Create and operate a bond
Create a bond in the DALP console, then prepare the yield, treasury, maturity, and redemption steps that keep the bond serviceable after issuance.
A DALP bond is a fixed-income asset with maturity, redemption, and treasury-based yield controls. You create the bond through the Asset Designer. After issuance, you operate separate lifecycle controls for minting, yield claims, treasury funding, maturity, and holder redemption.
Prerequisites
Before you start, confirm these items are ready:
- You have the Asset manager role on the system access manager.
- Your account is onboarded and your wallet is ready for PIN or OTP verification.
- A published bond instrument template is available for the fixed-income asset class.
- The denomination asset for coupon or principal payments already exists and has the decimal precision you expect to use.
- Your operating team has approved the bond economics, investor eligibility policy, and off-chain offering documents.
Workflow overview
Create the bond
Open the asset designer
Open Asset designer from the console sidebar. Choose the fixed-income asset class so the wizard shows the available bond templates.
Choose the bond template
Select the published bond instrument template that matches the instrument you want to deploy. The wizard shows the required token features and any template-specific fields attached to that template.
Enter the bond terms
Fill the bond fields requested by the selected template. The current system bond template makes these maturity, yield, and instrument fields visible in the Asset Designer:
| Field | Meaning |
|---|---|
| Face value | Repayment value per bond unit at redemption. |
| Maturity date | Future date used by the maturity feature. |
| Denomination asset | ERC-20 asset used for repayment and, when configured, yield payments. |
| Yield treasury | Source wallet or contract for holder-claimed yield payments. |
| Yield terms | Rate, interval, and start date for holder-claimed yield. The yield schedule ends at the bond maturity date. |
| Identifier fields | Optional instrument metadata such as ISIN, CUSIP, FIGI, issuer, LEI, jurisdiction, rating, seniority, callability, sector, and denomination currency. |
Enter console amounts in the displayed denomination units. The wizard converts face value and yield basis amounts to base units for deployment. The denomination asset should match the asset your treasury team plans to fund for coupon or principal payments.
Configure maturity and yield features
Bond templates commonly pair Maturity Redemption with Fixed Treasury Yield and Historical Balances. Maturity Redemption captures the maturity date, denomination asset, and face value. For the current system bond template, the redemption treasury defaults to the deploying wallet when the wizard does not expose a separate redemption treasury field. Fixed Treasury Yield uses its own treasury, rate, interval, and start date for holder-claimed yield; the bond maturity date supplies the yield end date.
If the template fixes some feature settings, the wizard may hide those inputs while still submitting them with the asset configuration.
Review and deploy
Review the summary before deployment. Check the asset name and symbol, bond economics, compliance modules, required features, treasury addresses, and initial permissions. Deploy the bond only when the summary matches the approved operating terms.
Prepare the bond after deployment
New assets can be paused for safety after creation. Before you distribute supply, check the asset detail workspace and confirm the bond is in the expected state.
| Step | What to check |
|---|---|
| Activate the bond | Unpause the asset when the team is ready to use mint, transfer, and servicing actions. |
| Mint or distribute supply | Mint to the intended holder or settlement flow, then reconcile the on-chain supply with the subscription or allocation record. |
| Fund coupon or interest claims | Fund the Fixed Treasury Yield treasury with the denomination asset. If the treasury is a wallet, approve the yield feature to spend the required amount. |
| Fund principal repayment | Confirm the Maturity Redemption treasury shown on the bond status page, then fund that address with enough denomination asset for the expected face-value redemption. |
| Monitor coverage | Use yield coverage statistics and bond status before treating the bond as ready for claims or redemption. |
Operate yield payments
Yield claims are pull based. Holders claim completed-period yield from the configured treasury after the yield period has completed. DALP does not push coupon payments automatically to every holder.
Before telling holders to claim yield, confirm that:
- Fixed Treasury Yield is attached to the bond.
- Historical Balances is available for snapshot-based entitlement calculation.
- The yield treasury holds enough denomination asset.
- Wallet treasuries have enough allowance for the yield feature.
- At least one configured interval has completed.
If yield looks funded but claims fail, check allowance as well as balance. A wallet treasury needs both.
Operate maturity and redemption
Maturity does not happen automatically when the scheduled date arrives. An authorized maturity operation moves the bond into the post-maturity state. After maturity, ordinary transfers are blocked and holders redeem through the maturity redemption route.
Before enabling redemption, confirm that:
- Maturity Redemption is attached and indexed for the token.
- The maturity redemption treasury is the intended repayment source.
- The treasury balance covers the expected redemption amount.
- Wallet treasury allowance covers the payout amount when the treasury is not a contract.
- Bond status values have caught up after recent top-ups, approvals, treasury changes, or redemptions.
Redemption burns the holder's bond tokens and pays the denomination asset at the configured face value. Later redemptions can fail if earlier redemptions deplete the treasury balance or wallet allowance.
Common blockers
| Symptom | Likely cause | What to do |
|---|---|---|
| The bond template is not selectable | No published fixed-income bond template is available for the system, or the backing token factory is not usable. | Ask a system operator to publish or repair the instrument template before creating the asset. |
| The wizard rejects the maturity date | The date is not in the future. | Use a future maturity date that matches the approved terms. |
| Holders cannot claim yield | No interval has completed, the feature is not attached, the holder has no entitlement, or treasury balance or allowance is short. | Check yield coverage statistics and treasury allowance before retrying. |
| Bond status shows unknown or zero coverage after setup | The indexer has not caught up with the latest treasury state. | Treat unknown solvency as a verifying state and retry the status read. |
| Redemption fails after maturity | Treasury balance or wallet allowance is below the payout required for the holder's redemption amount. | Top up the maturity treasury and approve allowance from the treasury wallet when needed. |
What stays outside DALP
DALP controls the EVM token, configured compliance checks, treasury-based yield and redemption features, and the on-chain workflow around those controls. Your institution still owns the legal offering documents, investor communications, custody setup, off-chain payment and subscription records, tax treatment, and regulator-facing disclosures.
See also
- Create an asset in the console for the generic Asset Designer flow.
- Bond lifecycle prerequisites for detailed funding, allowance, maturity, and redemption checks.
- Fixed Treasury Yield for the yield feature model and coverage signals.
- Maturity Redemption for maturity state, redemption, treasury allowance, and transfer blocking behavior.
- Create and mint bonds with the API for the developer workflow.