# RWA Senior Lending Trust - Workflow ## General Sequence Major Sequence Items - DAI is minted - DAI is sent to RWA International Ltd, an exempt Cayman Islands company, the Trust Sponsor, via a secure Ethereum address at the Trust Sponsor’s brokerage account at Genesis Global Trading, Inc., a U.S. registered broker-dealer in New York - DAI is exchanged for USD (Genesis exchanges the DAI for USD, see Trust Sponsor’s irrevocable instructions) - USD goes to Trust Sponsor's Bank (Genesis wires USD from Trust Sponsor’s brokerage account to Trust Sponsor’s U.S. bank account at U.S. Bank (first party wire)) - Trust makes loans per the Credit Agreement and Trust Agreement - Loan Operations of 6sCP - Loans are repaid to the Trust - Trustee wires USD from trust account to Trust Sponsor’s bank account at U.S. Bank (third party wire) - U.S. Bank wires USD from Trust Sponsor’s bank account to Trust Sponsor’s Genesis brokerage account (first party wire) - Trust Sponsor purchases DAI (Genesis exchanges USD for DAI in Trust Sponsor’s brokerage account) - OTC sends DAI back (on the secured conduit) to Trust Sponsor (Genesis sends DAI back from Trust’s Sponsor’s brokerage account to MakerDAO via an Ethereum Address to be destroyed) - Trust Sponsor sends DAI back to be destroyed by MakerDAO ```sequence Title: MakerDAO Perspective Note over MakerDAO: [Secure Conduit] DAI is minted MakerDAO->Trust Sponsor: [Secure Conduit] DAI is given to Trust Sponsor Note right of Trust Sponsor: [Secure Conduit] DAI deployed \n with no set time horizon Trust Sponsor->MakerDAO: [Secure Conduit] DAI is returned to MakerDAO Note over MakerDAO: [Secure Conduit] DAI is destroyed ``` ```sequence Title: Trust Sponsor Perspective Note over Trust Sponsor: [Secure Conduit] DAI is received by Trust Sponsor Trust Sponsor -> OTC (FBO Trust Sponsor): [Secure Conduit] DAI is transferred to OTC Desk OTC (FBO Trust Sponsor)->OTC (FBO Trust Sponsor): DAI is exchanged for USD Note over OTC (FBO Trust Sponsor): Standing irrevocable instructions OTC (FBO Trust Sponsor)->Trust Sponsor Bank: FedWire Note over Trust Sponsor Bank: Standing irrevocable instructions Trust Sponsor Bank -> DST Bank: USD contributed into grantor DST Note over Trust Sponsor: Capital deployed \n with no set time horizon Note over DST Bank: Standing irrevocable instructions DST Bank -> Trust Sponsor Bank: USD received from DST Note over Trust Sponsor Bank: Standing irrevocable instructions Trust Sponsor Bank ->OTC (FBO Trust Sponsor): FedWire Note over OTC (FBO Trust Sponsor): Standing irrevocable instructions OTC (FBO Trust Sponsor)->OTC (FBO Trust Sponsor): USD is exchanged for DAI OTC (FBO Trust Sponsor)->Trust Sponsor: [Secure Conduit] DAI is transferred to Trust Sponsor ``` ```sequence Title: DST Perspective Trust Sponsor -> DST : USD contributed into grantor DST DST -> 6sCP: Trustee may approve lending USD Note over DST: Pursuant to Credit agreement \n and Trust Agreement 6sCP->DST: Borrowed funds are repaid Note over DST: Portfolio Interest DST -> Trust Sponsor: Trustee wires funds Note over CayTrust SponsorCo: USD retuned with interest ``` ```sequence Title: 6s Capital Partner ("6sCP") perspective 6sCP ->Trustee: Informs of upcoming transaction Trustee-> 6sCP: Confirms Transaction 6sCP->Borrower: Confirms Transaction 6sCP->Borrower: Schedules a closing Trustee->Title_Company: Transfers funds to Title Company Borrower->Title_Company: Delivers all documents Borrower->6sCP: Senior lien Title_Company->Seller: Funds delivered Title_Company->Borrower: Funds delivered Seller->Buyer: Clean title with a lien Note over Borrower: Funds are outstanding \n per loan agreement Borrower->6sCP: Requests payoff statement Borrower->6sCP: Requests closing date 6sCP->Trustee: Confirms payoff statement & date Trustee->6sCP: Confirms payoff statement & date Buyer->Title_Company: Funds delivered 6sCP->Title_Company: Lien Released Trustee->Title_Company: Lien Released Title_Company->Buyer: Clean title Title_Company->Trustee: Funds transfered (payoff amt) ``` ```sequence Title: DAI Source 6sCP -> DST: Provide Collateral Note over DST: Collateral may be secured \n w/ real estate or cash DST -> Trust Sponsor: Collateral Received Trust Sponsor -> Maker: Borrow DAI against \n encumbered assets Trust SponsorTrust Sponsor -> Trust Sponsor: DAI -> USD Trust Sponsor -> DST: USD received DST -> 6sCP: Credit Agreement lending Note left of DST: Pursuant to Credit agreement \n and Trust Agreement 6sCP->DST: Borrowed funds are repaid (USD) 6sCP->DST: Real-Estate collateral released DST->Trust Sponsor: Borrowed funds are repaid (USD) Trust Sponsor->Trust Sponsor: USD -> DAI Trust Sponsor->Maker: Borrowed funds are repaid (DAI) ```