Issuer

Entity that receives asset deposits from Swarm Markets into a designated deposit account and authorizes token minting based on the value of assets held in custody. The Issuer ensures appropriate custody arrangements, reviews and approves redemptions, and holds administrative control of the contract while in the initial Active state.

Guardian

Entity or individual empowered to assume administrative control of the contract when it enters the Safeguard state (e.g., if token holders lose trust or risk controls are triggered).

Agent

Swarm Markets, or another entity authorized by the Issuer, that custodies an asset and mints a tokenized representation for trading within Swarm Markets. Agents are responsible for ensuring all token holders meet compliance requirements (typically through KYC/identity verification).