Deal0000049 can tell the public exactly how many six-decimal units exist. It cannot tell the same public who owes the money. That asymmetry is the real biography of this tokenized loan.
On 14 November 2024, Tradable’s Deal Factory created 0xe53dBcEf6F700536a912c51CAEa4D0E2bE2b1388. The initializer called it Private Credit Direct Deal0000049, assigned PC0000049 and attached UUID a1629d5d-7b67-42d3-87e9-91c9f872d8b6.
That identity is narrower than the name carried by price catalogs. It proves a Tradable deal record, not by itself an EU/LatAm borrower or a senior perfected lien.
Tradable’s website shows a closed PoS Financing Senior Secured Delayed Draw Loan for a point-of-sale card-reader provider. It prints 8% target net returns, a $10 million minimum and $100 million total size.
Those figures are useful context, but “target” is the operative word. The review did not retrieve a note establishing 8% as a contractual coupon or defining its calculation and payment dates.
The creation transaction points to QmPjUZFd3itRD589YWGHrJm43FGewskeRZKGWW2Hzx4G2P. Tradable documentation says such IPFS metadata can contain anonymized description, minimum cash interest and maturity.
On 5 September 2026, Tradable’s gateway, IPFS.io, dweb.link, Pinata and Filebase returned no payload. The pointer therefore proves an attempted disclosure, not the contents claimed for it.
The legacy UUID route did not open a deal room during the review either. The accessible materials therefore left the borrower, issuer, jurisdiction and maturity unresolved; failed retrieval does not prove that these terms were never documented.
The accessible public materials reviewed did not identify the financed receivables, collateral owner, advance rate or borrowing base. They also did not supply a filing establishing lien perfection in Europe, Latin America or another jurisdiction. That is a limit of this review, not evidence that no filing or security interest exists.
Without verified deal-specific information on guarantors, the security agent, covenants, intercreditor terms and the recovery waterfall, this review cannot turn the senior-secured label into an estimate of recovery.
Tradable’s workflow screens identity, organization, geography, investor status and AML risk. The originator approves an offer and the investor signs the deal-specific subscription agreement to finalize the legal commitment.
Wallet investors may pre-fund USDC alongside their offer, while wire investors send funds after finalizing their commitment. In either route the originator must confirm receipt before deal units are minted. The token records the process; it is not the governing agreement.
PC0000049 delegates to Tradable’s shared Deal implementation. Its manager can mint, burn, force movement and rewrite eligibility, fiat markers, NAV, metadata, size and operating flags.
The holder faces the inverse rule: approve, transfer and transferFrom revert. The beacon above the proxy can also replace common logic. Permissioning is part of the asset, not a temporary website inconvenience.
Interest reaches the contract only after the originator supplies USDC; principal distributions are matched with burns. An early-redemption request can be denied, reduced or delayed by liquidity and terms.
Tradable Corp’s current terms say it provides tooling and holds neither customer funds nor securities. They place payment rights in separate transaction documents.
The 65,300,000 units and seven holders are strong evidence of the register. Determining who must repay, when, against which collateral and in what order requires the transaction documents that this review could not retrieve.
Tradable’s Deal Factory deploys the proxy with PC0000049, its UUID and an IPFS pointer.
The broader Victory Park collaboration becomes public, without assigning PC0000049’s legal roles.
The terms describe technology tooling and place transaction rights in separate party documents.
Last evidence review: 2026-09-05
PC0000049 is the six-decimal zkSync Era token at 0xe53dBcEf6F700536a912c51CAEa4D0E2bE2b1388. Its contract name is Private Credit Direct Deal0000049 and its creation transaction binds UUID a1629d5d-7b67-42d3-87e9-91c9f872d8b6 to an IPFS pointer.
Tradable’s public site separately displays a closed “PoS Financing Senior Secured Delayed Draw Loan”: a point-of-sale card-reader provider line of credit with 8% target net returns, a $10 million minimum and a $100 million deal size. The public files reviewed do not expose the legal note that proves the descriptive label, issuer or payment terms.
A blockchain can make a position countable without making the credit understandable. On 5 September 2026 the ledger showed 65,300,000 units and seven holders. It did not show the borrower, jurisdiction, maturity, lien, covenants or waterfall.
The naming gap matters. The contract says only Deal0000049; Tradable marketing and CoinGecko attach EU/LatAm PoS labels, while existing catalog prose assigns Victory Park a role absent from accessible primary documents. The IPFS file that could resolve some terms was unavailable through five gateways.
Tradable’s general workflow requires investor screening, originator approval of the offer and a signed subscription agreement establishing the legal commitment. Wallet investors may pre-fund with USDC alongside the offer; bank-wire investors fund after finalizing their commitment. Deal units are minted only after the originator confirms receipt of the funds. These are platform procedures, not verification of this deal’s private agreement. Screening includes KYC/KYB and deal-specific eligibility.
The token is a beacon proxy using Tradable’s shared Deal code. A manager can mint, burn, force movement and change eligibility, fiat tags, NAV, metadata, size and configuration; ordinary approve and transfer calls revert. The beacon also permits shared logic upgrades.
For onchain investors, the originator supplies USDC to the contract, which allocates interest pro rata. Offchain investors receive interest and principal by direct bank wire from the originator. Principal repayment is paired with the corresponding token burns. Early redemption can be denied or limited. These general routes do not establish that this deal has made a payment, and the code does not identify or enforce its private collateral package.
The contract and catalog share the exact address and symbol, but the on-chain name is generic. The unavailable IPFS/offering file prevents a complete public bridge from Deal0000049 to every descriptive legal label.
The accessible primary sources do not say. Tradable Corp describes itself as technology tooling, not the issuer or holder of customer funds. Catalog attribution to Victory Park does not establish asset-specific liability.
Tradable lists 8% as target net yield. The review did not retrieve a note establishing the coupon, calculation, payment dates, fees, default interest or guarantee.
The reviewed marketing uses the senior-secured label, but the accessible sources did not establish the borrower, collateral inventory, perfected lien, security agent, covenants or recovery waterfall. The review therefore cannot independently assess payment priority.
Standard holder transfers revert. A manager controls movement and eligibility. Early redemption follows deal documents, originator approval and available liquidity, and may be denied or partly filled.
It proves a permissioned ledger position. Interest, principal, information, collateral and enforcement rights depend on the signed note, subscription and security documents.
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