Saltar al contenido principal

2 - Issuance Smart Contract Requirements

The Issuance Smart Contract must include a signature verification system that uses the EIP-712 typed data struct standard to verify that the certain operations can only be carried out with tacit ERIR approval. The issuer is responsible for sending the information to the blockchain and paying the operating gas fees.

The Smart Contract must be based on T-Rex or ERC-3643. If a different standard is used, an external security audit may be required for its approval.

1. Supported Chains​

Currently the chains supported by the ERIR’s Administration Platform are:

NameTypeAssetChainIdERIR Signer Wallet Address
EthereumMainnetETH10xe93FE06e9090287603373ed65360397d7A2c6E18
SepoliaTestnetETH111551110x2C12008e2538BEDd418cDe81DcE955eec2f7B8BE
PolygonMainnetPOL1370x6ECeE01BcDb342367BE04a84CEb8b90038d46a3C
AmoyTestnetPOL800020x39F8ed316Cb51906FDbb48FF85e23D877C17Cf17

f the Issuer wished to use another EVM-compatible chain please contact the ONYZE team. Additional fees may incur.

2. Required Smart Contract Functionalities​

2.1. ERIR Address Registration​

  • Must include an ERIR role or address, and there can only be one entity acting as ERIR.
  • Must allow the ERIR to be changed if necessary, which requires ERIR approval.

2.2. Token Holder Whitelist​

  • A whitelist of token holders must exist.
  • Only users authorized on the whitelist may operate.
  • Token holders may not freely exchange assets without ERIR approval.
  • The ERIR can block or freeze token holders.
  • Tokens cannot be transferred to or from blocked token holders.
  • A token holder can never hold a negative number of tokens.
  • Token holders must be allowed to change their address, which would involve:
    • Adding the new address to the whitelist
    • Moving funds from the old address to the new one
    • Removing the old wallet from the whitelist
    • Requires ERIR signature

2.3. Token Transactions​

  • The ERIR must approve the activation, pause, or closure of the issue.
  • The ERIR can block and unblock a specific quantity of tokens belonging to a token holder, which can include all of them.
  • Frozen tokens cannot be transferred.
  • The burning of tokens requires ERIR approval.
  • The initial minting of tokens does not require ERIR approval.

2.4. Updates and Migrations​

  • The set of Smart Contracts must include upgrade systems. Changing Smart Contract implementations requires ERIR approval.
  • A continuity protocol must be in place to cover the scenario of a possible future migration to another blockchain, so that the issue's state can be easily recreated on the blockchain where it was initially deployed. This continuity protocol must reflect the requirement that any such change or migration to another blockchain must have ERIR approval (off-chain) in order to be carried out.

3. Technical Report​

Prior to approval of the issue, a technical report on the project must be produced by ONYZE which, as an independent expert, validates that it meets the necessary standards, verifying that:

  • No corporate actions can be carried out outside the DLT itself.
  • Assets are always fungible.
  • It does not allow overdrafts of securities, debit balances, or the improper creation or removal of securities.
  • It has procedures in place that guarantee ERIR approval before certain actions are carried out.
  • It has procedures and contingency mechanisms implemented to migrate the issue to a different network.
  • The ERIR has access to and management capability over the holders and titles held within the issue, having at all times available:
    • The identification of the issuing entity and of the issue.
    • The identity of the legitimate holder and, where applicable, of the beneficiary of any limited rights or encumbrances.
    • The class, nominal value (where applicable according to its nature), and the number of financial instruments comprised, along with their issuance date.
  • The ERIR is informed of, manages, and tacitly approves any of the following:
    • Modification of the Smart Contract's implementation code.
    • Registration, constitution, and execution of the different legal acts and transactions that must be registered under law, including, among others:
      • Limited real rights
      • Liens
      • Forced transfers
      • Transfers due to death of the holder (mortis causa)
      • Other legal encumbrances
    • The exercise of rights to interest payments, dividends, and any other corporate events of an economic nature.
    • The restitution of financial instruments to their holder in the event of theft or loss of public or private keys.
    • The various corporate events, registrations, or encumbrances affecting the issue.
  • None of the above actions can be carried out against the Smart Contract without the ERIR's tacit approval.