Valad
Hector + Kilo · Delivery Scope · Confidential
Valad Asset Management · Delivery Proposal

Hector + Kilo

Real-estate investment intelligence and institutional RWA operating infrastructure — built as one programme, on one architecture, delivered in six months.

$0Fixed programme fee
0Weeks to delivery
0Hector engines
0Kilo engines · E1–E9
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01 — The relationship

Not two products. One stack, three layers.

Hector and Kilo are a single pipeline built by one team. Hector proves an asset is worth owning; Kilo makes it rated, structured, and tokenisation-ready. Hector's evidence ledger is, literally, Kilo's admission gate.

Layer 0

Valad

The asset-management firm and originating deal pipeline — V5 / V10 / V20 funds. The owner of the assets that flow through the stack.

Originator · Balance sheet · Brand
Layer 1 · Brain

Hector

Real-estate investment intelligence & underwriting. Ingests a data room, structures and verifies it, scores risk and value, models repositioning and sensitivity, and answers questions against the evidence — every output traced to a source.

Ingest → Score → Reposition → Optimise → Ask
Layer 2 · Rails

Kilo

Institutional RWA operating infrastructure. Takes a Hector-vetted asset and makes it rated, priced, structured, and tokenisation-ready — under Model B, where Valad remains the legal issuer and Kilo runs the engine beneath it. Smart contracts are retained by Valad.

Rate → Price → Structure → Subscribe → Reconcile
Assets enter the platform once, through Hector. Kilo never re-ingests. One source of truth for both products.
02 — Layer 1

Hector — the intelligence layer

Eight engines, none deferred. The evidence ledger and data models are built first — the traceability schema the entire scope depends on. Extraction is proved on Valad's real documents in week three before any further commitment.

01

Evidence Ledger & Data Models

Core primitive · included
Three-tier trust hierarchy built first — uploaded asset data, licensed market data, open intelligence. Every number traces to a source tier with confidence level and date. The schema Kilo inherits for free.
02

Asset Ingestion

AI extraction
Upload a data room → AI extracts lease terms, WAULT, rents, EPC, title, surveys → structured, source-tagged asset record. Human review screen for sub-threshold fields. Accuracy measured per-field on Valad's real documents in week 3.
03

Risk Engine

12 categories
Scores lease, covenant, market, planning, title, EPC/ESG, climate, operational, insurance, compliance & macro risk — with an evidence trail per flag. Weights in versioned config tuned by Valad's analysts.
04

Repositioning Engine

5-stage feasibility
Tests office / resi / BTR / PBSA / hotel / logistics / life-sciences conversions → GDV, RLV, IRR, yield-on-cost. Assumptions library provides BCIS/Glenigan benchmarks where asset-specific data is absent.
05

Appraisal Engine

Comparison · Investment · Residual
Three appraisal methods; editable assumptions library with primary-vs-benchmark labelling. Maths validated by reproducing appraisals Valad's analysts have already done within an agreed tolerance.
06

Optimisation Engine

Risk → action
Turns risk flags into ranked strategies — regear, re-let, rent review, EPC uplift, green capex, disposal prep — with ROI and source evidence.
07

Sensitivity Engine

Stress & upside
Stress-tests rent, yield, cost, finance across mild / moderate / severe + upside scenarios on NOI, IRR, NPV, RLV. Full scenario designer built to Valad's hi-fi designs.
08

Hector GPT

Evidence Q&A · citations mandatory
Natural-language assistant over the full evidence base — answers only from retrieved, permission-filtered data. Citations mandatory. Hallucination regression tested on ~50 curated questions every change. Report generation included.
78/100
● Investment eligible — score ≥ 70
Market strength · demand, supply, rental growth
82
Financial performance · NOI, yield, IRR
78
Income security · covenant, WAULT, occupancy
74
Value creation · repositioning, reversion
81
Risk profile · planning, delivery, finance
72

The Data Trust Hierarchy — built into the schema

Every number Hector produces traces back to a source tier, with confidence and date. Missing data falls back gracefully to a lower tier — clearly labelled. This is a schema design, not a UI feature.

1
Primary

Uploaded asset data

Rent rolls, leases, ASTs, EPCs, surveys, title, valuations. The asset-specific source of truth.

2
Secondary

Institutional market data

Licensed datasets — transactions, yields, rents, vacancy, planning, cost, climate. Benchmarking and calibration.

3
Tertiary

Open & research intelligence

Government, statistical, agent research, news. Corroborating — used to triangulate assumptions.

03 — Layer 2

Kilo — the operating infrastructure

The institutional off-chain layer that takes Hector-vetted assets and makes them rated, priced, structured, and tokenisation-ready. Model B: Valad is the legal issuer; Kilo is the engine beneath it. Smart-contract development, deployment, and audit are retained by Valad — that boundary is what makes the MVP shippable on this timeline.

PRINCIPLE

Model B only

Valad = legal issuer. Kilo = infrastructure operator. Kilo-as-issuer & retail are post-MVP.

GATE

Hector-native

DD gate consumes Hector's evidence ledger directly. Built by the same team — zero integration seam.

CONTRACTS

Valad-owned

Smart-contract development, deployment, and security audit are retained and operated by Valad. Not in this scope.

ADAPTERS

Manual → live

Every partner integration behind a swappable adapter. Manual mode at MVP; live is configuration, not a code change.

Nine engines, orchestrated

Mostly third-party integrations surfaced through one controlled workflow. At MVP each is live, sandboxed, or a controlled manual workflow — behind a swappable adapter. Flipping manual to live is configuration.

E1

Hector Admission Gate

Internal · DD & QC
Hector scorecard intake, pass / query / reject workflow. Every decision recorded with reviewer, timestamp, and rationale. Internal interface — no seam because we build both platforms.
E2

Independent Rating

Particula
On-chain asset passport & investment-grade confirmation. Live or controlled-manual; identical record shape so manual → live is configuration.
E3

NAV & Pricing

Chronicle · oracle
Tamper-resistant price feed, valuation history, redemption price. Chronicle prices land as signed, timestamped NAV records.
E4

Curation

Steakhouse
Ongoing monitoring, NAV accuracy, compliance drift, governance reporting.
E5

Collateral Readiness

Morpho · Sky
Collateral eligibility, LTV / risk params, liquidity-without-sale — surfaced as readiness data. Execution is on-chain; owned by Valad.
E6

Liquidity Routing

Aerodrome · Base
RWA-token → stablecoin routes, market depth, slippage checks. No route surfaced that can't be executed.
E7

Token Config & Handoff

Valad tokenisation interface
Structured, schema-validated token-configuration package — supply, transfer restrictions, whitelist, mint/burn policy — exported to Valad's tokenisation system. On-chain events ingested back for reconciliation.
E8

Subscription & Settlement

Fiat · stablecoin
KYC integration, wallet-whitelist state, fiat and stablecoin payment status, reconciliation ledger. Every payment matched to a subscription; daily job flags mismatches against Valad's issuance events.
E9

$KILO Utility

Off-chain · dormant at MVP
Listing-fee logic, fee-discount rules, curation-staking accounting, treasury/admin dashboard — built as a dormant module behind a client-controlled flag. Token issuance is Valad's layer.
04 — The connective tissue

The seam — where Hector hands off to Kilo

The single most important flow in the system. A Hector asset that clears the eligibility gate becomes a Kilo operating pipeline — passed by reference, not re-keyed. The same team builds both sides; this is internal code, not a vendor integration.

HECTOR

Asset created

Data room ingested, extracted, evidence-traced.

HECTOR

Score ≥ 70

Investment eligible — passes to Kilo.

KILO · E1

Admission gate

DD + evidence become Kilo's gate. No re-ingestion.

KILO

Structure & configure

Rated, priced, token-config packaged for Valad's layer.

One shared primitive makes this work

Both products are built on a single core-evidence ledger. Kilo doesn't re-collect due diligence — it references Hector's score and evidence trail directly. Get this primitive right and traceability is inherited by both products for free.

Kilo.AssetSubmission → hectorAssetId · DueDiligence(E1) = HectorScore + ExtractedField[]
05 — Scope & fee

One fixed fee for both products

A single programme, one price. The shared team, shared architecture, and shared design system across Hector and Kilo are already reflected — you are not paying twice for foundational work.

Total programme fee · fixed
$600,000
USD · excl. third-party costs listed below
Hector — all 8 engines Evidence ledger · data models · ingestion · risk · reposition · appraisal · optimisation · sensitivity · GPT · Report Centre
Included
Kilo — all 9 engines (E1–E9) Issuer onboarding · admission gate · rating · NAV · curation · collateral · liquidity · token config & handoff · subscription & settlement
Included
Shared foundations Monorepo · auth · KYC/AML · RBAC · audit log · design system · CI/CD · staging + production environments
Included
Delivery management, QA & handover Sprint cadence · Friday demos · decision log · documentation · runbooks · recorded walkthrough
Included
Smart-contract development & security audit Retained and operated by Valad
Not in scope
Third-party licences, partner fees & legal counsel Data providers · Particula · Chronicle · KYC · payments · FCA / MiCA / Reg S counsel
Client-procured

What's in and what's out

✓ InFull Hector engine-led MVP — all 8 engines, ingestion through Hector GPT
✓ InEvidence ledger & Hector data models — traceability schema, asset record, risk, repositioning, appraisal, optimisation, GPT evidence primitives
✓ InFull Kilo institutional operating infrastructure — E1–E9, Model B, subscription & settlement, reconciliation
✓ InToken-configuration package and tokenisation-handoff adapter (Valad's interface)
✓ InReport Centre — XLSX cashflow, RICS Red Book-format pack, sensitivity, capex, and covenant reports
✗ OutSmart-contract development, deployment, and security audit — retained by Valad
✗ OutOn-chain minting, transfer execution, and burn operations
✗ OutThird-party data licence fees — client-procured
✗ OutPartner commercial fees (Particula, Chronicle, Steakhouse, Morpho, Sky, Aerodrome, custody, KYC, payments)
✗ OutLegal / regulatory counsel — FCA, MiCA/CASP, CIMA, Reg S
→ LaterHector GPT voice & web-search mode · off-chain marketplace · instant sell · order-book trading desk · retail surfaces · public $KILO
06 — How we build it

Architecture — one spine, two products

A single TypeScript monorepo. The shared spine — auth, KYC, RBAC, audit, and the evidence ledger — is built once on Hector before Kilo depends on it.

  valad/ · monorepo
# pnpm + Turborepo workspace
packages/
  core-evidence  # Tier1/2/3 + confidence + source
  core-auth      # org · RBAC · SSO
  core-kyc       # 4-step KYC/AML · queue
  core-audit     # append-only log (both write)
  core-db        # Postgres schema + migrations
  ui             # the dark Valad design system
apps/
  hector-web     # Next.js · front-door + dashboards
  hector-api     # ingestion · scoring · GPT
  kilo-web       # issuer + investor dashboards
  kilo-api       # institutional operating lifecycle
  engine-workers # Temporal · durable pipelines
WebNext.js · Tailwind · shadcn/ui · Recharts
APINestJS · RBAC guards · tRPC/REST · audit
DataPostgres · Prisma · pgvector · S3/R2
JobsTemporal — scoring & lifecycle workflows
AIClaude Opus 4.8 + Haiku · Files API · structured outputs
AuthClerk / WorkOS + Sumsub / Onfido (KYC)
ChainNEAR (Rust) primary · Base/EVM secondary
HostVercel · Neon · Temporal Cloud
AI PIPELINE

Extraction as structured output

Per-doc JSON schemas; Claude returns validated rows with confidence + Files-API citations stored as provenance. No number without its source.

HUMAN GATE

Confidence review

High/Med/Low extraction review + missing-data prompts. The trust mechanism — and the liability shield.

KILO PATTERN

Swappable adapters

Every integration is an interface — Particula, Chronicle, Morpho, Sky. Manual mode ships at MVP; live is configuration, not a code change.

07 — Sequence

Build order — Hector first, then Kilo

Hector is the front door, the intelligence MVP, and the producer of Kilo's E1 input. Kilo mobilises at week 8 on the shared data model, design system, and team core. Both complete by month 6.

Hector · Release 1 — weeks 1–13

Wks 1–2 · Foundation
Monorepo, auth, evidence ledger schema, golden asset selected
Wks 1–3 · Extraction PoC
AI extraction on real Valad documents — accuracy measured before commitment
Wks 3–6 · Ingestion
Upload + parse + AI extraction + human review screen
Wks 5–8 · Connectors
2–3 priority providers live on uniform adapter SDK
Wks 7–11 · Risk + Sensitivity
12-category risk engine + core sensitivity variables
Wks 9–12 · Hector GPT v1
Cited Q&A over asset data + risk outputs
Wk 13 · Release 1 UAT
End-to-end on golden asset + 2 fresh assets

Hector · Release 2 — weeks 14–26

Wks 14–18 · Repositioning
5-stage use-class feasibility workflow
Wks 16–20 · Appraisal
3 methods + assumptions library + scenario outputs
Wks 19–23 · Optimisation + Reports
Risk-to-action strategies + Report Centre
Wks 24–26 · Handover
QA, UAT, documentation, runbooks

Kilo · from week 8 — completes month 6

Wks 1–5 · Foundations
Environments, partner audit, issuer onboarding & structuring
Wks 4–7 · Admission gate
Hector handoff, pass/query/reject, decision log
Wks 5–8 · Rating + NAV
Particula, Chronicle, Steakhouse adapters
Wks 7–10 · Token config + recon
Config package → Valad layer, on-chain event ingestion
Wks 9–12 · Subscription
KYC, whitelist, fiat + stablecoin, reconciliation
Wks 11–13 · E2E dry run
One Valad asset end-to-end with project lead
Wks 14–24 · Collateral + harden
Morpho/Sky/Aerodrome, $KILO module, partner hardening, handover
Engine-led MVP — building now North-star — deferred by scope
08 — What we're watching

Scope boundaries & deliberate exclusions

01

Smart-contract development & security audit

Tokenisation — the smart contracts that mint, hold, restrict and burn tokens, their deployment, and their security audit — is retained and operated by Valad. Kilo produces the configuration package and ingests on-chain events back for reconciliation. No contract build; no audit cycle on our side.

02

Extraction accuracy on real-world documents

Rent rolls and leases come in every format. Mitigated by the per-field accuracy proof-of-concept on Valad's real documents in week 3 — SLAs agreed before any further commitment. The harness stays in CI as a permanent regression test.

03

Tokenisation interface dependency

Kilo's reconciliation requires Valad's tokenisation system to expose a defined interface or event stream. The integration contract is defined and agreed in weeks 7–10; a manual reconciliation path covers the period before Valad's live interface is ready.

04

Regulatory & partner access

KYC, jurisdiction whitelisting, and Reg S / MiCA / FCA controls need counsel — client-provided from week 1. Partners may be sandboxed/manual at MVP; the adapter pattern absorbs that without blocking the critical path.

05

Valuation liability boundary

Hector produces evidence and analytics — not RICS sign-off. That boundary is held in the data model, the UI, and the Report Centre output format. Formal valuation sign-off remains with Valad's appointed adviser.