Settle
What “Settle” means on EDMA
Settle is the money moment. It’s when a proved event turns into a payment and a fee/burn entry you can file.
Trade: A milestone release—after the Gate PASS and EMT mint—flips the pre-assigned slice from Locked EDSD to Unlocked EDSD and pays the same day.
Tokens: A Buy (or Retire) finalizes ownership (or retirement) and posts the fee; no trade settles without a PoV-valid listing and One-Claim free.
Invariants that never move: No EMT, no funds · One-Claim · Must-fund before shipping · 50% of each protocol fee burns in EDM at settlement/release.
A. Trade — milestone Release
Business flow (what ops feel):
Gate PASS → EMT minted. The dossier (e.g., PSI/COA, BL + seal photo/number, customs EDI, DC receipt + QA) matches the checklist; the EMT for this stage/sub-lot mints.
(Optional) Buyer review window. If configured (0–4h), the buyer can Block with a reason; do nothing → auto-release.
Release (Settle). The slice flips Locked EDSD → Unlocked EDSD and pays immediately. Any funded-on-proof assignments tied to this stage auto-settle.
Receipt & ledger. You get a human-readable receipt and a proof page; the ledger shows the fee line, burn hash, and new Locked/Unlocked balances.
What the contract enforces (deterministic, no shortcuts):
PASS + EMT required: Sequencer ordering cannot force a release.
Must-fund for post-production gates: Without the top-up, status is Pending Funds even if proof is perfect.
Caps: Stage fee = 0.5% of the released amount, capped per tranche (≤ $1M → $5k, $1–5M → $25k, > $5M → $50k).
Burn: Exactly 50% of that stage’s fee burns in EDM at this release (if the fee was prepaid in EDSD/USD, the burn half is converted to EDM now); the treasury half routes to buckets.
Conservation: Locked + Unlocked = funded – refunds (per order), before and after every release.
Schedule completion gating: Off-platform cash-out remains disabled until the seller’s schedule completes.
Failure / pause states you may see (clear reasons, easy fixes):
E_PENDING_FUNDS: Top-up missing; fund, then release.
E_SEAL_MISMATCH / E_LOT_LIST_MISMATCH / E_TEMP_OUT_OF_RANGE: Fix the file or re-inspect.
Revocation after an earlier pass: Downstream slices freeze; append corrective evidence and resume.
Dispute: Variance math applies; partial pay or replacement; release posts the adjusted amount with a reason.
Fees & extras at release (what posts when money moves):
Protocol fee: 0.5% per milestone (caps above) — pre-paid at award; consumed here.
Burn: 50% of the stage’s fee in EDM (burn tx hash on the receipt & proof page).
Seller assignment fee: 1% only if a funded-on-proof assignment settles at this release (operational fee; not burned).
Cash-out fee: 0.5% applies later, only when the seller withdraws off-platform after schedule completion.
API & webhooks (what your systems call/watch):
POST /v1/trade/release/{order}/{stage}: Flips funds, records fee, emits burn hash.
Webhooks: trade.milestone.passed → trade.release.posted · fee.burn.posted · trade.slice.frozen/unfrozen (if paused).
B. Tokens — Settlement (Buy) and Retirement
Business flow:
PoV-valid listing with One-Claim free.
Buy (or Retire) settles in EDSD; ownership changes (or the unit becomes permanently retired).
Fee posts and burn happens now; receipt + proof pack are issued.
What the contract enforces:
PoV badge and One-Claim check: Before any settlement; frozen listings refuse to settle.
Fee: 4% total per settlement (default 2% buyer + 2% seller).
Burn: 50% of that fee burns in EDM at settlement (burn hash on the receipt).
Retire: Irreversible; retirement receipt/URI added to the proof page.
API & webhooks:
POST /v1/tokens/settle · POST /v1/tokens/retire: Settle or retire a token.
Webhooks: tokens.settlement.posted · tokens.retirement.proofpack.ready · fee.burn.posted
C. Atomicity & idempotency
Settlement is all-or-nothing in a single transaction:
Gate PASS (and EMT mint for Trade)
One-Claim finalize
Funds flip (Locked → Unlocked) or ownership/retirement finalize
Fee line posted, 50% burn executed in EDM
Receipt emitted with proof/burn links
Replays with the same (order, stage, sublot) or settlement_id become no-ops. There is no cross-block hold that could leak value.
D. Operator checklist
Fund before you ship: Expect E_PENDING_FUNDS otherwise.
Submit complete evidence: Same PoV hash across roles; review windows are for true mistakes, not routine vetos.
For partials/variance: Let the platform compute; the math is the MPA’s, not email’s.
Watch receipts: Fee line, burn hash, and new Locked/Unlocked totals should reconcile automatically to the ledger.
Don’t plan off-platform cash-out: Until the schedule completes; use Unlocked EDSD to pay EDMA invoices in the meantime.
E. One-glance matrix
Settle for…
Trigger
Moves cash?
Protocol fee
Burn (EDM)
Cash-out
Trade (Release)
EMT minted + (optional) review window cleared
Yes (Locked → Unlocked EDSD)
0.5%/milestone, capped per tranche
50% at release
Enabled after schedule completes (0.5% fee)
Tokens (Buy)
PoV-valid listing + One-Claim free
N/A (ownership changes)
4% total (2/2 default)
50% at settlement
N/A
Tokens (Retire)
PoV-valid listing + One-Claim free
N/A (asset retired)
4% total
50% at retirement
N/A
Plain recap
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