Wallet

#How It Works

A default wallet is created with its Node and cannot be deleted while the Node exists; it is the fallback destination for inbound revenue not directed elsewhere. An offering wallet is created and removed with its Offering's lifecycle and always belongs to exactly one Offering. Wallets are not provisioned freely; they arrive as part of the creation cascade of their owner.

Value never moves by editing a wallet balance. It moves by recording a Ledger Event, and every wallet balance is the running result of the events that reference it. "Named wallet" remains part of the vocabulary for forward compatibility but is not part of the settled operational surface; "product wallet" is a historical synonym for offering wallet.

#Statements

These statements fix the wallet vocabulary and the kinds of wallet the standard recognizes.

Definition and ownership

• A Wallet scopes value movement.
• A Wallet belongs to a Node or an Offering.
• A default wallet belongs to a Node.
• An offering wallet belongs to an Offering.

Balance and vocabulary

• Wallet balance derives from Ledger Events.
• Named wallet is forward-compatible vocabulary.

#Operations

Wallet operations stand up the value-movement scope a Node or Offering carries, and move value through it. Wallets are provisioned as cascades of node and offering creation rather than as standalone acts. Value never moves by editing a wallet balance directly; it moves by recording a Ledger Event, keeping the distinction between financial facts and the balances derived from them intact.

Provision Default Wallet creates the single default wallet a Node carries, and Provision Offering Wallet creates the one wallet tied to an Offering; both arrive with their parent object rather than as standalone operations. Record Wallet Movement records a Ledger Event, keeping balances derived rather than directly written.

Provision Default Wallet

• Provision Default Wallet creates the default wallet for a Node.

Provision Offering Wallet

• Provision Offering Wallet creates the offering wallet for an Offering.

Record Wallet Movement

• Record Wallet Movement records a Ledger Event.

#Financial View

A Wallet's balance is a derived view over its event history, not a stored field. Every movement enters as a Ledger Event, and the balance is the running result of the events that reference the wallet. Corrections happen by recording a compensating Ledger Event — the prior fact is preserved and the balance recomputes from the full history. See Source Truth for the source-of-truth contract behind every derived financial view.

#Why It Matters

Wallets give value movement a place to land and a place to come from without making balances an editable source of truth. Because a balance is always derived from Ledger Events, the financial history stays authoritative and auditable: any wallet's balance can be rebuilt from the events alone. The settled wallet surface stays deliberately minimal — a default wallet per Node and an offering wallet per Offering — so it remains easy to reason about.

#Related

• Node — owner of the default wallet.
• Offering — owner of the offering wallet.
• Ledger Event — the append-only facts a wallet balance derives from.
• Cap Table — the ownership surface a Node also carries from creation.
• Contract — agreements that generate the Ledger Events feeding wallets.
• Source Truth — why balances and every other financial view are derivations from the Ledger Event stream.