Conclusion

The WERC7575 system implements:

1. Settlement Layer: Operational platform for telecom carrier settlements
   • Permissionless deposits (operational necessity)
   • Permission-required withdrawals (settlement safety)
   • Batch settlement optimization (cost efficiency)
   • Non-upgradeable architecture (stability)
2. Investment Layer: Capital deployment into settlement operations
   • Async operations (capital efficiency)
   • Professional management (risk management)
   • Upgradeable architecture (regulatory flexibility)
   • Yield generation from telecom settlements

Both architectures are centralized BY DESIGN for legitimate business reasons, not due to oversight or lack of sophistication.

Auditors should focus on: Security vulnerabilities within the intended design, Business logic correctness, Standards compliance, Upgrade safety.

NOT: The centralization itself, Comparison to DeFi ideals, Philosophical objections.

Document Version: 1.0

Last Updated: 2025-01-05

Context: Telecom Wholesale Voice Traffic Settlement + Investment Platform