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Forward Clips (ERC-1155)
Forward Clips are tokens following the ERC-1155 standard. They reflect the delivery rights to underlying assets. Forward Clips are characterized by the following information on-chain:
- Clip ID
- Project ID
- Supply Partner ID
- Delivery date
The Solid World governance process involves an Expert Council, which has the responsibility to allow supply onto the Protocol based on previous rulings about the Project in question, the acceptance of the Supply Partner as valid (both described in the previous section) as well as the existence of a contract for the specific tokenization event in question.
If acceptance is provided, the Supply Partner is issued Forward Clips based on the submitted agreement. The Supply Partner may then exchange these Forward Clips for the associated Collateralized Basket Tokens through the process outlined in the next chapter.
When the Project achieves issuance and delivery of the associated credits has taken place - the relevant Foward Clips are marked as "deliverable". After this has happened, Market Participants may bring these Forward Clips to the Delivery mechanism in order to receive the underlying credits. The specifics of the Delivery mechanism are defined loosely in these docs, as they are the most subject to change. The Market Participants may opt to receive these credits in different forms (ie on-chain, within an off-chain system, on the original registry, etc) based on what functionality and limitations are in place at the time.