Primary Market

Debt instruments can be distributed on the primary market in different ways, such as book building, auctions, etc.

The D-ASA units MUST be distributed to D-ASA accounts, at most up to total units, using the primary_distribution method.

The primary distribution of D-ASA units SHALL be completed between the primary distribution opening and closing dates, according to the primary market.

The primary_distribution method MUST be called by an authorized primary distribution entity.

📎 EXAMPLE

The primary market is performed as an auction on a dedicated Algorand Application. The implementation requires the primary_distribution method to be called exclusively by the primary market Application, which defines the auction’s outcome.

📎 EXAMPLE

The primary market is performed as a book building by an authorized Book-builder Address. The implementation requires the primary_distribution method to be called exclusively by the authorized Book-builder.