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About DAML finance library, I have found some docs.

But I still can not understand what's the key usage of this library, and what is the difference/benefits between "normal" smart contract and using Finlib of digital asset creation/transfer/redeem?

halfer
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natureoo
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  • the docs which can reference;[1]: https://github.com/digital-asset/lib-finance [2]: https://medium.com/daml-masterclass/the-finance-library-part-1-2f94ed07c349 [3]: https://medium.com/daml-masterclass/the-finance-library-part-2-f8123e99d5bd – natureoo Oct 12 '21 at 11:35

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The FinLib contains an asset model that can be used as a common representation for assets across different use cases / applications. The benefit of using a shared model is that your applications become inherently interoperable. For example, let's say you have an issuance app and a trading app. If both use the same asset model, the assets issued from one app can be used as is for trading in the other app, without any need for translation.

The FinLib library provides a ready implementation of the most important aspects of an asset model:

  • How asset ownership is represented
  • How accounts are represented
  • How signatories are defined for your assets
  • How to split and merge fungible assets
  • How to transfer ownership of assets
  • How to do atomic swaps and settlement

The library doesn't actually prescribe how you represent the definition of what a particular asset actually is, or what the rules and workflows around it are. An asset in this model is represented by an abstract identifier (the asset id), which you can use to link it to a description or to workflows. This type of loose coupling allows for the dynamic evolution of facts and rules around your assets, without having to touch the contracts representing the ownership.

GeorgS
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