Nine product shapes the catalog could not express before
The catalog of instrument shapes grew from twenty-four to thirty-three, adding two sukuk structures, a digital asset class, a spot commodity, and more.
DALP 3.2 adds nine instrument templates. These include sukuk structures designed for Shari'ah issuance under the standards of the Accounting and Auditing Organization for Islamic Financial Institutions.
Adding a product the platform has never carried is a configuration task, not a contract build
An instrument templateAn Instrument Template lets an issuer configure a new instrument from an approved shape, instead of re-deciding what it records, does, and permits each time.Read the concept defines one product shape: the facts the instrument records, the behaviours it carries on the ledger, and the compliance rules it follows. DALP 3.0 shipped twenty-four of them. This line takes the catalog to thirty-three.
- Catalog
- Thirty-three shapes ship with the platform
- Business classes
- Seven, one of them new in this line
- Islamic finance
- Two sukuk structures, not one
- Frameworks
- Shari'ah issuance now has its own
Reuse supported product configurations
Each template defines a supported instrument and its contract behavior, so an issuer can configure that instrument without commissioning a new contract.
The new templates represent product configurations missing from the earlier catalog. Review their features and defaults before copying one for an issuance.
Islamic finance needed two certificates, not one
A sukuk is an Islamic-finance certificate. Holders own an undivided share of an underlying asset or transaction and receive the return it produces, rather than lending money at interest.
The platform now carries two of them, and it carries two on purpose, because the two structures differ on exactly the axis a template cannot straddle.
Sukuk Ijara is lease-backed. Holders own a share of a leased asset, an aircraft, a building, a vessel, and receive the rent it produces. Rent varies with the lease, so the payout is a distribution the issuer declares for each period. The template uses declared distributions to represent rental income. Shari'ah compliance still requires review of the transaction and its terms.
Sukuk Murabaha is a cost-plus sale. The issuing vehicle buys a commodity and sells it on deferred terms at a markup agreed when the contract is written. That profit is fixed at contract, so it accrues on a schedule.
One declares, one accrues. A single template carrying a structure enumeration would have had to pretend those are the same instrument with a different label.
Both record the facts a Shari'ah review produces: the supervisory board, the fatwa reference, its date, and a link to the document itself. Both point at the same new compliance framework.
A framework that is not a jurisdiction
The Shari'ah and AAOIFI framework is the first compliance template on the platform that deliberately names no countries.
The framework configures issuer governance without a country allowlist. Determine applicable legal and Shari'ah requirements for each issuance separately.
What it does encode is the eligibility rule the structure needs: investors must be verified, and a transfer needs approval from the issuer or the Shari'ah board. That approval authority is left empty in the shipped framework and set when a deal is configured, so nothing approves by default.
Digital assets became their own business class
The platform's six business classes were an economic-shape taxonomy: fixed income, equity, funds, cash equivalents, real assets, structured products. A tokenized claim on a digital asset needs a separate classification. It is plainly not cash, and it is definitionally not a real asset.
So a seventh class arrived, alongside a Tokenized Virtual Asset template. That template records what an institution needs to see about such a claim: the referenced asset and the network it lives on, the quantity each token represents, and the redemption service level. It also records who holds the reserve, under which custody model, and who attests to it how often.
That template ships with no compliance framework attached, and the omission is deliberate. Virtual-asset regimes differ by jurisdiction, and defaulting every issuance to one country's rules would be worse than asking the issuer to choose.
A commodity that is not a precious metal
The existing precious-metal template hard-codes its metal to gold, silver, platinum, or palladium and requires a purity grade. Energy, agriculture, and base metals had no path through it.
A Tokenized Spot Commodity template carries a commodity class and a unit of measure instead, and no purity grade at all. It records the grade or specification in the market's own words, the delivery point, the warehouse operator and warrant reference, and the inspection certificate. One token represents a stated quantity of a warehoused commodity, which is the claim a commodity buyer is actually holding.
Three shapes for venture financing
Three additions serve instruments that convert into equity rather than paying it.
A SAFE template models a simple agreement for future equity: no interest, no maturity, converting into a target equity at a priced round, at a discount or against a valuation cap, or both. A Warrant template models a right to convert that lives inside a window, so conversion works while the window is open and the warrant has expired once it closes. Both convert into Convertible Target Equity, a separately issued share class that authorises the convertible instrument to mint into it.
Naming the target as its own shape is what separates the source and target records. The instrument that converts and the equity it converts into are two different securities, and modelling them as one record made the cap table wrong at the moment conversion happened.
A two-class equity, modelled as one instrument
A dual-class share structure gives one class more control per share than another. The platform now ships both halves as templates, deliberately asymmetric, and relates them so the catalog shows them as one instrument rather than two assets that happen to share a name.
The Controlling Class Share is the sponsor's. One holder, a contribution in kind rather than a cash raise, and no secondary market. Its compliance stack is three rules: identity verification, a single-entry allow list naming the sponsor, and a supply cap. It carries no on-chain vote weight, because board control here is exercised outside the ledger and modelling it on chain would claim an enforcement that does not exist.
The Economic Class Share is the investors'. Many professional-client holders, a capital raise against a currency-denominated cap, secondary trading, and on-chain vote weight for holder resolutions. Its stack is the full one: identity verification, verification claims that expire, the raise cap, an investor-count limit, and approval over secondary transfers.
Each class points at its own compliance framework, and relating the two changes neither pointer. Where the analysis behind this structure found gaps in the controls themselves, those controls shipped as general capabilities and are covered on compliance controls.
Compatibility and breaking changes
Nothing here breaks an integration. These are catalog rows, added additively. The frozen v1 surface is unchanged and every v2 route keeps its request and response shapes.
An asset already issued is untouched. A template decides what an instrument is created from, and an instrument's behaviours are fixed on the ledger at creation. Changing a template, or adding one beside it, never reaches an asset that already exists.
This release deprecates no template. Nothing in the catalog is being retired, so no removal date applies. One label changed rather than being removed: a commercial real estate template's rental yield field is now labelled as indicative, because it records a figure that nothing paid out. What pays holders is a declared distribution, covered on dividend and interest yield, which also lists which templates now carry which income model.
What this still leaves to you
A template is a starting point and several decisions stay yours.
The Shari'ah framework ships with no approval authority set. Until a deal names one, no transfer can be approved. The same holds for the controlling class allow list: it seeds empty, so the sponsor identity is added when the structure is configured.
Numeric caps in these frameworks are placeholders that a configuration replaces. A raise cap of five million and an investor limit of one hundred and fifty are values the shape can take, not the values your deal has.
The dual-class pairing is seeded by the platform. An organisation cannot yet declare a structure of its own over two templates it authored, so a bespoke multi-class instrument is still two separate templates in your catalog.
A spin-off, a conversion, and a warrant exercise each need the target asset to exist before the source instrument can reach it. The catalog names the target; it does not create it.
Availability
The catalog includes the nine new templates without a separate enable flag. An organization can copy and adjust them before issuance.
Understand instrument templates → · Browse the catalog in the Console → · See how business classes group them →
Governance votes
A governance vote asks a token's holders to approve a decision, weighted by holdings on a record date, and a passing vote can execute the change after a delay.
Template publication
Instrument templates, the reusable product shapes an asset is issued from, are offered for issuance only when an organisation publishes them.