> For the complete documentation index, see [llms.txt](https://tunakings-organization.gitbook.io/tuna-rwa-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://tunakings-organization.gitbook.io/tuna-rwa-docs/value-anchoring/underlying-assets.md).

# Underlying Assets

## Three Core Anchor Assets

| Assets                                 | Details                                                                                                                                                                                                                                                        | Indicative Valuation\*                                                                                                                                                                                                                                                           |
| -------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| **Physical Tuna & Fishing Quota**      | 10 t Southern Bluefin Tuna (SBT) export price ≈ **US $252,800**                                                                                                                                                                                                | <p>Quota is pledged to the SPV, which mints tokens at TGE; an equivalent amount of quota-backed tuna is reserved for physical redemption.<br>Real ITQ under AFMA supervision gives full price transparency; if the market collapses, holders may “cash-out to fish” at cost.</p> |
| **Tuna-Peptide Functional Ingredient** | <p>Enzymatic SBT peptides show <strong>> 90 % free-radical scavenging</strong> in vitro<br></p>                                                                                                                                                                | <p>10 % of TunaLabs R\&D fund earmarked for peptide commercialisation.<br>Use-cases in anti-oxidation, anti-aging, and sports recovery—LOIs secured with marathon, football, power-lifting, swimming, and CrossFit teams.</p>                                                    |
| **Drug IP — Plasmalogen**              | <p>Plasmalogen deficiency is an Alzheimer’s marker; oral precursor <strong>PPI-1011</strong> raised plasma levels in Phase I/II<br>; Gates Foundation & Alzheimer’s Association funded <strong>US $60 m</strong> across 19 high-risk, high-reward projects</p> | <p>Joint patent on plasmalogen therapeutics with an Australian institute.<br>100 % of royalty income devoted to token buy-backs. Clinical success could deliver “10×-scale” IP re-rating.</p>                                                                                    |

\* Indicative valuations are snapshot estimates and not guarantees.

> **Complementarity:** If tuna prices fall, peptide and IP profits can still enlarge buy-back budgets; if the drug candidate fails, quota and fish remain fully redeemable.

## Asset-Linkage Structure

| Tier                                | Vehicle / Registry         | Purpose                                                                         |
| ----------------------------------- | -------------------------- | ------------------------------------------------------------------------------- |
| **① National TAC → Australian ITQ** | CCSBT / AFMA               | Sets the total allowable catch and allocates the national quota share.          |
| **② SPV-Pledged ITQ**               | AFMA SFR Transfer Registry | Isolates the asset within the SPV and enables collateralisation or leasing.     |
| **③ TUNA Token**                    | Solana smart contracts     | Provides on-chain title, secondary-market liquidity, and dividend distribution. |

> **One-liner:** The token is pegged to live-fish quota rights and their cash flows; any over-harvest automatically freezes quota in the contract, ensuring compliance with MSC sustainability standards.

## Innovation Highlights & Stability Drivers

| Dimension                 | Innovation Point                                                                                          | Stability / Growth Mechanism                                                     |
| ------------------------- | --------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------- |
| **Multi-Layer Anchoring** | Quota inventory + high-margin peptides + drug IP                                                          | Low correlation across assets spreads risk of any single market shock.           |
| **Vertical Integration**  | End-to-end chain: catch → hydrolysis → nutraceutical → Rx drug                                            | Full-stack profit funneled to the Foundation, sustaining buy-back “ammunition.”  |
| **Research Backing**      | Partnerships with Zhejiang University; projects co-funded by Gates Foundation and Alzheimer’s Association | Academic validation de-risks IP valuation volatility.                            |
| **Physical Safeguard**    | Redeemable for real fish or canned products                                                               | Creates a three-way off-ramp: *cash ↔ warehouse receipt ↔ token*.                |
| **DAO Governance**        | Floor price, buy-back ratio, and R\&D budgets all decided on-chain                                        | Community control reduces information asymmetry and aligns long-term incentives. |

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Disclaimer

All conversion rates, buy-back ratios, and burn projections reflect the current business model. Actual execution will depend on quota prices, product sales, FX rates, and DAO resolutions. Nothing herein constitutes a guarantee of returns or investment advice.
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