OPWA Protocol

Real estate tokenization on Bitcoin Layer 1, powered by OP_NET.

Fractional property ownership using native BTC — no bridges, no wrapped assets, no custodians.

App · Explorer · Whitepaper · OP_NET

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Overview

OPWA Protocol enables compliant real estate tokenization on Bitcoin Layer 1. Property owners list assets on-chain; investors acquire fractional ownership using native BTC — no intermediary token, no bridge, no wrapped asset required.

Rental yield is distributed on-chain in USDOP (protocol stablecoin) via a pull-model distributor, proportional to each holder's fraction balance. The complete lifecycle — listing, funding, lock, yield distribution, and refund — is enforced by immutable smart contracts on OP_NET.

The protocol introduces four financial instruments with strictly non-overlapping roles:

Token	Standard	Role	Supply
OPWACoin (OPWA)	OP-20	Protocol governance. Fixed supply.	1B fixed
OPWAYield (OPWAY)	OP-20	Protocol bond. Stake in YieldVault → ~15% APY in USDOP.	Dynamic
FractionToken	OP-1155	Fractional property ownership. Each tokenId = one property. Funded with native BTC.	Per-property cap
USDOP	OP-20	Yield stablecoin. Minted on yield events. Distributed to stakers and fraction holders.	Mint-on-yield

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Architecture

Investor ──BTC──▶ FractionToken.invest(tokenId, amount)
                        │
                        ├─ BTC routed to Treasury P2TR (on-chain verified)
                        └─ FractionToken(tokenId) minted to investor wallet

Property Owner ──▶ PropertyVaultV2.listProperty(nftId, maxSupply, name)
                        │
                        ├─ Listing fee collected on-chain
                        └─ FractionToken.listProperty() called atomically

OPWA Operator ──▶ YieldDistributor.distributeYield(tokenId, usdopAmount)
                        │
                        └─ yieldPerShare[tokenId] += amount / totalSupply

Holder ──────────▶ YieldDistributor.claim(tokenId)
                        │
                        └─ Receives: (balance × yieldPerShare) − alreadyClaimed

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Deployed Contracts — OP_NET Testnet

Contract	Address	Standard
OPWACoin	opt1sqz822pny75gqn9hp6w5rt26p5kawdqq64vh758d7	OP-20
OPWAYield	opt1sqrr0c9la0l38k9przlqsxkxs7ga4dzpxavkus34c	OP-20
USDOP	opt1sqpmsahd5gaz3zn4lx0m3knqqpmh0ymhxhu79h5qd	OP-20
YieldVault	opt1sqqu555rqasywflqwdu3t4h8emx8khggteutnlcen	Custom
FractionToken	opt1sqzy4tnjevxmpadj5jk8qlqemn48lhtp2nvz98fuk	OP-1155
PropertyVaultV2	opt1sqz8ppz4r2lu3uekqk5u5j6ys7j84qw249q444vk5	Custom
YieldDistributor	opt1sqre99rget5vudhp4mcte3uu82t42jk45nqq2wnhw	Custom
Treasury P2TR	opt1pv5z0n6gn0n8szljp7dewl52548zyvt48pt406cl607wen22amalqfpft8p	P2TR

Canonical source of truth: contracts/deployed-addresses.json

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Protocol Parameters

Parameter	Value	Notes
Price per fraction	1,000 sats	Fixed. Native BTC.
Funding deadline	25,920 blocks	~180 days from listing
Lock period	6,480 blocks	~45 days from full funding
Listing fee (fixed)	0.001 BTC	Paid by property owner
Listing fee (variable)	0.5%	Of total property value
Capital raise fee	1.5%	Deducted at claimProceeds()
Annual management fee	1.0%	On total property value per year
Performance fee	10%	On yield distributed

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Property Lifecycle

ACTIVE      Funding open. Investors call invest(tokenId, amount).
    │
    ▼  100% funded
FUNDED      Lock period active (~45 days).
    │
    ▼  Lock expires
COMPLETED   Proceeds released. Rental distribution begins.
    │
    ▼  Deadline without full funding
REFUNDABLE  Investors recover BTC via refund(tokenId).

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Repository Structure

OPWABTC/
├── contracts/
│   ├── op20/
│   │   ├── OPWACoin.ts              # Governance token (OP-20)
│   │   ├── OPWAYield.ts             # Protocol bond (OP-20)
│   │   └── USDOP.ts                 # Yield stablecoin (OP-20)
│   ├── op1155/
│   │   └── FractionToken.ts         # Fractional property ownership (OP-1155)
│   ├── vault/
│   │   ├── PropertyVaultV2.ts       # Property listing and lifecycle
│   │   ├── YieldVault.ts            # OPWAY staking vault
│   │   └── YieldDistributor.ts      # Rental yield distributor
│   ├── build/                       # Compiled WASM artifacts
│   └── deployed-addresses.json      # Canonical contract addresses
├── scripts/
│   ├── redeploy-fraction-token.ts   # Full redeploy script
│   ├── configure-and-list.ts        # Post-deploy configuration
│   ├── list-properties-opwa.ts      # Property listing helper
│   └── _verify-properties.ts        # On-chain verification
├── docs/
│   ├── whitepaper-v2.md             # Protocol whitepaper
│   ├── CONTRACTS.md                 # Contract interface reference
│   └── security-model.md            # Threat model and mitigations
├── audits/                          # Security audit reports
├── index.html                       # Production frontend (single file)
├── AGENTS.md                        # Rules for AI coding agents
├── SECURITY.md                      # Vulnerability disclosure policy
└── vercel.json                      # Deployment config and security headers

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Stack

Layer	Technology
Contracts	AssemblyScript + @btc-vision/btc-runtime → WASM on OP_NET
Token Standards	OP-20 (fungible), OP-1155 (multi-token fractions)
Frontend	Vanilla JS/HTML — single file, zero framework dependencies
RPC	https://testnet.opnet.org
Explorer	opscan.org
Deployment	Vercel — push to main triggers auto-deploy

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Development

Prerequisites

• Node.js ≥ 18
• An OP_NET testnet wallet with BTC testnet funds
• OPNET_MNEMONIC environment variable (see .env.example)

Build Contracts

cd contracts
npm install
npm run build

⚠️ Required patches after npm install: Two patches must be re-applied to @btc-vision/btc-runtime after any fresh install:

1. runtime/script/Networks.ts — case Testnet: return 'opt' (not 'tb')
2. runtime/global.ts — remove declare function verifySchnorrSignature

These patches ensure correct bech32 HRP encoding for OP_NET Testnet addresses.

Compile FractionToken

cd contracts
npx asc op1155/index.ts --target fractionToken --measure --uncheckedBehavior never

⚠️ Always use this exact command. Running asc FractionToken.ts --optimize produces a corrupted WASM (~6,880 bytes). The correct output is ~29,177 bytes with the opt HRP string present.

Deploy Order

# 1. Deploy FractionToken
OPNET_MNEMONIC='...' npx tsx scripts/redeploy-fraction-token.ts

# 2. Configure and list properties
OPNET_MNEMONIC='...' npx tsx scripts/configure-and-list.ts <FRACTION_TOKEN_ADDR>

# 3. Verify on-chain
OPNET_MNEMONIC='...' npx tsx scripts/_verify-properties.ts

Run Frontend Locally

npx serve .
# or simply open index.html

No build step required.

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Security

• Security audit reports: /audits
• Vulnerability disclosure: SECURITY.md
• Never commit mnemonics or private keys — see .env.example
• All financial state transitions are enforced on-chain — no admin override paths

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Links

🌐 Application	opwa-protocol.vercel.app
🔍 Explorer	opscan.org
📄 Whitepaper	docs/whitepaper-v2.md
📦 OP_NET	opnet.org

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License

MIT — see LICENSE

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_{Bitcoin is the settlement layer. OP_NET is the execution layer. OPWA is the ownership layer.}