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BizShares — Tokenized Instruments

BizShares are onchain tokens that represent structured financial exposure to real-world businesses funded through BizFi. Each BizShare corresponds to a defined financial agreement between a business and the Bitsave financing framework, with payouts routed to token holders via the protocol’s distribution system. BizShares can represent different categories of financial instruments, including:
  • Tokenized Debt
  • Tokenized Equity
  • Tokenized Revenue
  • Hybrid or structured instruments (e.g., convertible debt)
Each category defines distinct rules for payouts, transferability, and investor rights. In the current system phase, tokenized debt BizShares are the most fully specified and implemented.

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Tokenized Debt (Primary Product)

Tokenized Debt is the core and most mature financial instrument within BizFi. Under this model:
  • A business receives offchain capital deployment
  • A corresponding onchain BizShare issuance represents a structured debt obligation
  • Investors receive stablecoin payouts on a predefined schedule
Debt BizShares are designed with predictable return structures rather than variable market pricing. They are non-transferable wallet-to-wallet and rely on a controlled exit mechanism. See here for a detailed technical and financial deep dive into Tokenized Debt.

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Tokenized Equity (Introductory)

Tokenized Equity instruments represent onchain exposure to offchain business ownership. These tokens are intended to map to equity or equity-like interests held through legal structures managed offchain. Key characteristics (introductory level):
  • Represent ownership-linked rights rather than fixed repayment schedules
  • Value and returns are tied to long-term business performance
  • Legal and structural mapping between tokens and shares is handled offchain
The equity model is part of the broader BizMarket vision but remains at an early design stage.

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Tokenized Revenue (Introductory)

Tokenized Revenue instruments represent a share of a business’s revenue streams rather than ownership or fixed debt obligations. Key characteristics (introductory level):
  • Payouts are linked to business revenue performance
  • Returns may vary over time depending on business activity
  • Structures may include revenue share until a predefined multiple or term is reached
This model is intended for businesses with consistent cash flow but where traditional debt or equity structures are less suitable. Detailed mechanics are still under development.

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Convertible Debt (Introductory)

Convertible Debt is a hybrid instrument combining elements of debt and equity. At issuance, it functions as a debt obligation with defined payout expectations. Under predefined conditions (such as time, performance milestones, or future financing events), the instrument may convert into an equity-linked tokenized position. This structure is part of the long-term product roadmap and has not yet been fully specified within the current BizFi implementation.

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Indexes (Introductory)

Indexes are planned as pooled instruments that provide diversified exposure across multiple BizShares rather than a single business. Key characteristics (introductory level):
  • Bundle multiple business-linked instruments into a single onchain position
  • Designed to reduce single-business exposure
  • May follow sector, geography, or risk-based allocation logic
Index products are conceptual at this stage and depend on the maturation of underlying BizShare markets.

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BizSwap (Debt Exit Mechanism)

BizSwap is the controlled exit mechanism for tokenized debt BizShares. Because debt BizShares are non-transferable between user wallets, BizSwap provides a protocol-managed pathway for investors to exit positions under defined liquidity conditions. Instead of peer-to-peer trading, exits are handled through a structured swap process that interacts with protocol liquidity. BizSwap ensures:
  • Standardized exit logic for debt instruments
  • Controlled liquidity management
  • Alignment between payout schedules and available liquidity pools