PHASE 0FoundationPre-launch (−2Q)

Legal & regulatory framework finalization; KYC/AML vendor integration; smart contract development and audit; first asset pipeline origination

PHASE 1Pilot IssuanceLaunch (Q0)

First $AET issuance: single Grade A asset, private placement to accredited investors; platform beta launch; initial secondary trading venue integration

PHASE 2GrowthQ+1 to Q+4

Second and third issuances across 2+ asset classes and jurisdictions; first quarterly distribution cycle; governance module activation; investor dashboard launch

PHASE 3ScaleYear 2+

Multi-market asset pipeline (5+ jurisdictions); institutional investor onboarding; secondary market liquidity deepening; potential expansion to development-stage assets

PHASE 4EcosystemYear 3+

DeFi collateralization use cases for $AET tokens; cross-chain interoperability; potential partnership with regulated digital exchanges in Asia