Time Schedule

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

Debt instruments may have a limited or unlimited time schedule (e.g., a fixed coupon bond or a perpetual bond).

Time Measurement

The time on the Algorand Virtual Machine is defined by the block UNIX timestamp1.

The Algorand protocol has dynamic block latency with instant finality. At the time of writing (Jan 2025), block finality is about 2.8 seconds2.

The AVM time may present a drift with respect to external standard time references.

Events

The D-ASA events \([EVT]\) are defined by:

  • time events \([TEV]\) (or "anchors");
  • time periods (or "cycles").
1

ACTUS is based on ISO 8601 timestamps. The UNIX to ISO 8601 conversions are left to clients (see Calendar section).

2

ACTUS timestamps have millisecond precision, which is not compatible with blockchains' latency.