DRAM

If your website is on the scam list and you think that you are not a scammer, contact us. After you provide us with all the proof that you are in Crypto World with good intentions, we will delist you. Usually, you get in this category because you are hiding your team, you have a bad reputation(you are tricking, deceiving, scamming people), and you haven't got a written project whitepaper or is a shitty one....

Their Official site text:

OCTOBER 2023

PLEASE READ THE ENTIRETY OF THIS “DISCLAIMER" SECTION CAREFULLY.

NOTHING HEREIN CONSTITUTES LEGAL, FINANCIAL, BUSINESS OR TAX ADVICE

AND YOU SHOULD CONSULT YOUR OWN LEGAL, FINANCIAL, TAX OR OTHER

PROFESSIONAL ADVISOR(S) BEFORE ENGAGING IN ANY ACTIVITY IN CONNECTION

HEREWITH. NEITHER DRAM TRUST NOR ANY AFFILIATES, EMPLOYEES, OFFICERS,

OR THE LIKE WHO HAVE HELPED TO DEVELOP DRAM IN ANY WAY WHATSOEVER,

ANY DISTRIBUTOR/VENDOR OF DRAM, NOR ANY SERVICE PROVIDER SHALL BE

LIABLE FOR ANY KIND OF DIRECT OR INDIRECT DAMAGE OR LOSS WHATSOEVER

WHICH YOU MAY SUFFER IN CONNECTION WITH ACCESSING THIS PAPER OR ANY

OTHER WEBSITES OR MATERIALS PUBLISHED BY DRAM TRUST.

Disclaimers

Nature of the Paper The paper is intended for general informational purposes only and does not constitute

a prospectus, an offer document, an offer of securities, a solicitation for investment,

or any offer to sell any product, item or asset (whether digital or otherwise). The

information herein may not be exhaustive and does not imply any element of a

contractual relationship. There is no assurance as to the accuracy or completeness of

such information and no representation, warranty or undertaking is or purported to be

provided as to the accuracy or completeness of such information. Where the paper

includes information that has been obtained from third party sources, DRAM Trust

has not independently verified the accuracy or completeness of such information.

Further, you acknowledge that circumstances may change and that the paper may

become outdated as a result; DRAM Trust is not under any obligation to update or

correct this document in connection therewith.

DRAM Token Documentation

Informational purposes only

Regulatory approval

Nothing in the paper constitutes any offer to sell any DRAM nor shall it or any part of

it nor the fact of its presentation form the basis of, or be relied upon in connection

with, any contract or investment decision. Nothing contained in the paper is or may

be relied upon as a promise, representation or undertaking as to the future of DRAM.

The agreement to acquire DRAM is governed by a separate User Agreement. No

person is bound to enter into any contract or binding legal commitment in relation to

the acquisition of DRAM, and no virtual currency or other form of payment is to be

accepted on the basis of the paper.

The information set out herein is only conceptual, and describes the future

development goals of DRAM. In particular, the project roadmap in the paper is being

shared in order to outline some of the plans of DRAM, and is provided solely for

INFORMATIONAL PURPOSES and does not constitute any binding commitment.

Please do not rely on this information in deciding whether to participate in the token

distribution because ultimately, the development, release, and timing of any products,

features or functionality remains at the sole discretion of DRAM Trust, and is subject

to change. Further, the paper may be amended or replaced from time to time. There

are no obligations to update the paper, or to provide recipients with access to any

information beyond what is provided herein.

No regulatory authority has examined or approved, whether formally or informally, of

any of the information set out in the paper. No such action or assurance has been or

will be taken under the laws, regulatory requirements or rules of any jurisdiction. The

publication, distribution or dissemination of the paper does not imply that the

applicable laws, regulatory requirements or rules have been complied with.

02

03

INTRODUCTION

The one thing that’s missing, but that will soon be developed, is a

reliable e-cash, a method whereby on the internet you can transfer

funds from A to B without A knowing B or B knowing A. The way I can

take a US$20 bill, hand it over to you and then there’s no record of

where it came from. You may get that without knowing who I am.

That kind of thing will develop on the internet.

Milton Friedman


Economist and Nobel Prize Recipient in Economics, 1999

Blockchains are the answer to a single layer ‘plug-and-play’ global settlement network.

And stablecoins are the avenue to this democratized form of ‘e-cash’, in a world where

digital currencies can universally empower everyone.

This paper introduces DRAM, a new digital stablecoin. DRAM is the acronym for ‘Dynamic

Random-Access Memory’, a simplified semiconductor memory that enables greater data

storage, over a lesser surface area, at a lower cost, and was an important innovation in the

early days of computing. This is the inspiration for the name of the stablecoin, which in

this case stands for ‘Dynamic Random-Access Money’.

DRAMs are issued by Hong Kong law governed DRAM Trust, which is built on the

following five pillars: (1) asset backing, (2) auditability, (3) scalability, (4) stability, and (5)

transparency. We believe DRAMs are the gateway to a balanced, equitable, and

decentralized financial ecosystem that is accessible to everyone globally.

Stablecoins

In the payments sector, stablecoins have seen rapid expansion

in their use as global payments rails3. In 2022 alone, more than

US$11 trillion were settled on the blockchain using stablecoins.

This dwarfs payment volumes processed by PayPal and nears

Visa’s volumes of US$11.6 trillion, according to asset

management firm Brevan Howard4. Based on the number of

individual transactions metrics, stablecoins were used for on–

chain settlements by a factor of six greater than Fedwire but still

account for less than 1% compared to Visa.

These metrics indicate the future potential for stablecoins in

global payments, with existing and new protocols being further

optimized to power a settlement layer on the public blockchain

at minimal fees per transaction.

At their core, stablecoins are digital tokenized versions of fiat currency assets

(Fiat), and their value is intrinsically tied to a defined unit of exchange.

The primary value proposition of stablecoins is that they provide basic financial

services to almost anyone with an internet connection. This has made the

adoption of stablecoins a global phenomenon, with more than 25 million

blockchain wallets holding more than US$1 in a stablecoin, and 80% of these

wallets holding US$100 or less.

According to Bernstein Research, the stablecoin market is expected to grow

from US$125 billion today to over US$2.8 trillion in the next 5 years1. Given these

exponential growth dynamics, stablecoins are considered by some the crypto

‘killer app’2.

Stablecoins also form a core part of the trading infrastructure on decentralized

exchanges, with over 70% of trading volumes being transacted as a stablecoinbased cross-currency swap.

Stable-Stable Stable-Token Token-Token Source: GeckoTerminal, DeFi trading platforms, Bernstein analysis

Ethereum BNB Polygon Arbitrum Optimism Avax Solana Grand


Total

44%

43%

25%

45%

11%

55%

6%

43%

21%

54%

13%

53%

1%

75%

30%

46%

1 Gautam Chhugani, Manas Agrawal and Mahika Sapra. Primer 1.0 on Stablecoins: The $3Tn digital currency market. AB Bernstein, August 2023.

2 A killer app is defined as a software application that is exceptionally useful, desirable, or popular, and that proves the value of some larger technology. 

3 Payment rails, are the infrastructure or platforms which move money between a payer and their payee. One can think of them in the same way as physical rails, connecting financial

organizations and banks with other businesses and consumers.

4 Peter Johnson and Sai Nimmagadda. The Relentless Rise of Stablecoins. Brevan Howard Digital, August 2023.

04

Multiple of Stablecoins

Stablecoins

PayPal

Visa

ACH

Fedwire

Transaction Volume ($)

$11.1 tn

$1.4 tn

$11.6 tn

$76.7 tn

$1,060.3 tn

1.00x

0.13x

1.05x

6.91x

95.50x

Transaction Volume ($)

1.3 bn

22.3 bn

192.5 bn

30.0 bn

0.2 bn

# of Transactions

1.00x

17.15x

148.08x

23.08x

0.15x

Transaction #

Currently, stablecoins built on the Ethereum and Tron blockchains

dominate by market capitalization due to their network efficiency and

security features. Moreover, the number of transactions on the Tron

blockchain is an order of magnitude greater than that on other

blockchains due to the high transaction throughput and lower

settlement costs on the network.

Stablecoins Market Cap

35% 54%

4%

1%1%1%1%

3%

Others include Optimism,

Fantom, Omni, etc.


Source: DefiLlama,

Bernstein analysis

Ethereum

Tron

BSC

Arbitrum

Solana

Avalanche

Polygon

Others

STABLECOINS

Furthermore, the stablecoin market is dominated by tokens that are

pegged to the US dollar, and issued by organizations such as Circle,

Paxos, and Tether. This makes rational sense, given that the US dollar

is the dominant unit of exchange for the pricing of fundamental

commodities and global cross-border trade.

However, recent economic volatility and geopolitical events have left a

large unmet need in the stablecoin market, and, more generally, in the

currency markets at large. The DRAM stablecoin occupies this white

space.

DRAM Trust mints offshore DRAM stablecoins with parity to US$1, fully backed by an actual deposit of AED 3.6725 per coin5. The DRAM coin holder

is afforded the ability to store wealth in a stable, US dollar-linked, market-tradeable stablecoin.

DRAM Trust’s governance and oversight framework is designed to instill confidence in the DRAM stablecoin as a global medium of exchange. The

key features of DRAM are:

DRAM Trust has made significant investments in compliance, cybersecurity, audit processes, and other relevant best practices that come from

traditional finance, while ensuring user privacy and clarity of transaction records on the public blockchain.

Stability as a unit

of exchange

Universal inclusiveness,

especially for the unbanked

and the underbanked

Accessibility and

transparency

Store of wealth, in a non

dollar, yet stable US dollar

pegged, marketable product

DRAM

5 On a currency translation basis, and are subject to adjustments arising from any re-basement of the AED/USD foreign exchange rate.

05

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- Financia )ecurity: )inificant )#verein har-a))et re)erve(

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ecti#n): .r#
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UAE he.in attract va)t f#rein inve)tment an taent t# the c#untry.

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famiiarity an ‘netw#rk effect)’ #f the US #ar – with 1 bein at .arity t# US$1 – which tran)ate) int# ea)e #f trae acce))ibiity an

acce.tabiity. The re)iience #f an tru)t in the AED create a )#i uner.innin f#r DRAM: a )tabe US #ar-inke unit #f exchane.

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airine): Emirate).

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[

The Intrinsic Stability of DRAM

In summary, DRAM’s attractiveness as a medium of exchange, as an offshore stablecoin, is strong relative to other tokens:

1

4

2

5

3

6

Universal acceptance: DRAM’) 1:1

.arity with the US #ar make) it an

acce))ibe an c#nvenient meium #f

exchane #n a #ba ba)i) with#ut

neein currency tran)ati#n).

Stable wealth: AED’) time-te)te

.e t# the US #ar f#rtifie) the

intrin)ic vaue #f DRAM an make)

it attractive a) a )t#re #f weath.

Solid fundamentals: near-term an

#n-term macr#ec#n#mic )#cia an

.#itica )tabiity #f the UAE are irecty

.r#.#rti#na t# the )#i funamenta)

#f the AED.

Interoperability: a) an ERC-20 t#ken

DRAM can be efficienty interate

an u)e acr#)) many centraize

an ecentraize .atf#rm).

Efficiency: c#m.atibiity acr#))

muti.e chain) a#w) f#r #w

tran)acti#n fee) an in)tantane#u)

tran)fer) #n the .ubic b#ckchain.

Governance: the #vernance )ecurity

)tructure an tran).arency #f the

DRAM Tru)t act a) a ber#ck f#r the

t#ken’) enurin ine.enence )tabiity

an vaue.

06

Nearly 9 million expats, from over 200

nationalities, live in the UAE

Attractive tourist destination, where tourism

directly contributes to over 9% of GDP

#1 destination globally, by total

international overnight visitor

The terms of DRAM Trust are governed by Hong Kong law. DRAM

Trust operates in a transparent manner designed to ensure

continuous credibility with all of DRAM’s stakeholders – from

banking partners and customers to regulators and all other service

providers.

DRAM Trust’s oversight is multi-layered and is designed to protect

the interests of all stakeholders. While the trustee of DRAM Trust

stands as the primary guardian of the overall ecosystem, the trust’s

oversight has additional layers of independent scrutiny to ensure

an equitable consistency in any action for all stakeholders. Holders

of DRAM are protected by the User Agreement, which explicitly

details their rights and the transaction process. Proceeds with

respect to redemption of DRAM are payable out of the Trust’s

assets.

DRAM Trust’s shared-authority model brings together in-licensed

technology, developed by professionals with extensive experience

in the blockchain, engineering, and finance worlds. Both offline

and online security guardrails are in place to prevent any single

point of failure. All significant actions make use of and require

multi-signature, democratic controls that include the trustee and

other independent responsible parties.

DRAM Trust is also committed to

conducting regular cybersecurity checks

and an audit of the multi-signature

process for key functions, from qualified

third parties on an annual basis. This

ensures that the procedures and

processes are continually reviewed

relative to the most current best-in-class

standards and eliminates system

vulnerabilities.

Our smart contracts have gone through

numerous cybersecurity checks

conducted by two leading companies –

Consensys and Peckshield – with the

outcomes publicly available on their

respective websites.

Further details on DRAM Trust’s

governance framework are outlined in

Appendix I.

DRAM Trust

Robust


Governance


Framework

Management

Clear authority

separation and

sign-off

requirements

Principles

Commitment to

fiduciary duty and

financial integrity

Controls

Multi-signature

and time-delayed

executions of

actions

Organisation

DRAM Trust

structure with

trustee oversight

Regulations

Compliance with

AMLO and global

best practice

Committees

External bodies

provide governance

recommendations

07

Trust and transparency are two sides of the same coin.

DRAM Trust’s reserves will be verified on a near realtime basis by independent attestors and will be publicly

accessible online.

The Network Firm (TNF), a crypto-native audit firm, has

pioneered the development of crypto-specific

accounting and attestation services; they have built the

tools to independently verify reserves daily. All our

reserves are managed in a manner that avoids any

currency translation mismatch. TNF will publish this

reserve information independently, with timestamps,

through their LedgerLens widget, which is integrated on

DRAM’s website.

All reserve assets that back the minted DRAM tokens

are held at leading financial institutions and are

segregated as customer property.

DRAM Trust is subject to requirements under Hong Kong's

Anti-Money Laundering and Counter-Terrorist Financing

Ordinance (AMLO), ensuring that the highest standards of care

are continuously applied to the ‘Know Your Client’ (KYC) and

‘Know Your Token’ (KYT) routines. These are further

strengthened by the transparency enabled by the public

blockchain and integrated into the overarching governance

framework that brings together best-in-class principles from

traditional finance.

The visibility afforded by the public blockchain magnifies the

efficacy of third-party surveillance tools and helps meet the

AMLO obligations to detect and weed out any suspicious

activity. We follow strict AML, KYC, and KYT procedures for onboarding and minting/burning DRAM.

DRAM Trust’s compliance framework integrates automated

identity verification and risk analysis tools along with manual

reviews. These processes uphold the applicable compliance

standards whilst preserving user privacy.

Compliance is deeply embedded into the overall governance

DNA, which means DRAM can bridge the decentralized ethos

of crypto with the accountability and reliability expected from

traditional finance. DRAM Trust’s commitment to transparency

and stewardship makes DRAM attractive to users and should

be encouraged for adoption by regulators.

DRAM Trust takes seriously its role in advancing the freedom

enabled by crypto currencies, especially for the unbanked and

the underbanked, and strives for the highest standards of

integrity and accountability.

Proof of


Reserves Compliance

08

Technology and Security DRAM is an ERC-20 token designed to efficiently and

securely maximize interoperability across blockchain

networks in an efficient, secure manner. The ERC-20 smart

contract has passed many audits and is time-tested.

The Transfer and Approve functions enable self-custody for token holders, along with the trustless and permissionless movement of their

DRAM tokens. Every transaction is transparently recorded and is visible on the public blockchain.

The token minting and burning process is prescriptive and rigorous, which is intended to ensure the safety and security of the overall DRAM

ecosystem and that of the token holders.

1.

Prospective partner

applies to become a

minting partner

8.

All DRAM token and

reserve data updated

real-time and

published online

3.

DRAM Trust reviews mint

request form and if

approved minting partner

submits Fiat amount to

match minting request

6.

DRAM tokens minted

and credited to

minting partner wallet

4.

Bank notifies DRAM

Trust of new deposit

amount — reconciliation

checks performed on

the deposit amounts

5.

DRAM Trust creates

minting request for

hierarchical multisignatory approvals

2.

DRAM Trust performs

AML/KYC routines — if

approved, minting

partner is onboarded via

the subscription form

7.

DRAM token position

updated on minting

partner account on

platform

DRAM’s ERC-20 backbone enables the following functions:

1

4

2

5

3 Transfer

Allows permissionless on-chain

token transfers to/from different

wallet addresses.

Approve

Allows a token holder to determine

a limit on the DRAM spend by a

wallet address.

Mint

Allows minting of DRAMs, which are

governed by multiple authorizations,

once DRAM Trust has received the

equivalent amount of Fiat.

Burn

Allows the burn/deletion of minted

DRAMs, post verification of the

tokens authenticity directly on the

public blockchain.

Pause

Acts as a circuit breaker and pauses

the contract when a vulnerability in

the ecosystem is detected.

DRAM Minting process

09

DRAM Trust’s token management platform is connected to several third-party services to conduct independent checks for AML, KYC, and KYT

purposes. Additionally, all minting and burn requests follow rigorous verification of Fiat reserves and on-chain token authenticity. These actions

are subject to multiple individual authorizations to ensure a secure and thorough reconciliation process for the ecosystem’s integrity.

1.

Token holder applies to

burn DRAM

8.

All DRAM token and

reserve data updated

real-time and

published online

3.

DRAM Trust reviews

burn form and DRAM

Trust performs checks

on wallet address and

tokens

6.

The burn transaction

is confirmed on chain

and payment is made

to burning partner’s

bank account

4.

DRAM Trust will send

burn transactions request

to the burning partner

and checks wallet to

ensure DRAM is available

5.

The DRAM is burnt on

approval by burning

partner following multisignatory approval

2.

DRAM Trust performs

AML/KYC routines —

if approved, burning

partner completes

redemption form

7.

DRAM token position

updated on burning

partner account on

platform

TECHNOLOGY AND SECURITY

DRAM Burning process

The smart contract s security will be tested annually to ensure that its functionality protects the overall ecosystem.

The DRAM Smart Contract has been audited by two leading independent firms, namely, Consensys and Peckshield. Their reports are published

online and can be found on their respective websites.

The following security measures have been implemented for all critical, sensitive and system-wide actions:

For Fiat-backed stablecoins, even if they are decentralized and permissionless, the importance of verifying the assets underpinning their value

in relation to mint/burn requests necessitates some level of centralization. This feature naturally lends itself to some level of compromise

between the convenience and speed of blockchain execution and the overall measures required for the contract’s security. DRAM Trust has

minimized the effects caused by this compromise through an implementation of a hierarchy of roles, across multiple entities, with specific

authorization protocols for the various functions.

Time-lock

Allows an authorized party to cancel a

proposed action, within a specific timeperiod, before its implementation. This

prevents malicious actions through

temporary hacks.

Multi-sigs

Enforces multiple authorizations for

any proposed action. DRAM Trust’s

governance framework for multi-sigs is

reviewed on a quarterly basis.

Emergency circuit breaker

Enforces a halt on all actions if a

security breach is detected in the code

stack; this is enabled through the

Pause function described above.

10

DRAM Trust proactively identifies, manages, and mitigates

market, regulatory, and technology risks. These risks require

ongoing monitoring of multi-faceted developments across

geographies, cyberthreats, and new innovations.

Risk


Management

nl Competitive landscapeX DRAM Trust's experience, regulatory and governmental relationships,

compliance rigor and transparency build a significant moat against duplicationl

Wl User adoptionX the transparency and reputational credibility that DRAM brings to the offshore

stablecoin market will potentially drive significant and broad-based adoptionl

Ol Crypto-market downturnsX the non-speculative utility of DRAM is designed to make it

resistant to crypto market cycles and acts as a reliable store of wealthl

Vl Stablecoin failuresX DRAM’s conservative reserve backing, transparency audits, and robust

governance are designed to reinforce the solidity of DRAM Trust’s platform and eliminates

points of failure.

Market Risks

nl Evolvin© ©lobal re©ulationsX DRAM Trust closely monitors all relevant regulatory changes and

maintains a continuous dialogue with concerned authoritiesl

Wl Compliance complexityX DRAM Trust has laid the foundation for a compliant framework based

on the current guidelines, while allowing for reasonable adaptability to any future regulatory

changes.

Regulatory Risks

nl Smart contract bu©sX regular external audits and testing help identify and rectify bugs. The bug

bounty program will also incentivize community-led scrutinyl

Wl Oracle failuresX data feeds are decentralized and linked to reputed service providers.

Additionally, all key tasks require manual verifications which act as a backup loopl

Ol Network con©estionX transaction fees and timing SLAs are intended to hedge against volatility

if the network experiences high trafficl

Vl Cybersecurity threatsX the implementation of leading tools and frameworks help guard against

cyberattacks.

Technology Risks

11

The adoption of stablecoins for non-speculative

use cases continues to be at a nascent stage.

Their inherent stability, together with benefits

such as near-instantaneous settlement, privacy,

transparency, and reduced transaction costs

make stablecoins an appealing proposition for

those wishing to access basic financial and

non-financial services in a globalized

marketplace. Particularly in inflationary

currency regimes, stablecoins provide an

escape for the unbanked and the underbanked

without hindering their ability to protect their

purchasing power.

Use Cases

DRAM Trust has identified the following immediate use cases:

Cross-Currency transactions

against other digital assets

As more assets move onto the blockchain, including both hard assets and traditional

securities, stablecoins will enable reliable and efficient payment for these assets with

lower transaction fees.

General payments Stablecoins can facilitate fast peer-to-peer transactions and automated

micropayments by reducing manual interventions. These payments can be made

24/7/365, unhindered by borders. Stablecoins are a link between decentralized and

traditional finance.

Clearing and settlement DRAM can be used to settle assets with Fiat value without the restrictions of the

traditional monetary system.

Volatility hedging and liquidity Stablecoins are an instant source of fiat liquidity for crypto traders. DRAM may be

used as a currency trading pair on exchanges and traders can move instantly between

positions without exposing portfolios to unnecessary risks or volatility. Stablecoins

generally provide a safe haven for traders whilst waiting for investing opportunities.

Alternative crypto offering DRAMs stability, transparency, and interoperability offers an alternative to other

unregulated and unstable digital assets.

DRAMs have the potential to unlock other innovative products and services built on top of its global digital network. DRAM Trust will

proactively engage with exchanges, platforms, and wallet providers to unlock additional use cases.

12

DRAM Trust


Centralised mint and burn of DRAM Coin

FIAT deposited for DRAM purchase

Wallets / crypto exchanges

Consumer Merchants

platforms

DRAM Coin


Minted

FIAT withdrawn for DRAM purchase

FIAT Reserves held custodied at

banks on behalf of DRAM holders

DRAM COINS IN CIRCULATION

DRAM Coin


Burned

DRAM hopes to realize Milton Friedman’s

vision of being a reliable form of ‘e-cash’ that

provides the free movement of capital in a

decentralized manner. The key attributes

underlying DRAM unlock the possibilities of

decentralized money that is anchored to a

stable store of value.

Conclusion

Stability

Compliance

Steady Value Efficiency

Transparency

Stability The value of DRAM is designed to be at parity with that of the US dollar, thereby

benefiting from the global network effects and widespread usability as a digital currency.

Transparency Near real-time independent audits of DRAM Trust’s reserves, full transaction visibility on

the public blockchain, and the User Agreement form the basis of a transparent

framework for all stakeholders.

Efficiency DRAM is an ERC-20 token that is built on the proven foundation of Ethereum

technology. This allows for multi-faceted versatility across exchanges, trading platforms,

and wallet providers. Further compatibility across various other blockchains enables

DRAM to be an efficient medium of exchange.

Steady Value DRAMs can be subscribed for and redeemed in any currency. However, DRAM Trust will

always maintain a reserve of AED 3.6725 per minted DRAM token on a constant currency

basis. DRAM has the potential to act as an attractive store of wealth in a non-dollar

denominated, yet stable dollar-pegged, unit of exchange.

Compliance Compliance is a priority for DRAM Trust. This enables DRAM to bridge the decentralized

ethos of crypto with the accountability and reliability expected from traditional finance.

DRAM has a clear product-market fit and will

provide tangible benefits to millions worldwide.

13

The DRAM Trust’s governance and oversight Appendix I framework is summarized in the table below.

Organization Design and

Reporting Structure

DRAMs are issued by Hong Kong law governed DRAM Trust. All activities of the trust are

overseen by the trustee of DRAM Trust, whose activities are regulated in Hong Kong.

The trustee’s practices are also monitored by a Protector to ensure additional oversight.

All burn and mint requests must be approved by the trustee and multiple hierarchical

signatories. The trustee ensures full transparency for all stakeholders while adhering to

norms for user privacy.

Regulations DRAM Trust is subject to requirements under the Hong Kong AMLO. DRAM Trust has a

strong compliance culture and proactively addresses its policies to changes in

regulation. This ensures compliance with the most current local regulation and practices.

DRAM Trust uses third-party tools to comply with its AMLO obligations and to perform

due diligence on all its counterparts and partners. DRAM Trust uses surveillance tools to

monitor transactions and will report any suspicious transactions as appropriate to

relevant authorities.

Management Accountability and

Authority

DRAM Trust has licensed the stablecoin technology that has been developed by

experienced finance and technology professionals. It has all the ideal attributes to be a

preferred medium of exchange. The license partner’s performance is under scrutiny from

the trustee, their peers and the public. Roles and responsibilities are clearly defined for all

actions related to token mints and burns. These critical actions are subject to multiple

authorities by independent entities and the trustee.

Committees DRAM Trust will create committees appropriate to its activities to include audit and

governance committees. These committees will provide recommendations for DRAM

Trust’s operations.

Business and


Operating Principles

DRAM Trust will run its business using best-in-class practices. It will utilize generally

accepted control processes as used by regulated financial institutions to enable it to fulfil

its fiduciary responsibilities to the DRAM holders. The safety of the DRAM holder’s assets

is a primary responsibility and all decisions are made keeping a sustainable business

model in mind. The DRAM Trust guiding principles are enshrined in all the tasks and are

paramount to DRAM Trust’s integrity.

Capital Adequacy DRAM Trust is adequately capitalized to ensure that it will meet its obligations to its

DRAM holders, partners, and vendors. DRAM Trust has rigorous processes to ensure that

it constantly monitors its capital position and will maintain enough capital at all times to

withstand various stress scenarios.

DRAM Trust has strong accounting and financial control capabilities based on the

implementation of its near real-time systems.

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Appendix I

Risk Management DRAM Trust has a comprehensive risk management program that looks at risk

holistically. The risk management program also details business continuity and

contingency plans.

Custody and


Safekeeping

DRAM Trust has relationships with regulated banking and trading institutions in the

world’s major financial centers. All reserve assets will be segregated at our custodians

and will be accounted for as DRAM holder property.

Financial Audits DRAM Trust has engaged The Network Firm to conduct near real-time reserve

verifications and periodic attestations. An internationally recognized auditor will

undertake audits on the Trust's financials and test DRAM Trust’s internal practices on an

annual basis.

Smart-Contract Audits DRAM Trust has engaged two smart contract auditors (Consensys and Peckshield) to

perform independent audit and security reviews of the DRAM ERC-20 smart contract.

The results of these audits are public and further audits will be performed at least

annually or when there are major code amendments.

Blockchain Transaction

Monitoring

DRAM will be initially issued on the Ethereum blockchain with subsequent links being

built on other blockchain networks. The advantages and efficiencies of the blockchain

are balanced by DRAM Trust’s use of third-party tools and built-in security measures to

guard against bad actors, fraudulent activities, and ensure all regulatory obligations and

directives are fulfilled.

15

1=US$1