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Public dossier
The German white paper is the canonical Version 0.9. A complete professional English working translation is available below; it is not a certified or official legal translation.
Independent Vendetta Labs initiative. Not commissioned or approved by a government. Not legal advice, an issuance decision or a recommendation to leave the euro area.
Download the English edition
- White paper and ministerial dossier · PDF
- White paper and ministerial dossier · DOCX
- Executive decision memorandum · PDF
- Ministry submission template · PDF
- Ministerial presentation · PDF
Chapter map
0. Executive one-pager
Defines ΔΡΑΧ as one unit in digital, offline-capable and physical form, lists ten constitutional rules and limits the requested decision to Phase 0.
1. Mandate and assumptions
Separates technical feasibility, current euro-area law and a legal-tender scenario relevant only under full monetary sovereignty. It states the conflicts between hardness and crisis elasticity, decentralisation and cash, and sovereignty and global integration.
2. Monetary constitution
Specifies S = D + P + O + E ≤ Mmax, a proposed genesis schedule and the absence of discretionary money creation. M0 = 90bn, Rmax = 9bn and Mmax = 99bn ΔΡΑΧ are simulation parameters, not recommendations or issuance announcements.
3. Technical architecture
Models the system as a Toccata-native covenant family. ΔΡΑΧ is not KAS, a Kaspa fork or a wrapped token. KAS is initially the fee and security asset. A migration test remains mandatory.
4–5. Cash, coins and offline use
Defines CashLot states, roles, serial commitments, issue, return and destruction. Offline payments remain prefunded, bounded and subject to later synchronisation.
6. Banking, credit and liquidity
Separates fully backed payment accounts from risk-bearing credit finance. It explains why hard money without an unlimited lender of last resort needs prefunded buffers and clear insolvency rules.
7. Governance and sunset
The state is only a temporary Genesis Steward. Rights narrow, timelocks lengthen and keys are publicly destroyed. Mmax, bearer unfreezeability and cash backing are intended to become ungovernable.
8. Legal architecture
Distinguishes research and voluntary use inside the euro area, legally sensitive fiscal gravity and full monetary sovereignty as a separate political decision. Fictional law titles are illustrative.
9. Global economic integration
Relevance is intended to grow through real use in shipping, tourism, islands and diaspora rather than coercion or a peg. Market on/off ramps remain regulated; the protocol has no official EUR window.
10. Security
Threat model for double issuance, compiler errors, governance capture, CashLot fraud, counterfeiting, offline double spend, privacy leaks and state pressure. 1kUSD is mentioned only as methodological experience for invariants, known limitations, telemetry and sunset discipline.
11–12. Phase 0 and decision request
Defines eight work packages, 18 months, budget bands, milestones, stop criteria and a deliberately small research authorisation. Success means a defensible Go, No-Go or Research-Only decision, not market capitalisation.
13–16. Parameters, examples, glossary and sources
Provides example parameters, transaction paths, terminology and a source register. All parameters remain provisional until simulation, legal review and public consultation.
17. Honest residual risk
The study does not promise fixed supply, unlimited crisis liquidity, offline finality, anonymity and institutional independence at the same time. These trade-offs determine Go or No-Go.