> For the complete documentation index, see [llms.txt](https://docs.theangel.app/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.theangel.app/operations-handbook-internal/tokenisation-pipeline.md).

# Tokenisation Pipeline

### Tokenisation Pipeline SOP

This is where the legal & technical structuring happens — accuracy is essential.

#### Step 1 — Select Legal Structure

Tokenisation Team determines:

* SPV (simple raises)
* Luxembourg compartment (larger raises)

Decision criteria:

* Raise size
* Investor geography
* Founder jurisdiction
* Tax implications

#### Step 2 — SPV / Compartment Creation

Performed in partnership with Filedgr.

Actions:

* Create ring-fenced compartment
* Prepare regulatory filings
* Assign administrative agents
* Open bank accounts
* Register compartment details

Source: Filedgr’s operational documents 

#### Step 3 — Equity Transfer Process

Founder Success + Tokenisation Team coordinate:

* Share issuance or transfer
* Subscription agreements
* SPV/compartment ownership confirmation
* Signed legal documents

#### Step 4 — Token Economics Finalisation

Define:

* Token supply
* Token price
* Investor allocation
* Reserved supply (if any)
* Lock-up conditions (rare)

#### Step 5 — Smart Contract Deployment

Engineering Team executes:

* Contract configuration
* Multi-sig setup
* Token minting
* ISIN integration

Security checks:

* Pre- and post-deployment audit review
* Zero unauthorised minting
* Correct supply issuance

#### Step 6 — Token Distribution

Investors receive tokens when:

* Funds clear
* Compliance checks are complete

Internal Logging:

* Token issuance timestamp
* Wallet address
* Investor ID reference

***

### Listing Review Checklist (Internal)

Every listing must be reviewed against 20+ criteria:

#### Content Quality

* Clear problem statement
* Evidence of traction
* Accurate financials
* No unrealistic projections
* Professional founder video

#### Compliance Quality

* Founder KYC passed
* No adverse media
* Company incorporation validated

#### Legal Requirements

* SPV/Compartment documentation complete
* Tokenomics approved
* Prospectus drafted

#### Platform Readiness

* All listing fields completed
* Media assets uploaded
* Security screening complete