Merge pull request #19 from cusma/chore/update-deployment

chore: update deployment

README.md

@@ -8,9 +8,9 @@ D-ASA examples deployed on TestNet:
 
 | Type              | App ID                                                             | App Spec                                                                                                                  |
 |-------------------|--------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|
-| Zero Coupon Bond] | [733108734](https://lora.algokit.io/testnet/application/733108734) | [ARC-32](https://github.com/cusma/d-asa/blob/main/smart_contracts/artifacts/zero_coupon_bond/ZeroCouponBond.arc32.json)   |
-| Fixed Coupon Bond | [733108735](https://lora.algokit.io/testnet/application/733108735) | [ARC-32](https://github.com/cusma/d-asa/blob/main/smart_contracts/artifacts/fixed_coupon_bond/FixedCouponBond.arc32.json) |
-| Perpetual Bond    | [733108736](https://lora.algokit.io/testnet/application/733108736) | [ARC-32](https://github.com/cusma/d-asa/blob/main/smart_contracts/artifacts/perpetual_bond/PerpetualBond.arc32.json)      |
+| Zero Coupon Bond] | [733151482](https://lora.algokit.io/testnet/application/733151482) | [ARC-32](https://github.com/cusma/d-asa/blob/main/smart_contracts/artifacts/zero_coupon_bond/ZeroCouponBond.arc32.json)   |
+| Fixed Coupon Bond | [733151497](https://lora.algokit.io/testnet/application/733151497) | [ARC-32](https://github.com/cusma/d-asa/blob/main/smart_contracts/artifacts/fixed_coupon_bond/FixedCouponBond.arc32.json) |
+| Perpetual Bond    | [733151498](https://lora.algokit.io/testnet/application/733151498) | [ARC-32](https://github.com/cusma/d-asa/blob/main/smart_contracts/artifacts/perpetual_bond/PerpetualBond.arc32.json)      |
 
 1. Download the App Spec JSON file;
 1. Navigate to the [Lora App Lab](https://lora.algokit.io/testnet/app-lab);

docs/SUMMARY.md

@@ -18,7 +18,7 @@
 - [Contract]()
   - [Type](./contract-type.md)
   - [Denomination](./denomination.md)
-  - [Principal (Par)](./principal.md)
+  - [Principal](./principal.md)
   - [Interests](./interests.md)
     - [Variable Interests](./variable-interests.md)
   - [Time Schedule](./time-schedule.md)

docs/interests.md

@@ -11,7 +11,9 @@ points</a>* (*bps*).
 
 ## Interest Rate
 
-The D-ASA **MUST** define a *nominal interest rate* \\([IPNR]\\) (`uint16`).
+The D-ASA **MAY** define a nominal *interest rate* \\([IPNR]\\) (`uint16`).
+
+The *interest rate* **MUST** be set using the `asset_config` method.
 
 ## Coupons
 

docs/payment-agent.md

@@ -11,7 +11,7 @@
 > of payees.
 
 > Although a single block proposer could order transactions in a block, in a healthy
-> network, block proposers are selected randomly by the Algorand consensus. Therefore,
+> network block proposers are selected randomly by the Algorand consensus. Therefore,
 > order of payments in a block is random and unbiased, with no systematic advantage
 > or precedence of a payee with respect to others.
 

docs/principal.md

@@ -31,29 +31,35 @@ The *discount* **MUST** be set using the `asset_config` method.
 > Let’s have a D-ASA denominated in EUR, with a principal of 1M EUR paid at maturity
 > and a minimum denomination of 1,000 EUR. The D-ASA has a principal discount of
 > 200 bps (2%) at the issuance. Each D-ASA unit is sold on the primary market at
-> 980 EUR and will redeem 1,000 EUR of principal at maturity.
+> 980 EUR and will be redeemed for 1,000 EUR of principal at maturity.
 
 ## Amortization
 
+> ⚠️This section is still subject to major changes and reviews.
+
 > Debt instruments principal may be amortized until maturity, according to an amortization
 > schedule.
 
 If the debt instrument has *principal amortization*, the D-ASA **MUST** define the
 *amortization rates* as `uint16[]` array, where:
 
-- The length of the array is `N=K+1`, with `K` equal to the **fixed** *total coupons*;
+- The length of the array is `N=K+1`, with `K` equal to the **fixed** *total coupons*
+(see [Coupons](./interests.md#coupons) section);
 
 - The first `K`elements of the array are the *amortizing rates* associated with
 *coupon* payments;
 
-- The last element of the array is the *amortization rate* associated with *principal*
-payment;
+- The last element of the array is the *amortization rate* associated with *outstanding
+principal* payment at *maturity date*;
 
 - The elements of the array are expressed in *<a href="https://en.wikipedia.org/wiki/Basis_point">basis
 points</a>* (*bps*);
 
 - The sum of all the *amortization rates* is equal to `10,000` *bps*.
 
+The *amortization rates* define the amount of principal \\([PRNXT]\\) paid at the
+next payment date.
+
 > 📎 **EXAMPLE**
 >
 > A D-ASA with 5 coupons and even principal amortizing rates has the following amortizing

docs/reference-implementation.md

@@ -48,9 +48,9 @@ D-ASA examples deployed on TestNet:
 
 | Type                                            | App ID                                                                        | App Spec                                                                                                                             |
 |-------------------------------------------------|-------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------|
-| [Zero Coupon Bond](./ref-zero-coupon-bond.md)   | <a href="https://lora.algokit.io/testnet/application/733108734">733108734</a> | <a href="https://github.com/cusma/d-asa/blob/main/smart_contracts/artifacts/zero_coupon_bond/ZeroCouponBond.arc32.json">ARC-32</a>   |
-| [Fixed Coupon Bond](./ref-fixed-coupon-bond.md) | <a href="https://lora.algokit.io/testnet/application/733108735">733108735</a> | <a href="https://github.com/cusma/d-asa/blob/main/smart_contracts/artifacts/fixed_coupon_bond/FixedCouponBond.arc32.json">ARC-32</a> |
-| [Perpetual Bond](./ref-perpetual-bond.md)       | <a href="https://lora.algokit.io/testnet/application/733108736">733108736</a> | <a href="https://github.com/cusma/d-asa/blob/main/smart_contracts/artifacts/perpetual_bond/PerpetualBond.arc32.json">ARC-32</a>      |
+| [Zero Coupon Bond](./ref-zero-coupon-bond.md)   | <a href="https://lora.algokit.io/testnet/application/733151482">733151482</a> | <a href="https://github.com/cusma/d-asa/blob/main/smart_contracts/artifacts/zero_coupon_bond/ZeroCouponBond.arc32.json">ARC-32</a>   |
+| [Fixed Coupon Bond](./ref-fixed-coupon-bond.md) | <a href="https://lora.algokit.io/testnet/application/733151497">733151497</a> | <a href="https://github.com/cusma/d-asa/blob/main/smart_contracts/artifacts/fixed_coupon_bond/FixedCouponBond.arc32.json">ARC-32</a> |
+| [Perpetual Bond](./ref-perpetual-bond.md)       | <a href="https://lora.algokit.io/testnet/application/733151498">733151498</a> | <a href="https://github.com/cusma/d-asa/blob/main/smart_contracts/artifacts/perpetual_bond/PerpetualBond.arc32.json">ARC-32</a>      |
 
 1. Download the App Spec JSON file;
 1. Navigate to the <a href="https://lora.algokit.io/testnet/app-lab">Lora App Lab</a>;

docs/time-events.md

@@ -1,23 +1,23 @@
-# Time Events {#time-events}
+# Time Events
 
 > D-ASA *time events* are time on which contractual events are due or on which cyclic
 > events begin or end.
 
-## Primary Distribution {#primary-distribution}
+## Primary Distribution
 
 > Debt instruments can be distributed on the primary market during the primary distribution.
 
 > The opening and closure dates define the primary distribution duration.
 
 The D-ASA **MUST** have a *primary opening* (`uint64`) and *closure date* (`uint64`).
 
-## Issuance {#issuance}
+## Issuance
 
 > Debt instruments start accruing interest on the issuance date.
 
 The D-ASA **MUST** have an *issuance date* \\([IED]\\) (`uint64`).
 
-## Maturity {#maturity}
+## Maturity
 
 > Debt instruments may have a maturity date, on which the principal is repaid and
 > the contract obligations expire.
@@ -29,7 +29,7 @@ The D-ASA **MAY** have a *maturity date* \\([MD]\\) (`uint64`).
 The *maturity date* **MAY** be updated in case of early repayment options (see
 [Early Repayment Options](./early-repayment-options.md) section).
 
-## Time Events array
+## Time Events Array
 
 The D-ASA **MUST** define *time events* \\([TEV]\\) as `uint64[]` array, where:
 

docs/time-periods.md

@@ -1,4 +1,4 @@
-# Time Periods {#time-periods}
+# Time Periods
 
 > D-ASA time periods can be used to define recurring (or "cyclic") events.
 
@@ -56,7 +56,7 @@ events*.
 > The sum of the 4 coupon *time period durations* must be smaller than the time
 > period between the *issuance date* and the *maturity date*.
 
-## Unlimited time schedule
+## Unlimited Time Schedule
 
 If the D-ASA has an **undefined** number of *coupons*, then the *coupon due dates*
 \\([IP]\\) **MUST** be defined with a *time period* `(uint64,uint64)`.

docs/variable-interests.md

@@ -1,12 +1,25 @@
 # Variable Rates
 
-> ⚠️This section may still be subject to major changes and reviews.
+> ⚠️This section is still subject to major changes and reviews.
 
 > Debt instruments may have variable interest rates, based on external data oracles.
 
 If the debt instrument has *variable interest rates*, the D-ASA **MAY** implement
 the **OPTIONAL** `set_variable_interest` method.
 
+## Interest Update Dates
+
+The D-ASA **MUST** define *interest update dates* of known \\([RRF]\\) or unknown
+\\([RR]\\) with respect to:
+
+- *time events* if the D-ASA has **fixed** number of *coupons* (see [Time
+Events](./time-events.md#time-events-array) section);
+
+- *time periods* if the D-ASA has **undefined** number of *coupons* (see [Time
+Periods](./time-periods.md#unlimited-time-schedule) section).
+
+The first *interest update date* corresponds to \\([RRANX]\\).
+
 ## Spread
 
 > Debt instruments typically define a spread (bps) with respect to an external index
@@ -30,7 +43,7 @@ spread* to `0`.
 > Debt instruments may define limitations to the interest rate variability, either
 > over the whole contract lifespan or over specific periods.
 
-### Life
+### Life Caps
 
 The D-ASA **MAY** define a *life cap* \\([RRLC]\\) (`uint16`) in *bps* to apply
 to the variable *interest rate*.
@@ -47,7 +60,7 @@ cap* to `0`.
 If the debt instrument has no *life floor*, then the D-ASA **MUST** set the *life
 floor* to `0`.
 
-### Period
+### Period Caps
 
 The D-ASA **MAY** define a *period cap* \\([RRPC]\\) (`uint16`) in *bps* to apply
 to the variable *interest rate*.