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Risks, Exceptions, and Recredit/Close

Tokenized-deposit programmes stay credible only when exceptions, returns, recredits, and redemptions are described as part of the live lifecycle.

Exception paths are part of the product

The programme must explain what happens if a route fails, a receiving institution rejects the movement, a reservation expires, or a linked cash-leg condition no longer holds. Those are product truths, not edge-case footnotes.

Exception classes to publish

  • Institution or participant no longer eligible for the route.
  • Reservation or liquidity position insufficient for release.
  • Receiving-institution rejection or missing credit confirmation.
  • Operating-window miss, queue, or timeout.
  • Redemption request, return, or recredit after a failed route.

Recredit and close sequence

  1. Record the failed or incomplete route state and preserve the evidence reference.
  2. Return the movement or recredit the originating balance under the programme rules.
  3. Publish the resulting close state so treasury, operations, and counterparties see the same outcome.
  4. Complete reconciliation and archive the evidence pack for audit or review.