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zeekayandHanzo Dev
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A July commit removed eight papers on the premise "no license — DEX/non-custodial only". That premise is wrong: Lux operates an ATS, a broker-dealer, a transfer agent and a bank, and this material is resold at lux.financial. The merge that brought main in preserved the removal because the commit stated a reason, which is how a stale reason outlives the fact it rested on. Back, at the versions main carried — main never received the removal, so its copies are the later ones: the ATS architecture, the security-token standard, smart order routing, institutional custody, MPC custody, post-quantum securities, the SSB partnership and the CoinBridge brief. 83 files. Co-authored-by: Hanzo Dev <[email protected]>
74 lines
2.9 KiB
TeX
74 lines
2.9 KiB
TeX
\section{Conclusion}
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We have presented the architecture of a non-custodial ATS built on Lux Network that eliminates custodial risk through MPC threshold signing while maintaining full regulatory compliance with SEC Regulation ATS, broker-dealer requirements, and transfer agent obligations. The system descends directly from the Arca securities infrastructure (2018) and represents the culmination of seven years of work on digital securities.
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The key architectural decisions---single Go binary on Hanzo Base, 2-of-3 MPC threshold signing via \texttt{luxfi/mpc}, atomic T+0 settlement on Lux EVM, DID-based investor identity---together produce a system that is simultaneously the safest (non-custodial), most decentralized (no single custodian), and most regulatory-compliant (SEC-registered ATS/BD/TA) digital securities platform in operation.
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The companion papers on the security token standard \cite{lux-security-token-standard}, smart order routing \cite{lux-smart-order-routing}, and transfer agent architecture \cite{lux-transfer-agent} describe the subsystems in detail. Together, these papers constitute a complete specification for regulatory-compliant, non-custodial securities infrastructure on Lux Network.
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\begin{thebibliography}{20}
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\bibitem{lux-mchain-mpc}
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Z.~Kelling, V.~Seesahai,
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``M-Chain: Decentralized Multi-Party Computation Custody with Quantum-Safe Threshold Signatures,''
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Lux Industries Inc 2023.
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\bibitem{lux-security-token-standard}
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Z.~Kelling,
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``Lux Security Token Standard: ERC-1400 on Post-Quantum EVM with MPC Custody,''
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Lux Industries Inc 2025.
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\bibitem{lux-smart-order-routing}
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Z.~Kelling,
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``Smart Order Routing for Digital Securities: Multi-Provider Execution on Lux Network,''
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Lux Industries Inc 2025.
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\bibitem{lux-transfer-agent}
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Z.~Kelling,
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``Blockchain Transfer Agent: On-Chain Cap Table with MPC-Custodied Registry,''
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Lux Industries Inc 2025.
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\bibitem{lux-credit-protocol-spec}
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Z.~Kelling,
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``Lux Credit Protocol Specification,''
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Lux Industries Inc 2023.
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\bibitem{sec-reg-ats}
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Securities and Exchange Commission,
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``Regulation of Exchanges and Alternative Trading Systems,''
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Release No.~34-40760, 1998.
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\bibitem{sec-rule-15c3-3}
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Securities and Exchange Commission,
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``Customer Protection---Reserves and Custody of Securities,''
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Rule 15c3-3, Securities Exchange Act of 1934.
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\bibitem{finra-cat}
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Financial Industry Regulatory Authority,
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``Consolidated Audit Trail (CAT),''
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FINRA Rule 6800 Series.
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\bibitem{erc1400}
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A.~Dossa, P.~Ruiz, F.~Vogelsteller, S.~Gosselin,
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``ERC-1400: Security Token Standard,''
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Ethereum Improvement Proposals, 2018.
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\bibitem{erc1404}
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R.~Bose, J.~Cawley,
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``ERC-1404: Simple Restricted Token Standard,''
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Ethereum Improvement Proposals, 2018.
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\bibitem{gg20}
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R.~Gennaro, S.~Goldfeder,
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``One Round Threshold ECDSA with Identifiable Abort,''
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Cryptology ePrint Archive, 2020.
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\bibitem{frost}
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C.~Komlo, I.~Goldberg,
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``FROST: Flexible Round-Optimized Schnorr Threshold Signatures,''
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SAC 2020.
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\end{thebibliography}
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