Revenue Model
Illustrative pricing streams and planning scenarios for regulated-market infrastructure.
Governa is intended to be priced as regulated-market infrastructure — comparable in scope to token deployment, shareholder and wallet management, transfer controls, corporate actions, voting, audit trails, multi-signature administration, and integrations — rather than as commodity blockchain SaaS.
Published reference points suggest this is a reasonable frame: Vertalo has advertised dedicated transfer-agent/broker-dealer deployments starting at $250,000 per year, and a disclosed Securitize transfer-agent agreement uses investor-count pricing tiers.
Illustrative planning figures
All figures are internal planning estimates based on stated per-unit assumptions, not audited projections or guarantees. Actual pricing will depend on negotiated agreements, competitive dynamics, and regulatory constraints.
Four Revenue Streams
1. Transfer Agent Platform License
- Implementation fee: $15,000 one-time per transfer-agent partner
- Base white-label license: $3,000/month, with enterprise tiers of $5,000–$10,000+/month for larger transfer agents
2. Tokenization Fee Per Issuer
Approximately $15,000 per security/class, covering configuration, contract deployment, CUSIP/security mapping, transfer-agent integration, treasury/issuance wallet setup, permissions, compliance rules, and initial shareholder migration.
3. Annual Issuer Platform Fee (Shareholder-Tiered)
| Shareholders on Platform | Illustrative Monthly Fee |
|---|---|
| 1 – 250 | $500 |
| 251 – 1,000 | $1,000 |
| 1,001 – 2,500 | $1,500 |
| 2,501 – 5,000 | $2,500 |
| 5,001 – 10,000 | $4,000 |
| 10,000+ | Custom / negotiated |
Tiering reflects the scale of wallet mappings, ownership records, restriction logic, corporate-action records, voting entitlements, and audit data the platform must maintain per issuer.
4. Transaction and Corporate-Action Fees
The base ledger is included in the platform fee; discrete high-value events are billed separately so routine transfers are not nickel-and-dimed:
| Governa Function | Illustrative Fee |
|---|---|
| Additional share class | $5,000 |
| Major shareholder import/migration | $2,500+ |
| Dividend/distribution event | $2,500 |
| Shareholder vote/proxy event | $2,500 |
| Stock split | $2,500 |
| Reverse split | $5,000 |
| Tender/exchange event | $5,000+ |
| Token burn/reissuance project | $1,000+ |
| Mass wallet migration | $2,500+ |
| Custom smart-contract modification | $5,000+ |
| API/custom integration | $5,000 – $25,000 |
| Premium audit/compliance reporting | $500/month |
Illustrative Revenue Scenarios
The scenarios below are planning estimates based on the assumptions stated, not projections or guarantees of future performance.
Scenario A — Year 1: 20 Transfer Agents, 200 Issuers
| Revenue Component | Calculation | Amount |
|---|---|---|
| TA setup fees | 20 × $15,000 | $300,000 |
| TA recurring licenses | 20 × $3,000 × 12 | $720,000 |
| Issuer tokenization fees | 200 × $15,000 | $3,000,000 |
| Issuer platform fees (avg.) | 200 × $1,500 × 12 | $3,600,000 |
| Corporate actions/usage (avg.) | 200 × $7,500 | $1,500,000 |
| Total Year 1 (illustrative) | $9,120,000 |
Of this total, approximately $5.82 million reflects recurring or usage-based revenue rather than one-time setup and tokenization fees.
Scenario B — Scale Case: 500 Issuers
| Revenue Component | Calculation | Amount |
|---|---|---|
| Issuer platform fees (avg.) | 500 × $18,000/yr | $9,000,000 |
| TA licenses | Estimate | $1,000,000 – $2,000,000 |
| Corporate actions/usage | Estimate | $3,000,000 – $5,000,000 |
| New tokenizations | 100 new × $15,000 | $1,500,000 |
| Total (illustrative range) | $14,000,000 – $17,500,000 |
Scenario C — Recurring ARR by Adoption Level
| Tokenized Issuers | Avg. Recurring Revenue per Issuer | Illustrative ARR |
|---|---|---|
| 200 | $18,000/yr | $3.6M |
| 500 | $18,000/yr | $9M |
| 1,000 | $18,000/yr | $18M |
These figures exclude transfer-agent licensing, initial tokenization fees, and corporate-action revenue, which would be additive.
Assumptions & Caveats
- All figures are internal planning estimates based on stated per-unit assumptions, not audited projections.
- Actual pricing will depend on negotiated agreements, competitive dynamics, and regulatory constraints that may affect permissible fee structures for transfer-agent services.
- Revenue does not necessarily scale linearly with headcount, but implementation, compliance, and support costs are not modeled here and should be developed separately.