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# Issuers — Journey

06 / ISSUERS · JOURNEY

1. **Define policy** — eligibility and transfer rules (Compliance).
2. **Deploy** — issue the token bound to the policy (Asset Issuance).
3. **Distribute** — primary distribution to eligible holders.
4. **Administer** — NAV updates, distributions, and fees over the instrument's life.

*An annotated issuer journey is coming soon.*