FOR INVESTORS · 2026
An Early Infrastructure Bet on Tokenized Portfolios
Alvara authored ERC-7621, the first and only basket-token standard recognised by the Ethereum Foundation as a Draft EIP. We built the reference implementation, V2 is live on Ethereum and Base, and our MCP server is the first and only of its kind, with agentic managers actively trading through it. Traction is early; the case rests on the category arriving and the standard becoming load-bearing.
ERC-7621
Draft EIP · EF-recognised
V2 Live
Ethereum + Base · March 2026
MCP Server
First & only · agents trading
4 Audits
Adevar Labs · CertiK · Quill · SolidProof
What We Are, Honestly
Alvara is post-build and pre-distribution. The standard is authored, the contracts are audited and live on Ethereum and Base, and the MCP server is live. Multi-chain builds for Solana, Tron, and Hyperliquid are in testing. What we don't yet have is meaningful TVL or product fee revenue. V2 went live two months ago; current TVL is approximately $75K.
We've made mistakes worth flagging. The token launched in early 2024 ahead of product readiness; that was the wrong call. V1 launched in late 2025 and was constrained by the Uniswap V2-to-V3 liquidity migration affecting underlying basket assets. We addressed that by integrating 1inch routing and relaunching V2 on Ethereum and Base in March 2026. Unlocks are complete. The architecture is now correct.
Why This Is Investable Now
STANDARD POSITION
First and only basket-token standard recognised by the EF
ERC-7621 is the only basket-token standard recognised by the Ethereum Foundation as a Draft EIP, verifiable on the official EIPs page. We authored it and built the reference implementation. If basket tokens become a category, the standardisation work compounds: every external integrator builds against one interface. The position is real; category dominance is not guaranteed.
LIVE INFRASTRUCTURE
Built through two cycles
Four years of development and four independent audits. V2 contracts are non-custodial throughout, with 1inch DEX routing integrated, live on Ethereum and Base, and the MCP server live. Solana, Tron, and Hyperliquid builds are in testing. Replicating this from scratch would cost a competitor several million dollars in audit, dev time, and EIP-process work.
AI EXECUTION LAYER
First and only basket protocol with a live MCP server
AI agents need an audited, non-custodial on-chain layer to manage real capital. We're the first and only basket protocol with one. The open alvara-mcp repo is public. Agents construct, validate, and execute portfolio actions through ERC-7621 with policy guardrails enforced at the protocol level. The MCP server is live today and agentic managers are actively trading through it.
CATEGORY TIMING
Tokenised portfolios are early, not hypothetical
JPMorgan, BlackRock, and WisdomTree are building tokenised portfolio products. 1kx's 2025 Onchain Revenue Report (October 2025) names RWA tokenisation as a top forecasted growth driver for onchain fees in 2026. On April 30 2026, the UK FCA cleared asset managers to run fund registers on-chain and process subscriptions directly on-chain under existing rules. No experimental sandbox needed. The infrastructure layer is being decided over the next 12–24 months. Being early to the standard beats being late to the application.
The Honest Timeline
2023
Began on-chain build. ERC-7621 work commences. Architecture designed.
EARLY 2024
ALVA token launched. In hindsight, ahead of product readiness.
APR 2024
Ethereum Foundation merges ERC-7621 to Draft status in the official EIPs repository.
2024 — 2025
Audits completed (Adevar Labs, CertiK, Quill, SolidProof). Smart contract architecture refined.
LATE 2025
V1 launches on mainnet. Constrained by the Uniswap V2-to-V3 liquidity migration affecting underlying basket assets.
JAN 2026
DAO live at Epoch 14. Gauge-weight voting (Curve-style) deployed. ~40% of token supply allocated to LP emissions over 30 years.
FEB 2026
1inch DEX aggregation integrated, resolving the V1 liquidity dependency.
MAR 2026
V2 relaunch on Ethereum and Base. Current architecture goes live.
APR 2026
MCP server launched. First and only basket protocol with a native AI agent execution layer.
NOW
~$75K TVL. 140 BSKTs deployed. Early manager onboarding. Solana, Tron, and Hyperliquid builds in testing. Raising distribution round.
The Thesis in Three Parts
CATEGORY BET
Tokenised portfolios become a real on-chain category
RWA tokenisation forecast at $16T+ by 2030 (BCG & ADDX). ETF assets projected at $35T+ by 2030 (PwC ETF Survey, March 2026). If even a fraction migrates to on-chain wrappers, basket-token infrastructure becomes load-bearing. This is the bet that has to be true for the rest to matter.
STANDARDISATION BET
A common interface compounds value to its author
ERC-20 enabled Uniswap. ERC-721 enabled OpenSea. ERC-4626 enabled Morpho-class economics. Standards externalise integration cost and concentrate gravity at the reference layer. ERC-7621 may follow that arc; this round prices in the bet that it does.
EXECUTION LAYER BET
Basket-token primitives are the natural execution layer for AI agents
AI agents need audited, non-custodial on-chain rails to manage real capital. Direct token-by-token execution is too granular for agentic strategies. Single-asset vaults are too narrow. Manager-rebalanced multi-asset baskets, with policy guardrails enforced at the contract level, are the execution primitive that fits. The MCP server is live; agentic managers are trading. This is where the next 12 months compound.
Token & Equity
This round is equity in Alvara Protocol Inc. (Panama), the IP-holding entity, which holds the protocol IP and the ALVA token treasury. It is not a token sale. The ALVA token is already live, fully unlocked, and operates separately as the protocol's gauge-weight and incentive layer.
ALVA launched early 2024. ~57% of supply currently circulating (114.2M of 200M max). All unlocks complete; no further dilution from vesting cliffs.
~40% of total supply allocated to gauge-weight emissions to BSKT LPs on a locked schedule over the next 30 years (Curve-style mechanism). DAO live since January 2026 at Epoch 14.
Gauge-weight design routes incentive flow into baskets via veALVA voting (vote-escrowed ALVA: locked-token voting weight). Mechanism is built and live; meaningful flow scales with TVL growth.
Equity holders have no claim on the ALVA token. The two are entirely separate instruments.
The Round
THE OFFER
$1M Round · $6M Post-Money Valuation
Seed equity in Alvara Protocol Inc. (Panama). 16.7% new equity.
Stage: post-build, pre-distribution. Standard authored. V2 live on Ethereum and Base. MCP server live with agents trading. Multi-chain in testing.
Strategic partners with relevant distribution prioritised over pure capital.
Existing backers: Nimbus Capital, Alpha Transform Holdings, GDA Capital, BDE Ventures, Spirit Blockchain.
How we think about $6M post: not a multiple of revenue, since there isn't meaningful revenue yet. It reflects four years of accumulated infrastructure (authored EIP, four audits, V2 architecture, MCP server, multi-chain builds in testing, gauge-weight DAO live), the cost a competitor would face to replicate, and the option value on the standard becoming load-bearing for tokenised portfolios.
Use of Funds — 12 Month Plan
$1M round · ~$60K/month operating burn · 12-month runway sufficient through to TVL inflection point.
50% · DIST
Distribution — manager & KOL onboarding to drive TVL
The product is built; the open question is whether managers and creators ship strategies through it. Most of the round goes here.
20% · ENG
Engineering — multi-chain rollout & AI/MCP deepening
Solana, Tron, Hyperliquid builds in testing. Hyperliquid permissionless perp-vault wrapper unlocks perp exposure inside baskets. ERC-4626 vault inclusion (Morpho, Aave) ships alongside.
15% · OPS
Operations — entity, legal, compliance, audit follow-ups
Round mechanics, entity costs, ongoing audit support, manager onboarding compliance.
10% · STD
Standard — ERC-7621 progression toward Final status
Continued EIP work and pursuit of external implementers. The standard is more valuable the less proprietary it appears.
5% · BUFFER
Contingency
Reserved for unplanned costs and 12-month TVL inflection or honest pivot point. If gauge-weight, MCP, and multi-chain don't meaningfully move TVL within 12 months, the right answer is to acknowledge that and reset.
The Risks We See
Distribution, not product. The product is built. We have not yet proven we can attract the manager flow that drives TVL. This is the central risk and the central use of funds.
Standard ratification is not guaranteed. ERC-7621 is at Draft. Final status requires continued EIP process work and external adoption. We're driving both, but we don't control the timeline.
Forkability. The contracts are open. A well-funded actor could fork the implementation. Our defence is the standard work, the manager network as it builds, and execution speed on AI integrations, not contract secrecy.
Token overhang. Launching the token early was a mistake. Unlocks are complete and the gauge-weight design routes future emissions productively, but the cap-table reality of a public token alongside an equity round is something we'll walk through in diligence.
Category risk. Tokenised portfolios may not become the category we believe. If they don't, the standard work is academic and the protocol shrinks to a niche tool.
The Core Question
Do you believe tokenised portfolios become a real on-chain category? If so, do you want exposure to the standard, the AI execution layer, and the team that built them, at infrastructure-stage pricing, before TVL inflection?
This is an early bet. The case rests on the category arriving, the standard becoming load-bearing, and the team executing on distribution. The first two are out of our hands; the third is the work this round funds.
Alvara is a post-build, pre-distribution infrastructure bet, priced as such. The right next step is verification: chain, contracts, audits, EIP repo, and our own characterisations.
Verify on-chain. Pressure-test the team. Decide.
All contract addresses, audits, EIP page, MCP repo, and team listed on the diligence page.
Alvara Protocol · Investor Overview · Not financial advice