Pay bond coupons on a tokenized bond with the Platform API

Pay periodic bond coupons through the fixed-treasury-yield feature, from funding the treasury to holder claims and maturity.

A bond coupon pays holders a fixed rate on their position at a fixed interval. You run the whole coupon lifecycle on the fixed-treasury-yield feature: it defines the schedule, accrues entitlement per period from on-chain balance history, and pays each holder from your treasury when they claim. Principal repayment at maturity runs on the separate maturity-redemption feature.

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Prerequisites

API key for a wallet with the governance role on the bond (see Getting started).
The bond carries the fixed-treasury-yield feature. Most bond templates include it at creation; attach it to a configurable bond that lacks it through POST /api/v2/tokens/{tokenAddress}/features with "name": "fixed-treasury-yield".
A treasury wallet funded in the bond's denomination asset before each period completes.

Paying coupons

Configure the schedule at issuance

The coupon terms are the feature's configuration: rate in basis points per period, interval (MONTHLY, QUARTERLY, SEMI_ANNUAL, YEARLY, and shorter steps), startDate, endDate, the denominationAsset the coupon pays in, and the treasury wallet it pays from. A 500 basis point rate on a quarterly interval pays 5 percent of the per-unit basis each quarter. Bond templates collect these fields during asset creation; see the token lifecycle reference for the create call.

Fund the treasury before each period completes

Coupons pull from the treasury wallet at claim time, so your treasury needs balance and the schedule needs an allowance.

curl -X POST "https://your-platform.example.com/api/v2/tokens/0x2f1De1B3d69cdCcbE743563b1EC1cA43663dbdb9/features/fixed-treasury-yield/top-ups" \
  -H "X-Api-Key: sm_dalp_test_xxxxxxxxxxxxxxxx" \
  -H "Idempotency-Key: coupon-fund-nwb-2026-q3" \
  -H "Content-Type: application/json" \
  -d '{ "amount": "50000000000" }'

Then the treasury wallet signs POST .../fixed-treasury-yield/treasury-allowance to authorize the schedule to pay claims. Approve at least the expected coupon pool for the period; an insufficient allowance fails holder claims even when the balance is there.

Holders claim after the period completes

Once a period ends, each holder claims all completed, unclaimed periods in one call.

curl -X POST "https://your-platform.example.com/api/v2/tokens/0x2f1De1B3d69cdCcbE743563b1EC1cA43663dbdb9/features/fixed-treasury-yield/claims" \
  -H "X-Api-Key: sm_dalp_test_xxxxxxxxxxxxxxxx" \
  -H "Content-Type: application/json" \
  -d '{}'

Entitlement per period comes from the holder's on-chain balance history in that period, so secondary-market buyers accrue from the period they bought into. A claim that spans many completed periods settles a bounded number per call and reports whether it is complete, so repeat the call until nothing remains. Pending claims appear to each holder in the actions feed.

Monitor coverage between periods

GET .../stats/yield-coverage reports what share of accrued, unclaimed coupons your treasury balance and allowance cover. GET .../treasury/health rolls the same checks into a single status. Fund a shortfall before the next period completes, not after your holders start claiming.

Redeem principal at maturity

At the maturity date, close the bond with POST .../maturity-redemption/maturations, then holders call POST .../maturity-redemption/redemptions to swap tokens for principal at face value, paid from its own treasury. The maturity redemption reference documents funding and allowance for the principal leg, which mirror the coupon leg.

Operational notes

The claim model is pull-based. An unclaimed coupon stays in the treasury and stays claimable; it does not expire at the next period.
Coupon amounts are integer strings in the denomination asset's base units; see asset decimals.
Bonds issued before the feature-based model use a standalone yield schedule with the same lifecycle under different paths; see the fixed yield schedule reference.

Cash dividend runs the same feature on equities.
Fixed treasury yield API reference documents every endpoint, parameter, and error of the feature.
Fixed treasury yield how-to covers the same flow through the Console.

Bond coupon