ACT Layer

ACT belongs not to the admission layer, but to a separate layer of accounting and provability of actual resource participation.

ACT answers the question: which resource was actually engaged, by whom, where, and in what context.

ACT fixes actual resource participation. It does not fix admission to participation.

ACT is a neighboring layer of actual resource participation, not a sublayer of token mechanics.

Qualification boundary

ACT does not belong to the crypto-asset.

ACT is not a utility token.

ACT is not an asset-referenced token (ART).

ACT is not an electronic money token (EMT).

ACT is not a digital representation of value.

ACT is not a digital representation of right.

No admission to participation, no right, no income, and no claim to assets follow from ACT.

ACT:

is not an admission token;
does not provide access;
does not create rights;
does not create ownership;
is not a state artifact;
is not the canonical outcome of an epoch;
is not a source of income, interest, dividends, or profit participation;
does not grant rights to liquidation residue, reserves, treasury, or other assets of the issuing party;
is not a token backed by a reserve of assets, official currency, or a basket of assets;
is not intended to maintain stable value;
does not grant a redemption right at par or at another predetermined reference value.

The ACT layer does not create a regime of service intermediation with crypto-assets.

ACT does not hold or administer crypto-assets on behalf of clients.

ACT does not operate a trading platform for crypto-assets.

ACT does not exchange crypto-assets for money.

ACT does not exchange crypto-assets for other crypto-assets.

ACT does not execute orders in crypto-assets on behalf of clients.

ACT does not place crypto-assets.

ACT does not receive or transmit orders in crypto-assets on behalf of clients.

ACT does not provide advice on crypto-assets.

ACT does not manage crypto-asset portfolios.

ACT does not transfer crypto-assets on behalf of clients.