Glossary - NodeAsset

Canton and the Registry

Term	Meaning
Canton Network	The network NodeAsset runs on. Each organization runs its own node and sees only the contracts it is party to, and a transaction commits whole or not at all.
Party	An identity on Canton, such as a bank, a fund’s issuer or an investor. Each party is hosted on a Canton node.
Canton node	An organization’s node on the Canton Network (a Canton participant). It holds its parties’ contracts and signs for them.
DA Registry	Digital Asset’s registry on Canton. It holds every unit of an asset, checks every act against the asset’s rules, and mints and burns under the registrar’s authority.
Registry	Where an asset’s units are recorded and moved: its issuer’s own registry on the DA Registry. A fund’s units sit on the fund’s registry; its payment asset, such as a bank’s tokenized deposit, on its issuer’s. A subscription paid on the ledger settles on both, in one transaction.
Registrar	The party that administers an asset on the DA Registry and signs every holding of it. In these docs, the issuer.
Register keeper	The party that keeps an asset’s register: its issuer, or the transfer agent it appoints; on the DA Registry, the asset’s registrar. It decides every change to the register.
Venue	The bank or firm that runs NodeAsset. Its party records each order and settles it as executor; it never sets a price.
CIP-56	Canton’s token standard: how holdings, transfers and allocations work, across wallets and registries.
CIP-112	The second version of Canton’s token standard. It adds batch settlement: every leg of a trade, across registries, in one transaction.
Vetting	A node’s approval of a software package before it acts on it. A new asset needs none; a new release does.

Assets and orders

Term	Meaning
Price source	The party whose signature prices an asset; for a fund, its administrator. An asset at par needs none.
NAV	Net asset value: a fund’s value per unit, signed by its price source. Every order settles at it.
Payment asset	The cash on the DA Registry that pays for an asset’s orders, such as a bank’s tokenized deposit or a stablecoin. Its issuer mints and burns it on its own registry.
Tokenized deposit	A bank deposit as a token on the bank’s own registry, worth one unit of its currency.
Subscription	An investor’s purchase of new units at the NAV, paid for and minted in one transaction. The venue’s record of it holds the units, and the NAV the price source priced them at.
Redemption	An investor’s return of units to the fund, priced by the price source, burned and paid out in one transaction.
Allocation	An amount a party sets aside for one settlement. Only that settlement can move it, and it is released if the order is withdrawn.
Settlement batch	Every leg of a trade on one registry, settled together. Two batches in one transaction settle across two registries.
DvP	Delivery versus payment: units are delivered only when they are paid for, at the same moment.
Dealing cycle	A day’s subscriptions and redemptions settled together at one NAV; the fund’s cash account moves only the net.
Standing consent	The fund issuer’s advance agreement, signed with the fund’s cash account, to mint and be paid only at the price source’s NAV. It lets each order settle without anyone signing again.
Distribution	A period’s income paid to holders; for a money-market fund, in new units, net of withholding.
Backed instrument	A stablecoin or a note minted against deposits of eligible assets into its reserve, and burned against payouts from it.
Reserve	The contract on the ledger that holds a backed instrument’s assets, mints and burns it, and checks its cover in the same transaction. The venue, the issuer and the reserve’s holder sign it.
Cover	A reserve’s value after haircuts over what is outstanding, at the backed instrument’s price. It never falls below the minimum cover.
Lock agreement	Another registrar’s one-time consent that a reserve may lock and merge its asset’s holdings, never transfer them.
Reserve report	The proof of reserve the ledger itself computes: every holding re-read and priced fresh, signed by the venue and the issuer.

Eligibility and controls

Term	Meaning
Admission	Letting an investor hold an asset. Where the asset takes the register keeper’s credential, the venue admits under the register keeper’s admission consent, and the register keeper’s own credential about the investor is created, with nothing for the investor to accept. Where it takes the venue’s, the venue offers its credential and the investor’s custodian accepts.
Admission consent	The register keeper’s standing consent to admissions to an asset: the KYC providers it trusts, the claims an admission needs, and the residencies and investor types it admits. The ledger checks every admission against it and creates the register keeper’s credential; the register keeper signs it once and does nothing per admission.
Credential	The DA Registry’s record that an investor may hold an asset. The registry checks it on every mint, transfer and burn.
Claim	A fact a credential carries about its investor, such as residency, investor type or accreditation, with an expiry. It comes from KYC results; no personal data reaches the ledger.
Policy	An asset’s versioned rules: who may hold it, how much, and when. Tightened at once; loosened only by two approvers after a day’s notice.
Four eyes	One person makes a change and another approves it before it runs. The riskiest changes need two approvers besides the maker.
Freeze	A stop on one investor, at once: entirely, or except to leave (“liquidate only”). Two approvers lift it.
Hold	A stop on a whole asset: its distributions, redemptions and new orders. Two approvers release it.
Issuer powers	Forced transfer and recovery: moving an investor’s units on an order, or to its new account, only with its prior consent and two approvers.
Reconciliation	Checking every mint and burn against what was planned, and the ledger against outside records. Anything unexplained stops the book.