🔄Swap and SwapsRepo
Last updated
Last updated
Swap object is a special transaction object designed by the system to ensure the effective fulfillment of special options agreed by the shareholders agreement, such as compulsory purchase option and compulsory sell option.
When exercising the compulsory purchase option, the right holder can directly lock the "underlying shares" through the swap contract, so that without the cooperation of the obligor, it can directly trigger the specific API to change the registration of the underlying shares in its own name. In the case of exercising a compulsory sell option, the right holder can set the specific shares held by the obligor as "pledged shares" through the swap contract, so that when the obligor does not pay the consideration, the right holder can trigger the specific API to change the registration of the pledged shares in its own name, and use the value of the pledged shares to make up for the possible profit in the case of a normal exercise of the compulsory sell option.
In the system, only the shares booked in the share register can be used as security for performance, so the system has designed a swap contract in order to ensure that the compulsory purchase option and compulsory sell option can logically close the loop of the transaction during the performance process, while the pricing and quantity of the specific pledged shares can be automatically calculated according to option terms as agreed in the shareholders agreement.
The members of the Swaps Repo include swap objects and the swap mapping which adopts the structure of "Swap Number -> Swap Object".
seqOfSwap
Number of swap transaction.
seqOfPledge
Number of Pledged Shares.
paidOfPledge
The amount of pledged paid-in contribution.
seqOfTarget
Number of underlying shares.
paidOfTarget
The amount of paid-in contribution of the underlying shares.
priceOfDeal
Consideration of deal.
isPutOpt
Whether the transaction is a compulsory sell.
state
The state of the swap transaction.
The Query API well describes the functions and uses of the Swaps Repo in the whole system, see the table below.
counterOfSwaps
Get the current value of the Swap Transaction Counter.
sumPaidOfTarget
Get the total amount of paid-in contribution for the underlying share.
isSwap
Query whether a swap transaction with a specific number exists.
getSwap
Get the swap transaction object with a specific number.
checkValueOfSwap
Query the total value of the consideration for a particular numbered swap transaction at a specific fiat currency price.
getAllSwaps
Get a list of all swap objects
allSwapsClosed
Query whether all swap transaction have been closed.
