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# Asset Issuance — Token, NAV & distributions

03 / ASSET ISSUANCE · TOKEN & NAV

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## Token lifecycle

1. **Deploy** — token created on the target chain, bound to a compliance policy.
2. **Distribute** — primary distribution to eligible, verified holders.
3. **Operate** — transfers run through compliance on every chain.
4. **Settle** — NAV updates and distributions over the instrument's life.

## NAV settlement

*NAV update cadence, oracle sourcing, and on-chain settlement mechanics are coming soon.*

## Distributions

*Distribution mechanics — pro-rata calculation, eligibility snapshots, and payout rails — are coming soon.*