Set token price

How a token's price is declared#

The first price set for a token creates its price feed in the same request. The platform creates an issuer-signed feed, one that accepts a price only when a claim key of an identity that the trusted issuers registry trusts for the token's price topic signed it. The feed has 8 decimal places and the description SYMBOL / CURRENCY, for example NWC / USD. The part after the slash is the feed's currency. Every later price goes to that feed, and the feed keeps the currency it was created with.

The organisation's operations signer, the custody account the platform uses to sign on the organisation's behalf, signs every declared price under the organisation's on-chain identity. The platform checks that the person who sets the price holds the “Permission manager” role on the token, and asks for wallet verification. The feed itself checks only the signature, so a holder of a claim key on a trusted identity can publish to it without going through the platform.

Setting a price is a transaction that the platform queues. Valuations read the new price once the indexer, the platform service that records on-chain events, has recorded the feed update. Each set-price request is recorded on the organisation's Audit trail with the price and currency before the change and the price and currency requested.

A token created with a declared price gets its feed and first price at creation. For a precious-metal token the declared price is the weight per token times the spot price per unit. A token whose asset-type template requires the maturity redemption feature gets no price feed at creation. The template decides: a create request that sends maturity redemption settings for a template without the feature still gets its declared price published. If the organisation has no operations signer bound when the token is created, the token is created without a price.

How the platform reads the price#

In the currency you ask for#

The token price read answers in the currency you name, or in USD when you name none. In the feed's own currency it returns the price and the time of the observation. In another currency it converts the price through the organisation's exchange-rate feeds, using only rates that are inside their own staleness windows and at most three conversions. The answer lists each conversion: the currency pair, the rate, the exchange-rate feed's address, the rate's update time, and whether the rate was inverted.

When no path of fresh rates reaches the currency you asked for, the read returns the price in the feed's currency with convertible set to false, the reason no_fx_path, and availableCurrencies, the currencies the price can reach. Prices are exact decimals with 18 decimal places, and each conversion rounds down at the last place.

The read uses only the token's own price feed. It does not fall back to a last known price, to a value derived for a bond from its denomination asset, or to a base price stored as a claim on the token's on-chain identity.

A stale price is refused#

A price is stale when its observation is older than the feed's staleness window. The window that applies is the feed's own window, or the global default when the feed has none. Both are set on Data feeds. A window can also be set to never expire.

The token price read refuses a stale price with DALP-0343, HTTP 503, and data.reason set to stale-feed. The same code answers every case where the token has no usable price, and data.reason names which one:

On chain, the price resolver applies the same windows and reverts with DALP-1111, “Stale feed”. The error names the token, the price topic, the observation's update time and the window it was measured against. A value-based compliance rule that reads a stale feed price refuses the action. On a token with a capital-raise limit, a mint is refused with a compliance failure whose reason is a stale price, until a fresh price is published. These checks do not use the last known feed price.

The on-chain resolver has one path the API read does not. When a token has no price feed, the resolver can fall back to a base price stored as a claim on the token's on-chain identity. It accepts only a claim from an issuer that the trusted issuers registry trusts for the base price topic. A new resolver starts with this fallback on, and a feeds manager can turn it off. A claim carries no time, so no staleness window applies to it.

Valuations and history#

The indexer records every change to a token's indexed price, with the price in its own currency and in the organisation's base currency. A change to a relevant exchange rate adds a new base-currency value. The price in effect at a moment is the last one recorded at or before that moment. Portfolio values and profit and loss at a past date, and the 24-hour price change of a holding, use this history.

Holdings value a bond, or a token with the maturity redemption feature, from its face value times the indexed price of the asset it redeems into. That derived value needs no price feed on the bond and follows its denomination asset's price and the relevant exchange rates. When you attach the maturity redemption feature to a token that already has its own price feed, the platform removes that feed after queueing the attach, so a feed that no longer prices the token does not stay active. If the removal fails, the attach still goes ahead and the platform logs a warning. The token price read still needs the bond's own price feed.

An external token that no DALP system issued records no price history, because each system that registers it prices it separately.

Troubleshooting#

API routes#

The Platform API offers three routes for a token's price:

• POST /api/v2/tokens/{assetId}/price sets the price, with price as a decimal string, currencyCode and walletVerification. The platform answers 202 with the queued transaction by default. Send Prefer: wait=<seconds> to wait for settlement. An empty transaction hash means the feed already held that price. A retry with the same idempotency key does not create a second feed or publish twice. A price with more decimal places than the token's price feed stores is refused with DALP-12245, HTTP 400, before anything is queued. The platform judges it against the decimals of the feed already registered for the token, or the 8 decimal places of the feed a first price creates, and never rounds it.
• GET /api/v2/tokens/{assetId}/price?currency=EUR reads the price in the named currency, with each conversion step.
• GET /api/v2/tokens/{assetId}/price-history?preset=trailing1Month reads the price over a window. preset is one of allTime, ytd, trailing12Months, trailing6Months, trailing3Months, trailing1Month, trailing7Days and trailing24Hours. Each point carries the price in the base currency in force at that time, and null where the price was cleared. The series is empty when the token had no price in the window, and the time before its first price is left out rather than reported as zero. The route answers token not found for a token issued to another organisation, as the token read does.

Set a price#

The request body carries the price, the currency and the wallet verification. The PIN in this example is illustrative:

{
  "price": "100.50",
  "currencyCode": "EUR",
  "walletVerification": { "verificationType": "PINCODE", "secretVerificationCode": "482913" }
}

Without a Prefer header the platform answers 202 with a handle. Poll statusUrl, also sent as Location, and do not resend the request:

{
  "transactionId": "0198f1a2-3c4d-7e8f-9a0b-1c2d3e4f5a6b",
  "status": "QUEUED",
  "statusUrl": "/api/v2/transaction-requests/0198f1a2-3c4d-7e8f-9a0b-1c2d3e4f5a6b"
}

With Prefer: wait=30, a write that settles in time answers 200 with the feed, the transaction hash, the price and the currency:

{
  "data": {
    "feedAddress": "0x9fE46736679d2D9a65F0992F2272dE9f3c7fa6e0",
    "txHash": "0x2a8f0d4c1b6e39a7c05d8f21b4e7a63c9d0f5b18e24a7c36d91b0f8e5a3c7d24",
    "price": "100.50",
    "currencyCode": "EUR"
  },
  "meta": {
    "txHashes": ["0x2a8f0d4c1b6e39a7c05d8f21b4e7a63c9d0f5b18e24a7c36d91b0f8e5a3c7d24"]
  },
  "links": { "self": "/api/v2/tokens/0x71C7656EC7ab88b098defB751B7401B5f6d8976F/price" }
}

Read a converted price#

price is a whole number scaled by decimals. In this answer to GET …/price?currency=USD, the feed holds 100 AED, the AED to USD rate is 0.2723, and 27230000000000000000 with 18 decimals is 27.23 USD:

{
  "data": {
    "tokenAddress": "0x71C7656EC7ab88b098defB751B7401B5f6d8976F",
    "price": "27230000000000000000",
    "currency": "USD",
    "decimals": 18,
    "source": "feed",
    "sourceCurrency": "AED",
    "convertible": true,
    "updatedAt": "2026-08-14T09:30:00.000Z",
    "conversionPath": [
      {
        "from": "AED",
        "to": "USD",
        "rate": "272300000000000000",
        "feedAddress": "0x9fE46736679d2D9a65F0992F2272dE9f3c7fa6e0",
        "updatedAt": "2026-08-14T09:30:00.000Z",
        "inverse": false
      }
    ]
  },
  "links": { "self": "/api/v2/tokens/0x71C7656EC7ab88b098defB751B7401B5f6d8976F/price" }
}

When no chain of fresh rates reaches the currency, the answer keeps the feed's currency and lists the currencies it can reach. This answer to GET …/price?currency=JPY is illustrative:

{
  "data": {
    "tokenAddress": "0x71C7656EC7ab88b098defB751B7401B5f6d8976F",
    "price": "100000000000000000000",
    "currency": "AED",
    "decimals": 18,
    "source": "feed",
    "sourceCurrency": "AED",
    "convertible": false,
    "targetCurrency": "JPY",
    "reason": "no_fx_path",
    "message": "No conversion path from AED to JPY exists in the configured price feeds directory.",
    "availableCurrencies": ["EUR", "USD"],
    "updatedAt": "2026-08-14T09:30:00.000Z",
    "conversionPath": []
  },
  "links": { "self": "/api/v2/tokens/0x71C7656EC7ab88b098defB751B7401B5f6d8976F/price?currency=JPY" }
}