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CoreToken, Comprehensive CBC20 Token Standard Extension

CIP-200 ● Category: CBC ● Tag: DRAFT ● ● 2 min read

CoreToken, Comprehensive CBC20 Token Standard Extension

Abstract​

This CIP proposes the "CoreToken" contract, a multifaceted extension of the BaseToken contract. CoreToken integrates functionalities from WrapperToken, EquivalentToken, ChequableToken, and BountiableToken contracts, offering a robust and versatile token standard. This integration allows CoreToken to encapsulate a wide range of functionalities, including token wrapping, price equivalence, cheque-based transactions, and bounty mechanisms, making it suitable for diverse applications in the Core Blockchain ecosystem.

Motivation​

The need for a comprehensive token standard to meet various requirements within the Core Blockchain ecosystem is what inspired the creation of the CoreToken contract. By integrating multiple functionalities into a single contract, CoreToken offers a versatile solution for projects that require advanced token features such as value stability, enhanced transactional capabilities, and incentivization mechanisms.

Specification​

Key Features​

  • WrapperToken Functionality: Enables wrapping and unwrapping of another CBC20 token.
  • EquivalentToken Functionality: Integrates external price feeds to maintain value equivalence.
  • ChequableToken Functionality: Allows issuing and cashing cheques for controlled token allowances.
  • BountiableToken Functionality: Introduces a system for assigning and executing bounties in tokens.
  • BaseToken Features: Inherits standard CBC20 functions and additional utility functions.

Technical Details​

  • Ylem Version: >0.8.0
  • Constructor: Initializes the token with the required parameters for the inherited functionalities.

Rationale​

Integrating various token functionalities into a single contract, CoreToken, is designed to offer a versatile and comprehensive token standard. This multifunctionality approach addresses the needs of different applications within the Core Blockchain ecosystem, ranging from DeFi to governance and more.

Backward Compatibility​

CoreToken is compatible with the CBC20 standard, ensuring interoperability with existing Core Blockchain-based systems and applications.

Security Considerations​

Given its multifunctionality, the CoreToken contract requires thorough security audits and reviews to ensure the integrity of its various components. Particular attention should be paid to the interactions between different functionalities to mitigate potential vulnerabilities.

Conclusion​

The CoreToken contract presents a unique and advanced approach to CBC20 token standards by combining multiple functionalities into a cohesive contract. This approach can significantly enhance the utility and flexibility of tokens in the Core Blockchain ecosystem, catering to a broad range of applications and use cases.

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