The yield and maturity pages of an asset operate two features of a composable token: a fixed treasury yield schedule and a maturity redemption. On them you fund the treasury that pays both, approve its allowance, claim yield, trigger maturity and redeem a matured position, one operation at a time. Corporate actions covers scheduled dividend and coupon payments to every holder. Dividend yield and interest yield have their own sections on the Features tab.
A yield schedule pays holders in fixed intervals for as long as it runs. Each period completes, then holders claim what accrued in it. Maturity redemption is a single event that cannot be reversed. Once a bond matures, on its scheduled date or earlier under an emergency trigger, holders redeem for the denomination asset, the single asset a payout-bearing feature pays a holder per unit, subject to their available balance, the token's restrictions, treasury funding and any transaction fee burn rate. A burn fee sends part of the redeemed units to the fee recipient, and the holder is paid only for the units that burn. From maturity on, the token refuses every mint and every ordinary transfer, so only a redemption or a custodian's forced transfer moves the bonds.
The “Fixed treasury yield” page carries “Claim yield”, greyed with its reason.
The “Treasury” row shows the treasury account with “Edit”, and the Schedule configuration panel shows the start date, end date, yield rate, payment interval and total periods. The dates read to the minute in UTC. When the start and the end fall in the same minute, both show their seconds, so a schedule shorter than a minute never shows the same date twice. The Bond coupon sheet's terms show the start and end dates the same way.
Who can change what
Once a feature is configured, no control on these pages changes its rate, interval, dates or maturity date. A Governance holder can still change the treasury address and can exclude any account from yield accrual from the next period on. Governance can also name, once, another feature on the token that may consume or close a holder's accrued yield, such as a conversion. A treasury change waits for a second person only while the “Administration” row under “Approvals” on General protects the Token administration group.
A control your role does not allow is hidden, except Edit on the maturity treasury row, which stays greyed with “Governance manages these settings.” A state that rules a control out, such as a halted token or a bond that has already matured, keeps it visible and greyed with the reason beside it.
The Custodian role gates a third operation that is not self-service: after maturity, a Custodian can redeem holders' bonds on their behalf, up to 100 holders per call, without the holder's request. The bonds burn and the payout goes to the holder.
Everything else, funding a treasury, approving its allowance, claiming yield, and redeeming a matured position, needs no admin role at all. Only the treasury's own wallet can approve an allowance for it, and only a holder with a positive available balance can redeem. The redeem sheet, in the Console and in the Investor portal, refuses an amount above that balance with “More than the 1,400.25 HLOG29 available.” for a balance of 1,400.25 HLOG29, and does not move on to review until the amount fits. In the Investor portal, the claim yield sheet also asks the platform whether it would accept the claim when it opens. A refusal, for example no completed period with yield left to claim, shows in the sheet with its reason and fix and the claim button stays off, so a holder learns it before the PIN. The check claims nothing and signs nothing, and the platform checks again when the holder signs.
Treasury health
In the maturity section and the “Maturity” panel, a treasury-health indicator gives the same signal at a glance. An approval here is the treasury's allowance for the feature to spend its denomination asset. The indicator shows one of three states:
- Treasury healthy, green: the approvals and the balance cover the projected next-period need.
- Balance low, yellow: the approvals are in place but the balance falls short.
- Approval below ceiling, red: at least one approval is below what it must cover.
The yield section shows a funding status instead: “Funded”, “At risk”, or “Underfunded”, measured against what holders can claim now plus what the next period commits. For a wallet treasury whose approval falls short, it shows “Approval needed” instead.
The treasury allowance, required and available amounts show two decimals, or more when two would read zero. When that rounds the exact amount, the figure reads with ≈. Every shortfall rounds up: the funding gap, the approval gap and the top-up amount never read smaller than the real gap, and one gap reads the same figure wherever it appears.
Steps
Open the yield or maturity page
Open “All assets”, select the asset, and find the yield or maturity section on its Features tab. Choose View yield details or “View maturity details” to open the feature page.
When the asset has no yield feature yet, the feature page shows that state directly, with a Set yield schedule button that attaches the fixed treasury yield feature with its first schedule.
Once a schedule exists, the yield page offers these controls:
- Claim yield at the top of the page, greyed with its reason until a claim is waiting for your wallet.
- Edit on the treasury row.
- Top up yield treasury in the Treasury panel.
- Approve allowance, a line that shows when the treasury's approval falls short of what the schedule needs, greyed with the treasury wallet's address for any other wallet.
The “All periods” table lists every period of the schedule. Its Progress column shows how much of each period's time has passed: 100% for a completed period, the elapsed share for the active one, and 0% for a scheduled one. How much of a period's yield holders have claimed shows under “Claimed / Total” when you expand its row.
The maturity page offers these controls:
- Mature bond, shown only to the Governance role. It stays greyed until the scheduled date arrives and disappears once the bond has matured.
- Trigger early maturity, shown only to the Emergency role. It stays greyed once the date has passed, since the contract then accepts only the regular path. It asks you to type the token symbol before it continues.
- Edit on the treasury row, which opens “Set maturity treasury”.
- Top up redemption treasury, “Approve allowance” and “Redeem at maturity”.
An account holding both roles sees both maturity controls, and the scheduled date decides which one is greyed with its reason beside it. A Redemptions table under the panels lists each holder's redeemed amount, payout and transaction.
Check the rate, dates and treasury
Check the rate, interval, start and end dates, treasury address, treasury balance, denomination asset, or maturity date shown for the selected feature. Compare them with the approved instruction. The yield rate is the rate paid each payment period, shown with its period, such as 0.03% per day. Unless the interval is a year, the annual yield rate beside it scales that rate to a 365-day year, so 0.03% per day reads as about 10.95% a year. The fixed treasury yield entry shows the arithmetic. A treasury change asks for the new treasury address, a top-up or redemption for an amount, and an allowance change for the new allowance. Top up is not offered to the treasury's own connected wallet, since funding a treasury from itself has no effect. On the yield page the allowance change is enabled only for the wallet the treasury is set to, and every other account sees it greyed with that wallet named. On the maturity control it only appears to that wallet. Before confirmation, each dialog, whether for a claim, a regular maturity, or an early maturity, asks you to review the displayed effect.
The “Set yield treasury” sheet asks for the new “Treasury” address on its “Details” step, and its “Review” step shows the effect before confirmation.
Confirm and wait for the success message
Submit the transaction and wait for the Console success message before you leave the dialog. If the Console reports a failure, look for the transaction in Activity and check the feature's state before retrying, because a failed response does not show whether the chain operation completed.
Maturity cannot be reversed on either path. Early maturity's confirmation screen says so: “Once triggered, the bond will be immediately matured and holders will be able to redeem their tokens. This cannot be undone.” Regular maturity shows no such warning.
Before the issuer confirms early maturity, the Console shows the outstanding units, the payout at face value, and the treasury's available redemption cover when that read has completed. If the treasury read is unavailable, the sheet marks that figure unavailable instead of presenting a value it has not read. The maturity panel labels the configured date as the scheduled maturity date and keeps the actual matured-at date separate after either path.
The two paths differ in one precondition. Regular maturity checks that the treasury holds the full redemption amount at that moment, and refuses to proceed if it falls short. Before you enter your PIN, the Mature bond sheet shows the required payout, the treasury's available balance and, when the treasury is short, the funding gap, all in the denomination asset. While the treasury is short, or its balance is not indexed yet, the sheet keeps “Confirm” greyed with the reason beside it, so you top up first instead of entering a PIN for a maturity the platform would refuse. If the platform still refuses, because the balance changed after the sheet read it, the sheet names the check that failed. The check reads the balance only, not the allowance, and nothing locks the funds afterwards, so the treasury wallet can move them or lower its allowance once the bond has matured. Early maturity does not check treasury funding, so an operator can open redemption during a wind-down without full funding. With an underfunded treasury, earlier redemptions can use the available funds. A later redemption reverts if the treasury cannot cover its payout. It does not burn the tokens for a partial payment caused by that shortfall. Confirm the treasury is adequately funded before triggering early maturity if you want to avoid that outcome. The contract accepts the call either way.
Claims and redemptions are final. Setting a treasury takes effect immediately. Repeat the same operation, Set yield treasury or “Set maturity treasury”, with the prior address, under the same Governance role and another wallet confirmation, to put it back. Maturity is the exception: once the bond matures, its treasury address freezes for good, so a change made before maturity is the last one available, though funding that frozen address directly still works. Approving an allowance follows the same rule as any token-spending approval: a new approval for a lower amount, including zero, revokes what came before, at the cost of one more wallet confirmation. Funding a treasury through top up is a plain transfer to that address, and neither feature locks the tokens there afterward. Whoever controls the treasury wallet decides if and how those tokens move again.
A treasury change also takes effect the instant it is mined. A claim or redemption submitted earlier but mined afterward reads whichever treasury is current at that later block, not the one the sender saw when they submitted it. When the newly set treasury has not approved the feature, or does not hold enough of the denomination asset, that pending transaction fails. The failure carries the same insufficient-allowance or insufficient-balance reasons covered under Troubleshooting below. It does not wait or fall back to the previous treasury.
Yield repeats every period, while maturity happens once and only then makes redemption possible.
Troubleshooting
A control is missing
Your account has no role for that operation, or the asset lacks the feature entirely. A yield control your role allows but the feature's state blocks is greyed with its reason, not missing. A maturity operation your account cannot use is missing from the maturity page, except the treasury “Edit”, which stays greyed with “Governance manages these settings.” No section on the Features tab means the feature is not attached. The Governance role can attach maturity redemption from the “Attach a feature” list on that tab. For yield specifically, an asset without a yield feature shows a Set yield schedule button on the yield page, offered to the Governance role, and that button attaches the feature.
Mature bond cannot be selected
Signal: Mature bond is absent or disabled before you expect maturity. Cause: the scheduled maturity date has not been reached yet, and the contract rejects the call until then. Fix: wait for the scheduled date, or use “Trigger early maturity” instead if the situation and your account's Emergency role justify acting before it.
Early maturity cannot be selected
Signal: Trigger early maturity is absent or disabled. Cause: either your account lacks the Emergency role, or the scheduled maturity date has already been reached, at which point the contract accepts only “Mature bond”. Fix: check which reason the Console names. Ask for the Emergency role if that is missing, or use “Mature bond” once the date is reached.
Claim yield is not offered
Signal: Claim yield is greyed with “No yield is waiting for your wallet to claim.” even though the schedule is active. Cause: one of three conditions. The schedule's first period has not completed yet, so nothing is claimable. A period becomes claimable in the first second after its end time. Your account's accrued yield was already fully consumed, typically by a conversion into another instrument. Or nothing has accrued since your last claim. Fix: check the current period against the schedule's start date and interval. If a claim was recently made, confirm whether a new period has completed since.
Claim yield settles fewer periods than you left unclaimed
Signal: after a claim, Claim yield still offers yield for older periods. Cause: one “Claim yield” call settles at most 104 periods. Fix: select “Claim yield” again until no yield is waiting for your wallet.
Redeem at maturity is not offered even though the bond has matured
Signal: the bond's status shows matured, but Redeem at maturity is missing for your account. Cause: redemption needs a positive available balance in the bond, not only permission. An account with the redeem permission but no holding of this bond does not see the control. Fix: confirm the connected account holds the bond by checking “Holders”.
Redeem at maturity is offered but fails
Signal: the control is visible but disabled, or submission fails, with the Console naming a specific reason. Cause: the reasons resolve in order, and the Console names only the first that applies: the bond has not matured, the treasury's solvency is still being verified, the treasury has not approved the feature to spend the denomination asset, the treasury holds none of the denomination asset, or the token is halted. Fix: read the named reason and address that one first. A further reason underneath only becomes visible once the first is resolved.
Approve allowance does not appear
Signal: Approve allowance is not offered, even though the treasury needs funding. Cause: the control needs a wallet that can grant a spending allowance, and both features draw that line the same way. An ordinary wallet treasury qualifies. A contract treasury qualifies only when that same contract is the account you have connected, so a smart-account treasury under your own control can approve where a third-party vault contract cannot. The control appears only while the allowance is below what the feature needs. On the yield page, any other account sees “Approve allowance” greyed with the treasury wallet named. On the maturity page, only the treasury account itself sees it. Fix: connect the treasury's own wallet or smart account. If a separate contract holds the treasury role, use its supported payout or approval mechanism. A missing Console control does not prove the contract can pay without setup.
Top up appears to do nothing, or is missing for my account
Signal: Top up redemption treasury or “Top up yield treasury” is absent for the account that is itself set as the treasury. Cause: this is expected. Funding a treasury from its own wallet has no effect on the balance it holds, so the control does not offer it to that wallet. Fix: use a different account with the top-up permission and available tokens to send to the treasury, not the treasury's own connected wallet.
The maturity section's treasury-health indicator reads yellow or red
Signal: the badge in the “Maturity” panel header, labelled Balance low or “Approval below ceiling”, is not green. Cause: the two colours name two different shortfalls, not one shared warning state. Yellow means the approval is sufficient but the live balance is below the projected next-period need. Red means at least one approval is below its required ceiling, regardless of balance. Fix: for yellow, top up the treasury. For red, approve the feature to spend enough from it. Yield carries no equivalent badge.
Set treasury is missing or disabled
Signal: Set yield treasury or “Set maturity treasury” does not appear, or appears disabled. Cause: changing a treasury address needs the Governance role on this specific asset. Without it, the control stays out of reach regardless of any other permission you hold. On a matured bond, the maturity treasury “Edit” stays greyed with “The bond has matured, so its treasury can no longer change”. Fix: ask an administrator for the Governance role, scoped to this asset. After maturity, fund the existing treasury instead.
Frequently asked questions
If I miss claiming a period, does the yield expire?
The schedule does not expire an unclaimed period. The schedule tracks each period's claimed and unclaimed yield separately, so an amount you did not claim when its period completed stays tracked afterward. What can make a specific claim disappear is covered under Troubleshooting: the schedule's first period has not completed, a conversion consumed your accrued amount, or nothing has accrued since your last claim.
Two further causes can leave you with less than what accrued. If other holders exhaust a period's shared payout cap, or you convert your own accrued yield into another instrument, before you claim, your claim cursor still advances past that period at zero payout. The period counts as settled, not owed. And a single Claim yield call settles at most 104 periods. A longer unclaimed backlog needs more than one call.
Do all holders receive their matured redemption at once?
No. Maturity makes redemption possible. Each holder redeems on their own initiative, or a Custodian redeems on their behalf, and a holder needs a positive available balance to see the control. The treasury may need more than one top-up as different holders come through, since only the balance available at the moment of each redemption has to cover it.
Does freezing a holder stop their yield, dividends, or redemption?
A freeze stops a holder's redemption on the DALP 3.2 token contract and on a legacy bond, a bond of the seven original asset families. A freeze of the whole address also stops dividend claims. No freeze stops yield. A freeze blocks the holder's own movement of the asset's tokens, and a redemption burns those tokens. A fully frozen address cannot redeem at all, and a partial freeze lets the holder redeem only the balance that is not frozen. The frozen amount stays frozen. An asset issued from an instrument template is the exception until System updates moves it to the DALP 3.2 token contract: its redemption at maturity ignores both kinds of freeze and pays a frozen holder in full. A yield claim burns no tokens. It pays the denomination asset from the treasury, so a frozen holder keeps accruing yield and can claim it. A dividend claim is refused for an address frozen as a whole, whether the holder claims it or a custodian pushes it, singly or in a batch, until the freeze is lifted. A partial freeze does not stop a dividend claim.
Does topping up the treasury also approve it to spend those tokens?
No, they are two separate steps. Topping up is a plain transfer of the denomination asset into the treasury address. It changes the balance the treasury holds, nothing else. Approving is a separate allowance grant that lets the yield or maturity feature spend from that balance when a holder claims or redeems. The treasury-health indicator watches both together, so a green status means the balance and the allowance are both sufficient.
Can the treasury be a smart contract instead of an ordinary wallet?
Yes, for both features. The Console tracks whether a treasury address is a contract and adjusts what it offers accordingly, the same distinction covered under Troubleshooting for a missing approve control.