From signup to owning income-producing units

Expect · The account step: full legal name, email, password, country of residence, and the “How you’ll invest” track picker. Ghana retail is pre-selected when the country is Ghana.

Expect · Every step saves as you finish it; you can close the tab and log back in to continue exactly where you left.

Expect · Only the file’s digest and name are retained once the check completes. The card says raw images are deleted.

Address next: street, city, country plus one proof document (utility bill, bank statement…).

Expect · Classification confirms you as a Retail Investor with the caps in writing: $10,000 annual, $5,000 per offering, 6 of 7 offerings eligible, and a 48-hour cooling-off per subscription.

Expect · One act does both: your account on the asset ledger is created (its BA-DA reference appears under Settings) and the whole application submits. You land in the portal marked IN REVIEW. A KYC case and an AML screening cycle are now open for compliance.

Expect · The case shows the provider evidence (your masked document, submission date, provider checks) with its evidence hash.

Expect · The case moves to the “Awaiting decision” tab. If Naa opens it there, the approve/reject buttons are absent, and the banner says you cannot decide a case you recommended.

Expect · The investor flips to VERIFIED and the portal header pill updates. Investing stays locked until the screening cycle also clears.

Expect · The cycle shows CLEAR. Until this lands, the checkout’s eligibility panel blocks with “Your AML and sanctions screening is still under review”.

Expect · The account appears with a masked reference and a verification state.

Expect · Verification completes: the card shows VERIFIED, and your first account becomes DEFAULT automatically.

Payout accounts (where income lands) live in the same tab and verify the same way.

Expect · Six of seven offerings show for a fresh retail account, with a banner counting what your limits hide (the Tema data centre is restricted). The detail page shows the asset record, documents, policies and yield basis.

Expect · Quick-amount chips end at “$5,000 (your cap)”. The panel prices tokens, adds the 1.5% fee, projects income, and shows YOUR LIMITS filling live ($500 of $5,000 / $500 of $10,000). The eligibility verdict for this exact amount reads “Eligible for this offering · policy v1”.

Retail caps: $5,000 per offering, $10,000 per calendar year. Amounts over a cap are refused with the reason stated.

Expect · The signature binds the exact document versions listed (offering memorandum, risk disclosure and subscription agreement, each with its version number); the signing evidence is hashed and kept.

Expect · Money goes to the trustee’s escrow account, never to Blackant. The reference (e.g. BA-GPB-44871) is how the feed credit finds your subscription.

Expect · The subscription shows “awaiting reconciliation → tokens mint at close”, and the portfolio grows a needs-attention card: “$507.50 in escrow”.

You can cancel penalty-free for 48 hours after signing. The cooling-off deadline is printed on this screen.

Expect · The row flips AWAITING FUNDS → IN ESCROW and the close button starts counting: “Close round (1 in escrow)”.

Bank-feed credits recorded under Escrow reconcile through auto-match instead; an investor-reported payment reconciles right here on the register.

Expect · Close settles every in-escrow subscription in one act: allocations computed, units minted on the ledger, fees swept, and the escrow principal turned into a governed release request for a second approver.

One-shot per offering: closing ends the raise for everyone following this journey after you. Explore up to the button freely; only close when you want to see settlement. `pnpm --filter @blackant/api db:reset` rebuilds the whole demo world.

Expect · The holding appears with tokens, value at NAV, and the countersigned agreement in Documents.

Expect · One row per record-date entitlement: units held on the record date, rate, gross, tax withheld, net, payment state, and a statement link.

A failed payout stays payable at the same amounts until the account is corrected. The entitlement amounts do not change.

Expect · The statement is generated from frozen payment evidence. A year with no paid income is refused.

Expect · Sell units are reserved immediately; buys must fund trustee escrow before they enter matching. Matches settle bilaterally at the frozen NAV.

Expect · Profile changes are versioned and, when material, trigger re-screening. A tier claim opens a compliance case. The higher limits apply only after a maker/checker approval.

Expect · The complaint lands in the compliance tray with an owning task; resolution closes both together and you see the outcome.