RCA Pad
VELMVellum Protocol8,420 waitlistKITEKite Ledger2,190 waitlistPLSDPalisade ID1,640 waitlistNRTLNorthlineDay 8 of 14SABLSable RailDay 5 of 14QULLQuill MarketsDay 11 of 14CDWLCinder Well6,947 waitlistHRTNHartline8,787 waitlistOBSNObsidian Rail4,416 waitlistFENLFen Clearing1,060 waitlistLUMNLumen Books5,510 waitlistRDCTRedact ID6,485 waitlistHRBNHarbor NAV6,973 waitlistQLTDQuilt1,876 waitlistNMBMNimbus Match7,864 waitlistBRASBrass4,166 waitlistSLSTSolstice Credit9,342 waitlistWLTRWillow Transfer7,031 waitlistEMBREmber Registry2,487 waitlistNQAYNorth Quay2,013 waitlistKLNSKiln4,412 waitlistGLSHGlass HouseDay 8 of 14IRNPIron PierDay 1 of 14PLFRPale FireDay 3 of 14VELMVellum Protocol8,420 waitlistKITEKite Ledger2,190 waitlistPLSDPalisade ID1,640 waitlistNRTLNorthlineDay 8 of 14SABLSable RailDay 5 of 14QULLQuill MarketsDay 11 of 14CDWLCinder Well6,947 waitlistHRTNHartline8,787 waitlistOBSNObsidian Rail4,416 waitlistFENLFen Clearing1,060 waitlistLUMNLumen Books5,510 waitlistRDCTRedact ID6,485 waitlistHRBNHarbor NAV6,973 waitlistQLTDQuilt1,876 waitlistNMBMNimbus Match7,864 waitlistBRASBrass4,166 waitlistSLSTSolstice Credit9,342 waitlistWLTRWillow Transfer7,031 waitlistEMBREmber Registry2,487 waitlistNQAYNorth Quay2,013 waitlistKLNSKiln4,412 waitlistGLSHGlass HouseDay 8 of 14IRNPIron PierDay 1 of 14PLFRPale FireDay 3 of 14
Board

SEDH

In diligence
IN MOTIONRoyalty admin

Sedge Yard

Window a fewd · waitlist a short list · our cut 0%. Do the maths.

Inbound this week: 31. That is demand for a job someone already pays for — not a book.

Sedge Yard — A ledger of energy certificates (GOs, RECs) for producers and offtakers who already sit in a national registry. It moves the event faster. It does not invent a green token for Twitter.

In a 14-day diligence sprint (day 10). This is when the story, the customers and the legal path get written down — or the file stops.

Window a fewd. Waitlist a short list. 31 asks this week. This is not a quiet listing.

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

Sprint day

0/14

Window

Closed

Heat

0/99

Inbound / wk

0asks

Asking now

0live

Named pilots

0

Redacted on the public page

Live nodes

0

Rights ledger

Counsel hours

0

Not offering — locked

Sentences killed

0

Before listing

Claims live

4/9

Sprint

Our cut

0%

Of any proceeds

Plate Vault · 7588

SEDH

The plate

Vault. Edition 7588.

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

SEDH · Milan · Royalty admin

Score

0

Desk diligence

Pilots

0

Named, redacted

Sprint

0

Day 10 of 14

HQ

Milan

Producers

Sells

Offtaker

Offtaker portal

Markets

0

Milan

Years

0

Founded 2021

Surfaces

0

Rights ledger

Complete

0

File readiness

The wedge

Offtaker portal

The wedge is double-counting: corporate offtakers are being asked to prove what they bought.

Why the desk took it

A real job, not a ticker.

No public token representing a tonne. We searched.

Traction

2 named pilots (redacted).

Founded 2021, headquartered in Milan. 2 named pilots on file (identities redacted in public). 7 nodes or connected surfaces reported. Desk diligence score 77/100. Sprint day 10 of 14. A warehouse or port that has written a live event. No public APY, no public book, no ‘how to buy’ on any surface we could find.

Next 12 months

Counsel on commodity vs software — one memo.

A public carbon coin is a commodity or a security. This pad will not sell it. 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.

Someone in Milan already renewed a slower vendor this year. Sedge Yard is the conversation that happens before they do it again. Miss this cycle and you explain the next one.

The bet is narrow. A named Milan buyer already has budget for this invoice. Sedge Yard wins if it is cheaper than the internal build and cleaner than the protocol pitch. It loses if a founder later wants a public book. The window is the time you have to decide which it is.

The auditor of a redacted pilot has seen a dual-record. Switching away now means a new auditor conversation. That is the switching cost — not the logo.

From the screen

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.

From the founder

Fixed fee. Deposit to start. 0% of proceeds. Token-only pay is declined. Percentage of raise is declined.

From the pilot

A dual-control drill exists on paper. Production evidence is the next artefact, not a tweet.

The window

Miss this and you read the archive.

Waiting for a proposed US rule is how you miss a Milan buyer who already has budget.

a short list people did not join a waitlist for a ticker. They joined for a job.

Open the diligence or watch it close. There is not a third option that still counts as early.

Window

Closed

Closed. History only — not a place to buy.

Sentences killed
13
Counsel hours on file
32
Asks / week
31
Our cut
0% of proceeds

If RCA Pad ever asked for a cut of a raise, we would walk. That is in the first email.

Amira Voss, Chief executive

This company

Sedge Yard

A generalist vendor copies the slide. They cannot copy the named record.

In the same conversation

  • National GO registries
  • Xpansiv
  • Not a public carbon coin

The bet

Why this company exists.

The wedge is double-counting: corporate offtakers are being asked to prove what they bought.

The wedge is double-counting: corporate offtakers are being asked to prove what they bought.

Corporate offtakers are being asked to prove what they bought. Registries lag. A dual record that the registry still owns is sellable.

GO and REC markets are measured in tens of billions. Ops software is a thin slice with high switching costs.

Versus the field

L2 wrappers are cheaper. They are also a different perimeter — and declined here. Sedge Yard is priced as software against an invoice that already exists.

Milan being the city does not make local retail a default audience. Communications capable of inducing investment activity still have a promotions problem.

How it works

  1. 01A certificate that exists in a registry is evented here
  2. 02Delivery and retirement are visible to the offtaker
  3. 03The registry remains the legal source
  4. 04No public ‘carbon token’ sale on this pad
  5. 05Delivery and retirement are visible to the offtaker; the registry remains source
  6. 06The legal source of truth stays with the incumbent register, admin, or custodian.

In the same conversation as

  • National GO registries
  • Xpansiv
  • Not a public carbon coin

If they raise

Where the money would actually go.

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

  • Second market

    36%

    Dual-control drills, key ceremonies, and the person who owns them.

  • Named operators

    21%

    The remaining certifications and the second named market.

  • Certifications & adapters

    22%

    Adapter work against the incumbent register, admin, or custodian.

  • Claims & campaign ops

    21%

    A counsel memo that can survive a later reader.

Operating week

What “in market” actually looks like.

  1. MonClaimsEvery public sentence checked against the register. Anything extra is unpublished.
  2. WedCounselPerimeter diffs. If the site drifted from the memo, the site moves — not the memo.
  3. SunOwnersWho can decide messaging and budget on a recorded line. If the answer is nobody, stop.
  4. SatDarkNo creators. No threads. Restricted geos stay dark.

The wedge

Why this one, not the other one.

They sell
Offtaker portal
Who pays
A warehouse or port that has written a live event.
Unit economics
Seat plus event. If they ever attach a token as the unit of account, the file stops.
Moat on file
A national registry is a counterpart, not a scrape.
Switching cost
The customer’s auditor has seen this book. Switching means a new auditor conversation.
Vs the comps
A public carbon coin is a commodity or a security. This pad will not sell it.
Why we listed it
No public token representing a tonne. We searched.

Next twelve months

What has to be true.

Counsel on commodity vs software — one memo.

No public APY, no public book, no ‘how to buy’ on any surface we could find.

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

Traction

What you can verify today.

Founded 2021, headquartered in Milan. 2 named pilots on file (identities redacted in public). 7 nodes or connected surfaces reported. Desk diligence score 77/100. Sprint day 10 of 14. A warehouse or port that has written a live event. No public APY, no public book, no ‘how to buy’ on any surface we could find.

  • Operating notes for Rights ledger
  • No token contract listed as a public sale
  • Pilot letters on file, identities redacted
  • Milan 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.”

  • Product63
  • Customers62
  • Legal path62
  • Tech maturity57
  • Demand58
  • Market access68

Risks

What can kill it.

The one that actually kills it

The founder wants a public book

The moment Sedge Yard asks this pad to allocate, sell, or complete funding, the listing ends. That is not a moral project. It is how a services firm stays a services firm.

Double count

If the registry and this ledger can both be sold, the product is a liability.

Green token

A freely traded climate token is usually a commodity or a security. This pad will not sell it.

Registry cooperation

Without the registry, this is a shadow certificate.

Policy

GO rules move. The product has to move with them, not ahead of them.

Double count

If the registry and this ledger can both be sold, Sedge Yard is a liability. Dual-record or nothing.

Path silence

If counsel will not name a path and not-offering is not locked, heated waitlist copy is an accidental offering.

Ask these next

  1. 01Which geography is actually locked, and which is a hope?
  2. 02If RCA Pad disappeared tomorrow, could the customer still run the job?
  3. 03Which incumbent can copy this in a quarter, and what would they have to migrate?
  4. 04Where do keys, title, or NAV liability sit — and is that person licensed?
  5. 05Is the waitlist demand for a product, or a queue for a coin?
  6. 06What does renewal look like if no round ever happens?

Structure

How money would actually move.

Sprint is diligence, not a raise. A pack at the end is a file the company can take to its own lawyers and investors. RCA Pad does not complete funding.

Entity
Sedge Yard Ltd
Path on file
Not offering — locked
Posture
No public sale
Pack
Sprint

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.

  • Milannamed
  • United Kingdomnamed
  • Mainland China retailrestricted

Team

Who runs it.

  • Amira VossChief executive
  • Nadia MbekiChief executive

Stack

  • Rights ledger
  • Royalty admin
  • Takedown SLA

Named with them

  • Helix Audit
  • Clearline

Who can decide

Amira Voss came in named. The team is not a handle. Sedge Yard Ltd exists, founded 2021, headquartered in Milan. Anonymity would have been an automatic decline.

If the first customer renews, the adapter work pays for itself. If they do not, Sedge Yard is a services firm with a slide. The twelve-month test is renewal, not waitlist.

Claims with evidence

Statements with evidence.

StatementEvidenceStatus
Sedge Yard does not sell a token to the public on this padPosture locklive
The product is royalty admin sold to institutionsArchitecture + customer typelive
Rights ledger is the method — not a listed assetDesk snapshotlive
Retail buyers are out of scopeNamed markets locklive
Any raise completes with the issuer’s counsel and providers — not on RCA PadFixed-fee termslive
Production date for the chain layer is not committedDesk filedraft
No public token is sold on this padEngagement terms + posture locklive
Customers contemplated: Milan, United KingdomNamed markets on the filelive

On the record

  1. Day 0 lockKick-offSep
  2. Claim inventoryPackSep
  3. Audience matrix draftPackSep

Operating log

  1. 11 Sep 14:19

    Workshop. Funnel has no purchase step.

  2. 08 Sep 09:00

    Kick-off. Exclusions recorded.

  3. 09 Sep 16:20

    A claim killed for missing evidence.

Path to now

  1. D0

    Kick-off

    Geographies, owners, SLA, exclusions.

  2. D14

    Read-out

    Accept the pack or stop.

Not a subscription

This is not a sale page.

Sprint is diligence, not a raise. A pack at the end is a file the company can take to its own lawyers and investors. RCA Pad does not complete funding. 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

VELMVellum ProtocolSettlement rails for private credit funds. Campaign live. No public token sale.KITEKite LedgerTrade-finance records on a permissioned L2. Live waitlist. Allocation is not on this pad.PLSDPalisade IDPermissioned identity for funds. Live in the EEA professional lane. No token, no sale.NRTLNorthlineOn-chain fund admin. Day 8 of 14. The pack is the product. Pathway locked: not offering.