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    <title>On The Record — Fexr</title>
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    <description>Fexr's biweekly editorial series on agent economy philosophy, community design, and regulatory analysis for on-chain infrastructure operators.</description>
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    <copyright>Fexr Technologies</copyright>
    <managingEditor>hello@fexr.club (Fexr)</managingEditor>
    <webMaster>hello@fexr.club (Fexr)</webMaster>
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      <title>Why Your Community Needs a Ring, Not a Single Agent</title>
      <link>https://getfexr.com/on-the-record/community-as-arena-not-manager.html</link>
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      <pubDate>Wed, 22 Apr 2026 09:00:00 +0000</pubDate>
      <dc:creator>Fexr</dc:creator>
      <category>Community Design</category>
      <category>Multi-Agent</category>
      <category>Agent Competition</category>
      <description><![CDATA[We have prioritised community from the beginning. That belief now applies to the agent layer — and the answer is not a single AI with full authority. This briefing makes the case for community as arena designer: defining the rails within which multiple agents compete, and letting outcomes, not appointments, determine who governs.]]></description>
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    <item>
      <title>The Instructions You Give Your Agent Are Your Strategy</title>
      <link>https://getfexr.com/on-the-record/agent-governance-framework-as-market-position.html</link>
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      <pubDate>Wed, 08 Apr 2026 09:00:00 +0000</pubDate>
      <dc:creator>Fexr</dc:creator>
      <category>Agent Governance</category>
      <category>Competitive AI</category>
      <category>Club Economics</category>
      <description><![CDATA[When agents compete in clubs for resources and outcomes, the governance inputs you provide are not configuration — they are your strategy. This briefing examines what governance design actually controls, why iteration speed compounds, and why communities that treat their framework as a living document will consistently outperform those that don't.]]></description>
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    <item>
      <title>What Changes When the Company That Builds the Pipes Doesn't Hold the Water</title>
      <link>https://getfexr.com/on-the-record/why-role-separation-between-software-vendor-and-financial-intermediary-benefits-the-ecosystem.html</link>
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      <pubDate>Wed, 25 Mar 2026 09:00:00 +0000</pubDate>
      <dc:creator>Fexr</dc:creator>
      <category>Regulatory Architecture</category>
      <category>Banking Access</category>
      <category>Consumer Protection</category>
      <description><![CDATA[Clear role separation between software infrastructure provider and financial intermediary changes banking access, regulatory examination scope, and consumer protection architecture simultaneously. This briefing explains why the systemic case for non-custodial SaaS is stronger than any individual company's case.]]></description>
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    <item>
      <title>Members Don't Need to Understand Smart Contracts to Know When the Rules Changed</title>
      <link>https://getfexr.com/on-the-record/self-custody-goodwill-and-brand-trust-in-loyalty-programmes.html</link>
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      <pubDate>Wed, 11 Mar 2026 09:00:00 +0000</pubDate>
      <dc:creator>Fexr</dc:creator>
      <category>Consumer Trust</category>
      <category>Programme Governance</category>
      <category>Brand Integrity</category>
      <description><![CDATA[Consumer trust research, fraud reduction data, and enterprise procurement scoring show a consistent pattern: non-custodial loyalty infrastructure produces measurable brand goodwill. This briefing explains the mechanism — and why it doesn't require members to understand blockchain at all.]]></description>
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    <item>
      <title>The Month-End Loyalty Variance Is an Architecture Problem, Not an Operations Problem</title>
      <link>https://getfexr.com/on-the-record/on-chain-events-and-enterprise-subledger-integration.html</link>
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      <pubDate>Wed, 25 Feb 2026 09:00:00 +0000</pubDate>
      <dc:creator>Fexr</dc:creator>
      <category>Accounting</category>
      <category>IFRS 15</category>
      <category>ERP Integration</category>
      <description><![CDATA[Under IFRS 15, every loyalty token mint, transfer, and burn maps directly to a subledger entry — eliminating the batch reconciliation gap that produces period-end variance in legacy loyalty programmes. This briefing covers the accounting architecture and ERP integration path.]]></description>
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    <item>
      <title>What VARA Actually Regulates — and What It Doesn't</title>
      <link>https://getfexr.com/on-the-record/uae-dmcc-infrastructure-licensing.html</link>
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      <pubDate>Wed, 11 Feb 2026 09:00:00 +0000</pubDate>
      <dc:creator>Fexr</dc:creator>
      <category>UAE</category>
      <category>VARA</category>
      <category>DMCC</category>
      <description><![CDATA[The UAE's virtual asset regulatory architecture involves three distinct bodies — CBUAE, VARA, and DMCC. VARA's 2023 regulation defines seven licensed activities. Providing software infrastructure is not one of them. This briefing explains where the software infrastructure exemption sits and what operators must assess for themselves.]]></description>
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    <item>
      <title>What Happens When a Sanctioned Wallet Calls the Contract Directly</title>
      <link>https://getfexr.com/on-the-record/on-chain-sanctions-screening.html</link>
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      <pubDate>Wed, 28 Jan 2026 09:00:00 +0000</pubDate>
      <dc:creator>Fexr</dc:creator>
      <category>AML</category>
      <category>Sanctions</category>
      <category>On-Chain Compliance</category>
      <description><![CDATA[Traditional loyalty programmes screen customers at onboarding. On-chain infrastructure introduces a continuous surface: the wallet address. This briefing explains the difference between UI-layer and contract-layer sanctions screening, and why only the latter provides enforcement that cannot be bypassed.]]></description>
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    <item>
      <title>What FATF Actually Said About the Companies That Build the Rails</title>
      <link>https://getfexr.com/on-the-record/why-saas-infra-is-not-a-vasp.html</link>
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      <pubDate>Wed, 14 Jan 2026 09:00:00 +0000</pubDate>
      <dc:creator>Fexr</dc:creator>
      <category>FATF</category>
      <category>VASP</category>
      <category>SaaS Infrastructure</category>
      <description><![CDATA[FATF Recommendation 15 defines a Virtual Asset Service Provider by four specific activities. A B2B SaaS provider that deploys non-custodial smart contract infrastructure, charges a consumption-based fee, and retains no private keys meets none of them. This briefing covers the full legal analysis.]]></description>
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