EIP-1155 represents a multi-token standard that supports fungible, semi-fungible, and non-fungible tokens within a single smart contract. The distinction is crucial as it allows for both unique and fungible token behaviors within the same contract. By adopting this standard, the Token module provides a flexible solution for varied token use-cases, including those in DeFi, gaming, art, and beyond.
The Token module offers an advanced management solution for the creation, minting, and management of EIP-1155 smart contract tokens within the decentralized ecosystem.
A Token can also be thought of as a token collection and it serves as an umbrella for individual tokens and consists of the following attributes:
- Minter: The primary entity authorized to mint tokens within the collection.
- Name (Namespace): A unique identifier for the token collection.
- Description: A textual overview of the token collection.
- Image: A visual representation or logo for the token collection.
- Cap: The upper limit on the number of unique EIP-1155 tokens that can be minted within the collection.
- Current Supply Count: A real-time count of minted tokens within the collection.
- Retired and Cancelled Tokens List: A registry for tracking tokens that have been retired or canceled.
Upon the creation of a token collection, a corresponding CW1155 smart contract is initiated, with its address stored within the collection for reference.
Every time a token is minted, a TokenProperties object gets created and stored in the on-chain key-value store. This ensures the persistence of crucial token attributes and data, granting transparency and integrity.
Minting starts with the establishment of a token collection, complete with all necessary attributes and an associated CW1155 smart contract.
The primary minter has the authority to delegate minting capabilities to other entities through authz grants, further decentralizing and democratizing the minting process.
Tokens can be minted, transfered and retired in batches, allowing for efficient bulk operations while maintaining the unique attributes of each individual token.
Leveraging the benefits of EIP-1155, tokens within the same namespace (like "CARBON") can have distinct IDs, making them non-fungible. However, tokens sharing an ID remain fungible among themselves. This dual nature offers unparalleled versatility in token operations and value calculations.
Token holders can retire their tokens as a means to "offset their footprint," offering an environmentally-conscious angle to token utility.