Migodi-Auric Documentation

What is ZAMACE? #

The Zambia Agricultural Commodities Exchange (ZAMACE) is the primary regulated commodity exchange operating in Zambia. It provides price discovery, spot market trading, and warehouse receipt infrastructure for agricultural and other physical commodities.

Migodi-Auric's Aurion Trading Platform is designed to layer institutional tokenized instruments on top of ZAMACE's physical market foundation — but only after ZAMACE coverage is broad and representative enough to support genuine derivative issuance.

⚖️

Sequencing principle: Aurion and ZAMACE must cover all commodity categories before any derivative products are listed. This is a firm strategic directive, not a roadmap aspiration. Derivatives follow proven physical volume.

Aurion Integration Architecture #

The Aurion–ZAMACE integration operates at three levels:

📋

Spot Price Feeds

ZAMACE spot prices flow into the Aurion terminal in real time, providing the reference price layer for all tokenized commodity instruments.

🏬

Warehouse Receipts

ZAMACE warehouse receipt infrastructure provides physical commodity verification that backs Coop Coins and Coop Bars on the NMX/DMX ledger.

🔄

Settlement Routing

Cooperative union transactions flow through ZAMACE's settlement infrastructure before being recorded on the Migodi-Auric ledger.

📈

Derivative Pipeline

Once full commodity coverage is achieved, ZAMACE provides the regulated exchange infrastructure for Aurion's futures and options products.

Phased Rollout #

Cooperative floor buildout

Coop Pay Ltd onboards cooperative societies province by province. ZAMACE spot market participation begins with gold and copper via Coop Coins and Coop Bars.

Agricultural commodity expansion

Grains, oilseeds, and horticulture cooperatives are integrated into the ZAMACE spot market. Believe Cash terminals activate as payment nodes for agricultural settlements.

Energy commodity integration

2,000 Zambian solar farms onboarded as the first UTMD node network. EFST (Energy Futures Sustainable Token) instruments introduced as the energy commodity layer.

Full coverage verification

CEO directive confirmed: all commodity categories covered, volume thresholds met, price discovery verified across provinces.

Derivative issuance activated

Aurion issues futures and options products through ZAMACE. Instruments settle in AGD or NDX per counterparty agreement. Blockstation exchange listings initiated.

Covered Commodities #

Commodity	ZAMACE Instrument	Aurion Instrument	Phase
Gold (10g)	Warehouse receipt	Coop Coins	Phase 1
Copper (1kg)	Warehouse receipt	Coop Bars	Phase 1
Maize	ZAMACE spot	Cooperative lot token	Phase 2
Soybean	ZAMACE spot	Cooperative lot token	Phase 2
Sunflower	ZAMACE spot	Cooperative lot token	Phase 2
Solar Energy	Energy certificate	EFST token	Phase 3
All Derivatives	ZAMACE futures/options	Aurion derivatives	Post Phase 3

Path to Derivatives #

The FCGS/CRDDF MOU suite — signed with BioCultiva, Nature Resource, and Global Invest Ltd. — governs the transition from spot market operations to derivative issuance. The suite includes a standalone Right of First Refusal (ROFR) section exercisable in NdeipiCoin, ensuring existing ecosystem participants have preferential access to derivative product tranches.

FCGS MOU — Framework Commodity Governance Structure; signed with all three counterparties
CRDDF MOU — Cooperative Resource Development and Derivative Framework; governs transition triggers
ROFR in NdeipiCoin — Existing NDX holders exercise first rights on derivative product allocations
Blockstation integration — Jamaica, Barbados, ECSE, and Nigerian stock exchange listings planned post-activation

Last updated · March 2026