Time Periods

D-ASA time periods can be used to define recurring (or "cyclic") events.

D-ASA time periods start on (are "anchored" to) time events.

The D-ASA MAY define time periods \([CL]\) as (uint64,uint64)[] array, where:

• The first element of the tuple defines the time period duration (uint64). It MUST be strictly greater than 0;

• The second element of the tuple defines the time period repetitions (uint64). It MUST be 0 if repetitions are unlimited;

The time periods MUST be anchored \([ANX]\) to a time event (see Time Events section).

The time periods MUST be defined as UNIX time, in seconds.

In case of non-continuous day-count conventions (ID<255, see Day-Count Conventions section), the time periods MUST be multiples of a day, in seconds (86400).

The time periods MAY be set using the asset_config method.

If the D-ASA does not implement time periods, it MUST be set to [] in the asset_config method.

📎 EXAMPLE

The following are valid time periods (UNIX times) indicating:

• a daily time event with unlimited repetitions
• a monthly (30 days) time event with 12 repetitions

(uint64,uint64)[] = [(86400, 0), (2592000, 12)]

📎 EXAMPLE

The following are invalid time periods (UNIX times):

(uint64,uint64)[] = [(0, 0), (0, 12)]

The time periods MUST be chronologically consistent with respect to the time events.

📎 EXAMPLE

Let's have a D-ASA with an issuance date and a maturity date, defined as time events, and 4 coupons whose periods are defined by time periods.

The sum of the 4 coupon time period durations must be smaller than the time period between the issuance date and the maturity date.

Unlimited Time Schedule

If the D-ASA has an undefined number of coupons, then the coupon due dates \([IP]\) MUST be defined with a time period (uint64,uint64).

The first coupon due date \([IPANX]\) occurs on issuance date plus the time period duration \([IPCL]\) and the interest payment \([IPPNT]\) can be executed¹.

📎 EXAMPLE

A D-ASA whose primary distribution lasts from December 1st, 2023 00:00:00 GMT+0 to December 15th, 2023 00:00:00 GMT+0, is issued on January 1st, 2024 00:00:00 GMT+0 and no maturity, with perpetual coupons maturing every 365 days, has the following time events array (UNIX times):

uint64[] = [1701388800, 1702598400, 1704067200]

and the following time period:

(uint64, uint64) = [31536000, 0]

The fist coupon due date \(([IPANX]\)) is 1704067200 + 31536000 (UNIX time).