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The Burn workflow removes existing holdings from circulation. Like minting, burning uses a request-and-accept model.

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Prerequisites

Before burning can occur:
  • The holdings must already exist.
  • The requester must hold the amount to be burned.
  • The requester must satisfy the issuer credential requirements defined in the Instrument Configuration.
  • If no issuer credential requirements are defined, any party may request a burn.

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Workflow

  1. The requester creates a Burn request.
  2. The requester specifies:
    • Instrument identifier.
    • Amount to burn.
    • Registrar party.
    • Optional reference.
  3. The Registry App selects holdings to cover the burn amount.
  4. The selected holdings are locked while the request is pending.
  5. The Registrar reviews the Burn request.
  6. The Registrar accepts or rejects the request.
  7. If accepted, the locked holdings are permanently removed.
  8. If rejected, the Burn request is voided and the locked holdings are released.

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Cancellation

The requester may cancel the Burn request before it is accepted by the Registrar. If cancelled, any locked holdings are released and can be used again.