VELMVellum Protocol8,420 waitlist KITEKite Ledger2,190 waitlist PLSDPalisade ID1,640 waitlist NRTLNorthlineDay 8 of 14 SABLSable RailDay 5 of 14 QULLQuill MarketsDay 11 of 14 CDWLCinder Well6,947 waitlist HRTNHartline8,787 waitlist OBSNObsidian Rail4,416 waitlist FENLFen Clearing1,060 waitlist LUMNLumen Books5,510 waitlist RDCTRedact ID6,485 waitlist HRBNHarbor NAV6,973 waitlist QLTDQuilt1,876 waitlist NMBMNimbus Match7,864 waitlist BRASBrass4,166 waitlist SLSTSolstice Credit9,342 waitlist WLTRWillow Transfer7,031 waitlist EMBREmber Registry2,487 waitlist NQAYNorth Quay2,013 waitlist KLNSKiln4,412 waitlist GLSHGlass HouseDay 8 of 14 IRNPIron PierDay 1 of 14 PLFRPale FireDay 3 of 14 VELMVellum Protocol8,420 waitlist KITEKite Ledger2,190 waitlist PLSDPalisade ID1,640 waitlist NRTLNorthlineDay 8 of 14 SABLSable RailDay 5 of 14 QULLQuill MarketsDay 11 of 14 CDWLCinder Well6,947 waitlist HRTNHartline8,787 waitlist OBSNObsidian Rail4,416 waitlist FENLFen Clearing1,060 waitlist LUMNLumen Books5,510 waitlist RDCTRedact ID6,485 waitlist HRBNHarbor NAV6,973 waitlist QLTDQuilt1,876 waitlist NMBMNimbus Match7,864 waitlist BRASBrass4,166 waitlist SLSTSolstice Credit9,342 waitlist WLTRWillow Transfer7,031 waitlist EMBREmber Registry2,487 waitlist NQAYNorth Quay2,013 waitlist KLNSKiln4,412 waitlist GLSHGlass HouseDay 8 of 14 IRNPIron PierDay 1 of 14 PLFRPale FireDay 3 of 14

MAPS

In market

IN MARKETPermissioned interop

Maple Vault

3,277 already asked. The window is a few days. After that, archive.

Lagos is not a backdrop. It is the city where the customer can be called on a recorded line.

Maple Vault — Attestation packets and IBC-style messages between chains that are not public. Banks and funds that already live behind a firewall use this to talk to each other without opening a public bridge.

Live campaign. 3,277 on the product waitlist — that is demand, not an allocation.

Closed stamp is coming. a few days is the number. There is not a second number.

Diligence, not a prospectus. RCA Pad does not allocate, take orders, or close funding. If this company raises, it raises with its own counsel.

Waitlist

Window

Closed

Heat

0/99

Inbound / wk

0asks

Asking now

0live

Named pilots

Redacted on the public page

Live nodes

Cosmos SDK · permissioned

Counsel hours

Lagos · counsel-named

Sentences killed

Before listing

Claims live

4/8

Growth

Our cut

Of any proceeds

Plate Lattice · 4544

MAPS

The plate

Lattice. Edition 4544.

A unique plate for Maple Vault. Geometry, orbit, and edition belong to this company — no other listing on the board shares it.

MAPS · Lagos · Permissioned interop

Score

Desk diligence

Pilots

Named, redacted

Waitlist

Product demand

Lagos

Banks

Sells

Per

Per packet

Markets

Lagos

Years

Founded 2025

Surfaces

Cosmos SDK · permissioned

Complete

File readiness

The wedge

Per packet

The wedge is island chains: every extra permissioned deployment is an integration budget.

Why the desk took it

A real job, not a ticker.

Public connectivity is off unless counsel names it.

Traction

3 named pilots (redacted).

Founded 2025, headquartered in Lagos. 3 named pilots on file (identities redacted in public). 3,277 on the waitlist, gated — product demand, not a book built. 22 nodes or connected surfaces reported. Desk diligence score 92/100. A treasurer at a bank that already settles — not a crypto-native desk. A redacted engagement letter landed in week one. That is why the desk took the meeting.

Next 12 months

Two production counterparties.

Public IBC is a different threat model. Seat plus event. If they ever attach a token as the unit of account, the file stops.

The brief

How a serious reader should hold this.

The decline pile in Permissioned interop is not a rumour. It is how this board stays readable. Maple Vault is what survived. That is the sell.

Read this as an operating company, not a round. Counsel has a posture: Lagos · counsel-named. Restricted markets stay dark. RCA Pad takes 0% if they ever raise. That combination is why inbound did not need a ticker.

US traffic was taken off the public surfaces in the first working session. Maple Vault did not argue. Adult companies do not costume a US offering.

From the pilot

US persons are outside the audience. A form that asks “are you accredited?” without verification is not an exemption.

From the founder

We will not describe this as Reg CA-compliant, MiCA-stickered, or FCA-authorised. Issuers retain their own counsel in every relevant jurisdiction.

From counsel

This communication is not an offer. Participation mechanics do not exist on this pad. If a later reader treats the public stack as the offer, the stack was already wrong.

The window

Miss this and you read the archive.

If the window closes you still have the pack — as history. Not as a live conversation.

The comment period is not a path. This company is priced as if that is already true.

The scarce thing is not the company. It is the next a few days of a live conversation.

Window

Closed

Closed. History only — not a place to buy.

Sentences killed: 17
Counsel hours on file: 81
Asks / week: 410
Our cut: 0% of proceeds

The decline pile is a compliment. It means the screen still means something.
Luca Okoye, Chief executive

This company

Maple Vault

Services firms hide in ‘platform’ language. Maple Vault sells a seat plus an event. Named.

In the same conversation

R3 Corda network maps
Hyperledger interop
Public IBC (different threat model)

The bet

Why this company exists.

The wedge is island chains: every extra permissioned deployment is an integration budget.

Every permissioned chain is an island. The second chain a bank turns on creates the ticket. The third creates the vendor.

Every extra permissioned deployment is a new integration budget. This product is that budget.

Versus the field

The incumbent brand sells the relationship. Maple Vault sells the job the brand will not staff. A protocol pitch is the thing this company has already refused. Open-source looks free until the auditor asks who attests.

Named: Lagos. Off-limits: Mainland China retail. A US person hearing an offering communication is a US problem even if the company sits in Lagos. Blocking an IP and taking a US Telegram admin is not a block.

How it works

01A fact is packed as an attestation, not a free-floating asset
02The counterparty chain verifies the packet
03Assets do not ‘bridge’; messages do
04Public connectivity is off unless counsel names it
05The counterparty chain verifies the packet; assets do not ‘bridge’
06A named counterparty verifies; Maple Vault does not attest to its own facts.

In the same conversation as

R3 Corda network maps
Hyperledger interop
Public IBC (different threat model)

If they raise

Where the money would actually go.

Not a token float. A budget against work. RCA Pad still takes 0% of proceeds.

Counsel & perimeter
28%
A counsel memo that can survive a later reader.
Claims & campaign ops
26%
Hiring the operator who already does this job at a licensed firm.
Second market
16%
The remaining certifications and the second named market.
Certifications & adapters
30%
Keeping the public story from running ahead of the claims register.

Operating week

What “in market” actually looks like.

FriKill switchRehearse unpublish in 24 hours. If it takes a committee, it is not a switch.
SunOwnersWho can decide messaging and budget on a recorded line. If the answer is nobody, stop.
WedCounselPerimeter diffs. If the site drifted from the memo, the site moves — not the memo.
SatDarkNo creators. No threads. Restricted geos stay dark.

The wedge

Why this one, not the other one.

They sell: Per packet
Who pays: A treasurer at a bank that already settles — not a crypto-native desk.
Unit economics: Seat plus event. If they ever attach a token as the unit of account, the file stops.
Moat on file: No public endpoint. The threat model holds.
Switching cost: Scheme maps, ISO, LMA language, registry adapters — eighteen months of unglamorous work.
Vs the comps: Public IBC is a different threat model.
Why we listed it: Public connectivity is off unless counsel names it.

Next twelve months

What has to be true.

Two production counterparties.

A redacted engagement letter landed in week one. That is why the desk took the meeting.

They have not asked us to run a sale. That ask would close the file.

Traction

What you can verify today.

Operating notes for Cosmos SDK · permissioned
No token contract listed as a public sale
Pilot letters on file, identities redacted
Lagos is the operating centre
The waitlist, if any, is a product list — not a book
RCA Pad does not take a cut of proceeds

Readiness

Six things a serious buyer asks. 100 is “ready to take to counsel and a customer.”

Product81
Customers96
Legal path84
Tech maturity94
Demand56
Market access44

Risks

What can kill it.

The one that actually kills it

Counsel is a slide

Unnamed counsel is how companies die in diligence. Lagos · counsel-named has to be a memo you can file, not a slogan on the hero.

Bridge in costume

If value moves as a wrapped asset, this is a bridge. Bridges have a history.

Who verifies

A packet nobody independently checks is email.

Public leak

One public endpoint and the threat model is gone.

Standard war

If a bigger FMI publishes the same packet, this is a feature, not a company.

Bridge in costume

If value moves as a wrapped asset, Maple Vault inherits every bridge post-mortem. Kill that design.

Single-customer gravity

If the first named buyer is also the only buyer, Maple Vault is a services shop with a ledger. Ask for the second.

Ask these next

01Who is the first named paying customer — not a letter of intent?
02Where do keys, title, or NAV liability sit — and is that person licensed?
03What happens if a founder later wants a public token?
04Which incumbent can copy this in a quarter, and what would they have to migrate?
05Who can unpublish a public sentence in 24 hours, by name?
06If RCA Pad disappeared tomorrow, could the customer still run the job?

Structure

How money would actually move.

If this company raises, it raises with its own counsel and providers. The waitlist is a product list. It is not a round, a book, or an allocation on RCA Pad. We do not take a cut.

Entity: Maple Vault Ltd
Path on file: Lagos · counsel-named
Posture: No public sale
Pack: Growth

Where they can operate

Named vs off-limits.

Named markets are where a sentence is allowed. Restricted is where it is not. This is not a worldwide offering.

Lagosnamed
Mainland China retailrestricted

Team

Who runs it.

Luca OkoyeChief executive
Noam ShahChief executive

Stack

Cosmos SDK · permissioned
Permissioned interop
Audit log
Disclosure templates

Named with them

Clearline

Who can decide

Luca Okoye came in named. The team is not a handle. Maple Vault Ltd exists, founded 2025, headquartered in Lagos. Anonymity would have been an automatic decline.

Year two is a second named market and the remaining certifications — still permissioned. It is not a public book. A public book would be a different company.

Claims with evidence

Statements with evidence.

Statement	Evidence	Status
Maple Vault does not sell a token to the public on this pad	Posture lock	live
The product is permissioned interop sold to institutions	Architecture + customer type	live
Cosmos SDK · permissioned is the method — not a listed asset	Desk snapshot	live
Retail buyers are out of scope	Named markets lock	live
Any raise completes with the issuer’s counsel and providers — not on RCA Pad	Fixed-fee terms	live
Production date for the chain layer is not committed	No board minute	draft
No public token is sold on this pad	Engagement terms + posture lock	live
Customers contemplated: Lagos	Named markets on the file	live

On the record

Sprint packPackJun
Counsel lockPathJul
Claims register liveRegisterAug
Creator briefBriefSep

Operating log

11 Sep 09:45
Takedown SLA idle-tested.
08 Sep 11:40
A claim held for missing evidence.
04 Sep 08:22
Weekly report issued to the desk.
01 Sep 14:08
Creator set on disclosure. No buy language.

Path to now

Sprint
Pack accepted
Narrative, matrix, claims locked.
Path
Counsel names it
Or the file stays not-offering.
Live
Campaign
Waitlist and register. No purchase journey.

Not a subscription

This is not a sale page.

If this company raises, it raises with its own counsel and providers. The waitlist is a product list. It is not a round, a book, or an allocation on RCA Pad. We do not take a cut. Founders who want a pack like this one apply. Readers who want the company talk to the company — not to this pad.

Launch your own How an RCAICO works

Other companies

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