Property market
How it works

Divisible is not liquid. Here is the missing layer.

A tokenized property still needs someone on the other side of every trade. Mintware is that liquidity: one unit per asset, owned by qualified holders through non-transferable engine shares, with a dated appraisal and permissions enforced by the hook and the issuer's own token.

Built on the standard

Audited
Uniswap Permissioned Pools
The standard for markets with holder rules.Shared market and compliance plumbing.
Built
The issuer
The issuer supplies the asset, holder rules and dated appraisal.This role is a test fixture today.
Live on testnet
Mintware
The shared MarketEngine runs each asset’s market.Our hook enforces appraisal and permission rules.The app brings the unit into view.

Testnet demonstration on Base Sepolia, with a fictional asset and valueless test tokens. Uniswap’s own contracts are audited; Mintware’s composition with them is unaudited.

The property engine is live on Base Sepolia: activated and seeded. Trading is not enabled yet.

The liquidity unit

One engine, one pool, one share class

Liquidity providers
  • Issuer liquidity permission required
  • Contribute property tokens and USDC
  • Receive non-transferable shares
  • Exit with assets in kind
The owned engine
Idle adapters
Property + USDC
Pool
Direct v4 position
One share class · proportional holdings
Dated appraisal · band · issuer permissions
Verified traders
  • Issuer swap permission required
  • Universal Router + Permit2
  • Fresh appraisal and trading enabled
  • Token checks recipients on receipt
Rules the chain enforces

Anchored to the appraisal, by code

Band

Trades stay near the appraisal

Trades stay inside the outer band or narrow the gap toward the appraisal. Fees use the pre-swap band, with a lower fee in the core.

Gap-closing

Corrections still need permission

With a fresh appraisal and trading enabled, a permitted trade outside the band must narrow the gap on the same side. Crossing beyond the opposite boundary is refused.

Appraisal limits

Appraisal changes have limits

Each appraisal update is step-capped, rate-limited and bounded by a rolling 24-hour drift cap.

Timelocks

No instant changes

Rotating the appraisal keeper or changing the band config waits 48 hours once the pool is live.

In-kind exits

Full exits need no appraisal

A full in-kind exit works even after appraisal grace. Incomplete delivery needs a valid grace-period mark and preserves shares for the undelivered value. Issuer transfer restrictions still apply.

Pause

Guardian brake, exits stay open

A guardian can pause trading. Pool removal ignores the pause and permission revocation; delivery remains subject to the property token’s transfer rules.

The issuer keeps
  • The offering and holder eligibility
  • Liquidity and trading permissions
  • The token’s transfer rules
  • Dated appraisal observations and reports
Mintware provides
  • The owned engine and appraisal-banded pool
  • Per-token idle custody adapters
  • Shared engine reads at one chain block
  • Non-transferable shares and in-kind exits
Before real value
Roadmap

Before any real asset: an external audit of the engine and hook, review of venue and holder eligibility, integration with the issuer's production token, and a production deployment.

View archived proof from the previous model →