> For the complete documentation index, see [llms.txt](https://docs.sierra.money/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.sierra.money/building-with-sierra/legal-structure.md). # Legal Structure The Sierra Protocol is governed by the Sierra Foundation, which is domiciled in the Cayman Islands and has appointed [Leeward](https://leeward.ky/) as the Supervisor of the Foundation. Sierra has a wholly-owned subsidiary, Sierra Reserve Limited in the BVI, which is the issuing entity of all Vaults and LVTs. Institutional users who complete onboarding with Sierra Reserve Limited are [Authorized Participants](/additional-resources/authorized-participant-onboarding.md) and whitelisted to directly access [Minting and Redeeming](/building-with-sierra/minting-and-redeeming.md) functionality. Sierra Foundation and Sierra Reserve Limited have a Master Lending Agreement with OpenTrade SPC, a bankruptcy-remote entity in the Cayman Islands. The OpenTrade SPC is overseen by an independent third-party trustee with a perfected security interest and managed by a multi-billion dollar FCA-regulated institutional asset manager. All reserves backing Vaults and LVTs are lent to the OpenTrade SPC, where RWAs are held in Tier 1 institutional custodians (i.e. J.P. Morgan). --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.sierra.money/building-with-sierra/legal-structure.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.