Time Schedule

Debt instruments may have fixed or variable time events (e.g. variable coupon due date, etc.).

Debt instruments may have a defined or undefined number of time events (e.g. a fixed coupon bond or a perpetual bond).

Time on the AVM can be expressed as the block's height (round) or block’s timestamp (UNIX time). The block’s time is dynamic, so D-ASA based on the block’s height could present a drift with external time references.

Primary Distribution

Debt instruments can be distributed on the primary market during the primary distribution.

The opening and closure dates define the primary distribution duration.

The D-ASA MUST have a primary opening and closure date.

Issuance

Debt instruments start accruing interest on the issuance date.

The D-ASA MUST have an issuance date.

Maturity

Debt instruments may have a maturity date, on which the principal is repaid and the contract obligations expire.

Debt instruments may have a fixed or variable maturity date.

The D-ASA MAY have a maturity date.