Permissionless Multi-Network Meta-Reserve Coordination Protocol

Abstract

Boli is a permissionless protocol that maintains a single, coherent global reserve view across multiple blockchain networks. It operates on top of existing multi-chain assets and does not issue or custody the underlying value. Using Tenzro's multi-VM runtime, Boli tracks circulating supply across EVM, Solana, Stellar and Canton — netting the bridge routes between them — and either surfaces the invariant that total circulating representations never exceed the attested global reserve, or, for packs, enforces it at issuance. BOLI is the coordination token of a permissionless treasury funded by protocol fees; it has not been issued.

1. Problem

As real-world and crypto-native assets become multi-chain, the same economic value exists simultaneously as different token representations on different networks. Bridges, wrappers, and burn-and-mint mechanisms create local views of supply, but no open, permissionless system maintains a single, continuously reconciled global reserve state.

Consequences:

• Supply can drift across networks without a public, auditable source of truth.
• Reserve attestations remain fragmented and issuer- or custodian-centric.
• Autonomous agents lack a shared coordination surface for monitoring multi-network consistency.
• Users and protocols cannot easily query a live, network-agnostic “headroom” (reserve minus circulating supply).

Existing solutions are either custodial, permissioned, single-network, or focused on bridging rather than global reserve coherence.

2. Solution: the meta-reserve primitive

Boli introduces a meta-reserve coordination primitive:

A single, publicly verifiable global reserve state that treats local tokens on different networks as projections of one underlying economic reality.

Key properties:

• Permissionless — anyone can register assets, run agents, submit attestations, or challenge state.
• Non-custodial and non-issuance — Boli never holds or mints the underlying assets.
• Multi-network by design — EVM, Solana, Stellar, and Canton, plus the bridge routes between them.
• No chain of its own — assets settle on the major networks they already live on. Tenzro sits between Boli and those networks as a double-accounting layer and a buffer.
• Agent-native — anyone can run an observer, and every input one reads is public.
• Coordination, not custody — BOLI is backed by a treasury funded from protocol fees and carries no claim on the reserves Boli tracks.

The core invariant:

Σ circulating supply across all supported networks ≤ attested global reserve

3. Architecture

Boli runs no chain of its own. Assets settle on the major networks they already live on. Tenzro sits between Boli and those networks as a double-accounting layer and a buffer.

3.1 Substrates (Tenzro and Furcate)

From Tenzro, the middle layer:

• Double accounting — supply read on each network is accounted again on Tenzro, and the two sets are compared every epoch
• Buffer — networks confirm at different speeds and epochs do not line up; the buffer absorbs the difference
• Attested minting — a mint that checks the request against the attested reserve and refuses anything exceeding it
• Multi-VM execution (EVM, SVM, Daml) and on-chain identity for issuers and observers

From Furcate, hardware identity for everything Ground reads from:

• Device identity rooted in each machine’s TPM and the software it booted — sensors, edge computers, and the network between them
• Signed system extensions, measured per host, so the software on a registered device is part of what it proves about itself

3.2 Boli protocol layer

• Reserve registry — records of registered assets, their representations on each network, the bridge routes between them, and their attested reserves
• Supply oracles / observers — network-specific readers that report circulating supply
• Attestation & challenge system — permissionless submission and dispute of reserve data
• Bridge netting — declared routes subtracted at the source, so a representation is counted once
• Headroom engine — live calculation of remaining mintable or projectable capacity

3.3 Network priority (v1)

1. EVM (Ethereum and major L2s)
2. Solana
3. Stellar
4. Canton

Bridges are treated as first-class inputs. Routes are declared as part of an asset — a lockbox balance to subtract, or a burn — and netted at the source, so a unit that exists on both sides of a route is counted once. CCIP, Wormhole and LayerZero are instances of those two mechanisms rather than separate integrations.

4. How it works

Registration

Any participant can register an asset, free and signed by their own wallet, by providing:

• Canonical reserve attestation source(s)
• List of known local representations and their networks
• Optional bridge routes

Monitoring

Permissionless agents continuously:

• Read circulating supply on each network
• Ingest or verify reserve attestations
• Compare against the global state
• Publish proofs or raise challenges when divergence appears

Invariant maintenance

• Soft mode — for assets issued elsewhere, the protocol publishes netted supply, the attested reserve, and the headroom between them, each epoch. WBTC, USDC and USDT run in this mode.
• Hard mode — where the asset is a pack, the invariant is the condition of minting. A request exceeding the attested reserve is refused and the transaction does not complete.

Agents

Supply observers are unbonded and unpaid. A reading names the contract, the address and the block it was taken at, and anyone repeating the query gets the same answer.

Bonding attaches to attested measurement, where the act happened once and cannot be re-run. Agents producing those readings are paid from the treasury and bond against what they report.

5. Ground: measured backing

A reserve is normally a number its issuer states. Ground lets part of it be a number hardware measured — sensors and models on devices with a TPM-rooted identity, producing signed readings that move what the asset is worth.

What a reading carries

• Source — the device identity, the model hash, and the weights hash. Change any of them and readings stop being accepted. A retrained model is a different valuer.
• Uncertainty — every reading carries its own error bar. Backing is credited at the conservative end, and a reading that is unsure carries less weight.
• Provenance — whether the value was measured or inferred, stated explicitly rather than defaulted.
• Corroboration — the modalities that agree. A reading naming no modality is refused.

What the issuer chooses

A weight, set in advance and stated in the asset’s own units before it is chosen: how much of this asset’s value is being handed to a measurement. A feed that has not been validated against ground truth is capped at 10%.

The weights-hash gap

No enclave attestation covers model weights. SGX measures enclave pages, SEV-SNP a launch digest, and NVIDIA’s confidential computing carries no field for application data. Weights loaded at runtime fall outside all three. Ground pins the weights hash alongside the device.

Attestation proves a reading is authentic. Validation proves it is right, and they are separate claims. A camera with impeccable provenance reports faithfully on whatever is in front of it.

6. BOLI token

BOLI is the coordination token of a permissionless treasury. The treasury is funded by fees on transactions the protocol already processes.

Revenue

• Mint fees — every pack minted pays a fee in basis points on the principal, charged in the same transaction that creates the unit
• Redemption fees — free below a threshold, then scaled by how much of a network’s remaining allowance the redemption consumes, floored and capped
• Network verification — agents performing attested measurement are paid for that work
• Data services — headroom feeds, priority monitoring, and the reconciled multi-network view

Design principles

• No claim on the reserves Boli tracks. Those belong to their issuers, custodians, and the people holding units against them.
• Backed by revenue rather than by a distribution schedule.
• Free where the work is a public read anyone can repeat; priced where it consumes hardware, power and attention.
• Permissionless on both sides — anyone can issue an asset that generates fees, and anyone can run the agents that earn them.

Mint and redemption fees are charged today and accrue to the pack’s reserve, raising backing per unit. Issuance routes a share to the treasury. BOLI has not been issued, sold, or distributed.

7. Use cases

• Open multi-chain reserve dashboards and headroom feeds for any registered asset
• Agent-driven monitoring services for DAOs, protocols, and risk desks
• Integration surface for issuers who want public, continuous proof that their multi-network supply stays within reserve
• Building block for higher-level products (risk engines, automated rebalancing, cross-chain treasury tools) that need a coherent global view
• Permissionless “reserve integrity” layer that any multi-chain asset can adopt

8. Differentiation

Boli does not compete with asset issuers or custodians. It provides the missing coordination layer that makes multi-network reserve coherence a public good.

9. Security & trust model

• Reserve data is only as strong as the attestation sources provided at registration
• Supply readings are pinned to a block, so a false report is contradicted by the chain it claims to have read
• Challenge windows are open to anyone, with no account and nothing at stake
• An asset’s terms — challenge delay, reserve sources, how far a single feed’s authority extends — are set by its issuer at registration and published with it. There is no protocol-wide governance, and no vote changes an asset after it is issued
• An invariant holds only across the networks an asset has declared. A representation that was never registered is not in the total, and observing the declared networks will not reveal it
• The protocol never takes custody of underlying assets

Boli concept paper, version 0.2, August 2026. Nothing here is an offer to sell, or a solicitation to buy, any asset.