Maturity-redemption feature for face-value return on DALP

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.

The maturity-redemption token feature handles the end-of-life redemption flow for fixed-income instruments. After the maturity date, an authorised operator triggers the redemption state, the feature transfers face value from the configured treasury to each holder, and the position burns. Holders cannot transfer after the maturity-state transition.

Maturity also closes issuance. The supply outstanding at maturity becomes the fixed redemption basis, and the platform stops accepting new mints for the token from that point on. Complete all issuance before you mature the instrument.

For the canonical explanation of the architecture and lifecycle model, see Maturity redemption.

When it attaches

Bond, CD, and structured-note templates attach maturity-redemption. See the fixed-income, cash, and structured sections of the system templates catalog.

What you configure

In the Asset Designer details step, fill the maturity-redemption parameter block:

Parameter	Description
`maturityDate`	Date the instrument matures. Immutable after deployment for most templates.
`denominationAsset`	ERC-20 token face value pays in. Typically the same token the instrument was priced in.
`treasury`	Wallet that holds the denomination asset and funds redemption payments.
`faceValue`	Redemption amount per token, in the denomination asset's units.

The denomination-asset prerequisite is checked during template selection: if no compatible ERC-20 exists in the tenant, the template card is disabled until the operator creates or registers one.

What you operate

After deployment:

Fund the redemption treasury before maturity. The treasury must hold at least faceValue × totalSupply of the denomination asset for redemption to settle every holder.
Finish issuance before maturity. Maturity fixes the redemption basis to the supply outstanding at that moment. Once the instrument is matured, new mints are rejected, so issue the full intended supply first.
Trigger maturity on or after the maturity date through the asset detail workspace's maturity tab. The trigger moves the asset into redemption state; new mints and holder transfers are blocked afterwards.
Holders claim through the platform's redemption flow. The feature transfers face value from the treasury to the holder and burns the position.
Reconcile leftovers: any treasury balance after every holder has redeemed stays in the treasury for the operator to reclaim.

Redemption solvency check

When a holder opens the redeem-at-maturity sheet, the Console previews the payout and checks treasury solvency before letting them sign. The payout is calculated as the redeem amount multiplied by face value, and that figure is compared against the treasury's available denomination-asset balance.

While the treasury balance is still resolving, the sheet shows Verifying treasury balance… and keeps the redeem button disabled.
If the treasury cannot cover the payout, the sheet shows a Treasury funding gap warning with the requested payout next to the treasury available balance, and keeps the redeem button disabled until the treasury is topped up.
When the treasury balance is known and covers the payout, the holder can continue and sign.

The same check runs whether the holder reaches redemption from the asset's maturity tab or from the global Actions queue, so an underfunded redemption is stopped before signing in both paths. Keep the redemption treasury funded so holders are not blocked at this step.

Operating considerations

The redemption-state transition is one-way. The platform does not support un-matureing an asset.
Maturity closes ordinary issuance. After maturity the redemption budget is fixed to the supply recorded at maturity, so a token matured with zero outstanding supply has a zero redemption budget. Mint the full intended supply before you mature.
Redemptions and authorised custodian transfers still work after maturity. Maturity blocks new issuance and ordinary holder transfers. Holders can still burn their position to redeem, and custodians can still apply forced corrections.
Fund the treasury before holders redeem. The redeem sheet checks treasury solvency and blocks signing when the treasury cannot cover the payout. It does not move funds for you, so a short treasury keeps holders at the funding-gap warning until you top it up.
Pre-maturity transfers run through the asset's normal compliance modules. The maturity feature does not change transfer eligibility before the maturity date.
Some templates fix the redemption treasury to the deploying wallet rather than asking for it during creation. Read the template detail in the catalog to confirm.

Troubleshooting

What you see	What to check
Mint rejected on a matured token	Maturity closes issuance. The redemption basis is fixed to the supply at maturity, so the platform rejects new mints and hides the mint action once the token is matured. Issue any remaining supply before maturity, or create a new instrument for fresh supply.
Holder redemption fails after maturity	Confirm the redemption treasury holds enough of the denomination asset to cover face value for the requesting holder.
Redeem button stays disabled with a "Treasury funding gap" warning	The requested payout exceeds the treasury's available balance. Top up the redemption treasury so it covers the payout (redeem amount × face value), then reopen the sheet.
Redeem sheet shows "Verifying treasury balance…"	Treasury solvency data is still resolving. Wait for the balance to load; if it does not resolve, confirm the redemption treasury is configured and reachable.
Maturity trigger rejected	Confirm the maturity date has passed and the trigger is submitted by an account with the maturity role.
Transfers still pass after maturity	Confirm the maturity trigger has confirmed on chain; the state transition is asynchronous.

Maturity redemption