Zero Coupon Bond

PropertyOption
DenominationOn-chain (ASA)
Principal repaymentAt maturity
Early repayment optionsNo
InterestFixed
CouponsNo
Time ScheduleFixed (Events)
Day-Count ConventionActual/Actual, Continuous
Primary DistributionDirect placement
Primary MarketPlaced at nominal value
Transfer AgentTrustless
Payment AgentTrustless
Secondary MarketYes
DefaultManual (Trustee)

Payment Agent

Payments are trustless (i.e., can be triggered by anyone), as long as payments' conditions are met (e.g., the payment is due).

Default

Called manually by the trustee.