Architecture
The Digital Transfer Agent (DTA) technical standard is designed around a core principle: separation of concerns. This ensures a system that is secure, decentralized, and flexible. The architecture clearly distinguishes between the public-facing Request Management contract, where users interact, and the private, secure Request Settlement contract, where fund operations occur.
This design allows the public, multi-tenant DTA Request Management to coexist with private, single-tenant DTA Request Settlement contracts controlled by each Transfer Agent, delivering open discovery with segregated, secure settlement.
Core components
Digital Transfer Agency contracts
DTA Request Management
DTA Request Management serves as the central hub for discovery and requests.
Key Responsibilities:
- Request Intake: Acts as the entry point for all subscription and redemption requests from distributors.
- Initial Validation & Calculation: When a Transfer Agent initiates processing, DTA Request Management validates requests against operational rules (such as rate limits and time zones) and calculates final share or payment amounts using the NAVLink feed.
- Request Routing: After processing, it forwards finalized request details to the appropriate DTA Request Settlement contract, which is deployed and owned by the fund’s Transfer Agent.
DTA Request Settlement
The DTA Request Settlement is owned and deployed by the Transfer Agent. This contract manages the asset movement and the core settlement logic.
Key Responsibilities:
- Token Control Authority: Holds rights to mint, burn, and transfer the fund’s tokenized shares, enforced via role-based permissions.
- Asset Custody: Holds the authority to manage investment product tokens, securely storing newly created tokens during offchain settlements.
- Settlement Engine: Receives finalized instructions from DTA Request Management and executes settlements, including transferring payment tokens, managing tokens, and releasing tokens from escrow.
- Access Control: Maintains a list of approved DTA Request Management contract addresses allowed to send requests, preventing unauthorized interactions.
Interaction patterns
Communication between the (DTA Request Management) and (DTA Request Settlement) is designed for flexibility, supporting both local and cross-chain operations.
- Local Interaction (Same Network): If DTA Request Settlement is on the same blockchain as DTA Request Management, DTA Request Management makes a direct call to deliver settlement instructions.
- Remote Interaction (Cross-Network): If DTA Request Settlement is on a different blockchain, DTA Request Management uses Chainlink CCIP to send settlement instructions, which DTA Request Settlement receives and processes.
This dual-interaction pattern allows the Transfer Agents and Fund Administrators to set up onchain transfer agency services using the DTA Technical Standard.