MUNICIPAL BONDS

Municipal Bond Events

ISSUANCE COUPON_PAYMENT TRANSFER MATURITY

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Municipal Bond Smart Contract Data Flows

ISSUANCE

1. Municipality approves bond offering.

2. Underwriter allocates bonds to investors off chain.

3. Admin whitelists investors in Authorization Module.

4. Admin records allocations in Transactional Module.

5. Transfer Agent Module mints par value to each investor on Bond Token.

6. Investors wire purchase price to issuer off chain.

COUPON_PAYMENT

1. Bond reaches scheduled coupon date.

2. Admin calls Transfer Agent Module with coupon rate.

3. Transfer Agent Module reads all holder balances from Bond Token.

4. Transfer Agent Module calculates coupon per holder.

5. Transfer Agent Module emits CouponPayment event.

6. Paying agent wires coupon to each holder off chain.

TRANSFER

1. Seller and buyer agree on price off chain.

2. Broker submits transfer to Transactional Module.

3. Authorization Module verifies both parties whitelisted.

4. Transfer Agent Module moves par from seller to buyer on Bond Token.

5. Buyer wires price plus accrued interest to seller off chain.

MATURITY

1. Bond reaches maturity date.

2. Admin calls Transfer Agent Module.

3. Transfer Agent Module reads all holder balances.

4. Transfer Agent Module burns all tokens from Bond Token.

5. Paying agent wires par value to each holder off chain.

6. Bond contract marked inactive.