Confidential
March 2026

MASEER

Institutional DeFi Infrastructure
for Real-World Assets

02 / 13
The Problem

DeFi's $53B1
Collateral Gap

DeFi lending protocols control $53B TVL, but face collateral monotony:

  • ETH/WBTC: Volatile, crypto-correlated
  • Stablecoins: Zero appreciation, 2-4% yields

What's Missing?

An appreciating, regulated commodity that serves as high-quality collateral.

1 DeFiLlama Lending Protocols, Feb 2026 — defillama.com/protocols/lending
03 / 13
The Solution

Collateral That Appreciates

Maseer builds the full stack to bring regulated, real-world commodities on-chain as DeFi-native collateral.

  • Appreciating assets: CPI+5% price floors, not stablecoin zeros
  • Commodity classification: Permissionless DeFi, no securities overhead
  • Institutional-grade: Oracle pricing, compliance layer, physical settlement
Built by ex-MakerDAO ($10B TVL) · Backed by Jon Krane ($10B AUM)

Why Not Existing RWAs?

  • Treasuries: No appreciation, correlated to rates
  • Gold tokens: Recently volatile, physical storage fees
  • Wrapped securities: Permissioned, can't enter lending protocols

Maseer starts with compliance carbon — a $950B regulated asset class, commodity-classified. More asset classes to follow.

04 / 13 
// SPDX-License-Identifier: BUSL-1.1
pragma solidity ^0.8.28;

interface Gem { function transfer(address, uint256) external; }
interface Cop { function pass(address)    external view returns (bool); }
interface Pip { function read()           external view returns (uint256); }
interface Act { function mintable()       external view returns (bool); }
interface Adm { function issuer(address) external view returns (bool); }

contract MaseerOne is MaseerToken {

    address immutable public gem;   // Purchase token
    address immutable public pip;   // Oracle price feed
    address immutable public act;   // Market timing
    address immutable public adm;   // Issuer control
    address immutable public cop;   // Compliance feed
    address immutable public flo;   // Output conduit

    function mint(uint256 amt) external mintlive pass(msg.sender)
        returns (uint256) { ... }

    function redeem(uint256 amt) external burnlive pass(msg.sender)
        returns (uint256) { ... }

    function settle() external pass(msg.sender)
        returns (uint256) { ... }

    function drip() external returns (uint256) { ... }

    function cage() external auth { live = 0; }
}
Technology Stack
MaseerOne — full lifecycle smart contract infrastructure for tokenized assets
MaseerOne.sol
Ethereum · Live 
// SPDX-License-Identifier: BUSL-1.1
pragma solidity ^0.8.28;

interface Gem { function transfer(address, uint256) external; }
interface Cop { function pass(address)    external view returns (bool); }
interface Pip { function read()           external view returns (uint256); }
interface Act { function mintable()       external view returns (bool); }
interface Adm { function issuer(address) external view returns (bool); }

contract MaseerOne is MaseerToken {

    address immutable public gem;  // Purchase token
    address immutable public pip;  // Oracle price feed
    address immutable public act;  // Market timing
    address immutable public adm;  // Issuer control
    address immutable public cop;  // Compliance feed
    address immutable public flo;  // Output conduit

    function mint(uint256 amt) external mintlive pass(msg.sender)
        returns (uint256) { ... }

    function redeem(uint256 amt) external burnlive pass(msg.sender)
        returns (uint256) { ... }

    function settle() external pass(msg.sender)
        returns (uint256) { ... }
}
Technology
DeFi
infrastructure for
real-world assets.
0
Critical Findings
100%
Uptime Since Launch
Live
Ethereum + Base
Audited by Prototech Labs — zero critical findings.
05 / 13
Institutional Infrastructure
Built on a Wall Street partnership — the bridge between Compliance Carbon and DeFi
Jon Krane · CEO, KraneShares
$10B
Assets Under Management
Jon Krane, CEO of KraneShares, is embedded in our structure. His infrastructure enables regulated commodity access, capabilities no crypto-native team can replicate.
WHY THIS MATTERS
Crypto projects can’t access physical carbon delivery. TradFi firms don’t build DeFi protocols. Jon Krane bridges both — and he chose Maseer.
Partnership unlocks
Wall Street
Europe
China
RWA access across three jurisdictions.
Carbon today. Any asset tomorrow.
06 / 13
Intelligence-First Leadership
DeFi depth. AI velocity. TradFi credibility.
Core Team
JB
Jawaad Bokhari
CEO & Product Engineer, Co-Founder
Senior Quantitative Trader, Head of Trading Arb Financial. iNED, regulated crypto exchanges.
Brian
Brian McMichael
CTO, Co-Founder
Senior Engineer, MakerDAO (4 yrs, $10B+ TVL). 10+ yrs open-source blockchain.
Andrea
Andrea Perlak
CFO
Ex World Bank Treasury. Ex KPMG. 25+ yrs. CEO Crypto Accounting Group.
Strategic Partner
Jon
Jonathan Krane
CEO & Founder, KraneShares
+$10B AUM. 34 ETFs including KWEB (Flagship China ETF). 20+ yrs China markets.
AI-Augmented Output
3 → 15+
Shipping Multiplier
Backed By
IOTA
Curiosity Capital
W3I Fund
Prototech Labs
Security Auditor
07 / 13
Market Opportunity
Maseer bridges $950B in compliance carbon into $53B of DeFi lending — and the window is now
TAM GRAND VIEW RESEARCH 2025
$950B
Global Compliance Carbon Markets — EU ETS (85%), California, RGGI, Korea, China
THE ASSET
$80B
California Carbon Allowances — ~$10B/yr allowance value, $27.94 floor, forecast $87 by 2030 (KraneShares)
THE CHANNEL DEFILLAMA FEB 2026
$53B
DeFi Lending TVL - Aave $27B, Morpho $5.8B, Maple $2.5B,
YEAR 3 TARGET
$1.6B TVL
$44.8M revenue (3% of DeFi lending) - conservative floor: $595M / $16.3M
COMPLIANCE CARBON $950B CCA: $80B DEFI LENDING $53B Aave, Morpho, Maple MASEER $1.6B Y3 TVL range Carbon collateral in DeFi Maseer is the bridge between these two worlds CANA is the first tokenized compliance commodity accepted as DeFi collateral
08 / 13
CANA: First Asset Live
CANA tokenizes California Carbon Allowances — ~$30 NAV, 2% mint/redeem spread, CPI+5% floor. From $907K TVL today to $1.6B by Year 3 via Bullish listing and Morpho integration
$1.0B $800M $600M $400M $200M M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12 Y2 Y3 YEAR 1 │ PROJECTION $125M $345M $595M FLOOR $1.6B TARGET $257M $711M
M2: Bullish Listing
CEX launch → $20M TVL
M6: Morpho Unlock
Floor (109x)
Target (300x)
$44.8M
Y3 Revenue Target (floor: $16.3M)
$907K TVL
Live today • 30,931 CANA minted
Proof of Mechanism
Mint Spread (2%) $6K earned
Alpha Spread $9K pending
$6K earned + $9K pending across 67 events, 3 streams
09 / 13
Why We Win
Our structural advantages a competitor would need years to replicate
Primary Structural Advantage
Issuer's Information Advantage
As CANA's operator, Maseer bypasses its own 2% spread, controls NAV, and captures protected arbitrage. Zero impermanent loss. Triple revenue from a single capital base.
Cannot be replicated — requires being the issuer
Deepest
Alpha Spread*
(Arbitrage)
18+ months to build commodity delivery pipeline
Institutional Distribution
Bullish + RWA.xyz + Wall Street Relationship-driven, exclusive
Commodity Classification
Not a security. 12-18 months regulatory gauntlet for competitors
Battle-Tested Infrastructure
ex-MakerDAO CTO. 0 critical findings. 100% uptime since launch
DeFi Flywheel
8 live integrations. Network effects accelerate with scale
*pending regulatory approval
10 / 13
Triple Revenue Streams
Year 3 Revenue Target
$44.8M
Issuer advantage: uncorrelated streams from a single capital base + LP fee capture
Year 1 → Year 3 Growth
$7.8M → $44.8M
5.7x revenue growth over 3 years (floor: $16.3M)
Stream 1
Mint Spread
2% per transaction on all mints & redeems
Year 1
$3.9M
Year 3
$15.5M
Stream 2
Alpha Spread*
Futures basis arbitrage via physical delivery
Year 1
$2.0M
Year 3
$22.8M
Stream 3
DeFi Trading
Prop trading: LP arbitrage + Morpho looping
Year 1
$1.9M
Year 3
$6.6M
*Pending regulatory approval
11 / 13
Go-To-Market
Activation Partners
CEX Listing
Bullish
$20M Mint
Listing agreed via Jon Krane. Deploys upon close of this round.
Agreed Deploys on Close
DeFi Lending
Morpho
CANA collateral enables 3x leveraged yield (12% net APR). Permissionless market creation — no governance votes. Integration complete, governance approval pending.
Integration Live Governance Q2
Incentive Engine
Merkl
30% of Alpha Spread auto-funds LP incentives. Self-sustaining by Year 2.
Self-funding by Y2
Stablecoin Collateral
Azos Finance
CANA mints AzUSD. Recursive demand loop creates persistent TVL.
Recursive Demand
Permissionless Lending
Ajna Finance
NAV floor = ideal price anchor for permissionless collateral markets.
Live Now
Omnichain Access
Khalani
Any chain, any stablecoin can source CANA. 40+ chains, zero bridging.
40+ Chains
Each integration amplifies TVL → mints → spread revenue. The flywheel is already spinning.
12 / 13
The Ask

$25M Series Seed

Capital Raise
80% Strategic Liquidity
20% Operations & Growth
$20M
$5M
Uniswap • Morpho Engineering • Marketing • Legal
13 / 13

Ready to Scale
Institutional DeFi

Schedule Deep Dive

Maseer Team

raise@maseer.finance

calendly.com/maseer-fundraise/deep-dive

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© 2026 Maseer Ltd.
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