Fixed treasury yield
How operators configure the fixed-treasury-yield token feature for periodic holder-claimed yield from a configured treasury wallet.
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 templates, the deposit template, money-market-fund, and several 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 means 5% per period. |
interval | Accrual interval (DAILY is the typical seed default). |
For convertible-note and money-market-fund templates, the wizard inherits the denomination asset from the redemption configuration when the two features compose.
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 settles from the treasury to the holder and advances the holder's claimed position. In the Console, a single Claim yield action 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 several transactions in that one action, and the confirmation reports how many transactions it took. For an exceptionally large backlog, the action settles as much as it safely can in one run and tells the holder that more periods remain, so claiming again finishes the rest.
- End accrual when the asset reaches
endDate. The feature stops accruing for blocks past that date.
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 a wallet 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, the Claim yield action 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 after an action stay claimable and are picked up by the next claim.
Troubleshooting
| What you see | What to check |
|---|---|
| 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 claims as many periods as it safely can in one action and reports that more periods remain; have the holder claim again to settle the rest. |
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.
AUM Fee operator guide
How operators configure, monitor, collect, and freeze AUM Fee on DALP tokens without duplicating the architecture reference.