Encumbrances
An encumbrance locks some units of a position for a beneficiary without moving them. The holder keeps the units (and, unless routed, their income); they just cannot be transferred while locked. Two encumbrances never share units, and nothing can attach to units already locked.
| Kind | Created by | Released by |
|---|---|---|
| PLEDGE | the holder, for a beneficiary | the beneficiary at any time; the holder after holder-release-after (never if unset) |
| LIEN | the asset’s operator (if the issuer allows liens), with an evidence hash | the beneficiary or the operator at any time |
| LOCKUP | the issuer, at issuance (--lockup-until) | the holder after the lockup date; the issuer at any time (waiver) |
- Exercise. If the pledge or lien is
exercisable, the beneficiary can take some or all of the units. That is a transfer from the holder, so the beneficiary must pass the kind’s policy. - Expiry. An optional expiry returns the units to the holder.
- Income to the beneficiary. A pledge created with
--income-to-beneficiaryroutes the pledged units’ income to the beneficiary for the life of the pledge (see Income). Liens never route income. - No policy is checked at creation; eligibility is checked when units move.
Messages
MsgPledge, MsgLien, MsgRelease, MsgExercise, and MsgIssue with
lockup_until — Reference → Messages.
CLI
aevad tx encumbrance pledge <asset-id> 0 100 <beneficiary> --exercisable --from holder
aevad tx encumbrance release <id> --from beneficiary
aevad tx encumbrance exercise <id> 40 --from beneficiary
aevad query encumbrance by-holder <holder>On the explorer
/encumbrances/<id> — kind, units, parties, dates and the transactions.
/address/<addr> → Encumbrances lists what an account has pledged and
what it is the beneficiary of.
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