Denomination

Debt instruments are denominated in a currency, in which principal and interests are calculated.

The D-ASA MUST be denominated either in an on-chain or off-chain denomination asset \([CUR]\)¹.

All values (uint64) are integer minor units of the relevant on-chain or off-chain denomination asset.

The reference implementation supports only on-chain ASA denominations (e.g., “stablecoins”).

On-chain denomination

The denomination asset MUST be an Algorand Standard Asset (ASA), an Application asset (App), or the ALGO.

The denomination asset identifier MUST be the ASA ID, the App ID, or 0 for ALGO.

If asset is ALGO (0): amount is in microALGOs (\( 10^{-6} \) ALGO).

If asset is ASA or App: amount is in base units as per that asset’s decimals.

Tip

The value (uint64) 10000 of an ASA denomination with 2 decimals is interpreted as 100.00 units of the ASA.

Off-chain denomination

The denomination asset identifier MUST be the ISO 4217 currency numeric code.

The denomination asset MUST use the decimal digits specified by the ISO 4217.

If asset is ISO 4217 numeric code: amount is in minor units (\( 10^{-d} \) with \( d \) as per ISO 4217 digits).

Tip

The value (uint64) 10000 an EUR (ISO 4217, 2 decimals) denomination is interpreted as 100.00 Euro.

1. ACTUS only allows ISO 4217 currency identifiers, therefore an on-chain denomination is not supported by ACTUS. ↩