The Frictionless Tokens describe the tokens which are emitted by the Frictionless protocol to represent Asset, Securities and Deposits. These tokens are based on the ERC-3643 specification of IToken.

The following diagram describes the high-level interaction and composition of a Frictionless token.

Git Source

Inherits: IToken

Author: DEFYCA Labs S.à.r.l

Copyright © 2023 DEFYCA Labs S.à.r.l Permission is hereby granted, free of charge, to any person obtaining a copy of the Frictionless protocol smart contracts (the "Software"), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions: The above copyright notice and this permission notice (including the next paragraph) shall be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL DEFYCA LABS S.à.r.l BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.

The IBasicFrictionlessToken Represents the base interface for Frictionless protocol tokens, this interface is used to determine a token type.

Functions

setFrictionlessTokenType

Sets the token type according to the specified enumeration

function setFrictionlessTokenType(FrictionlessTokenTypes newTokenType_) external;

Parameters

getFrictionlessTokenType

Returns the token type according to the specified enumeration

function getFrictionlessTokenType() external view returns (FrictionlessTokenTypes);

Returns

Errors

BasicFrictionlessTokenUnableToUpdateFrictionlessTokenType

error thrown if an attempt to set an invalid token type during function setFrictionlessTokenType

error BasicFrictionlessTokenUnableToUpdateFrictionlessTokenType();

Enums

FrictionlessTokenTypes

Enumeration to represent each of the tokens in the Frictionless protocol.

enum FrictionlessTokenTypes {
    NONE,
    FUND_DEPOSIT_TOKEN,
    DIGITAL_SECURITY_TOKEN,
    ON_CHAIN_ASSET_TOKEN
}

Git Source

Inherits: IBasicFrictionlessToken

Author: DEFYCA Labs S.à.r.l

Copyright © 2023 DEFYCA Labs S.à.r.l Permission is hereby granted, free of charge, to any person obtaining a copy of the Frictionless protocol smart contracts (the "Software"), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions: The above copyright notice and this permission notice (including the next paragraph) shall be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL DEFYCA LABS S.à.r.l BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.

Implementation of the storage of the underlying OnChain Asset and it's data.

Functions

setSpecificationData

Sets the specData data for the FrictionlessOnChainAssetToken. throws FrictionlessOnChainAssetTokenUnableToUpdateData This data is immutable, an attempt to modify will generate the error FrictionlessOnChainAssetTokenUnableToUpdateData

function setSpecificationData(FOCASpecData calldata specData) external;

Parameters

setIssuanceData

Sets the issuanceData data for the FrictionlessOnChainAssetToken throws FrictionlessOnChainAssetTokenUnableToUpdateData This data is immutable, an attempt to modify will generate the error FrictionlessOnChainAssetTokenUnableToUpdateData

function setIssuanceData(FOCAIssuanceData calldata issuanceData) external;

Parameters

setUpdateData

Sets the updatable data for the FrictionlessOnChainAssetToken

function setUpdateData(FOCAUpdateData calldata updateData) external;

Parameters

getSpecificationData

Get the specData data for the FrictionlessOnChainAssetToken.

function getSpecificationData() external view returns (FOCASpecData memory);

Returns

getIssuanceData

Get the issuanceData data for the FrictionlessOnChainAssetToken.

function getIssuanceData() external view returns (FOCAIssuanceData memory);

Returns

getUpdateData

Get the updateData data for the FrictionlessOnChainAssetToken.

function getUpdateData() external view returns (FOCAUpdateData memory);

Returns

getCurrency

Get the currency the FrictionlessOnChainAssetToken is issued in.

function getCurrency() external view returns (string memory);

Returns

Errors

FrictionlessOnChainAssetTokenUnableToUpdateData

error throw if there is an attempt to modify the immutable data.

error FrictionlessOnChainAssetTokenUnableToUpdateData();

Structs

FOCASpecData

The specification data for the FrictionlessOnChainAssetToken, this is an immutable data struct.

struct FOCASpecData {
    uint256 issuedOn;
    uint256 maturityDays;
    FrictionlessOnChainAssetSchedule schedule;
    FrictionlessOnChainAssetPaymentFrequency paymentFrequency;
    FrictionlessOnChainAssetYieldType yieldType;
    string baseCurrency;
    uint256 stripTotal;
    string name;
    string symbol;
}

FOCAIssuanceData

The issuance data for the FrictionlessOnChainAssetToken, this is an immutable data struct.

struct FOCAIssuanceData {
    uint256 auctionedOn;
    FrictionlessOnChainAssetPriceStatus priceQuoteStatus;
    string onChainAssetUUID;
    string issuerUUID;
    string isin;
    string issuanceDocs;
    string assetClass;
}

FOCAUpdateData

The uopdatable data for the FrictionlessOnChainAssetToken.

struct FOCAUpdateData {
    uint256 maturesOn;
    uint256 total;
    FrictionlessOnChainAssetStatus status;
    uint256 yield;
    FrictionlessOnChainAssetRiskGrade riskGrade;
    uint256 pullToParValue;
    address custodianAddress;
}

Enums

FrictionlessOnChainAssetSchedule

Enum for the schedule of the payments by the Manager, either pro_rat or coupon/bullet style.

enum FrictionlessOnChainAssetSchedule {
    SCHEDULE_COUPON_ONLY,
    SCHEDULE_PRO_RATA
}

FrictionlessOnChainAssetPaymentFrequency

Enum for the periodicity of payments by the Manager

enum FrictionlessOnChainAssetPaymentFrequency {
    PAYMENT_FREQUENCY_DAILY,
    PAYMENT_FREQUENCY_WEEKLY,
    PAYMENT_FREQUENCY_MONTHLY,
    PAYMENT_FREQUENCY_QUARTERLY,
    PAYMENT_FREQUENCY_SEMI_ANNUALLY,
    PAYMENT_FREQUENCY_ANNUALLY,
    PAYMENT_FREQUENCY_SINGLE
}

FrictionlessOnChainAssetYieldType

Enum for the yield for this FrictionlessOnChainAssetToken is a fixed/floating rate

enum FrictionlessOnChainAssetYieldType {
    YIELD_FIXED,
    YIELD_FLOATING
}

FrictionlessOnChainAssetPriceStatus

Enum for the price quote status obtained at auction

enum FrictionlessOnChainAssetPriceStatus {
    PRICE_QUOTE_STATUS_UNDER_SUBSCRIBED,
    PRICE_QUOTE_STATUS_PRICED_AT_PAR,
    PRICE_QUOTE_STATUS_PRICED_AT_DISCOUNT,
    PRICE_QUOTE_STATUS_PRICED_AT_PREMIUM
}

FrictionlessOnChainAssetStatus

Enum for the current status of the FrictionlessOnChainAssetToken. Updated over time by the Treasury

enum FrictionlessOnChainAssetStatus {
    STATUS_MINTED,
    STATUS_PURCHASED,
    STATUS_MATURED,
    STATUS_IMPAIRED,
    STATUS_REDEEMED
}

FrictionlessOnChainAssetRiskGrade

Enum for the current S&P style riskGrade of the FrictionlessOnChainAssetToken. Updated over time by the Manager/Treasury/Risk Oracle.

enum FrictionlessOnChainAssetRiskGrade {
    BER_AAA,
    BER_AA,
    BER_A,
    BER_BBB,
    BER_BB,
    BER_B,
    BER_CCC,
    BER_CC,
    BER_C,
    BER_D,
    BER_UNRATED
}

Inherits: IBasicFrictionlessToken

Author: DEFYCA Labs S.à.r.l

Copyright © 2023 DEFYCA Labs S.à.r.l Permission is hereby granted, free of charge, to any person obtaining a copy of the Frictionless protocol smart contracts (the "Software"), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions: The above copyright notice and this permission notice (including the next paragraph) shall be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL DEFYCA LABS S.à.r.l BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.

This is the permissioned & transferable digital security which represents the future cash flow from the FrictionlessOnChainAssetToken and is purchased by the Investor using FrictionlessFundDepositTokens. These digital securities are permissioned and transferable between permissioned Investors in a permissioned secondary market. This token is linked to the FrictionlessOnChainAssetToken and denominated in a FIAT currency at a future date for settlement.

Functions

setInitData

Sets the immutable data for the FrictionlessDigitalSecurityToken

Parameters

setUpdateData

Sets the updatable data for the FrictionlessDigitalSecurityToken

Parameters

getCurrency

Get the baseCurrency is the FIAT denomination of the digital security, this is the currency the FrictionlessOnChainAssetToken is issued in.

Returns

getTokenType

Get the type of the token as defined in the enum FrictionlessDigitalSecurityTokenType.

Returns

getOnChainAssetAddress

Get the onChainAssetAddress the address of the FrictionlessOnChainAssetToken for which this token is a future cash distribution.

Returns

getMaturesOn

Get the maturity date of the digital security.

Returns

Errors

FrictionlessDigitalSecurityTokenInitDataHasAlreadyBeenSet

error throw if there is an attempt to modify the immutable data.

Structs

FDSImmutableData

Struct which represents the immutable data in the Token. Once set it cannot be modified.

FDSMutableData

Struct which represents the updatable data in the Token. This data can be modified by the Agent only.

Enums

FrictionlessDigitalSecurityTokenType

Author: DEFYCA Labs S.à.r.l

Copyright © 2023 DEFYCA Labs S.à.r.l Permission is hereby granted, free of charge, to any person obtaining a copy of the Frictionless protocol smart contracts (the "Software"), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions: The above copyright notice and this permission notice (including the next paragraph) shall be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL DEFYCA LABS S.à.r.l BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.

Interface defining the token factory for all tokens in the Frictionless protocol.

Functions

setTreasuryManager

Sets the Treasury Manager to be the specified address.

Parameters

deployFundDepositToken

Deploys the FrictionlessFundDepositToken contract as a proxy

Parameters

Returns

deployDigitalSecurityToken

Deploys the FrictionlessDigitalSecurityToken contract as a proxy

Parameters

Returns

deployOnChainAssetToken

Deploys the FrictionlessOnChainAssetToken contract as a proxy

Parameters

Returns

treasuryManager

returns the address of the treasuryManager

Returns

existingFrictionlessTokens

Checks whether a given token address is an existing frictionless token

Parameters

Returns

Events

FrictionlessTokenDeployed

Event emitted upon successful deployment of a compliance contract.

Errors

FrictionlessTokensFactoryZeroAddress

error thrown if an attempt to set a zero address contract during function setTreasuryManager

FrictionlessTokensFactoryNotATreasuryManager

error thrown if the msg.sender is not the treasury manager during the functions deployFundDepositToken, deployDigitalSecurityToken, or deployOnChainAssetToken

Structs

BaseTokenInitParams

Struct to represent the base contract data to deploy a Frictionless token contract.

Inherits: IBasicFrictionlessToken

Author: DEFYCA Labs S.à.r.l

Copyright © 2023 DEFYCA Labs S.à.r.l Permission is hereby granted, free of charge, to any person obtaining a copy of the Frictionless protocol smart contracts (the "Software"), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions: The above copyright notice and this permission notice (including the next paragraph) shall be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL DEFYCA LABS S.à.r.l BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.

A Fund Deposit Token represents a permissioned Investors FIAT contribution to a specific fund IBAN in a denominated FIAT currency. The Fund Deposit Token is used as a means of payment and settlement. The Fund Deposit Token can only be transferred between permissioned Investors in the fund. A daily attestation of the fund IBAN serves to prove the 1:1 backing with FIAT. Exclusively under Frictionless Markets S.à.r.l issuance terms Investors holding a FrictionlessFundDepositToken have the legal right to the FIAT value held in the fund IBAN account.

Functions

setInitData

Sets the immutable data for the FrictionlessFundDepositToken

Parameters

getCurrency

Get the currency the FIAT denomination of the deposit token.

Returns

getDescription

Get the description the description of the deposit token.

Returns

getFundIBAN

Get the IBAN which Frictionless Markets S.à.r.l holds a matching FIAT currency ledger with a G-SIB for this currency, attestations are provided on this IBAN. This is restricted to onlyAgent roles.

Returns

Errors

FrictionlessFundDepositTokenUnableToUpdateInitData

error throw if there is an attempt to modify the immutable data.

Structs

FFDImmutableData

Struct which represents the immutable data in the Token. Once set it cannot be modified.