The wedge
Fund seat
Revocation is the product. Anyone can issue; almost no one can take it back.
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
URNS
Closed
CLOSEDFund identityUrn
Window closed. 4,499 asked while it was live. You are reading history.
The first buyer already has a vendor. Urn is taking that invoice. The queue is 4,499 deep.
Urn — An attestation graph: a fund or investor proves one fact (accredited, name, share-class) to a transfer agent or administrator without handing over the whole file. Selective disclosure is the product.
Closed on this board. Any capital event was completed with the issuer’s own providers. RCA Pad took 0%.
Closed. The live conversation is over. The pack remains as archive.
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
0
Window
Closed
Heat
0/99
Inbound / wk
0asks
Asking now
0live
Named pilots
0
Redacted on the public page
Live nodes
0
Permissioned attestations
Counsel hours
0
Ireland · closed private round
Sentences killed
0
Before listing
Claims live
0/13
Growth
Our cut
0%
Of any proceeds
Plate Vault · 3517
URNS
The plate
Vault. Edition 3517.
A unique plate for Urn. Geometry, orbit, and edition belong to this company — no other listing on the board shares it.
URNS · Dublin · Fund identity
Score
0
Desk diligence
Pilots
0
Named, redacted
Waitlist
0
Product demand
HQ
Dublin
Fund administrators
Sells
Fund
Fund seat
Markets
0
Ireland
Years
0
Founded 2023
Surfaces
0
Permissioned attestations
Complete
0
File readiness
Why the desk took it
A real job, not a ticker.
US retail identity was taken off before we asked.
Traction
4 named pilots (redacted).
Founded 2023, headquartered in Dublin. 4 named pilots on file (identities redacted in public). 4,499 on the waitlist, gated — product demand, not a book built. 19 nodes or connected surfaces reported. Desk diligence score 84/100. 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
Liability sentence in writing: who is wrong when a fact is wrong.
Jumio does not speak share-class. 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.
Most Fund identity decks start with a market size. This one starts with a job: a person at a licensed firm, a record they cannot currently prove, and a calendar that does not wait for a proposed US rule. The calendar is the window. The window is the scarce thing.
The bet is narrow. A named Dublin buyer already has budget for this invoice. Urn 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.
A dual-control drill sits on paper. Keys, title, or NAV liability sit with a named licensed party — not Urn. The architecture says so. We have not watched the drill live. That is the next ask, not a slogan.
From the pilot
The legal source of truth stays with the incumbent register, admin, or custodian. Urn does not attest to its own facts.
From ops
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 screen
We will not describe this as Reg CA-compliant, MiCA-stickered, or FCA-authorised. Issuers retain their own counsel in every relevant jurisdiction.
The window
Miss this and you read the archive.
A later reader gets the same PDF. They do not get the same access.
Counsel hours on file: enough that a later reader can tell this was not improvised.
The scarce thing is not the company. It is the next 0 days of a live conversation.
Window
Closed
Closed. History only — not a place to buy.
- Sentences killed
- 13
- Counsel hours on file
- 61
- Asks / week
- 562
- Our cut
- 0% of proceeds
Renewal is the round. If nobody renews, there is no company. A token would not fix that.
This company
Urn
Twelve Fund identity decks look the same. One of them has a Dublin customer on the record.
In the same conversation
- Onfido / Jumio for people
- Fund-admin KYC teams
- W3C attestations
- Not a ‘passport token’
The bet
Why this company exists.
Revocation is the product. Anyone can issue; almost no one can take it back.
Revocation is the product. Anyone can issue; almost no one can take it back.
Transfer agents and AIFMs are being asked for faster onboarding without becoming identity companies. Attestations they can revoke are the compromise.
Fund onboarding cost is a known line item. A 20–40% cut in cycle time is a budget, not a vision deck.
Versus the field
The incumbent brand sells the relationship. Urn 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.
The live path is Ireland · closed private round. Proposed Regulation Crypto Assets is not treated as a calendar slot. Build as if it never opens.
How it works
- 01A fact is attested by a party the recipient already trusts
- 02The holder discloses only the field requested
- 03The rest of the file stays dark
- 04Revocation is a first-class event
- 05The recipient never sees the rest of the file — selective disclosure is enforced, not promised
- 06Retail and unnamed geographies are structurally off the form, not only in the footer.
In the same conversation as
- Onfido / Jumio for people
- Fund-admin KYC teams
- W3C attestations
- Not a ‘passport token’
If they raise
Where the money would actually go.
Not a token float. A budget against work. RCA Pad still takes 0% of proceeds.
Named operators
37%
Hiring the operator who already does this job at a licensed firm.
Second market
25%
A counsel memo that can survive a later reader.
Control environment
19%
Dual-control drills, key ceremonies, and the person who owns them.
Counsel & perimeter
19%
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.
- WedCounselPerimeter diffs. If the site drifted from the memo, the site moves — not the memo.
- SunOwnersWho can decide messaging and budget on a recorded line. If the answer is nobody, stop.
- ThuCustomerNamed pilot (redacted) sees the same record the auditor saw.
The wedge
Why this one, not the other one.
- They sell
- Fund seat
- 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
- Revoke has been tested against a live register.
- Switching cost
- Once the record is the record, the incumbent copy has to migrate history. That is the year.
- Vs the comps
- Jumio does not speak share-class.
- Why we listed it
- US retail identity was taken off before we asked.
Next twelve months
What has to be true.
Liability sentence in writing: who is wrong when a fact is wrong.
No public APY, no public book, no ‘how to buy’ on any surface we could find.
If they raise, it is to hire the remaining certifications and the second market — not to float a coin.
Traction
What you can verify today.
Founded 2023, headquartered in Dublin. 4 named pilots on file (identities redacted in public). 4,499 on the waitlist, gated — product demand, not a book built. 19 nodes or connected surfaces reported. Desk diligence score 84/100. 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 Permissioned attestations
- No token contract listed as a public sale
- Pilot letters on file, identities redacted
- Dublin is the operating centre
- The waitlist, if any, is a product list — not a book
- Raise, if any, closed with issuer providers
Readiness
Six things a serious buyer asks. 100 is “ready to take to counsel and a customer.”
- Product95
- Customers96
- Legal path84
- Tech maturity85
- Demand62
- Market access90
Risks
What can kill it.
The one that actually kills it
The named customer is a letter of intent
Pilots that cannot be named, even redacted, are theatre. One paying seat that an auditor has seen is worth more than a waitlist of 4,499.
Who attests
If the attester is the company itself, this is a database with extra steps.
Portability theatre
A graph nobody else reads is a PDF with a hash.
US
US retail identity products are a different statute. Many of these files keep the US off.
Utility token
Paying for attestations in a native token is usually a securities problem in costume.
Self-attestation
If Urn is the attester, this is a database with extra steps. The graph only matters if someone else signs.
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
- 01Is the waitlist demand for a product, or a queue for a coin?
- 02If RCA Pad disappeared tomorrow, could the customer still run the job?
- 03Who can unpublish a public sentence in 24 hours, by name?
- 04What happens if a founder later wants a public token?
- 05What does renewal look like if no round ever happens?
- 06Has counsel written the perimeter in a memo you can file?
Structure
How money would actually move.
Window closed. Tombstone is theirs. Archive is ours. 0% of proceeds.
- Entity
- Urn DAC
- Path on file
- Ireland · closed private round
- Posture
- Window closed
- 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.
- Irelandnamed
- EEA professionalnamed
- United Kingdomnamed
- EU retailrestricted
- United Statesrestricted
Team
Who runs it.
- Noam EllisonChief executive
Stack
- Permissioned attestations
- Fund identity
- Approval trail
- Takedown SLA
Named with them
- Northbridge Counsel
- Helix Audit
- Clearline
Who can decide
Noam Ellison came in named. The team is not a handle. Urn DAC exists, founded 2023, headquartered in Dublin. 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 |
|---|---|---|
| Urn does not sell a token to the public on this pad | Posture lock | withdrawn |
| The product is fund identity sold to institutions | Architecture + customer type | withdrawn |
| Permissioned attestations is the method — not a listed asset | Desk snapshot | withdrawn |
| Retail buyers are out of scope | Named markets lock | withdrawn |
| Any raise completes with the issuer’s counsel and providers — not on RCA Pad | Fixed-fee terms | withdrawn |
| Production date for the chain layer is not committed | No board minute | withdrawn |
| No public token is sold on this pad | Engagement terms + posture lock | withdrawn |
| Customers contemplated: Ireland, EEA professional, United Kingdom | Named markets on the file | withdrawn |
On the record
- Final registerArchiveAug
- Close reportReportAug
- Tombstone copyArchiveAug
Operating log
19 Aug 10:00
Close report. 0% of proceeds.
12 Aug 18:00
Urn archived. Live claims withdrawn.
11 Aug 09:30
Final creator pass. Residual claims pulled.
Path to now
Open
File
Before any public sentence.
Close
Archive
We did not take a cut.
Not a subscription
This is not a sale page.
Window closed. Tombstone is theirs. Archive is ours. 0% of proceeds. Founders who want a pack like this one apply. Readers who want the company talk to the company — not to this pad.
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.