conducted during Asgaya’s development.

Document numbering: RSxxx (Research Study #xxx)

---

Important Historical Context

Architecture Pivot (May 9, 2026): Asgaya pivoted from an escrow-based model to a covenant-based model for MiCA compliance (avoiding CASP licensing).

What this means for research docs:

Pre-Pivot Documents (RS016-RS045)

Documents created before May 9, 2026 may reference concepts from the old escrow architecture:

• Liquidity Providers (LPs) instead of BCH Sellers
• Escrow settlement instead of covenants
• 1/3 fee splits (sender, merchant, LP) instead of 2-way splits (BCH seller 0.5%, merchant 0.5%)
• Different state machine flows

These documents are retained for historical reference and to show the research that informed later decisions, but may not accurately reflect current architecture.

Post-Pivot Documents (RS047+)

Documents from May 2026 onward reflect the current covenant architecture:

• BCH Sellers (not LPs)
• Covenant + volatility buffers (107%)
• EUR-denominated cash buy orders, BCH settlement
• 24-hour timeout cascade
• 2-way fee split

---

Key Research Documents (Current Architecture)

Exchange Rates & Markets

• RS047: DolarAPI Venezuela Rates — Parallel market VES rates from DolarAPI. Used for EUR↔VES conversion in current architecture.
• RS036: Kraken Ticker API — BCH/EUR rates from Kraken (used in fee calculations)
• RS041: Cross-Corridor Exchange Rates — How exchange rates work across corridors (still relevant)

Payment Rails

• RS042: Bizum Concept Field Constraints — Testing that revealed Bizum concept field restrictions (critical for notification matching)

Future Tech

• RS053: MUSD — Research on MUSD stablecoin for future integration
• RS054: CashToken Swaps — CashTokens as EUR commitment mechanism

---

Historical Documents (Pre-Pivot)

The following documents describe the old escrow architecture and are retained for historical reference:

• RS016: EUR/BCH Exchanges — Analysis of DEX options (informed decision to use Kraken)
• RS017: Kraken Overview — Kraken exchange research
• RS018: Kraken Setup — Kraken account setup (escrow operator context)
• RS019: Kraken Query — Kraken API testing
• RS044: Kraken Trading/Withdrawal — Automated trading research (escrow model)
• RS045: Kraken Complete Fee Analysis — Fee structure (escrow model)

Why kept? These documents show the research process and constraints that informed the eventual covenant architecture.

---

Other Research

• RS010: Honduras — Early corridor research (archived)

---

How to Read Research Docs

1. Check the date — Documents from before May 9, 2026 may reference old architecture
2. Look for terminology — “LP” = old, “BCH Seller” = current; “escrow” = old, “covenant” = current
3. Cross-reference — Most research informed design decisions documented in Why This Design?

---

Contributing Research

New research documents should:

1. Use next sequential number (RS066, RS067, etc.)
2. Include date and author
3. Reference current covenant architecture (payment-first, H€/HAu, 7-day contracts)
4. Link to relevant documentation in Why This Design? or Unknowns

---

Research is iterative. These documents show the path to the current design, including dead ends and pivots.

---

Navigation

🏠 Home

📖 Glossary

In this section:

• Research Summaries - Research Summaries

Related sections: Unknowns · Why This Design?

This site is open source. Improve this page.