The thinking behind the product.
YieldFabric is the productised outcome of applied research into the micro-structure of collateralised lending markets — work by NotCentralised, proven under the Reserve Bank of Australia’s Project Acacia pilot.
Collateralised Lending Markets: A Tokenised Micro-Structure Approach
Why a lending market becomes more efficient when loans, collateral, entitlement, and settlement are expressed as deterministic state — demonstrated on a live Australian securitisation and a repo settled in central-bank money.
Capital is not the bottleneck. Alignment is.
Notes on the alignment economy — why durable, reciprocal transaction volume between recurring parties is the real measure of a market, and the fabric built to make it run.
Atomic swaps: delivery-versus-payment without a custodian
The settlement gap is where counterparty risk lives. An atomic swap removes it — every leg settles in one transaction or none does, across as many parties as the deal needs, with amounts kept confidential.
Collateral & rehypothecation: a chain you can trace
A repo is a promise to repurchase. Express it as a single stateful instrument and you get collateral that can move, rehypothecation you can trace, and small-ticket repo that finally pays for itself.
Non-custodial capital calls: drawdowns the holder exercises directly
A capital call is a right to draw committed funds. Embed that right in the instrument and the holder exercises it directly — unilaterally, atomically, with no intermediary holding economic control over the capital in between.
Confidential documents: selective disclosure that gates settlement
A confidential document is a signed credential you never hand over whole. Disclose only what is needed, prove the rest in zero-knowledge, and that private proof becomes an oracle — one that gates a confidential payment or a standing account policy, with the document never seen.