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GroupCurrencyTokenReadme.md

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Group Currency Token Smart Contract

A group currency would define a number of individual Circles tokens directly or transitively (all accounts trusted by account X) as members. All of those members Circles could be used to mint the group currency.

Note: The GroupCurrencyToken contract is WIP, non-tested, non-audited and not ready for Mainnet/production usage!

See https://aboutcircles.com/t/suggestion-for-group-currencies/410 for further details.

Call Flows for mint and mintDelegate

mint

flow

memberMint

flow

delegateMint

flow

Tech Walk-Through

Ganache

The initial drafts uses manual steps to setup, deploy and test the GroupCurrencyToken smart contract.

  • Clone circles-contract-group-currency fork: git clone git@github.com:ice09/circles-contracts.git
  • Switch to branch hub-v1-comp
  • Open contracts in Remix-IDE at https://remix.ethereum.org/ with remixd: remixd -s $(pwd) -u https://remix.ethereum.org
  • Start Ganache with mnemonic test test test test test test test test test test test junk
  • Deploy Hub.sol with params "1","1","CRC","Circles","50000000000000000000","1","1" in Environment Ganache Provider -> 0x5FbDB2315678afecb367f032d93F642f64180aa3
  • Deploy GroupCurrencyTokenFactory.sol and call createGroupCurrencyToken OR
  • Deploy GroupCurrencyToken.sol with params "0x5FbDB2315678afecb367f032d93F642f64180aa3","0x0000000000000000000000000000000000000001", "0xf39Fd6e51aad88F6F4ce6aB8827279cffFb92266", 1, "GCT", "GCT" -> 0xe7f1725E7734CE288F8367e1Bb143E90bb3F0512
    • This will also call organizationSignup on Hub.
  • Call signup on Hub contract with Ganache Account 1 0x70997970C51812dc3A010C7d01b50e0d17dc79C8 (Alice Signup)
    • This will deploy an individual Circles-Token from the Hub contract with Token address 0xa16E02E87b7454126E5E10d957A927A7F5B5d2be
  • Call addMemberToken on GCT at 0xe7f1725E7734CE288F8367e1Bb143E90bb3F0512 with parameter 0xa16E02E87b7454126E5E10d957A927A7F5B5d2be
  • Load Token.sol at 0xa16E02E87b7454126E5E10d957A927A7F5B5d2be
    • This is the Circles-Token which will be used as Collateral Token
  • Transfer with Ganache Account 1 "1000" Tokens to GCT Address 0xe7f1725E7734CE288F8367e1Bb143E90bb3F0512

mint

  • [GroupCurrencyToken] mint(0xa16E02E87b7454126E5E10d957A927A7F5B5d2be,1000) with any Remix Account (Note: unrestricted access! Anybody can mint!)

Remix VM (London)

The initial drafts uses manual steps to setup, deploy and test the GroupCurrencyToken smart contract.

  • Clone circles-contract-group-currency fork: git clone git@github.com:ice09/circles-contracts.git
  • Switch to branch hub-v1-comp
  • Open contracts in Remix-IDE at https://remix.ethereum.org/ with remixd: remixd -s $(pwd) -u https://remix.ethereum.org
  • Deploy Hub.sol with params "1","1","CRC","Circles","50000000000000000000","1","1" in Environment JavaScript VM (London)
  • Deploy GroupCurrencyTokenFactory.sol and call createGroupCurrencyToken OR
  • Deploy GroupCurrencyToken.sol with params "0xd9145CCE52D386f254917e481eB44e9943F39138","0x0000000000000000000000000000000000000001", "0x5B38Da6a701c568545dCfcB03FcB875f56beddC4", 1, "GCT", "GCT"
    • This will also call organizationSignup on Hub.
  • Call signup on Hub contract with Remix Account 1 0xAb8483F64d9C6d1EcF9b849Ae677dD3315835cb2 (Alice Signup)
    • This will deploy an individual Circles-Token from the Hub contract with Token address 0x5C9eb5D6a6C2c1B3EFc52255C0b356f116f6f66D
  • Call addMemberToken at ... with parameter ... (TODO: lookup addresses for GCT and Token)
  • Load Token.sol at 0x5C9eb5D6a6C2c1B3EFc52255C0b356f116f6f66D
    • This is the Circles-Token which will be used as Collateral Token
  • Transfer with Remix Account 1 "1000" Tokens to GCT Address 0xd8b934580fcE35a11B58C6D73aDeE468a2833fa8

mint

  • [GroupCurrencyToken] mint(0x5C9eb5D6a6C2c1B3EFc52255C0b356f116f6f66D,1000) with any Remix Account (Note: unrestricted access! Anybody can mint!)

memberMint

  • [CollateralToken] approve GroupCurrencyToken address (eg. amount 10000000000000000000)
  • [GroupCurrencyToken] addMember for Collateral Token address
  • [GroupCurrencyToken] mint 10000000000000000000 for Collateral token

delegateMint

  • [CollateralToken] approve GroupCurrencyToken address (eg. amount 10000000000000000000)
  • [Hub] signup with second account
  • [Hub] trust with second account: firstAccountAddress, 100
  • [GroupCurrencyToken] addDelegateTrustee with first account: secondAccountAddress
  • [GroupCurrencyToken] mintDelegate with first account: secondAccountAddress, CollateralToken, 10000