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Smart Tokens

Smart Tokens are an integral part of the Mchain ecosystem, offering a versatile and flexible means of token creation and management. This guide provides an overview of Smart Tokens and their functionalities on the Mchain Hub.

Testnet URL: https://testnet.hub.mchain.network/mchain/smarttoken

Understanding Smart Tokens​

A Smart Token on Mchain is a custom token with various features and configurations. It can represent anything from a digital asset to a utility or governance token within the Mchain ecosystem.

Key Features of Smart Tokens​

  • Name: The full name of the Smart Token, such as "Burger Points."
  • Symbol: A shorthand identifier for the Smart Token, typically 1 to 6 characters long, like "BTC" for Bitcoin.
  • Token Features: Smart Tokens come with configurable features:
    • Minting: Allows additional creation of coins, increasing the total supply. Once set, this feature can be disabled but not reactivated.
    • Burning: Enables users to destroy coins, reducing the supply. Includes an option to send coins to a specific burn address.
    • Sending: Activates the transferability of tokens among users. If disabled, only the token owner or minter can perform transfers.
    • Free Send: Allows the return of tokens to the owner or minter without incurring transaction costs, borne by the recipient.
    • Whitelist: Enables a list of authorized users to receive the token.
    • Freezing: Allows global freezing of transfers and the creation of a list of frozen addresses, restricting token transfers.

Token Economics​

  • Decimals Configuration: Sets the number of decimals for the Smart Token, defaulting to 6. Tokens without decimals are set to 0.
  • Subunit Configuration: Defines the symbol of the smallest denomination of the token, typically the main symbol preceded by "u". In tokens without decimals, it may match the main symbol.

Token Management​

  • Maximum Supply Configuration: Sets a limit on the number of coins that can be created, establishing a cap on the total supply.
  • Initial Supply Configuration: Allows the initial minting of coins when issuing the token. If minting is active, this value can be zero, allowing for future minting.

Token Rates​

  • Send Burn Rate: Percentage of tokens sent to be "burned" or removed from circulation.
  • Send Commission Rate: Percentage of tokens sent as a commission to the token creator or a designated account.
  • Send Stake Rate: Percentage of tokens sent to reward the block validator and their stakers.
  • Send Community Rate: Percentage of tokens sent to the "community pool" for supporting the community and project development.

Additional Information​

  • Smart Token Details: View details like the current supply, max supply, authority, minter, and metadata.
  • Token Holders: Check the list of token holders and their respective quantities and percentages.
  • Total Burned: See the total amount of tokens burned.
  • URI: Set or update the URI for specific Smart Tokens.
  • Issue Fee: The cost associated with issuing the Smart Token, aimed at rewarding validators and stakers.

Smart Tokens on Mchain offer a robust and customizable approach to token creation and management, catering to a wide range of use cases in the blockchain space.