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ETHJKT 2026 · Ethereum SepoliaTestnet demo · no real money
opengrounds
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The model

Clear rules. Open numbers.

Review how venue valuations and profit distributions are calculated. Sepolia contracts independently enforce the same rules.

Valuation & reference price

PRD §4.1–4.3

D12 = reconciled distributable net profit over the latest 12 months
V_income = D12 ÷ r, where r = 9%Assumption
V = min(asset value, V_income) · the more conservative value
y = D12 ÷ V · 5%–20%Assumption is a review range, not an automatic rejection rule.
S = V × X · economic rights acquired by Grounds
N = S ÷ p · nominal token price p = Rp10,000Assumption
Reference price = V × X ÷ N · changes only through a platform + verifier revaluation for new purchases.

Demo asset values are entered by a reviewer from submitted documents and labeled. Production requires an independent valuation. Grounds buys and issues the rights, so inputs and results are disclosed.

Monthly waterfall & per-token distribution

PRD §4.4–4.5

D = max(0, gross − refunds − operating expenses − tax − operator fee − venue reserve − platform fee)
P_SPV = D × X · F_spv = P_SPV × m, where m = 2%Assumption · P_inv = P_SPV − F_spv
Per-token share = P_inv ÷ N · accumulated at 1e18 precision, rounded down; remainder carries forward
Period obligation = (N − treasury tokens) × per-token share. Grounds receives the treasury-token share.
Contracts reject deductions above gross revenue or operating expenses above 80%Assumption of gross. Platform fee: 3%Assumption of gross. Losses do not carry forward; investors are never billed.

Daily split & monthly true-up

PRD §3.6.1–3.6.2

Each gateway-settled booking sends 12%Assumption to the SPV pocket and the remainder to the owner. At period close, collections are reconciled against P_SPV. Surplus returns to the owner; shortfalls are due before the deadline. If distributions remain unpaid for 7 daysAssumption, anyone can mark the series Overdue; after 14 more daysAssumption, it can become Defaulted.

Payment splitting uses MockPaymentProvider in this sandbox; live Xendit splitting is not enabled.

Who approves what

EIP-712 attestations · 2 of 3 signers

DecisionSigners
Asset verified · tokens may be issuedGrounds via Open Grounds (buyer) + owner (seller). Owners upload the venue application. Grounds approves the acquisition deal in its back office before the owner signs.
Monthly profit figuresGrounds via Open Grounds + owner; after 3 daysAssumption of owner silence, an independent verifier may sign instead.
Reference-price revaluationGrounds via Open Grounds + independent verifier
Token purchase / sell-backThe investor signs the order; the platform executes after rupiah settles.
Distribution creditedPlatform only; limited by the on-chain obligation.

Demo disclosure: our team operates both Open Grounds and Grounds. If the same team controls two keys, 2-of-3 demonstrates the mechanism only. Owners and reviewers are independent. Production requires separate SPV and platform governance, accounts, and control. Registry: 0x2FaFd5Db…

Token rules

ERC-20 · 0 decimals · restricted transfers

  • Fixed supply mints once to the treasury at acquisition. No additional minting and no burns.
  • Tokens move from treasury to investor after payment and from investor back to treasury for buyback. Investor-to-investor transfers are rejected.
  • Each purchase creates a separately locked lot: 10 minutes in demo modeAssumption · six months in production.
  • Sell-back price = reference price × (1 − d), where d = 0%Assumption. Requests depend on reserves, run FIFO, and are not guaranteed.
  • Tokens have no expiry. They end only through liquidation or dissolution.

Series lifecycle

Draft → Verified → Active ⇄ Disputed · Active → Overdue → (Active | Defaulted) · Defaulted → (Active | Liquidating) · Liquidating → Closed

Status is read from the contract.

!
Before you participate:
  • Testnet demo only. No real money moves.
  • Returns are not guaranteed. Distributions depend on venue performance.
  • Liquidity is not guaranteed. Buybacks depend on Grounds and available reserves.
  • Reference prices follow the published valuation formula.
  • Venue assets are a pricing benchmark, not collateral. Tokens are not backed by venue assets.
  • Open Grounds is not licensed or approved by a regulator to offer these products.