ERC-7092: Financial Bonds

EIPs
1

Implementing a standard API for Financial Bonds. This standard allows Institutions, Corporations, Municipalities, Decentralized Exchanges and Individuals to issue bonds in the Primary Market, to exchange bonds in the Secondary Market, and to redeem bonds when they mature.

The standard defines all the basic properties needed to model a financial bond, such as the issue date, the maturity date, the coupon rate, the principal, and the currency.

The standard could then be used to create bonds with embedded options such as CALLABLE bonds, PUTTABLE bonds, and CONVERTIBLE bonds.

Link to the draft EIP: Financial bonds - ERC-7092

2

Thank you for the EIP. This seems interesting!

/**
* @notice Returns the bond maturity date, i.e, the date when the pricipal is repaid. This is a Unix Timestamp like the one returned by block.timestamp
*         The maturityDate MUST be less than the issueDate
*/
function maturityDate() external view returns(uint256);

Should it be ā€œgreater thanā€ rather than ā€œless thanā€ here?

1 Like
3

Hello @xinbenlv

Thank you for the comment.

Youā€™re right, it should be ā€œgreater thanā€, rather than ā€œless thanā€. Going to correct it right now.

4

This is really great! Letā€™s disrupt the TradFi and give back power to the people!

1 Like
5

@ToDestiny

Yes, By proposing Tokenized bonds, more people could be interested in the Bond Market. And since smart contracts will replace intermediaries, people will have more power on their bonds, they can manage their bonds by their own.

6

Iā€™m very well inclined to help build this ERC!!

Is there an active repo open for contribution?

1 Like
7

Hello @ownerlessinc

Thank you for your interest.
Could you send me a message on LinkedIn ? I will let you know how you can contribute to the ERC (give you access to the repo)

Here is my LinkedIn

https://www.linkedin.com/in/samuel-ongala-edoumou/

8

I would recommend putting the optional functions (eg. currencyOfCoupon, couponType, etc) into their own interfaces. Even if you donā€™t explicitly support ERC-165 (which do I recommend you do), putting them into interfaces will make it easier for anyone who wants to use ERC-165.

1 Like
9

Hello @SamWilsn,

Supporting ERC-165 was one of the option I thought about for ERC-7092. I abandoned that idea because these functions are optional. But now that you have pointed it out I think using the interfaces for optional functions is a good option that need to be considered.

:pray::pray::pray:

10

ERC-7092 now supports ERC-165

Thank you @SamWilsn for your suggestion.

11

This is a step in the right direction for simplifying the tokenization of bonds.

1 Like
12

Thank you @Mani-T

We tried to make the standard as close as to what in done in TradFi in order to let Issuers, Investors and Institutions that issue Bonds to move to Tokenize bonds without significant disruption, but also to allow people who cannot invest in the bond Market to participate, thanks to fractionalization that lowers the entry barrier for retail investors.

1 Like