Asset lifecycle
How an asset changes hands after issuance: a first sale at a fixed price, order book trading, multi-party settlement at agreed amounts, and governance votes.
Every page here runs a process on a shared market or a token's whole holder base, not a single position. That process might be a sale open to eligible investors, an order book and its operator controls, an exchange between several parties, or a vote across a token's holder base. That reach separates this section from the rest of the Console, where most screens act on one position at a time. It also raises the stakes. Activating an offering enables purchases under its schedule, executing a settlement moves several parties' assets in one transaction, and executing a passed governance vote can change authorized token parameters.
How the price is set picks the page: fixed by the issuer, discovered by the order book, or agreed among the parties before anything moves. Governance votes can authorize changes to the asset.
The Primary OfferingA Primary Offering lets an issuer sell newly issued units once and resolve payment, allocation, and delivery or refunds as one on-chain outcome.Read the concept and XvP settlementXvP Settlement lets two or more parties exchange tokenized assets without either side delivering first: local legs settle atomically, external legs by hashlock.Read the concept concept pages carry the full model behind two of the rows below.
| Page | Choose it when | What it costs you |
|---|---|---|
| Primary Offerings | The token has never changed hands, and you are running its first sale at a price you set. | No price discovery: your fixed price is what investors pay, whichever way the market would have priced it. |
| Trading | Supply already circulates, and you want the market itself to find the price through a resting order book. | You place and cancel orders like any participant; operating the market itself is a separate page. |
| Venue operations | The market itself needs listing, halting, delisting, or a pending delivery undone before its holding period ends. | You never place an order here: operating the market and trading on it stay on separate pages. |
| XvP settlement | The parties already agreed what changes hands and at what amount, and it has to move atomically or not at all. | No price discovery either: you fix every amount before it runs, and you own that price since no market corrects it afterward. |
Trading and Venue operations both run on the Trading Venue, which carries Early Access maturity. Their interfaces can change between releases. Review release notes before upgrading an integration that depends on them. Release maturity explains what that label commits to and what it does not.
Governance votes is the one page here that changes the asset instead of moving it. Holders approve a "Resolution" or a "Multi-option resolution" on-chain. A Resolution can carry executable actions, or none: leave the list empty for a plain resolution, or compose them from a curated catalog. A passed vote is queued on a timelock, then executed. Its authorized actions can change a supply cap or fee rate. A vote without actions completes the same recorded lifecycle without changing token parameters. The same screen also creates a "Poll", which collects signed ballots off-chain to gauge holder opinion and never touches the token.
Work on a single position belongs in Asset management instead: a transfer to a named wallet, a mint, a burn, a pause. Creating the token comes before any of this, in Asset design and Issue new asset. The Asset LifecycleAsset Lifecycle is the whole working life of a regulated tokenized instrument, from issuance through servicing to redemption, governed on one platform.Read the concept concept page carries the full issuance-to-redemption model; this section covers the market activity that moves the asset and the vote that changes it instead. For a token that has never changed hands, the section starts at Primary Offerings.
Corporate actions
Record approved corporate event terms on an issued asset, preview the holder allocations, and confirm execution.
Primary Offerings
A Primary Offering is the contract-governed first sale of new assets to investors, from funding through delivery, refunding only if the minimum is missed.