> For the complete documentation index, see [llms.txt](https://city-protocol.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://city-protocol.gitbook.io/docs/tokenization-as-a-service/tokenization-architecture/participants.md).

# Participants

The TaaS layer coordinates multiple participants.

<table><thead><tr><th width="279.33203125">Participant</th><th>Role</th></tr></thead><tbody><tr><td>Yield Provider / Asset Originator</td><td>Sources the underlying asset, credit exposure, fund strategy, trading strategy, or RWA-backed yield source.</td></tr><tr><td>Strategy Manager</td><td>Manages strategy execution, risk limits, performance reporting, and operational updates.</td></tr><tr><td>Third-Party Verifier</td><td>Verifies reserves, NAV inputs, service-provider data, collateralization, or other product claims.</td></tr><tr><td>City Protocol TaaS Layer</td><td>Provides token issuance, investor controls, oracle infrastructure, attestation registry, subscription and redemption workflows, and distribution interfaces.</td></tr><tr><td>Neofinance Platform</td><td>Integrates tokenized products into user-facing applications, including City Neobank and partner apps.</td></tr><tr><td>Yield Investor</td><td>Subscribes, holds, redeems, or uses the tokenized product according to eligibility and product terms.</td></tr></tbody></table>