Digital assets

Instruments with transfer rules, without an administrator who can freeze anyone.

The problem

Regulated instruments need conditions on movement. The usual mechanism is a privileged key that can freeze accounts — a power whose existence is the risk.

Without Bengar

An admin key that can immobilise any holder.
A blacklist maintained by whoever holds that key.
Metadata that can change after people have relied on it.

With Bengar

Trust gating: a movement requires an authorization the issuer's rules produced, with an audit trail.
A supply model fixed at creation: FIXED, or CAPPED_MINTABLE with an unchangeable cap.
Immutable metadata, so a symbol means the same thing tomorrow.

The flow

Create the asset; its supply model and metadata are permanent.
Set a gating policy naming acceptable signer keys.
Each movement is authorized, and carries an artifact with a nonce and a short window.

Components used

Assets · Policy · Approvals · Network

Example

// What the chain refuses, by construction:
//   freeze          — no such message
//   blacklist       — no such message
//   authority transfer — no such message
//   metadata update — no such message

Security properties

No generic administrator and no freeze.
An artifact is not a payment instruction and moves nothing by itself.
Spent nonces outlive the gate, so removing gating does not enable replays.

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