2.8.9 Structured Asset Administration Policy

In the OAE framework, administration over Asset SC can be assigned to any account with a valid Xend ID. While the administrator can also be the asset owner, it's not a mandatory requirement.

Mandatory Ownership Coverage

Upon deploying an asset smart contract to OAE, the administrator must

• Mint tokens representing 100% ownership to the asset

• Allocate all these tokens to specific owners

Administrators can also mint and allocate other tokens, however this is not obligatory for assets to be onboarded. Once ownership tokens are assigned to wallets, administrators can also parametrize any further redistribution rules of these tokens (e.g. vesting).

IMPORTANT NOTE: In case of designing and parametrizing vesting of any tokens to the assets (i.e. gradual transfer from one wallet to another based on distribution rules). Asset needs to be onboarded to OAE first, meaning that ownership tokens to that asset are first allocated to the origin owner, and then re-distributed (vested) to subsequent owners.

Reassignment Policy

Majority owners can always reassign administrative rights to another Xend ID, which takes effect once the new administrator accepts the role. This process automatically suspends the current administrator's rights.

Internal Policy

Each smart contract is equipped with an internal policy that specifies which operations

• Operations that require majority ownership approval

• Operations that may be independently managed by the administrator.

- Asset ownership vs administration