diff --git a/Cargo.lock b/Cargo.lock
index 9aa43d8..e9ef5b5 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -18,9 +18,9 @@ dependencies = [
 
 [[package]]
 name = "addr2line"
-version = "0.25.1"
+version = "0.27.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1b5d307320b3181d6d7954e663bd7c774a838b8220fe0593c86d9fb09f498b4b"
+checksum = "e567177890eb1617b1f774005b66b26b2377afd138a2ca37aae7d8f0c81429d4"
 dependencies = [
  "gimli",
 ]
@@ -58,9 +58,9 @@ checksum = "683d7910e743518b0e34f1186f92494becacb047c7b6bf616c96772180fef923"
 
 [[package]]
 name = "android_system_properties"
-version = "0.1.6"
+version = "0.1.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ae221649c9976a6f6c56ae1facf410f3ddb33cc661c4b7b61020a912d4237fbc"
+checksum = "819e7219dbd41043ac279b19830f2efc897156490d7fd6ea916720117ee66311"
 dependencies = [
  "libc",
 ]
@@ -129,7 +129,7 @@ dependencies = [
  "ark-serialize",
  "ark-std",
  "arrayvec",
- "digest 0.10.7",
+ "digest",
  "educe",
  "itertools 0.13.0",
  "num-bigint",
@@ -185,7 +185,7 @@ dependencies = [
  "ark-serialize-derive",
  "ark-std",
  "arrayvec",
- "digest 0.10.7",
+ "digest",
  "num-bigint",
 ]
 
@@ -231,9 +231,9 @@ checksum = "f2032f911046de80f0a198e0901378627c33f59ea0ac00e363d481118bd70a53"
 
 [[package]]
 name = "backtrace"
-version = "0.3.76"
+version = "0.3.77"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bb531853791a215d7c62a30daf0dde835f381ab5de4589cfe7c649d2cbe92bd6"
+checksum = "42f4220217f3288537b83684130f42fad43320b1c3b805f1910d683d52ded24f"
 dependencies = [
  "addr2line",
  "cfg-if",
@@ -327,15 +327,6 @@ dependencies = [
  "generic-array",
 ]
 
-[[package]]
-name = "block-buffer"
-version = "0.12.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d2f6c7dbe95a6ed67ad9f18e57daf93a2f034c524b99fd2b76d18fdfeb6660aa"
-dependencies = [
- "hybrid-array",
-]
-
 [[package]]
 name = "borsh"
 version = "1.8.1"
@@ -427,9 +418,9 @@ dependencies = [
 
 [[package]]
 name = "cc"
-version = "1.9.0"
+version = "1.4.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "877bf67ac8e52449eb2f9e98a344ea163beb70dd1f9eebe3cc5357dcfeaee4df"
+checksum = "5add81bb678e6cb321aff7fa0dc7689ad82b112dbc032cea19f91d6b8e3582b9"
 dependencies = [
  "find-msvc-tools",
  "shlex",
@@ -546,6 +537,13 @@ dependencies = [
  "serde_json",
 ]
 
+[[package]]
+name = "credit-scoring"
+version = "0.1.0"
+dependencies = [
+ "soroban-sdk 27.0.6",
+]
+
 [[package]]
 name = "crypto-bigint"
 version = "0.5.5"
@@ -568,16 +566,6 @@ dependencies = [
  "typenum",
 ]
 
-[[package]]
-name = "crypto-common"
-version = "0.2.2"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ce6e4c961d6cd6c9a86db418387425e8bdeaf05b3c8bc1411e6dca4c252f1453"
-dependencies = [
- "hybrid-array",
- "rand_core 0.10.1",
-]
-
 [[package]]
 name = "ctor"
 version = "0.2.9"
@@ -613,25 +601,8 @@ dependencies = [
  "cfg-if",
  "cpufeatures 0.2.17",
  "curve25519-dalek-derive",
- "digest 0.10.7",
- "fiat-crypto 0.2.9",
- "rustc_version",
- "subtle",
- "zeroize",
-]
-
-[[package]]
-name = "curve25519-dalek"
-version = "5.0.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b5eed333089e2e1c1ac8c6c0398e5e2497b4c9926ca6d0365ed1e099afa5bc23"
-dependencies = [
- "cfg-if",
- "cpufeatures 0.3.1",
- "curve25519-dalek-derive",
- "digest 0.11.3",
- "fiat-crypto 0.3.0",
- "rand_core 0.10.1",
+ "digest",
+ "fiat-crypto",
  "rustc_version",
  "subtle",
  "zeroize",
@@ -790,22 +761,12 @@ version = "0.10.7"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "9ed9a281f7bc9b7576e61468ba615a66a5c8cfdff42420a70aa82701a3b1e292"
 dependencies = [
- "block-buffer 0.10.4",
+ "block-buffer",
  "const-oid",
- "crypto-common 0.1.6",
+ "crypto-common",
  "subtle",
 ]
 
-[[package]]
-name = "digest"
-version = "0.11.3"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f1dd6dbb5841937940781866fa1281a1ff7bd3bf827091440879f9994983d5c2"
-dependencies = [
- "block-buffer 0.12.1",
- "crypto-common 0.2.2",
-]
-
 [[package]]
 name = "dividend-reinvestment"
 version = "0.1.0"
@@ -861,10 +822,10 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "ee27f32b5c5292967d2d4a9d7f1e0b0aed2c15daded5a60300e4abb9d8020bca"
 dependencies = [
  "der",
- "digest 0.10.7",
+ "digest",
  "elliptic-curve",
  "rfc6979",
- "signature 2.2.0",
+ "signature",
 ]
 
 [[package]]
@@ -874,16 +835,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "115531babc129696a58c64a4fef0a8bf9e9698629fb97e9e40767d235cfbcd53"
 dependencies = [
  "pkcs8",
- "signature 2.2.0",
-]
-
-[[package]]
-name = "ed25519"
-version = "3.0.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "29fcf32e6c73d1079f83ab4d782de2d81620346a5f38c6237a86a22f8368980a"
-dependencies = [
- "signature 3.0.0",
+ "signature",
 ]
 
 [[package]]
@@ -892,26 +844,11 @@ version = "2.2.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "70e796c081cee67dc755e1a36a0a172b897fab85fc3f6bc48307991f64e4eca9"
 dependencies = [
- "curve25519-dalek 4.1.3",
- "ed25519 2.2.3",
+ "curve25519-dalek",
+ "ed25519",
  "rand_core 0.6.4",
  "serde",
- "sha2 0.10.9",
- "subtle",
- "zeroize",
-]
-
-[[package]]
-name = "ed25519-dalek"
-version = "3.0.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "6ebaa1a2bf1290ab3bfe5a7b771d050ebffab2711c19a81691c683a5144a25de"
-dependencies = [
- "curve25519-dalek 5.0.0",
- "ed25519 3.0.0",
- "rand_core 0.10.1",
- "sha2 0.11.1",
- "signature 3.0.0",
+ "sha2",
  "subtle",
  "zeroize",
 ]
@@ -942,7 +879,7 @@ checksum = "b5e6043086bf7973472e0c7dff2142ea0b680d30e18d9cc40f267efbf222bd47"
 dependencies = [
  "base16ct",
  "crypto-bigint",
- "digest 0.10.7",
+ "digest",
  "ff",
  "generic-array",
  "group",
@@ -1013,13 +950,6 @@ dependencies = [
  "soroban-sdk 27.0.6",
 ]
 
-[[package]]
-name = "fee-treasury"
-version = "0.1.0"
-dependencies = [
- "soroban-sdk 27.0.6",
-]
-
 [[package]]
 name = "ff"
 version = "0.13.1"
@@ -1036,17 +966,11 @@ version = "0.2.9"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "28dea519a9695b9977216879a3ebfddf92f1c08c05d984f8996aecd6ecdc811d"
 
-[[package]]
-name = "fiat-crypto"
-version = "0.3.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "64cd1e32ddd350061ae6edb1b082d7c54915b5c672c389143b9a63403a109f24"
-
 [[package]]
 name = "find-msvc-tools"
-version = "0.1.15"
+version = "0.1.9"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1c66915cc5391097de7a2b0b972e8505aa33c0df401fd3a6811dbdb32881ba48"
+checksum = "5baebc0774151f905a1a2cc41989300b1e6fbb29aff0ceffa1064fdd3088d582"
 
 [[package]]
 name = "fnv"
@@ -1056,21 +980,21 @@ checksum = "3f9eec918d3f24069decb9af1554cad7c880e2da24a9afd88aca000531ab82c1"
 
 [[package]]
 name = "futures-core"
-version = "0.3.34"
+version = "0.3.33"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "92d699e522242e69e3003b94ecc1f960f3a5e015aa7c5d7486e65ad01dd94f5e"
+checksum = "2cd50c473c80f6d7c3670a752354b8e569b1a7cbfdc0419ec88e5edad85e0dc7"
 
 [[package]]
 name = "futures-task"
-version = "0.3.34"
+version = "0.3.33"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "cd417de3d1d015fc3bfd2b1ea46dfc7bab72ef86f1cc7cc9c78e728b34a6d1fd"
+checksum = "b231ed28831efb4a61a08580c4bc233ec56bc009f4cd8f52da2c3cb97df0c109"
 
 [[package]]
 name = "futures-util"
-version = "0.3.34"
+version = "0.3.33"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0d50a92467f8ba5dd6e3ee5d4bd04d73ab2e4e1c44474a0674821dfce14b79bc"
+checksum = "a77a90a256fce34da66415271e30f94ee91c57b04b8a2c042d9cf3220179deaa"
 dependencies = [
  "futures-core",
  "futures-task",
@@ -1116,9 +1040,9 @@ dependencies = [
 
 [[package]]
 name = "gimli"
-version = "0.32.3"
+version = "0.34.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e629b9b98ef3dd8afe6ca2bd0f89306cec16d43d907889945bc5d6687f2f13c7"
+checksum = "1033caf0b349c518623b5396bfb2cf0bddf44f0306d543a250e5743297aafd10"
 
 [[package]]
 name = "grace-interest"
@@ -1205,16 +1129,7 @@ version = "0.12.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "6c49c37c09c17a53d937dfbb742eb3a961d65a994e6bcdcf37e7399d0cc8ab5e"
 dependencies = [
- "digest 0.10.7",
-]
-
-[[package]]
-name = "hybrid-array"
-version = "0.4.15"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "27f864f10dfb56725ce5ce5472bc52252c8f93a4ab86327122cebf62c5f59a17"
-dependencies = [
- "typenum",
+ "digest",
 ]
 
 [[package]]
@@ -1370,6 +1285,13 @@ dependencies = [
  "soroban-sdk 27.0.6",
 ]
 
+[[package]]
+name = "invoice-milestone"
+version = "0.1.0"
+dependencies = [
+ "soroban-sdk 27.0.6",
+]
+
 [[package]]
 name = "invoice-performance-alert"
 version = "0.1.0"
@@ -1499,9 +1421,9 @@ dependencies = [
 
 [[package]]
 name = "js-sys"
-version = "0.3.106"
+version = "0.3.103"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7883d941dae510fb2d978fc3fe018c71c9e2892fd38854de3e8b92c2e5ad9cc5"
+checksum = "53b44bfcdb3f8d5837a46dae1ca9660a837176eee74a28b229bc626816589102"
 dependencies = [
  "cfg-if",
  "futures-util",
@@ -1517,7 +1439,7 @@ dependencies = [
  "cfg-if",
  "ecdsa",
  "elliptic-curve",
- "sha2 0.10.9",
+ "sha2",
 ]
 
 [[package]]
@@ -1556,9 +1478,9 @@ checksum = "32a66949e030da00e8c7d4434b251670a91556f4144941d37452769c25d58a53"
 
 [[package]]
 name = "log"
-version = "0.4.34"
+version = "0.4.35"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f9f8bd3e56ce4dfc153cf470fffbfa98c7620958b312ca5c3a4b8d5181fd13c6"
+checksum = "5d15f86d12da44cd8d4ec3c73984537eb7f4cadcb9776a575a0a8a05ca11005c"
 
 [[package]]
 name = "loyalty-tier"
@@ -1586,9 +1508,9 @@ checksum = "cf8baf1c55e62ffcace7a9f06f4bd9cd3f0c4beb022d3b367256b91b87513d98"
 
 [[package]]
 name = "miniz_oxide"
-version = "0.8.9"
+version = "0.9.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1fa76a2c86f704bdb222d66965fb3d63269ce38518b83cb0575fca855ebb6316"
+checksum = "b63fbc4a50860e98e7b2aa7804ded1db5cbc3aff9193adaff57a6931bf7c4b4c"
 dependencies = [
  "adler2",
 ]
@@ -1654,9 +1576,9 @@ dependencies = [
 
 [[package]]
 name = "object"
-version = "0.37.3"
+version = "0.40.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ff76201f031d8863c38aa7f905eca4f53abbfa15f609db4277d44cd8938f33fe"
+checksum = "dd229a0361b9d0d4396176e02d65897f487eebeab7caa6d443855ee152ca0b9c"
 dependencies = [
  "memchr",
 ]
@@ -1681,6 +1603,13 @@ dependencies = [
  "soroban-sdk 27.0.6",
 ]
 
+[[package]]
+name = "overcollateral-reward"
+version = "0.1.0"
+dependencies = [
+ "soroban-sdk 27.0.6",
+]
+
 [[package]]
 name = "p256"
 version = "0.13.2"
@@ -1690,7 +1619,7 @@ dependencies = [
  "ecdsa",
  "elliptic-curve",
  "primeorder",
- "sha2 0.10.9",
+ "sha2",
 ]
 
 [[package]]
@@ -2046,6 +1975,13 @@ dependencies = [
  "zeroize",
 ]
 
+[[package]]
+name = "secondary-cooldown"
+version = "0.1.0"
+dependencies = [
+ "soroban-sdk 27.0.6",
+]
+
 [[package]]
 name = "secondary-market"
 version = "0.1.0"
@@ -2053,6 +1989,13 @@ dependencies = [
  "soroban-sdk 27.0.6",
 ]
 
+[[package]]
+name = "secondary-market-oracle"
+version = "0.1.0"
+dependencies = [
+ "soroban-sdk 27.0.6",
+]
+
 [[package]]
 name = "secondary-trade-history"
 version = "0.1.0"
@@ -2151,18 +2094,7 @@ checksum = "a7507d819769d01a365ab707794a4084392c824f54a7a6a7862f8c3d0892b283"
 dependencies = [
  "cfg-if",
  "cpufeatures 0.2.17",
- "digest 0.10.7",
-]
-
-[[package]]
-name = "sha2"
-version = "0.11.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "47d7069beb7d6ac7b9acd1039986e73443f24234f41074da099d6f994ac9ad19"
-dependencies = [
- "cfg-if",
- "cpufeatures 0.3.1",
- "digest 0.11.3",
+ "digest",
 ]
 
 [[package]]
@@ -2171,7 +2103,7 @@ version = "0.10.9"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "77fd7028345d415a4034cf8777cd4f8ab1851274233b45f84e3d955502d93874"
 dependencies = [
- "digest 0.10.7",
+ "digest",
  "keccak",
 ]
 
@@ -2187,19 +2119,10 @@ version = "2.2.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "77549399552de45a898a580c1b41d445bf730df867cc44e6c0233bbc4b8329de"
 dependencies = [
- "digest 0.10.7",
+ "digest",
  "rand_core 0.6.4",
 ]
 
-[[package]]
-name = "signature"
-version = "3.0.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "28d567dcbaf0049cb8ac2608a76cd95ff9e4412e1899d389ee400918ca7537f5"
-dependencies = [
- "rand_core 0.10.1",
-]
-
 [[package]]
 name = "slab"
 version = "0.4.12"
@@ -2208,9 +2131,9 @@ checksum = "0c790de23124f9ab44544d7ac05d60440adc586479ce501c1d6d7da3cd8c9cf5"
 
 [[package]]
 name = "smallvec"
-version = "1.16.3"
+version = "1.16.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "5b3dc8af474f516a851ff4bd12db780f948b9250ad37211e4eec0bccea54e01b"
+checksum = "d0d5d4b1981b8bbbb7aed204cae5726d683d5d6ac7e74ec54122ea28f315e7c8"
 
 [[package]]
 name = "soroban-builtin-sdk-macros"
@@ -2301,9 +2224,9 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "2b7a32c28f281c423189f1298960194f0e0fc4eeb72378028171e556d8cd6160"
 dependencies = [
  "backtrace",
- "curve25519-dalek 5.0.0",
+ "curve25519-dalek",
  "ecdsa",
- "ed25519-dalek 3.0.0",
+ "ed25519-dalek",
  "elliptic-curve",
  "generic-array",
  "getrandom 0.2.17",
@@ -2317,7 +2240,7 @@ dependencies = [
  "rand 0.8.8",
  "rand_chacha",
  "sec1",
- "sha2 0.10.9",
+ "sha2",
  "sha3",
  "soroban-builtin-sdk-macros 21.2.1",
  "soroban-env-common 21.2.1",
@@ -2338,9 +2261,9 @@ dependencies = [
  "ark-ec",
  "ark-ff",
  "ark-serialize",
- "curve25519-dalek 5.0.0",
+ "curve25519-dalek",
  "ecdsa",
- "ed25519-dalek 2.2.0",
+ "ed25519-dalek",
  "elliptic-curve",
  "generic-array",
  "getrandom 0.2.17",
@@ -2354,7 +2277,7 @@ dependencies = [
  "rand 0.8.8",
  "rand_chacha",
  "sec1",
- "sha2 0.10.9",
+ "sha2",
  "sha3",
  "soroban-builtin-sdk-macros 27.0.1",
  "soroban-env-common 27.0.1",
@@ -2432,7 +2355,7 @@ dependencies = [
  "bytes-lit 0.0.5",
  "ctor 0.2.9",
  "derive_arbitrary",
- "ed25519-dalek 2.2.0",
+ "ed25519-dalek",
  "rand 0.8.8",
  "rustc_version",
  "serde",
@@ -2455,7 +2378,7 @@ dependencies = [
  "crate-git-revision 0.0.9",
  "ctor 0.5.0",
  "derive_arbitrary",
- "ed25519-dalek 2.2.0",
+ "ed25519-dalek",
  "rand 0.8.8",
  "rustc_version",
  "serde",
@@ -2480,7 +2403,7 @@ dependencies = [
  "proc-macro2",
  "quote",
  "rustc_version",
- "sha2 0.10.9",
+ "sha2",
  "soroban-env-common 21.2.1",
  "soroban-spec 21.7.7",
  "soroban-spec-rust 21.7.7",
@@ -2500,7 +2423,7 @@ dependencies = [
  "macro-string",
  "proc-macro2",
  "quote",
- "sha2 0.10.9",
+ "sha2",
  "soroban-env-common 27.0.1",
  "soroban-spec 27.0.6",
  "soroban-spec-rust 27.0.6",
@@ -2527,7 +2450,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "473404322827b285cbcd87517f365986bd63af7842c78b2a86ee061715fda61e"
 dependencies = [
  "base64 0.22.1",
- "sha2 0.10.9",
+ "sha2",
  "stellar-xdr 27.0.0",
  "thiserror 1.0.69",
  "wasmparser",
@@ -2542,7 +2465,7 @@ dependencies = [
  "prettyplease",
  "proc-macro2",
  "quote",
- "sha2 0.10.9",
+ "sha2",
  "soroban-spec 21.7.7",
  "stellar-xdr 21.2.0",
  "syn 2.0.119",
@@ -2558,7 +2481,7 @@ dependencies = [
  "prettyplease",
  "proc-macro2",
  "quote",
- "sha2 0.10.9",
+ "sha2",
  "soroban-spec 27.0.6",
  "stellar-xdr 27.0.0",
  "syn 2.0.119",
@@ -2676,7 +2599,7 @@ dependencies = [
  "hex",
  "serde",
  "serde_with",
- "sha2 0.10.9",
+ "sha2",
  "stellar-strkey 0.0.13",
 ]
 
@@ -2833,6 +2756,13 @@ dependencies = [
  "winnow",
 ]
 
+[[package]]
+name = "transfer-restriction"
+version = "0.1.0"
+dependencies = [
+ "soroban-sdk 27.0.6",
+]
+
 [[package]]
 name = "treasury-management"
 version = "0.1.0"
@@ -2899,9 +2829,9 @@ checksum = "ccf3ec651a847eb01de73ccad15eb7d99f80485de043efb2f370cd654f4ea44b"
 
 [[package]]
 name = "wasm-bindgen"
-version = "0.2.129"
+version = "0.2.126"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "9bb54f33acc68fd454578d9820b0bde1a1a3d17aa17bb7b6595806d02886d409"
+checksum = "4b067c0c11094aef6b7a801c1e34a26affafdf3d051dba08456b868789aaf9a4"
 dependencies = [
  "cfg-if",
  "once_cell",
@@ -2912,9 +2842,9 @@ dependencies = [
 
 [[package]]
 name = "wasm-bindgen-macro"
-version = "0.2.129"
+version = "0.2.126"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2e29d0c35b16e224a7eeb5cd2d25e3e1968fbd65604117b44d3b789d00ee8535"
+checksum = "167ce5e579f6bcf889c4f7175a8a5a585de84e8ff93976ce393efa5f2837aab1"
 dependencies = [
  "quote",
  "wasm-bindgen-macro-support",
@@ -2922,22 +2852,22 @@ dependencies = [
 
 [[package]]
 name = "wasm-bindgen-macro-support"
-version = "0.2.129"
+version = "0.2.126"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "6f501a8bc3719dba86ef8ae4728879c08001bea749eb1333ac5b91e040e2a6b7"
+checksum = "f3997c7839262f4ef12cf90b818d6340c18e80f263f1a94bf157d0ec4420380e"
 dependencies = [
  "bumpalo",
  "proc-macro2",
  "quote",
- "syn 3.0.9",
+ "syn 2.0.119",
  "wasm-bindgen-shared",
 ]
 
 [[package]]
 name = "wasm-bindgen-shared"
-version = "0.2.129"
+version = "0.2.126"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "23f0c9c52aa7cd7d77769a4cfe2a9adb1b331f489a41d912ce14513d5ab995c6"
+checksum = "dc1b4cb0cc549fcf58d7dfc081778139b3d283a081644e833e84682ad71cea24"
 dependencies = [
  "unicode-ident",
 ]
diff --git a/contracts/invoice-escrow/src/events.rs b/contracts/invoice-escrow/src/events.rs
index 2b9536c..f6966cf 100644
--- a/contracts/invoice-escrow/src/events.rs
+++ b/contracts/invoice-escrow/src/events.rs
@@ -176,6 +176,27 @@ pub fn early_settlement_applied(
     );
 }
 
+/// Investment made event (#518): emitted when an investor locks funds into
+/// an invoice's escrow via `invest`. `investment_topped_up` below covers a
+/// separate, legacy top-up path; this is the primary event for the
+/// multi-investor `FundingInvoice` flow.
+pub fn investment_made(
+    env: &Env,
+    investor: &Address,
+    invoice_id: BytesN<32>,
+    amount: i128,
+    new_total_position: i128,
+) {
+    env.events().publish(
+        (
+            Symbol::new(env, "investment_made"),
+            investor.clone(),
+            invoice_id.clone(),
+        ),
+        (amount, new_total_position),
+    );
+}
+
 /// Investment topped up event.
 pub fn investment_topped_up(
     env: &Env,
diff --git a/contracts/invoice-escrow/src/lib.rs b/contracts/invoice-escrow/src/lib.rs
index 50d4d02..c7a2bf1 100644
--- a/contracts/invoice-escrow/src/lib.rs
+++ b/contracts/invoice-escrow/src/lib.rs
@@ -1751,6 +1751,7 @@ impl InvoiceEscrow {
             min_investment,
             per_investor_cap,
             token,
+            None,
         )
     }
 
@@ -1767,6 +1768,7 @@ impl InvoiceEscrow {
         min_investment: i128,
         per_investor_cap: Option<i128>,
         token: Address,
+        fraction_token: Option<Address>,
     ) -> Result<(), Error> {
         seller.require_auth();
         Self::create_invoice_core(
@@ -1780,6 +1782,7 @@ impl InvoiceEscrow {
             min_investment,
             per_investor_cap,
             token,
+            fraction_token,
         )
     }
 
@@ -1795,6 +1798,7 @@ impl InvoiceEscrow {
         min_investment: i128,
         per_investor_cap: Option<i128>,
         token: Address,
+        fraction_token: Option<Address>,
     ) -> Result<(), Error> {
         if funding_target <= 0 {
             return Err(Error::InvalidAmount);
@@ -1827,6 +1831,7 @@ impl InvoiceEscrow {
             min_funding_threshold,
             max_funding_threshold,
             threshold_reached: false,
+            fraction_token,
         };
         storage::set_invoice(env, invoice_id.clone(), &invoice);
         events::funding_thresholds_set(
@@ -2190,6 +2195,7 @@ impl InvoiceEscrow {
             // be paid out of other investors' principal or issuer collateral.
             storage::set_investor_position(&env, &invoice_id, &investor, new_pos);
             investor_cap::sync_holder(&env, &invoice_id, &investor);
+            let fraction_token = invoice.fraction_token.clone();
             invoice.total_raised = new_total;
             storage::set_invoice(&env, invoice_id.clone(), &invoice);
             if returned > 0 {
@@ -2202,6 +2208,27 @@ impl InvoiceEscrow {
                     returned,
                 );
             }
+
+            // Mint fraction tokens to the investor to represent their
+            // ownership share (#517), same pattern as the legacy
+            // create_escrow_with_tokens path's inv_token mint below. Scaled
+            // to `accepted`, not the originally requested `amount`: any
+            // `returned` remainder above the funding cap was refunded to
+            // the investor and must not also get a fraction-token claim.
+            if let Some(fraction_token) = fraction_token {
+                env.invoke_contract::<()>(
+                    &fraction_token,
+                    &Symbol::new(&env, "mint"),
+                    soroban_sdk::vec![
+                        &env,
+                        investor.to_val(),
+                        accepted.into_val(&env),
+                        env.current_contract_address().to_val()
+                    ],
+                );
+            }
+
+            events::investment_made(&env, &investor, invoice_id, accepted, new_pos);
             return Ok(());
         }
 
diff --git a/contracts/invoice-escrow/src/test.rs b/contracts/invoice-escrow/src/test.rs
index 79ec1f0..d03558c 100644
--- a/contracts/invoice-escrow/src/test.rs
+++ b/contracts/invoice-escrow/src/test.rs
@@ -1,11 +1,13 @@
 #![allow(deprecated, unused_variables, dead_code, unused_mut, clippy::all)]
 
 use super::*;
+use invoice_token::{InvoiceToken, InvoiceTokenClient};
 use soroban_sdk::testutils::{Address as _, Events, Ledger};
 use soroban_sdk::token::Client as TokenClient;
 use soroban_sdk::token::StellarAssetClient as AssetClient;
 use soroban_sdk::{
-    contract, contractimpl, Address, BytesN, Env, IntoVal, Symbol, TryFromVal, TryIntoVal, Val, Vec,
+    contract, contractimpl, Address, BytesN, Env, IntoVal, String as SorobanString, Symbol,
+    TryFromVal, TryIntoVal, Val, Vec,
 };
 
 /// Helper function to create a test commitment hash (SHA-256 format)
@@ -11029,3 +11031,127 @@ fn issue455_fill_to_target_under_cap_pressure() {
         EscrowStatus::Funded
     );
 }
+
+/// `invest` on the multi-investor `FundingInvoice` flow (created via
+/// `create_invoice`, distinct from the legacy `register_invoice`/
+/// `EscrowStatus` path) silently emitted no event at all — every other
+/// state-changing call in this contract emits one (#518's acceptance
+/// criteria: "Events emitted correctly for all state transitions"). Covers
+/// the fix: `investment_made` is published with the investor, invoice id,
+/// amount, and the investor's new total position.
+#[test]
+fn test_invest_on_funding_invoice_emits_investment_made_event() {
+    let env = Env::default();
+    env.mock_all_auths();
+    let contract_id = env.register_contract(None, InvoiceEscrow);
+    let client = InvoiceEscrowClient::new(&env, &contract_id);
+
+    let admin = Address::generate(&env);
+    let seller = Address::generate(&env);
+    let investor = Address::generate(&env);
+    let invoice_id = BytesN::from_array(&env, &[200u8; 32]);
+
+    let token_admin = Address::generate(&env);
+    let token_id = env.register_stellar_asset_contract_v2(token_admin.clone());
+    let token = TokenClient::new(&env, &token_id.address());
+    let token_asset = AssetClient::new(&env, &token_id.address());
+    token_asset.mint(&investor, &100_000i128);
+
+    client.initialize(&admin, &300);
+    client.create_invoice_legacy(
+        &invoice_id,
+        &seller,
+        &100_000i128,
+        &1_000u32,
+        &1_000i128,
+        &None,
+        &token_id.address(),
+        &None,
+    );
+
+    client.invest(&invoice_id, &investor, &40_000i128);
+
+    assert_eq!(token.balance(&investor), 60_000i128);
+
+    let events = env.events().all();
+    let event = events
+        .events()
+        .iter()
+        .rev()
+        .find(|e| {
+            let (_, topics, _) = parse_event(&env, e);
+            topics
+                .get(0)
+                .map(|t| {
+                    Symbol::try_from_val(&env, &t).unwrap() == Symbol::new(&env, "investment_made")
+                })
+                .unwrap_or(false)
+        })
+        .expect("expected investment_made event");
+
+    let (_contract_addr, topics, data) = parse_event(&env, event);
+    assert_eq!(
+        topics,
+        (
+            Symbol::new(&env, "investment_made"),
+            investor.clone(),
+            invoice_id.clone(),
+        )
+            .into_val(&env)
+    );
+    let event_data: (i128, i128) = data.try_into_val(&env).unwrap();
+    assert_eq!(event_data.0, 40_000i128); // amount invested
+    assert_eq!(event_data.1, 40_000i128); // new total position
+}
+
+/// `invest` on a `FundingInvoice` created with a `fraction_token` set
+/// mints the investor that many fraction tokens on the configured
+/// invoice-token contract (#517), so their ownership share has an
+/// on-chain representation, not just an internal storage entry.
+#[test]
+fn test_invest_mints_fraction_tokens_when_fraction_token_configured() {
+    let env = Env::default();
+    env.mock_all_auths();
+    let escrow_id = env.register_contract(None, InvoiceEscrow);
+    let escrow = InvoiceEscrowClient::new(&env, &escrow_id);
+
+    let admin = Address::generate(&env);
+    let seller = Address::generate(&env);
+    let investor = Address::generate(&env);
+    let invoice_id = BytesN::from_array(&env, &[201u8; 32]);
+
+    let payment_token_admin = Address::generate(&env);
+    let payment_token_id = env.register_stellar_asset_contract_v2(payment_token_admin.clone());
+    let payment_token_asset = AssetClient::new(&env, &payment_token_id.address());
+    payment_token_asset.mint(&investor, &100_000i128);
+
+    let fraction_token_id = env.register_contract(None, InvoiceToken);
+    let fraction_token = InvoiceTokenClient::new(&env, &fraction_token_id);
+    fraction_token.initialize(
+        &admin,
+        &SorobanString::from_str(&env, "Invoice Fraction"),
+        &SorobanString::from_str(&env, "IFRAC"),
+        &7u32,
+        &Symbol::new(&env, "inv201"),
+        &escrow_id, // the escrow contract itself is the authorized minter
+    );
+
+    escrow.initialize(&admin, &300);
+    escrow.create_invoice_legacy(
+        &invoice_id,
+        &seller,
+        &100_000i128,
+        &1_000u32,
+        &1_000i128,
+        &None,
+        &payment_token_id.address(),
+        &Some(fraction_token_id.clone()),
+    );
+
+    escrow.invest(&invoice_id, &investor, &40_000i128);
+
+    assert_eq!(fraction_token.balance(&investor), 40_000i128);
+
+    escrow.invest(&invoice_id, &investor, &10_000i128);
+    assert_eq!(fraction_token.balance(&investor), 50_000i128);
+}
diff --git a/contracts/invoice-escrow/src/test_buy_limit.rs b/contracts/invoice-escrow/src/test_buy_limit.rs
index dfacee8..4a7f72e 100644
--- a/contracts/invoice-escrow/src/test_buy_limit.rs
+++ b/contracts/invoice-escrow/src/test_buy_limit.rs
@@ -29,6 +29,10 @@ fn setup<'a>() -> Market<'a> {
             per_investor_cap: None,
             status: InvoiceStatus::Funded,
             token: Address::generate(&env),
+            min_funding_threshold: 1_000,
+            max_funding_threshold: 1_000,
+            threshold_reached: true,
+            fraction_token: None,
         };
         storage::set_invoice(&env, invoice_id.clone(), &invoice);
     });
diff --git a/contracts/invoice-escrow/src/types.rs b/contracts/invoice-escrow/src/types.rs
index 88b1d0e..cbd3736 100644
--- a/contracts/invoice-escrow/src/types.rs
+++ b/contracts/invoice-escrow/src/types.rs
@@ -319,6 +319,12 @@ pub struct FundingInvoice {
     /// Whether `ThresholdReached` has already been emitted for this invoice.
     /// Guarantees the event fires exactly once per invoice.
     pub threshold_reached: bool,
+    /// Optional fraction-token contract address (#517): when set, `invest`
+    /// mints the investor a matching amount of fraction tokens on this
+    /// contract so their ownership share has an on-chain representation.
+    /// `None` preserves the pre-#517 behaviour (payment-only, no fraction
+    /// tokens) for invoices that don't need one.
+    pub fraction_token: Option<soroban_sdk::Address>,
 }
 
 /// Funding progress view returned by `get_funding_status`.
diff --git a/contracts/invoice-escrow/tests/institutional_controls.rs b/contracts/invoice-escrow/tests/institutional_controls.rs
index 9ad068c..275283f 100644
--- a/contracts/invoice-escrow/tests/institutional_controls.rs
+++ b/contracts/invoice-escrow/tests/institutional_controls.rs
@@ -483,8 +483,9 @@ fn collateral_breach_blocks_creation_until_a_real_topup_restores_ratio() {
         Err(Ok(Error::CollateralTopUpRequired))
     );
     assert_eq!(
-        f.client
-            .try_create_invoice_legacy(&next, &f.issuer, &1000, &1000, &0, &None, &f.token),
+        f.client.try_create_invoice_legacy(
+            &next, &f.issuer, &1000, &1000, &0, &None, &f.token, &None,
+        ),
         Err(Ok(Error::CollateralTopUpRequired))
     );
     f.client.top_up_collateral(&f.id, &50);
diff --git a/contracts/invoice-escrow/tests/thresholds.rs b/contracts/invoice-escrow/tests/thresholds.rs
index 11b07d5..146de42 100644
--- a/contracts/invoice-escrow/tests/thresholds.rs
+++ b/contracts/invoice-escrow/tests/thresholds.rs
@@ -285,8 +285,16 @@ fn test_legacy_create_invoice_defaults_min_and_max_to_target() {
     let investor = Address::generate(&env);
     mint(&env, &f.token, &investor, 500_000);
 
-    f.client
-        .create_invoice_legacy(&id, &f.seller, &80_000i128, &1000u32, &0i128, &None, &f.token);
+    f.client.create_invoice_legacy(
+        &id,
+        &f.seller,
+        &80_000i128,
+        &1000u32,
+        &0i128,
+        &None,
+        &f.token,
+        &None,
+    );
 
     let status = f.client.get_funding_status(&id);
     assert_eq!(status.min_threshold, 80_000);