Opening

new markets
to the world
Brickken is creating a dApp
(decentralized application) which
provides the tools needed for
individuals and businesses to issue
their own Security Tokens, anywhere
in the world using state-of-the-art
blockchain technology.

Brickken’s platform provides a user

interface that is a best-in-class
experience and easy to use.

The platform opens opportunities to

individuals and businesses looking for
alternative methods of raising funding,
through tokenization.

2
 Abstract

A cryptocurrency is a digital asset designed as an alternative medium-of-exchange and store-

of-value that uses cryptography to secure transactions, control the creation of additional
units, and to verify the transfer of assets and value.

Cryptocurrencies are predominantly decentralized in nature. Transactions are validated by

network nodes and recorded in a public data structure in the form of a distributed ledger
commonly known as a Blockchain.

The first, (and most common) cryptocurrency created was Bitcoin. Bitcoin was created in
2008 in the aftermath of the global subprime financial crisis of 20071, by an anonymous
person (or group) called Satoshi Nakamoto2. The inevitable failure of subprime lending
markets caused the cataclysmic failure of global financial systems. This catalyst created the
perfect storm in which a digital asset would thrive.

The core purpose behind the technology was to create a censorship-resistant, decentralised
process of transferring value which is recorded on an immutable, distributed ledger to take
back custody of one’s finances, removing the reliance on intermediaries such as depository
and central banks (the same institutions who were ultimately responsible for the collapse of
the global financial system. The effects of which are still felt around the world today).

Over the last 13 years, the Cryptoverse has grown exponentially. Mass adoption of
Blockchain technology seems continually more inevitable with the aggressive pace of
innovation, mammoth increase in real-world application, increased accessibility, and over a
decade of battle-testing.

1. Subprime Financial Crisis: Today there are thousands of cryptocurrencies in existence. The second most prominent
[Link]
crisis_of_2007%E2%80%932008 is Ethereum. Ethereum pioneered the next stage in the evolution of the Cryptoverse,
successfully implementing the ‘Smart Contract’ on its native Blockchain. Smart contracts
2. Satoshi Nakamoto:
[Link] were first proposed in 1996 by computer scientist Nick Szabo, famous for inventing a virtual
Nakamoto currency a full decade before the invention of Bitcoin. In his original essay published in 1996
3. Smart Contracts: named “Smart Contracts: Building Blocks for Digital Markets”3 Szabo described a Smart
[Link] Contract as “a set of promises, specified in digital form, including protocols within which the
InformationInSpeech/CDROM/Literature/
LOTwinterschool2006/[Link]/ parties perform on these promises.” Since then, Smart Contracts have come to be known as
smart_contracts_2.html one of the most crucial computer systems innovations in existence. For his contributions to
the field, Szabo is known as the Father of Smart Contracts.

Smart contracts reinvented what we perceived to be the theoretical limit of cryptography,

subsequently revolutionising Blockchain technology.

Brickken seeks to further improve smart-contract functionality and innovate, driven by its
core principles such as solving the real-world issue of accessibility to illiquid markets for
individuals and businesses from any walk of life.

Brickken’s vision is to create a self-sustained, self-governed, self-funded ecosystem

focused on Security Token Offerings (STOs) which will enable individuals and businesses
to tokenize any asset within their own means, anywhere in the world.

Brickken intends to issue its native utility token (“BKN”) through an Initial DEX Offering (IDO)
on the UniSwap decentralized exchange. The aim is to provide decentralized tokenization
services to our community. This paper is designed to experiment with new and innovative
ideas, by combining features implemented in smart contracts and other configurations at
the protocol level that will be designed by Brickken’s engineering team to help us reach our
objectives.

Brickken’s decentralized application (dApp), we believe will be the first of its kind. We aim to
standardize the process by which asset tokenization and tokenization services across the
globe are executed, and facilitate asset tokenization through Brickken’s dApp.

3
Disclaimer

This document is for educational and experimental purposes only.

This document is provided by the Brickken team and does not in any way represent
technical, legal, compliance, regulatory, financial or investment advice.

Due to various risks and uncertainties, including but not limited to, technological
developments and industry conditions, the actual performance and development of items
described herein may differ materially from those reflected or contemplated herein.

Brickken does not accept any obligation to provide recipients with any additional
information, or to update, expand, revise and/or amend the information herein, or to
correct any inaccuracies which may become apparent. Although all information and views
expressed herein are provided in good faith, estimates and assumptions made by Brickken’s
team, make no representation or warranty (expressed or implied) as to the accuracy or
completeness of the information herein, and no assurance is provided that actual results
will be consistent with the descriptions and projections herein.

This document is not a prospectus and does not constitute or form any part of any offer
or invitation to subscribe for, underwrite or purchase the “BKN” utility token or, nor shall it
form the basis of, or be relied upon, in any way, in connection with any decision relating to
the utility token “BKN” issued by Brickken.

The “BKN” utility token is needed to be able to use the decentralized application (dApp) as
this document explains. The sale and transfer of the “BKN” utility tokens will be performed
by Brickken. No person is bound to enter any contract or binding legal commitment in
relation to the sale and purchase of the “BKN” utility tokens. Any agreement between the
token provider and an investor/s in relation to the sale and purchase of “BKN” utility tokens
is to be governed solely by a separate set of documents setting out the terms and conditions
of such agreement.

In the event of any inconsistencies between what is established in this whitepaper, and the
terms and conditions of the purchase and sale of “BKN”, the terms and conditions of the
relevant purchase and sale agreement shall supersede the whitepaper. Brickken reserves
the right to decline the sale of BKN during its private placement of utility tokens to any
individual or business in the event of a breach of its core principles.

Regulatory authorities have not examined the information included in this paper; thus,
no approval has been granted toward the information set out on this whitepaper in any
jurisdiction.

Advances in innovation related to quantum computing and smart contract exploitation may
present risks to Brickken.

There is no guarantee that Brickken will deliver on the content established in this document
or achieve its objectives. Brickken’s proposed decentralized application (dApp) running
on the Ethereum Blockchain may fail, be abandoned, or be delayed for several reasons,
including but not limited to lack of funding, lack of commercial success and other external
factors.

4
Table of Contents

01 Our Values 06

02 Introduction 07

03 The different tokens 08

04 The Issuances 09

05 Purpose 12

06 Innovation 16

07 The Ecosystem 17

08 Architecture 23

09 The dApp and BKN 27

10 The STO Process 28

11 Tokenomics 30

12 Team 34

5
01

Our Values

Autonomy Brickken’s dApp provides the technical functionality needed

to create an STO. This functionality allows any individual or
business from any walk of life to move from ambition to
action and succeed in realizing their project.

Simplicity Brickken’s dApp is being built with emphasis on simplicity,

to make the tokenization process as simple and accessible
as possible.

Compliance Brickken’s dApp will help STO issuers with applicable

legislation in their host State regarding the issuance of
securities and investment management.

Democracy Brickken’s dApp paves the way to open illiquid markets to the
world, creating a solution to democratize fundraising and
bridge the gap between legacy finance, retail investing and
the decentralized Cryptoverse resulting in new investment
opportunities.

6
 02

Introduction
Brickken was founded in January 2020, and quickly became a leading voice in the world of
tokenization for its avant-garde use of blockchain technology for the tokenization of real
assets.

Asset tokenization is the process by which any real-world asset, tangible, or intangible,
is digitized and then divided into smaller pieces that take the form of tokens. Each token
represents a proportional part of the digitized asset, offering the owner of the token, the
corresponding economic rights.

The tokenization market is booming and has established itself as a real alternative for
individuals and businesses looking to raise financing. Historically, investors are used to a
traditional marketplace in which there is almost zero tolerance for small to medium sized
investors when it comes to illiquid assets. This is a marketplace where institutional money
rules with an iron fist.

In addition to the tokenization market, there is a complementary market aimed at the

development of circular economies, for which more and more companies, both public and
private, want to use asset tokenization tools to contribute to their fight for sustainability,
utilizing native tokens as a direct communication channel, which enables holders to engage
in the governance of the protocol by voting, rewarding positivity and interacting as member
of a community.

Brickken’s legacy operating model was that of a service provider which utilized a centralized
blockchain, where clients would use Brickken’s platform and thus, Brickken was required
to adhere to the host state legal, and regulatory framework for the provision of a security
token issuance. A very difficult task given the geographical disparity of projects and differing
regulatory frameworks from jurisdiction to jurisdiction.

This experience led Brickken’s management to decide to change the operating model from
centralized blockchain, to a frictionless, decentralized model, where third parties could
take advantage of Brickken’s technology in a secure and legally compliant manner, whilst
enjoying all the benefits associated with the use of security token offerings as a financing
methodology.

This whitepaper explains the reason why it is pivoting from centralized, to a decentralized
operating model.

Let us begin by discussing the different types of tokens and forms of issuance.

7
03

The different tokens

Generally, there are three types of tokens, each with their own specific use case and legal
framework. Depending on how liquid the technology is, a specific token can sometimes
have additional utility, and in some cases, have hybrid characteristics where it performs two
or more functions.

UTILITY TOKEN SECURITY TOKEN PAYMENT TOKEN

DESCRIPTION A token that can be A security token Used as an alternative

exchanged for is a digital form of a medium of exchange.
products and services. traditional security,
such as an
ownership position
in a company, bonds,
and/or other
ownership rights.

REGULATION In most countries, AML and Securities Dependent on

host state regulation Legislation binds from whether the token is
is applied. This is on the country where the used as legal tender.
the basis that it is issuance of securities
used to exchange for is applied/created.
goods and services.

KYC REQUIRED Currently not required, Imperative. Not required.

TO PURCHASE but it is foreseen to be
changed.

SECONDARY Possibility of Security laws Possibility of being

MARKET being exchanged are applied, thus exchanged in a utility
in unregulated constraints as to how or security token
secondary markets, it can be exchanged in secondary market.
or in exchanges and secondary markets.
markets with specific
licenses.

ISSUANCE ICO/IEO/IDO. STO. Dependant on

FORM genesis. Whether
issued, as an utility
token or a security
token.

8
 04

The Issuances

Utility tokens
This section focuses on the issuance of utility and security tokens, which differ in how they
are issued, due to underlying legal requirements.

A utility token provides access to a blockchain protocol, dApp, and/or can be

exchanged for another type of product or service. These methodologies can differ
depending on the accessibility to the public.

I. ICO (Initial Coin Offering):

An initial coin offering (ICO)4 is the cryptocurrency industry’s equivalent to an initial public
offering (IPO). Where the purchase and sale of tokens is completed directly between issuer
and buyer. A company looking to raise money to create a new coin, app, or service launches
an ICO as a way to raise funds. Interested investors can buy into the offering and receive
a new cryptocurrency token issued by the company. This token may have some utility in
using the product or service the company is offering, or it may just represent a stake in the
company or project.

• ICOs also retain at least two important structural differences from IPOs. First,
ICOs are largely unregulated, meaning that government organizations like the
Securities and Exchange Commission (SEC)5 do not oversee them. Secondly, due
to their decentralization and lack of regulation, ICOs are much freer in terms of
structure than IPOs.

• ICOs can be structured in a variety of ways. In some cases, a company sets a

specific goal or limit for its funding, which means that each token sold in the ICO
has a pre-set price and that the total token supply is static. In other cases, there
is a static supply of ICO tokens but a dynamic funding goal—this means that the
distribution of tokens to investors will be dependent upon the funds received (i.e.
the more total funds received in the ICO, the higher the overall token price).

• Still, others have a dynamic token supply which is determined according to the
amount of funding received. In these cases, the price of a token is static, but there
is no limit to the number of total tokens (save for parameters like ICO length).

II. Initial Exchange Offering (IEO):

When issued via a centralized exchange, which places the tokens for sale for buyers to
acquire, this is known as an Initial Exchange Offering (IEO). IEOs are a recent development
4
ICO: in the rapidly evolving digital asset space. IEOs are similar to ICOs in that they are initial
[Link]
investing/general-resources/news-alerts/alerts-
offerings of digital assets (e.g., coins or tokens) to raise capital. However, IEOs are touted
bulletins/investor-bulletins-16 as an innovation on ICOs because they are offered directly by online trading platforms on
behalf of companies—usually for a fee—to provide immediate trading opportunities for
5
SEC: digital assets.
[Link]

9
III. Initial Dex Offering (IDO):

If the public issuance is created through a decentralized exchange, the issuer has no control
on the result of the issuance, this is therefore classified as an Initial Dex (decentralized
exchange) Offering (IDO).

• An IDO is a new type of decentralized and permissionless Initial Coin Offering,

which opens up a new method of fundraising in the Cryptoverse.

• This type of decentralized asset depends on liquidity pools where traders and
investors can swap tokens such as USDC/ETH and USDC/BKN.

• IDOs are generally referred to as the successor to other funding models (above).
Offering better liquidity at all price levels due to its mechanics.

• Unlike other fundraising methods, IDOs are generally considered a fair way
to launch a project by avoiding issues such as pre-mines, which is an issuance
system that favors project founders and community members.

Brickken has decided to issue the utility token via an IDO as it meets our fundamental values
which include being peer-to-peer, fair, and decentralized in nature.

Security tokens
Before understanding what a security token is, we must first understand the characteristics
of a security. A security token is a representation of a security, which is a fungible,
negotiable financial instrument that holds characteristics such as monetary value.

There are primarily three types of securities:

1. An equity security represents ownership held by shareholders in a legal entity

(a company, partnership, or trust), realized in the form of share capital, which
includes shares of both common and preferred stock.

2. A debt security represents borrowed money that must be repaid. Characteristics

are size, yield (interest rate), maturity and renewal (redemption) date.

3. Hybrid securities, combine characteristics of both debt and equity securities, e.g.,
equity warrants, convertible bonds, among others.

Securities have been in existence for hundreds of years. In the last century, these were
first issued in paper format, then more recently, digitally. The latest innovation can be
represented in the form of tokens issued on a blockchain.

A Security Token Offering is issued to the public, and since it represents the existence
of securities, it must be compliant with the regulatory and legal framework of
securities in the jurisdiction in which they are issued. For instance, this means that if a
company is issuing security tokens in Germany, the issuance will have to comply with the
same legislation as the issuance of securities in Germany. This complicates matters as not
all countries have a uniformed regulatory framework.

Ultimately, STOs follow the same guidelines as the issuance of any security, and this
makes the issuance of this type of tokens incredibly cumbersome, heavily regulated, with
high barriers to entry due to the know-how needed to perform them from a regulatory,
legislation and technological perspective. Nevertheless, STOs offer unique characteristics
similar to traditional capital markets.

The added benefit of using blockchain technology ensures asset tokenization also retains
the characteristics of the native blockchain. These include immutability, transparency,
auditability, and traceability in a network which is live 24 hours a day, 7 days a week, 365
days a year.

10
 Generally speaking, a token is basically the representation of something else; every token
represents a proportional part of a digitized asset. This also means that the owner of the
token possesses the associated ownership rights and/or other types of economic rights
established by the individual company performing the asset tokenization.

The procedure which determines whether an issuance meets the requirements of securities
law generally refers to the SEC’s (Securities & Exchange Commision) Howey Test6. Whilst
the Howey analysis is specific to US legislation, it is a globally recognized standard for
determining whether a transaction qualifies as an investment contract. A consequence of
qualifying as a security, means that underlying asset must to adhere to the Securities Act of
19337 and the Securities Exchange Act of 19348 (if you were an asset domiciled in the US).
Under the Howey Test, an investment contract exists if there is an

“investment of money in a common enterprise with a reasonable

expectation of profits to be derived from the efforts of others”.

In summary:

1. An investment of money.
6
Howey Analysis:
2. In a common enterprise.
[Link] 3. With the expectation of profit.
investment-contract-analysis-digital-assets
4. To be derived from the efforts of others.
7
Securities Act 33’:
[Link]
[Link]
Brickken intends to provide the platform that will allow individuals and businesses
to facilitate STO’s whilst being able to comply with local laws and regulations in the
Securities Exchange Act 34’:
jurisdiction where the underlying asset is domiciled. An individual or business will have
8

[Link]
[Link] to comply with said regulations in order to utilise the platform.

11
 05

Purpose
Brickken’s original mantra was that we would ‘tokenize the world’. We quickly realized we
were approaching the accessibility of illiquid markets from the wrong perspective.

Brickken’s decentralized technology provides the platform and tools needed for the
world to tokenize itself.

This whitepaper is Brickken’s declaration of our intentions to create an ecosystem full of

opportunities, where endless investments are accessible to everyone with minimal capital
expenditure and fractional ownership.

Our innovation is not limited to the robustness of blockchain technology, but also the
underlying legal engineering which governs how the dApp performs.

Brickken believes the world will be tokenized. Our mission is to supply the technology
and know-how for it to gain adoption organically.

The opportunity
The reason Brickken exists is to bridge the barriers to entry one must overcome when
facing the real-world issue of tokenizing a real-world asset. We intend to remove the
issues of friction, intermediaries, and general barriers to entry. We hope individuals and
businesses can rely on STOs as an alternative financing scheme, and investors can engage
in tokenization to obtain returns.

The problem
In addition to the incumbent regulation associated with Securities, as a retail investor/
businesses perspective, several inefficiencies can be improved:

1. The average investor usually transfers his/her savings to an intermediary (asset manager,
broker, etc.) who will advise and/or arrange investments. The investor’s portfolio is
subject to bias and thus may invest in a portfolio which may not be appropriate.

2. Investing in traditional equity markets is a complex process where a limited group of

experts dominate the market, making it extremely risky for retail investors. Retail
investors generally have access to markets provided you reside in a developed economy
which allows market access.

3. Other illiquid asset classes such as real estate, renewable energy, transportation &
infrastructure, hospitality, fine wine and art, and early-stage technology investing are
not easily accessible to retail investors and small businesses without having the nominal
value of the underlying asset ready to deploy.

4. These types of markets are rigid and illiquid: one buyer, one seller.

5. Investors who keep their savings in bank accounts typically see the value of their savings
diminished due to aggressive monetary policies and inflation which results in large scale
devaluation and debasement of currencies due to widespread, unhindered monetary
stimulus. The combination of these factors equates to lower purchase power of the
currencies over time. Furthermore, deposits stored in bank accounts currently provide
close to 0% interest in most developed countries and in many, negative interest. In
addition to this, banking fees and inflation erode bank deposits over time.

12
 The token economy

According to Deloitte9, tokenization could make the financial industry more accessible,
cheaper, faster, and easier, thereby possibly unlocking trillions of euros in currently illiquid
assets, and vastly increasing market liquidity and depth.

These assets are only available to specialized investors; a situation that leaves extraordinarily
little room for retail investors to access these markets. In other words, investors are only
left with the possibility of investing in equity and/or debt markets or cryptocurrency (which
carries higher volatility and risks).

Real estate is one of the leading examples of a highly illiquid market, with high barriers of
entry. A solution to this problem comes in the form of asset tokenization which provides
diverse investing opportunities due to reducing barriers to entry and providing liquidity
to asset owners. If we consider the European commercial real estate market alone has an
estimated total valuation in the region of over 6,500bn and an estimated annual investment
of 15bn.

In addition to this, globally, we are seeing the early stages of mass adoption of crypto assets
and cryptocurrencies generally;

1. Central banks (Fed, ECB, BIS) are discussing the implementation of Central Banks
of Digital Currencies (“CBDCs”).
2. Retail banks adopting blockchain based solutions.
3. US Treasury to allow blockchain, stablecoins for bank payments.
4. Online finance and investment platforms are thriving:

• Robinhood has experienced a growth in users from 1 million in 2016 to 14

million in 2020; did a succesful IPO with a market cap today of over $40B.
• Coinbase did a successful IPO with a market cap today of over $50 billion USD.
• The crypto exchange Binance has a daily trading volume of above $500 million
per day.
• US crypto exchange Coinbase successfully IPO’d this year.
9
Abridged Deloitte Article:
[Link]
InterimCommittee/2019/S3-
Security Token Offerings and general asset tokenization is a disruptive technology since
[Link] it provides a bilateral solution for retail investors and asset owners. Its adoption is well
underway as a new form of financing, creating new alternative, untapped sources of return.

13
 Tokenization as an enabler
The possibilities of asset tokenization are endless. Any asset can be digitized and divided
into smaller parts, from physical assets such as real estate, to financial instruments such as
debt, equity, bonds, securities, among others.

$500,000$ 500,000 1 tokens = $1

tokens

This allows different business models to be created on top of the tokenization layer, where
there is direct communication between the issuer and the investor.

FINANCING PROFITABILITY LOYALTY CO-OWNERSHIP

Obtaining financing Token holders obtain Incentivizing Partial ownership of

from token holders by the profitability user loyalty and an asset that gives
providing them capital associated with the possibility of adding the right to use it, in
gains in the form of exploitation of the a gamification layer coordination with the
interests dividends. tokenized asset they (exchangeable rest of the co-owners.
have invested in. tokens for products,
discounts, etc.)

SECONDARY TOKEN MARKET

Token holders can exchange their tokens for other tokens, and thus have freedom over when/how
they want to transact: tokens can be exchanged on a peer-to-peer basis and on secondary markets.

WEF:
10
According to the World Economic Forum, by 2022 60% of global GDP will be made up of
[Link]
Responsible_Digital_Transformation.pdf digitized assets10, encompassing a total value of $10 trillion (we believe a conservative
estimation). The asset tokenization market was valued at $1.25 billion in 2019, and is
forecast to reach $5.70 billion in 2027, growing at a compound annual growth rate (“CAGR”)
of 22.54% from 2020 to 2027.

Asset tokenization is one of the main emerging trends in the financial industry and is
expected to achieve sustainable growth in the near future. While traditional commodity
and asset trading businesses have faced a downturn, asset tokenization, coupled with
blockchain technology, is completely revolutionizing the financial industry. At Brickken, we
believe that asset tokenization is an opportunity that is here to stay, and there is no better
time to participate in this disruptive market.

One of the main factors driving the rise of the tokenization industry is the growing
need to grant access to a growing audience of investors with new forms of investment.
Both the technical progress in asset tokenization software, and the increasing demand in
developing countries, are expected to result in higher growth opportunities for the industry
in the coming years. For instance, an untapped area for development is to automate
various asset management processes with the aim of improving liquidity and optimizing
risk management through tokenization.

Currently, North America contributes the most value to the asset tokenization market (35%
in 2018), followed by Europe (24%; where the regions of Germany, France, United Kingdom,
Russia, and Italy stand out, respectively) and the Asian-Pacific (20%).

14
The quintessence of tokenization
The applications of asset tokenization are endless and can be applied to a wide variety of
assets, from real estate to valuable art collections, as well as intangible assets. The most
important tokenization classes are explained in the following table.

Security Token Offering (STO)

REAL ESTATE COLLECTIBLES LITIGATION SECURITIES

A tokenized property By tokenizing Litigation can be Security tokens can

is divided into tokens. works of art, a work tokenized. Token take many different
Each token represents of art’s unique holders can invest in forms. This will include
a proportional part of identity is created, the outcome of a trial, the scope of rights that
the asset, which can history recorded, and thus generate are offered to token
be transferred at any and prominence returns depending holders. Debt, equity,
time. authenticated. New on the outcome. and bonds merely
value can be created, By diversifying the scratch the surface
exploring fundraising risk, the chances for when it comes to what
models and shares pursuing litigation is, asset tokenization.
can be distributed. are increased, and
the pursuit for justice
becomes more
accessible.
NON-
INVESTMENT GOVERNMENTAL
GOODS FUNDS COMPANIES ORGANIZATION

By tokenizing raw The tokenization A company can have Users from anywhere
materials, you can of hedge fund its share capital in the world
provide access to operations opens tokenized. Making can buy tokens
a wider range of the door to investors the governance of the associated with a
people from around and gives small company more liquid NGO or charitable
the world, thereby and medium-sized and transparent, organisation. Tokens
generating greater businesses the and the possibility of could provide the
wealth. If market potential to see the transferring shares means to be included
activity increases, it benefits of a well- now far easier. in the governance of
means more liquidity balanced, diversified, Decision making the protocol voting on
and market depth. and profitable processes can now be important decisions.
Plus, the ability to portfolio, designed performed in a fully Never before have
track and trace goods by professional fund digitized procedure, donors had the ability
geographically and managers. where token holders to govern, track and
their fundamental can vote on a pro-rata trace funds.
properties such as basis relative to their
grade, quality etc. holding.

This wide range of tokenization possibilities provides investors with a wide selection of
investment options at affordable costs, with variable investment returns that allow them
the ability to evaluate the option that best suits their desired risk and returns profiles
without the availability of capital being an obstacle in their decision making. In other words,
tokenization enables maximum diversification across asset classes in a way that is
currently not possible for retail investors.

The retail investor now can decide how to build his/her portfolio of digital assets. This
degree of diversification translates to a more robust portfolio and where capital can be
allocated to as many projects as the investor wishes without capital constraints.

For instance, large funds can diversify their portfolios, allocating a certain amount of capital,
typically millions, to art or real estate (it is well known that art is uncorrelated to traditional
equity markets). However, a retail investor is currently unable to allocate minimal capital
to art; with asset tokenization, a retail investor could invest as little as 100 Euros in art if
desired.

The correct use of technology can improve the efficiency of investing, by focusing on the
customer’s journey, providing real-time information, verifiable, immutable, and transparent
transactions, such as profit and loss, marking-to-market, and transaction history.

Another key advantage of digital assets that we wish to highlight is the simplicity with which
they can be transferred from one portfolio to another, and from one user to another. This
results in optimal liquidity, as you can buy and sell assets from user- to-user (peer-to-peer)
simply taking advantage of digital platforms that connect users and execute transference in
seconds, at minimal/marginal costs and without the need of intermediaries.

15
06

Innovation
Brickken is developing the first ever dApp to service and support STOs, together with a
smart contract protocol.

In our opinion, true democracy and decentralization can only be achieved with the
use of blockchain technology. By being able to provide a product that combines these
two instruments natively, Brickken will be able to fulfil its vision of providing the resources
needed to allow the world to tokenize itself, since issuers of security tokens can create
their own self-sustained and self-executed ecosystems, without the mediation of Brickken
or third parties.

Furthermore, to achieve the level of democracy that is fundamentally a core value for
Brickken, this requires that Brickken is fully transparent. Therefore, the development
code will be stored in a public, open-source repository in Github.

This will allow the code to be audited and verified by third parties and will also encourage
the community of users behind Brickken to help improve the code itself.

Finally, creating a public repository for the source code will allow Brickken to offer an
open API, so third parties can use our smart contracts and back end for integration in any
application or website, without the need to be dependent on the dApp’s front end, and
further allowing new workflows and business models to be created without Brickken acting
as an intermediary.

In a broad sense, Brickken’s dApp will facilitate the following.

• Will allow users to register with emails, recovering lost passwords and logging into the
dashboards.

• Will allow users to buy BKN, Brickken’s utility token.

• Will allow users to create their own STOs using BKN through Brickken’s dApp.

• Will allow users to establish what kind of STO is being issued, debt or equity, its
tokenomics, maturity, term, rights, yield to investors and/or any other source of income,
among others.

• Will allow users to invest into existing STOs using any crypto as means of payment and
allow them to create their own portfolio of STOs.

• Will facilitate the necessary KYC submissions and processes for promoters and investors,
approve and reject, and whitelist investors to transfer STOs related tokens.

• KYC management and investor whitelisting is the key towards fully legal compliant STOs.

The dApp aims to connect the dots between the legal requirements (off-chain services
to handle KYC and personal data) and the decentralized application, while facilitating
the smart contract’s usage through a user-friendly interface.

We will be providing the tools and mechanisms to convert the interactions between the
dApp and the STOs into readable language. This fulfils the purposes of serving as auditable,
legal evidence in any type of procedure or discovery.

Given the simultaneous presence of off-chain and on-chain services in the platform, we
aim to make the user interface both functional (MetaMask wallet) and easy to use. For this,
we will use cloud infrastructure, which is highly scalable, secured by best-in-class security
services and that can operate with no downtime.

16
07

The Ecosystem

Security token offerings

Utilizing a decentralized platform presents two prominent challenges:

1. Technological: it connects the dApp’s back end which runs completely on a public
blockchain through smart contracts. The smart contracts must be flawless to
ensure the protection of issuers of tokens and their investors.

2. Legal/regulatory: the objective is to issue STOs in a compliant manner. Investors

must also pass a KYC process to comply with regulatory and anti-money
laundering regulations.

When dealing with standard securities, the ownership information of the investment
product is recorded in a certificate which can take the form of a simple PDF. With a security
token, the information is stored into an immutable blockchain and instead of a certificate
being issued, a token is.

All countries have very precise and extensive regulations in relation to what securities are,
how they must be issued, who can participate, who can buy them, and what protection
investors are afforded.

The complexity of creating Brickken’s dApp lies in merging both the regulatory
and legal issuance of securities and the technical aspect that allows the issuance
of this type of financial instruments without Brickken acting as an intermediary.
Furthermore, countries may have similar, but ultimately different legislation. This adds a
layer of complexity as the regulatory compliance requirements in one country can greatly
differ from another.

Brickken aims to create a decentralized uniform protocol of security token issuance.

The goal is for any issuer of security tokens to use Brickken’s technology, and for this issuer
to:
1. Comply with local regulations.

2. Comply with the specifications of the issuance itself (the what).

3. Comply with the process of how selling the security tokens may occur and by
whom (the how) and.

4. Allow legally compliant transfer of security tokens to occur in secondary markets

(the where).

Additionally, it is important to consider that while the biggest complexity lies in providing
a solution that is compliant from a regulatory and technological point of view, the financial
structure and tokenomics of the security token issuance must adhere to the end goal of the
project.

In this sense, the dApp must allow the issuer to establish what are the hard and the soft
caps, what is the term or maturity of the loan in case of issuance of debt, or what is the
shareholding allocation in the case of tokenized shares.

17
 Security token smart contracts
Smart contracts will be utilized to create two entities: the ERC2011 BKN utility token and an
STO factory. The latter will deploy ERC20 dedicated STO tokens and escrow contracts for
each STO that is issued through Brickken’s dApp.

11
ERC20: The BKN token will be the utility token associated with the dApp platform. With it, promoters
[Link]
standards/tokens/erc-20/
can issue their own STOs.
Uniswap Pool:
The BKN utility token will be accessible via a Uniswap pool12. Promoters will need to acquire
12

[Link]
pools/ BKN to use the dApp. BKN is then used when performing STO activities.

Brickken aims to achieve the highest level of security, using audited libraries and smart
contracts that follow the best practices to reduce attack vectors and possible exploits.

18
 The BKN utility token
The BKN utility token will have two fundamentally different and well-defined stages: the
pre-issuance and the public sale.

The objective of the pre-issuance stage is to allocate BKN utility tokens to future STO
issuers and different groups of people who trust in Brickken’s vision.

The public sale will be conducted after the pre-issuance period has ended.

At this stage, the BKN utility token will be placed through an IDO conducted in a Uniswap
pool, which will be pre-funded with USDC (a stablecoin)13 and BKN.

Brickken will need to fund the pool to establish a fixed starting price, since automated
market makers, and in particular Uniswap, use the Constant Product Formula14 to establish
the price based on BKN/USDC pair funds deposited in the pool.

In essence, a Constant Product Formula is:

1. x -> amount of BKN present in the pool.

2. y -> amount of USDC present in the pool.

3. k = x*y -> where k is a constant (Constant Product Formula).

4. This means the price of y will be = k/x.

5. The price of x will be k/y at any time solely based on the funds present in the pool.

Naturally, both x and y amounts (BKN and USDC) must be funded. The amount to be
supplied is determined by the target starting price.

The utility tokens ERC20 contract will implement several functional advantages such as:

• Representation of voting powers depending on the pro-rata holding of BKN.

• STO issuers will hold BKN as collateral and there will be a system of reward and
penalties for issuers that fulfil the obligations established in their respective STO
white papers. These rewards will come in the form of staking and slashing.
USC Stablecoin:
13

[Link]
• Compliance with many Ethereum improvement proposals such as EIP712 and
Constant Product Formula:
14
EIP165;
[Link]
overview/how-uniswap-works/
• Brickken will propose the creation of a DAO (Decentralised Autonomous
DAO:
15

[Link] Organisation)15, which will govern decision making on matters such as protocol
autonomous_organization upgrades, allocation of social funds, governance among others.

19
The STO factory
An STOs dedicated token will be generated within an STO factory that will deploy an ERC20
token contract for each new tokenization.

This STO token will utilize whitelist access that will prohibit recipients from receiving tokens
if they are not whitelisted, for example, if they did not pass the KYC process. These will only
be tradable in secondary markets if the buyer has passed the KYC process and the issuer
has accepted the request.

It is of utmost importance that the issuer of the security tokens controls the whole
flow of security tokens from the primary to the secondary market, understanding
and accepting which users can acquire security tokens.

This ensures compliance with the applicable legislation in relation to regulatory and
anti money laundering (AML). Therefore, promoters or issuers of security tokens will
always be responsible for the whitelisting of investors.

STO tokens will be acquired through an escrow contract specific to each tokenization.
The escrow contract is a secure contract where investor capital is stored and protected
by the smart contract. The smart contract is completely autonomous, independant and
self-regulated. The escrow contract will only release the funds to the STO promoter when
certain milestones have been reached:

1. Soft cap: the soft cap is the first milestone of any STO and it is the minimum
amount needed for the STO to proceed. This amount will be included in the STO’s
white paper and investors will know it beforehand.

• When the soft cap is reached, the escrow account automatically releases the
funds to the STO promoter and investors receive their tokens.

• Any economic benefit derived from the tokens will start accruing from the
moment the soft cap is reached.

• If the soft cap is not reached within the time limits established by the white
paper, the escrow account will automatically cancel the STO and return
existing funds to the respective investors.

2. Hard cap: the hard cap is the last milestone and it represents the total maximum
amount of funds the STO promoter expects to raise. Once the hard cap is reached
no additional tokens will be available in the primary issuance and the fundraising
will be considered fully complete.

• The escrow account will release the remaining capital to the STO promoter
and investors will receive their corresponding tokens.

3. Intermediate stages: the STO promoter could include one or more intermediate
stages between soft and hard cap for its fundraising. These stages would need to
be defined in the STO white paper and would work as milestones.

Issuers will be able to call on the STO factory to deploy a new STO by using BKN utility
tokens and ETH for the transaction. Investors, once whitelisted, will be able to purchase the
corresponding STO tokens in any crypto asset for a fixed STO selling price.

Whenever an investor participates in an STO, the capital will be stored in an escrow account.

20
The first release of the security tokens will be made once the soft cap has been reached.
The issuer of tokens will decide before the release the tranches of tokens between the soft
and hard cap.

As a safety mechanism, it is important to establish that if the soft cap of an STO is not
met by the pre-established deadline, the capital already deposited into the escrow
account will be reimbursed to investors.

As soon as the soft cap is reached, and the first tranche of tokens is released, these tokens
will begin accruing income in the form of interests or dividends, and the issuer will be legally
bound to meet obligations to investors.

The payments flowing from the issuer to investors will be deposited in the escrow contract
by the issuer in any cryptocurrency and paid out to investors through the same escrow
contract.

Regarding the security of the STO factory, clones will be deployed through a minimal proxy
pattern and the entire protocol will be upgradeable through a UUPS pattern.

21
Tokenization
Any asset or business can be broken
down in fractional parts that retain the
forms of tokens, with equal rights and
values, that can be purchased by anyone
in the world at any time.

Brickken offers a market leading, legally

compliant, decentralized platform
to perform STO’s and investment
management, making a secure,
transparent, convenient solution in which
to raise funds through tokenization.

22
08

Architecture
Brickken’s dApp architecture is modular, based on microservices that connect to each other
to facilitate the usage, upgradeability, and maintenance of the protocol.

#5

Smart Contract

#4
User will send
The API can also use
transactions
Infura to send transaction
#1 through MetaMask
manually
Backend (and the API9
is a set of AWS Lambda
functions

KYC and other operations

User will interact
Interact with an API exposed API Database
with a dashboard
by the back-end

Front End
#2 Back End

API will also let

users integrate

#3
their applicacions
instead of KYC solution
using the dashboard integration

KYC
APP

1. FRONT-END: The front-ends dashboard will integrate MetaMask and an API service. The
MetaMask integration is required to allow users to interact directly with the blockchain
and protocol contracts, while the API service will handle KYC management, user logins,
registrations, and general operations.

2. BACK-END: The back-end will consist of a set of lambdas functions that serve the
dashboard app, but also expose the tokenization service without the need for a
dashboard. For this, the transactions that are sent through an API integration, will use
Infura instead of MetaMask, to send the transactions to the blockchain.

3. KYC SERVICE: The KYC service solution will connect to our existing Lambdas system.
Acceptance and rejection of requests can be executed with the API or through the
dashboard.

4. DATABASE: The database will store useful information for the functionality that Brickken
proposes to build (users that might register their emails, metadata’s, transactions, etc.).

5. SMART CONTRACTS: The smart contracts will be made up of an ERC20 token contract
(BKN), and a smart contract that acts as a factory for two other smart contracts:

• The escrow contract is where investors deposit money until the STO is finalized.

• The ERC20 token contract will represent STO specific tokens. The escrow contract
will also be the one that issuers use to deposit the dividends/ interests that serves
as revenue (yield) for the investors.

23
Additional challenges

Achieving scalability and low-cost bases in public blockchain networks

Existing solutions must deal with the lack of scalability and costs associated with public
blockchain networks such as the Ethereum mainnet. For this reason, the solution adopted
in many cases is to use a private blockchain, renouncing decentralization as an objective.
Decentralization is a fundamental principle that governs Brickken’s existence, given the
advancement of scalability and cost solutions, we are comfortable building on Ethereum’s
mainnet.

To overcome this challenge, a solution is proposed based on the following flow:

Buy with USDC or

hold BKN already #1

#2

STOs Factory
Use BKN
to run Deploy new STOs tokens
an STOs Accept BKN as form of payment
Fixed price per services

#3
Promoters

Spawn new Spawn new

instance of instance of

Escrow #5
STOs Tokens Soft/hard cap
Start/Þnish

ERC20 Success or not Deposit ANY CRYPTO to reserve

Rollback or send tokens X amount of STO tokens
Whitelist
Stake used BKN and mint
Stablecoin BKN as rewards for succesful
Promoter asset STO and dividend payments
Dynamic attributes
#4 Slash rewards and stake to
promoters not paying dividends
KYC Investors
Automatic swap
of any ERC20/ETH
Contains terms/conditions and
asset tokenization details. to USDC

#6

If STO succeeds, investor will receive X

If STO succeed, promoter will received
amount of STO tokens, otherwise the rollback
the total amount in USDC
will give him back the USDC/BKN deposited amount.

1 The issuer will buy BKN from a Uniswap pool that Brickken will create during the public
sale of the BKN utility token.

2 Once the issuer receives BKN utility tokens, the issuer can initiate a tokenization
specifying the asset to be tokenized alongside the terms and conditions of the
tokenization (purpose, place of issuance, financial terms, tokenomics, deadlines, etc.).

3 The result of this process will be two smart contracts: an STO token and an escrow
contract. Used BKN will be stacked in the escrow contract while the STO is running.

4 The issuer must establish what is the hard cap and soft cap, but also when the STO
starts and when it ends.

5 Investors will be able to invest in STOs with any cryptocurrency. Investors’ money will
be automatically converted to the stablecoin USDC. This is to avoid wide fluctuations
of value in the short period of time that lasts between deposits being made to the
finalisation of the STO.

6 If the escrow reaches the soft or hard-cap the tokenization will be considered successful.
The escrow will release the capital to the issuer and the security tokens to the investors.
In a successful STO, the issuer will be able to withdraw the stake but if he decides to
keep it staked it will be earning rewards over successful dividend payments. At the same
time, bad issuers can be slashes over their stake if they don’t meet dividend payments.

24
Investors will accrue interest and/or dividends on their acquired security tokens, thereafter,
in accordance with the terms and conditions of the STO, the issuer must deposit the accrued
interests or dividends in the escrow contract. This objective will be achieved through the
following flow:

#0 #1

Deposit USDC Escrow Distribute dividends

according to the KYC Investors
as dividends
contract balance of STO tokens

KYC Promoter

25
Technical approach to KYC implementation
The next technological challenge is related to legal aspects. For any user to be able to
invest in an asset tokenization, it is a legal requirement to successfully pass a KYC process.
Brickken’s blockchain will comply with global data protection standards and applicable
legislations, thus, cannot handle the personal data of users required for the on-chain KYC
processes.

Therefore, Brickken will offer a hybrid solution where the KYC processes will be completed
off-chain (outside the blockchain network). Users are registered in a whitelist in the protocol’s
smart contracts. Therefore, no personal data of the user is stored in the blockchain, but
its registration will trigger whitelisting and will pass through the blockchain, using smart
contracts to accept users who have previously passed their KYC successfully.

To overcome this challenge, a solution based on the following flow is proposed:

Blacklist/Whitelist
for automated
approval/rejection

#0 #1

Whitelist user
Submit Accept/reject to receive STOs Token
KYC Data KYC tokens if KYC contract
is accepted

Unkown Promoter KYC Promoter

#3
Accept/reject
KYC

#2 #5

KYC Investor
If promoter approves
Wants to sell he/she becomes
Submit
his tokens a KYC Investor
KYC Data

#4
Unkown Investor
Must submit
KYC to be able
to acquire tokens
from KYC Investor

Unkown Buyer

0 Issuers/Promoters send their KYC requests to Brickken. Brickken will have a white/
blacklist to automatically resolve requests. Once resolved the issuer can now use
the platform.

1 The issuer is now validated and can start accepting or rejecting requests from
investors.

2 An unknown investor sends a KYC request to participate in an STO. Request is

accepted/rejected by the issuer of that specific STO. A transaction is sent to the
blockchain to whitelist the accepted investor in receiving STO tokens.

3 The investor is now a validated user. The investor wants now to transfer the STO’s
token to an unknown buyer.

4 The unknown buyer submits a KYC request to the same issuer.

5 The unknown buyer has the KYC request accepted and it’s now whitelisted to receive
the STO’s token.

6
The validated buyer receives the STO tokens.

26
09

The dApp and BKN

Overview

The Fuel Brickken’s utility token BKN, will be used for all transactions made
within the platform.

The Engine A decentralized application capable of providing the simplest way

to issue security tokens and initiate an STO. Brickken’s dashboard,
allows investors to browse and buy the tokenized assets using
Brickken. Smart contracts facilitate legal and regulatory compliance
and will engage with the issuer, investor and the platform.

Compliance A Know-Your-Customer system integrated with the platform will

verify the identity of both issuers and investors and ensure regulatory
compliant STOs.

The Vision Brickken’s vision is for our decentralized protocol to become the
global legally compliant tokenization standard. Brickken will continue
to develop and innovate until it is a full turnkey solution.

Features for Issuers

Buying BKN Brickken provides issuers a solution to fund their account balance by
purchasing BKN tokens directly from the platform.

Start STOs Brickken allows issuers to create STOs using BKN and set the terms
related to each STO (type, tokenomics, maturity, terms, etc.), directly
from the platform.

Withdrawing Issuers can withdraw successful STO tokens into USDC directly from
Funds the platform.

Dividend Issuers can easily manage dividend distribution to investors, which

Management ensure efficient use of time and resources.

Features for Investors

Invest in Live Brickken provides investors with a dashboard broadcasting the live
STOs STOs created using Brickken’s decentralized protocol. Brickken’s
platform ensures an optimized user interface and experience to
improve the investment experience.

Crypto Payments Brickken has a crypto-payments system that allows investors to buy
tokens using any crypto asset available in the marketplace.

Wealth Brickken allows investors to manage their investments in tokenized

Management assets easily. Directly from the platform, investors can receive and
withdraw dividends.

STO Token Investors can exchange their acquired security tokens for all the
Exchange available security tokens in the platform.

27
 10

The STO Process

In order for issuers to initiate the STO process, access the STO factory, and be able to use
the dApp, the user will need to settle a fixed amount of BKN utility tokens into the protocol.
To initiate an STO process, 10,000 BKNs will need to be purchased and deposited in the
escrow account. In addition, STO issuers will have to deposit a specific percentage of the
funds raised as collateral to protect investors in the STO.

Depending on the issuance size of the STO, the amount of tokens required will be the
highest of 10,000 BKNs or [10%] of the STO.

It is important to establish that investors in STOs do not have to possess BKN to interact
with the dApp or to be able to invest. Incentive mechanisms can be created to further
link the BKN utility token with the STO being issued.

Collateral: incentivising the self-sustainability of the ecosystem.

It is Brickken’s intention to design and develop a self-regulated STO ecosystem. We
acknowledge that certain limitations arise from full decentralization. Among others, it is
possible that certain STO issuers intentionally try to misuse the ecosystem itself. Such
decentralization makes it difficult to actually control who can and cannot access the
ecosystem. As a result, Brickken will implement an embedded system that will carry out
certain actions automatically and autonomously to safeguard investors’ interests to the
maximum extent possible.

STOs will have a collateral mechanism by which the BKN required to carry a tokenization will
be deposited in the escrow account taking the shape of stake. The escrow account will mint
the rewards which will be added to the balance of BKN. Depending on the size of the STO,
additional BKN could be required.

The STO factory will incorporate a reward/penalty system by which Good Actors will
receive staking in the form of BKN that could be sold or used to deploy additional STOs
or services payable in BKN. Opposedly, Bad Actors will be penalised seeing their BKN
deposits slashed and will be included in a Blacklist.
Good Actors:
1. Staking is understood as the process by which BKNs generate an interest or
reward in the form of BKN.
2. Good Actors are understood as the STO issuers that meet the terms & conditions
disclosed in the white paper and/or preliminary information of the STO. In other
words, Good Actors are STO issuers that (i) meet their dividend targets, (ii) pay
dividends in time, (iii) respond timely and accurately to governance actions
determined by the token holders, among others.
3. Good Actors will receive additional BKNs which will remain locked in the escrow
account until the STO is finished or certain events take place.
4. These BKN can then be used to deploy additional STOs or can be liquidated in
the market.

Bad Actors:
5. Opposedly, Bad Actors are STO issuers that fail to (i) meet dividend payments, (ii)
do not respond to governance actions, (iii) act unlawfully, among others. Should
the STO issuer act unlawfully and/or improperly, the STO issuer would become
a Bad Actor and its existing collateral would be slashed. Slash actions will be
referred to the DAO, which can decide slashing anything between 0% - 100%.
The actual slash action will be assessed on a case by case basis and depends on
factors such as maliciousness, intention, misfortune, reiteration, and whatever
other the DAO establishes as wrong intended. For example, a bank transfer or
sporadic human error could be disregarded, whereas the same human error in
reiterated occasions could then be penalised.

28
 6. Slashed collateral would then be distributed among the token holders of the
respective STO. Investors who detect and communicate the misconduct will be
rewarded.
7. In addition to slashing, Bad Actors would fall under a Blacklist which would then
warn investors in future STOs and/or block them from issuing additional STOs.
[The Blacklist will be public and accessible by anyone].

Monetization

Brickken will monetize the dApp through two paths: i) B2B and ii) B2C.

B2B – Issuers

Brickken’s monetization from issuers in a B2B model comes from:

1. Success fee: consists of a one-off success fee of [2.5%] which is charged

exclusively if the STO’s soft cap is reached, and until the hard cap is met. This fee
will automatically be transferred to Brickken’s Ethereum address every time the
deposited funds in the escrow contract are distributed to the issuer.

B2C – Investors

Brickken’s monetization from investors in a B2C model arises from transactions investors
engage in secondary markets. It is important to state that investors buying security tokens
at their issuance do not have to pay any fees to Brickken.

1. Transaction fee: every time an investor in a STO sells their security tokens to
a third party, inside Brickken’s platform, in a peer-to-peer manner, or in third
party centralized or decentralized application, Brickken will be obtaining a fixed
transaction fee of [0.2%] per trade. In the future Brickken may add incentives
such as discount fees, volume-based tiering; Brickken will not charge more than
[0.2%] for secondary transactions.

29
 11

Tokenomics

Initial Coin Distribution

The issuance will have an initial limit of BKN [100,000,000].

Of this amount, the IDO will deposit 12,000,000 (12%) into the Uniswap pool to ensure
stability of the token; the pool will be funded with USDC. USDC is a stablecoin.

The initial open price will be 0.1 BKN/USDC. This implies that there will be 1,200,000 USDC
in the pool at the time of closing.

Uniswap is an automated liquidity protocol powered by a Constant Product Formula and

implemented in a system of non-upgradeable smart contracts on the Ethereum blockchain.
16
Uniswap:
This removes the need for trusted intermediaries, prioritizing decentralization, censorship-
[Link] resistance, and security. Uniswap16 is open-source software licensed under the GPL.

Social
Tokenization will change the world as we know it. One of the main considerations of STOs
is to allow smaller, less fortunate individuals and businesses, to access capital markets
in a less restricted approach. For instance, certain undeveloped countries may lack the
appropriate financial infrastructure to gain access to funding, or countries with questionable
governments may suffer from corruption or other nation state related risks that may result
in investors rejecting investment propositions from these countries.

To enable individuals and businesses to have the same access to capital markets as other
more developed countries, Brickken is considering allocating a share of its profits to allow
smaller individuals and businesses to obtain a discount to the cost of tokenization.

As mentioned, Brickken intends to develop a DAO. The purpose of the DAO will be to decide
protocol upgrades. For example, to incentivise the allocation of social funds to funds STOs
which are governed by ESG parameters, general governance and protocol upgrades.

The goal is to be as decentralized as possible with a major emphasis on involving the

community that will be crucial to the success of the project.

30
Allocation
Liquidity Pool
12% Team
Advisors
1,5% 20%
Air Drop
1,5%

Allocation %

Investors
25%
War Chest
40%

Allocation % Allocation BKN

Team 20,00 20.000.000

Investors 25,00 25.000.000
War Chest 40,00 40.000.000
Airdrop 1,50 1.500.000
Advisors 1,50 1.500.000
Liquidity Pool 12,00 12.000.000
Total 100 100.000.000

Private Sale

Warchest
Pool for future developments (Bounties/Hackathons/Protocol upgrade rewards) (1 year)

Funds locked in Funds locked in

a vesting wallet a vesting wallet
(1 year) (4 year)

Pre-issuance buyers TEAM

Pre-IDO

#0
BKN Tokens
Funds locked in ERC20
a vesting wallet
(1 year) Votes
EIPs
Mintable
Advisors

31
 The Private Sale of tokens will be sold at a discount. We will apply a discount of 20% on
the pre-established price of the BKN utility token ($0.10). The Private Sale will begin on
September 1st, 2021, at 12:00 (UTC +0) and end on February 28th, 2022, at 12:00 (UTC +0)
subject to market conditions. The total issuance of BKN tokens for this presale period is
25.000.000.

The private sale [AND THE WARCHEST] will be used to fund the liquidity pool in Uniswap, the
operations of Brickken, its development and upgrades of the dApp. This also includes talent
acquisition, contract development, business expansion, training, and development budget.
In addition, the funds will also be dedicated to expand the Brickken brand’s awareness,
becoming the world’s most popular decentralized STO dApp for tokenization services. This
involves all related marketing activities including PR, media buying, language coverage,
promotion and education. Finally, a percentage of the funds will be kept as cash reserves to
cover unexpected contingencies.

Investors can subscribe their interest by sending an email to IDO@[Link]. Allocation

of tokens will be done on a first come, first served basis, and once the corresponding SAFT17
has been signed.

Private sale token buyers will be receiving at the moment of purchase wrapped BKN
tokens (wBKN), in a parity of the purchased tokens (1 wBKN : 1 BKN). The buyers can begin
exchanging their wrapped tokens for BKN in the website facilitated by Brickken starting
SAFT:
September 1st, 2022, at 12:00 (UTC+0), the moment when the locked-up vesting mechanism
17

[Link]
[Link] implemented by Brickken is finalized.

This mechanism is implemented to protect the tokens’ value, and to mitigate the potential
for large fluctuations of the token price during the initial stages of the public sale.

Once the private sale token buyers have exchanged their wBKN for BKN, they can begin
liquidating their positions.

Brickken aims to demonstrate its commitment to the success of the project and requests
private investors to do so as well.

Public Sale
The deployment of BKN utility tokens in the Uniswap Pool will occur on March 1st, 2022
at 12:00 (UTC +0). The public sale can be conducted earlier if the private sale is concluded
earlier than the specified date.

For Brickken’s IDO to be successful, Brickken will be setting agreements with liquidity
providers, to fund the liquidity pool in Uniswap with 1,200,000 USDC.

Uniswap applies a 0.3% fee for swapping tokens. This fee is split among liquidity providers
proportional to their contribution to liquidity reserves. Swapping fees are immediately
deposited into liquidity reserves.

Vesting programme of the Brickken team

In line with the above, the Brickken team will vest its tokens in stages.

The vesting schedule will be linear in time and will last 4 years starting from September 1st
2021 for team (accounted for the 90% of the 20% of tokens reserved to the team) and 1 year
starting from September 1st 2021 for employees (accounted for the remaining 10%).

32
War Chest

Brickken has allocated 40% of the initial supply as a war chest, which will be used to fund:

1. Bounties.
2. Hackathons.
3. Protocol upgrade rewards.
4. DAO creation and funding.

These tokens can be sold through a private or public sale in the Uniswap pool only after the
IDO has launched.

Advisors
All Brickken Advisors are subject to the same agreement.

Advisors will receive wBKN starting September 1st, 2021, until September 1st, 2022.

At this moment, Advisors can begin exchanging their wBKN for BKN. To be completed under
the same terms as private sale token buyers once their locked-up vesting mechanism is
lifted.

33
12

Team

The Brickkeneers

Edwin Mata Manuel Ortiz-Olave

Legal Architect & Bandmaster Finance Strategy and Tokenomics

Serial entrepreneur & digital lawyer specialized Infrastructure and real asset investment expert
in new technologies and blockchain. Lecturer in in M&A and project finance across public and
universities and business schools, and advisor for private equity markets in multiple countries in the
startups in fintech and legaltech. EU. Financial modelling ninja.

Dario Lo Buglio Ludovico Rossi

Blockchain Ninja Strategic Organisational Marshal

Experienced blockchain developer and blockchain Startupper specialised in innovation, agile

security researcher, specialised in creating methodologies, go-to-market strategies and
real world product models and speeding up blockchain technology. Blockchain devotee and
blockchain adoption. decentralization lover.

Pedro Sandoval Felipe D’Onofrio

Tech Shepherd and Clergyman of Decentralization. Blockchain Wizard and Relentless Blockchain Entrepreneur.

Outside the box thinker, economist specialized Tech enthusiast and self-learner to the highest
on Blockchain and cryptocurrency development, extent with more than four years fully dedicated
programing headhunter, tech project manager to Blockchain-based technology endeavors
and business modeling. including mining and exchange mechanisms
such as trading, arbitrage, OTC operations and
others. Devoted to finding new and innovative
applications for blockchain.

Yassir Haouati Bram Duindam

Growth Engineer Digital Marketing & Media Buy Strategist

Growth marketer & engineer specialized in funnel Specialized in cross channel marketing campaigns
creation and marketing automation. Frontend with over 7 years experience in performance
developer specialized in [Link], [Link] and marketing, and growth hacking techniques.
[Link]

Lucero Chargoy
Community Builder

Specialist in public finance and tax, with

experience in fundraising for NGOs and business
creation for the economic inclusion of women
in Latin America. A passionate devotee of
decentralized finance.

34
14

Team

The Gurus

Financial / Operations Legal

Matthew Ekroth Ignacio López del Moral

Former systematic equity portfolio manager and Capital Markets expert focused on Virtual Assets
strategist with nearly 20 years of experience at & CBDC, Risk Assesment & in mapping the Regu-
Investment Banks and Hedge Funds, including latory scope for disruptive technologies.
Goldman Sachs, Lehman Brothers and Engineers
Gate. He recently founded Green Edge Advisors
Ltd to help investment managers modernise their
data and process pipelines.

Strategy

Hernan Mayo Daniel Fiore

Global Executive with more than 25 years Angel Investor and Entrepreneur devoted to
experience in Financial Services. Focused on empowering economic freedom and financial
Working Capital Solutions, Global Payments, independence by bridging the gap between Legacy
Structured Trade Finance, Risk Mitigation and Finance and the Cryptoverse. Over a decade of
Innovation. Global Mentor of Emerging Leaders. experience in navigating risk, compliance and
regulatory frameworks in financial markets and
high level negotiation. A champion of blockchain
technology.

Carlos Otermin
Carlos is an ecommerce and fintech leader, with
Tokenomics
strategic mindset & operational expertise. He is
passionate about technology and progress and Philippe Engels
has worked on numerous startup projects. He
currently serves as EVP of Lazada Group (Alibaba) Philippe Engels is a passionate decentralization
and has recently gained more experience in the advocate with a post-grad in International
payments and crypto industries. Relations from Bristol University. He is skilled
at negotiation and project management. Token
After 5 years in the consulting industry (PwC, economics and compliance in the blockchain
Accenture) across Europe and LATAM he joined industry have been his main focus since 2017.
Lazada in early 2015, taking roles first in Malaysia
and then the Philippines, expanding his scope
several times and running key functions across
marketing, retail, sales and commercial.

Innovation

Daniel Diez
Tech entrepreneur renowned for being one of
the first early adopters in the Blockchain & Crypto
space in Spain and Latam. Being the former co-
founder of crypto startups such as Bit2Me and
partner of impact startups such as Bosquia, he
currently leads innovation and venture creation
in Accenture, while teaching on strategy and
deeptech in several tier 1 business schools.

35
Contact
Email us at hello@[Link]
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Follow us on Twitter @BrickkenSTO