TokenMesa — Service-Backed Utility Tokens

1. Core Product Structure

TokenMesa enables service providers to issue service-backed tokens that are strictly tied to redeemable access to real services. The design intentionally eliminates features associated with investment tokens.

Key mechanics:

• No token presale / no fundraising: Tokens are not sold to investors. No ICO, IDO, or TGE.
• Self-funded liquidity: Service provider supplies initial liquidity themselves; no capital is raised from the public or investors.
• User flow:
  • User pays in USDC
  • TokenMesa converts USDC → service token at market rate
  • Token is immediately redeemable for the underlying service
  • Merchant receives USDC as payment for provided services
• Full redeemability: Tokens function as prepaid service credits, not investment instruments.

2. Security Classification Risk Summary

Regulatory frameworks considered

• U.S. Howey Test
• FinCEN Utility vs. Money Transmission
• CFTC “Commodity” vs. “Derivative” framework
• EU MiCA requirements (utilities vs. asset-referenced tokens)
• MAS (Singapore) Digital Payment Token rules

Across all major jurisdictions, the key question is:

“Does the token confer rights to profits or investment expectation, or is it purely a redeemable utility credit?”

Your design (TokenMesa) intentionally avoids all four prongs of the Howey Test, which is the strictest token compliance framework.