A new generation of on-chain assets Abstract A Smart Trustless Asset (STA) is an on-chain financial instrument whose entire economic logic — parameters, accrual, distribution, maturity — is encoded directly within a non-fungible token and executed by immutable smart contracts. STAs are a new generation of on-chain asset. They are not the digitisation of traditional financial products, not tokenised claims on off-chain instruments, and not pointers to external metadata. Conte