The audit was focused on the Calastone Tokenised Distribution (CTD) product, covering the
smart contracts in the DigitalInvestments.Distribution.SmartContracts repository.

CTD is part of Calastone's digital product suite, operating within an end-to-end fund ecosystem
that bridges traditional systems with various blockchain networks (e.g., Ethereum, Avalanche,
Polygon).

The product extends Calastone's Transaction Network (CTN) to enable external blockchain
connectivity between buyers and sellers of funds, in the same manner that CTN considers
connectivity via Swift, API, flat file or other methods. This opens new digital distribution channels
for Investment Managers (IMs) and their service providers while preserving existing flows and
leveraging their existing integrations with Calastone.

CTD initially focuses on EVM blockchains, with plans to expand.

This phase focuses on allowing IMs (directly or via a service provider) to select share classes to
tokenize, choose blockchains, whitelist participants and handle resulting order flow. ERC-20
smart contracts are deployed for Tokenised Fund Share Classes (TFSCs), enabling order
submission via smart contracts, mapped to standard order messages and routed to the
traditional funds ecosystem via CTN, with responses sent back the same way.