Fixed treasury yield
Steps to set the yield rate, fund the treasury, monitor coverage, and settle holder claims using the fixed-treasury-yield token feature.
The fixed-treasury-yield token feature accrues a periodic yield per holder, claimable against a configured treasury wallet. Use it for bond coupons, deposit interest, money-market-fund distributions, or any instrument that pays a fixed-rate periodic return drawn from a funded treasury.
For the architecture reference, see Fixed treasury yield.
When it attaches
Most bond, deposit, money-market-fund, and other structured templates include fixed-treasury-yield. See the system templates catalog.
What you configure
In the Asset Designer details step, the wizard surfaces:
| Parameter | Description |
|---|---|
denominationAsset | ERC-20 token that yield pays in. |
basisPerUnit | The unit-of-account the rate applies to. For most instruments, one token. |
treasury | Wallet the yield draws from. The operator funds this wallet on the published schedule. |
startDate | When accrual begins. |
endDate | When accrual stops. Defaults to the maturity date for bond templates. |
rate | Per-period rate in basis points. 500 is 5% per period. |
interval | Accrual interval, such as daily or monthly. |
For convertible-note and money-market-fund templates, the wizard inherits the denomination asset from the redemption configuration when the two features compose.
The yield rate, accrual interval, and start date are the asset's economic terms, so the platform never fills them in for you. Set all three before you deploy. If a template carries the feature but leaves any of them blank, the wizard stops the create at the summary step with a message that the fixed-yield terms are incomplete; complete the rate, interval, and start date, then deploy again.
What you operate
After deployment:
- Fund the treasury on the published schedule. The platform tracks the running yield-coverage shortfall and surfaces a coverage indicator in the asset detail workspace's yield tab.
- Monitor coverage through the yield-coverage statistics. A persistent shortfall blocks holder claims until the treasury is topped up.
- Holders claim their accrued yield through the platform's claim flow. Each claim transfers the accrued amount for the periods it covers from the treasury to the holder and advances the holder's claimed position. In the Console, Claim yield runs the holder all the way to caught up. A large unclaimed range, such as a daily-coupon instrument left unclaimed for years, settles across multiple transactions in one run, and the confirmation reports the transaction count. For an exceptionally large backlog, the run settles as much as it safely can and tells the holder that more periods remain, so claiming again finishes the rest.
- The feature stops accruing when the asset reaches
endDate. Blocks past that date produce no new accrual.
Operating considerations
- Accrual is per holder per block-aware tick. A holder who transfers their position to another wallet stops accruing on the source wallet and starts accruing on the destination wallet starting at the transfer block.
- The treasury can be a wallet under operator control or a smart contract that allowances the yield feature to spend. Most operating models use the wallet form for simplicity.
- The feature does not enforce that the treasury holds enough denomination asset to cover all accrued claims. Underfunding the treasury is an operating-discipline issue the platform reports through the coverage indicator.
- Rate changes are restricted-mutable. Plan rate updates around accrual-period boundaries to avoid mid-period rate ambiguity for holders.
- Each on-chain claim settles a bounded number of accrual periods at a time. This keeps every transaction affordable and reliable even for long-dated, fine-grained schedules. In the Console, Claim yield chains these transactions automatically until the holder is caught up, so operators and holders do not manage the rounds by hand. The holder loses no yield: any periods still unsettled stay claimable and are picked up by the next claim.
Troubleshooting
| What you see | What to check |
|---|---|
Create stops with "fixed-yield terms are incomplete" (fixed-yield-terms-missing) | The template applies the feature but the yield rate, accrual interval, or start date is blank. Any yield terms you already provided are preserved; open the details step, fill in only the missing fields, then deploy again. The platform does not deploy partial yield terms. |
| Holder cannot claim yield | Confirm the holder accrual is non-zero and the treasury holds at least the claim amount in the denomination asset. |
| Coverage indicator shows red | Top up the treasury with the denomination asset before the next claim window. |
Yield accrues past endDate | Confirm the endDate is set correctly. The feature stops new accrual after endDate but does not erase prior accrual. |
| Rate change does not take effect | Restricted-mutable updates run through the governance-update path and are asynchronous; wait for the on-chain transaction to confirm. |
| A claim paid less than the holder's full accrued amount | Expected for an exceptionally large unclaimed range. The Console settles as many periods as it safely can in one run and reports that more periods remain; have the holder claim again to settle the rest. |
| Claim yield is missing from a token in the holdings list | The holdings list reads claim eligibility separately from balances. If that read is briefly unavailable, the list still shows holdings, balances, and the other row controls, but hides Claim yield until eligibility loads again. Reload the holdings list or reopen the row menu after a moment; the option returns once the eligibility read succeeds. If it stays missing, confirm the holder accrual is non-zero and the treasury is funded, as in the rows above. |
Read next
- Fixed treasury yield architecture
- Maturity redemption, often paired for fixed-income instruments.
- Yield coverage statistics API
Maturity redemption
How operators configure the maturity-redemption token feature, complete issuance before maturity, and trigger holder redemption when a fixed-income asset reaches its maturity date.
Configure and operate AUM Fee
How operators configure, monitor, collect, and freeze AUM Fee on DALP tokens without duplicating the architecture reference.