Stablecoin
A Stablecoin lets an issuer declare a currency peg and enforce a collateral check against a signed claim, on the same record as the rest of the token's life.
At a 150 percent ratio, minting to a total supply of 1,000 units requires a valid claim for at least 1,500 units.
An issuer declares a stablecoin's reference currency and price as claims on the token's own record, so the peg sits next to every mint, transfer, and freeze the token logs. The classification itself does not guarantee redemption or independently verified reserves.
When collateral enforcement is enabled, every mint is checked against a valid, unexpired claim that covers the post-mint supply at the configured ratio, so a mint the attested collateral cannot cover fails before it completes. A ratio of zero disables this check.
Reserve reports and attestations attach to the same asset record for independent review. Uploading them does not verify a reserve balance on chain.
Why a peg belongs on the token's own record
Cash is one of the seven business classes the platform's asset design step chooses from, alongside fixed income, equity, funds, real assets, digital assets, and structured products. A stablecoin is a cash-class instrument. An issuer selects that class at design time, and the platform deploys it through the same factory, the same identity contract, and the same role and rule machinery as a bond or an equity share.
Off-platform, a stablecoin's peg and its reserve backing are usually published as separate documents the issuer controls. A whitepaper states the peg, and a periodic attestation states the reserve, with no structural link between what circulates on chain and what either document actually covers. A holder or a counterparty takes the gap between mint and attestation on faith. On this platform, the declared reference currency and price are claims written onto the token's own identity record, the same record that carries every transfer, freeze, and role grant that instrument ever logs. When collateral enforcement is turned on, the mint check reads a claim from that same record, so a reviewer who already checked the peg claim finds the collateral claim beside it.
Asset Lifecycle names the cost this avoids: running issuance, disclosure, and enforcement across separate systems creates a boundary between them, and a boundary is where a ledger state and an attested record can drift apart. Keeping a stablecoin's peg declaration, its collateral check, and its reserve documents on the asset record that already holds its transfer and freeze history removes one such boundary. An integrator or an auditor reads one record for what the token claims and what has happened to it, instead of reconciling a chain state against a separately maintained attestation file.
That record answers what the contract enforces. It does not answer whether the reserve behind the peg exists at the stated size. That question is verified through the issuer's own operating process and the documents reviewed under Review reserve evidence separately.
Configure the token and its disclosures
An issuer creates a stablecoin in the cash asset class, either directly through the creation API or through 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, the reusable issuance blueprint that pre-fills required fields and disclosures. Both paths accept the same declared reference currency, declared price, and optional collateral ratio. A request can also carry a peg mechanism, one of fiat-backed, crypto-backed, algorithmic, or commodity-backed, and a free-text reserve description. Either one attaches as a claim on the token's own identity the moment it is supplied, and leaving both out attaches nothing. The template also configures a Composable TokenA Composable Token lets an issuer bring a new regulated instrument to market by configuring facts, features, and rules, not new contract code.Read the concept, the token assembled from configurable permissions and controls, and can require further features and metadata.
The seeded Fiat-Backed Stablecoin template collects issuer and reserve-attestation metadata alongside the declared peg. Inspect the selected template's own fields before issuance: the platform validates what is submitted, and validation is not evidence that the disclosed reserves exist or hold the stated value.
| Setting | Meaning |
|---|---|
| Reference currency and price | The currency and declared price used to value the token. A declared peg price is not a market-price guarantee. |
| Collateral ratio | When collateral enforcement is configured, its ratio ranges from 0 to 200 percent. Zero disables the check. |
| Peg mechanism and reserve description | Optional fields on the create request. Either one attaches as a claim on the token's identity when supplied, and neither one establishes reserve backing on its own. |
| Template metadata | The selected template defines the issuer and reserve disclosures collected at issuance. |
The Console displays the peg currency when price-currency data is available. It displays the peg mechanism and reserve description when the token's identity claim supplies them. Missing details stay absent. They are not evidence that a reserve is empty or verified.
Start with issuing an asset to select a template and inspect its required fields. Use the API reference for the creation contract.
Collateral enforcement checks the attested amount
Collateral enforcement is a configured token control. It checks claims on the token's own On-Chain IdentityAn On-Chain Identity lets a subject's verification serve every asset that accepts it, so a screened wallet skips re-onboarding for the next regulated asset.Read the concept, the registry of attestations attached to that token, and accepts a valid, unexpired claim from a trusted issuer. The claim's amount must cover the supply after the proposed mint at the configured ratio.
The required amount is the post-mint supply multiplied by the ratio, rounded up to a whole base unit. For example, 1,000 base units at 150 percent require a claim for at least 1,500 base units. Keep supply and claim amounts in the same units. The check does not convert a reserve's market value into token units.
A signed claim can be valid while its underlying reserve report is wrong. The check inspects the attestation and the amount it states. Independent reserve verification stays an operational responsibility outside the check.
The collateral check runs at mint. It does not recheck collateral on transfer or burn, and a later claim expiry does not remove existing supply. Other token controls can still restrict those operations.
When collateral enforcement is absent or the ratio is zero, this check does not limit minting. A token's other configured permissions and compliance rules continue to apply.
Price freshness follows the feed configuration
Every token's price feed has its own staleness window: the maximum age a price observation may reach before a mint or another price-dependent check treats it as unusable. The platform can express a price feed window that never expires, alongside an ordinary maximum-age window measured in seconds. A declared peg price suits the non-expiring kind, since a fixed peg does not go stale the way a moving market feed does.
That is a capability of the feed system, not a fixed default this template guarantees. Check the asset's actual feed configuration rather than assuming a window from its business class. A non-expiring window treats the declared peg price as fixed. It does not show that a market price still matches it. Market Data explains feed observations and their validation.
Review reserve evidence separately
The platform provides document categories for reserve audits, attestation reports, and reserve composition. It also supports legal opinions and regulatory filings. The category list describes the documents an issuer can attach. It is not a requirement that every stablecoin has supplied them.
Verify the reserve account, valuation method, report date, and redemption terms through the issuer's operating process. A document upload, declared peg, or successful mint does not establish that holders can redeem at the stated price.
Frequently asked questions
Why does a mint fail after a collateral claim expires?
With a nonzero collateral ratio, the mint check requires a valid claim that covers the resulting supply. Renew the attestation through a trusted issuer and confirm its amount before retrying. A larger mint can also fail when the claim remains valid but no longer covers the required amount.
Does a collateral ratio of 150 percent establish 150 percent reserve backing?
It requires an attested amount of at least 150 percent of post-mint supply. Establishing the underlying reserve balance requires separate evidence.
Does a stablecoin classification enable collateral checks?
The classification alone does not enable the check. Inspect the asset's configured compliance rules and collateral ratio. The seeded template's name and reserve metadata do not prove that a collateral rule is active.
Denomination Asset
A Denomination Asset lets a payout-bearing Token Feature, such as Maturity Redemption or a yield schedule, pay holders in a real asset it never custodies.
Asset Lifecycle
Asset Lifecycle is the whole working life of a regulated tokenized instrument, from issuance through servicing to redemption, governed on one platform.