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Configurable Features of Smart Tokens

Thanks to their programmable nature, Mchain's Smart Tokens offer a flexible framework for various applications. These features enable the creation of customized tokens for various needs, fostering innovation and engagement in the circular economy. Here's a breakdown of their key configurable features:

Token Issuance​

  • Name Definition: Full name of the Smart Token.
    • Example: Burger Points
  • Symbol Definition: Unique abbreviation for the Smart Token, 1-6 characters.
    • Example: BTC
  • Subunit Configuration: Symbol for the smallest denomination, usually "u" followed by the main symbol. For non-decimal tokens, it matches the main symbol.

Token Characteristics​

  • Minting: Allows creation of additional coins, increasing total supply. Irreversible once deactivated.
  • Burning: Enables users to destroy coins, reducing total supply. Includes a specific burn address option. Irreversible once deactivated.

Token Transfer​

  • Sending: Activates transferability of tokens. Irreversible once disabled.
  • Free Sending: Returns tokens to the owner or minter without transaction costs.
  • Whitelisting: Restricts token reception to authorized users. Irreversible.
  • Freezing: Freezes global transfers and creates a list of frozen addresses.

Token Rates​

Configurable percentages applied to each transaction:

  • Send Burn Rate: Percentage of tokens to be burned, removing them from circulation.
  • Send Commission Rate: Percentage of tokens as a commission to the token creator or a designated account.
  • Send Stake Rate: Percentage of tokens rewarded to the block validator and their stakers.
  • Send Community Rate: Percentage of tokens contributed to the community pool for project support and development.

Supply Settings​

  • Maximum Supply: Caps the total possible coin creation.
  • Initial Supply: Amount of coins minted upon token issuance. Future minting possible if enabled.
  • Decimal Configuration: Number of decimals for the token, defaulting to 6. Set to 0 for non-decimal or point-based tokens.

Governance-Configurable Parameters​

Smart Tokens include parameters configurable through blockchain governance, enhancing adaptability and responsiveness to the community's needs:

  • Issue Fee: A cost associated with the issuance of a Smart Token, aimed to incentivize validators and stakers.
  • Mint Fee: A fee paid by the issuer or minter when creating a Smart Token, contributing to the Emission Rate.