UseCases_tokens_Create Management Tokens.md

Use Cases, Scenario’s, Walkthroughts - for tokens

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Case "Create management tokens"

Scenario: Create and distribute the XDM token according to the IEO

Feature: Create the Management Tokens which enable regular token operations

Actor: The Token Management Key owner

Summary:

Before regular token operation is enabled, the following Management Tokens must be available:

• The Magic token group, which will replace the Token Management Key
• The DarkMatter token group, which users will need to spend as a fee
• The Atom token group, because Atom token owners will receive part of the DarkMatter fees

The creator of these three token groups:

• performs a token management creation transaction to create the respective token groups, which gives him token authorities for the three token groups.
• mints 1000 MAGIC, 71.000 XDM and 100.000 ATOM

The three token groups have a ticker name, a full name and a website. Currently, the wallet only displays token group names when all fields are correctly specified:

1. Ticker name (max 8 characters, only letters)
2. Token name (max 32 characters, only letters)
3. Decimal position (between 0 and 16)
4. Token description document URL (max 79 characters, valid URL)
5. Document hash (256 bit hexadecimal string, can be 0)

Preconditions:

• The network (Mainnet, Testnet or Regtest) should be past the TokenStart block height
• The actor has access to funds at the Token Management Key
• The Magic token group, DarkMatter token group and Atom token group are not yet created

Steps:

ION (and other coins in the Bitcoin family) natively support coin amounts with 18 decimals (10 before and 8 after the decimal separator). ION tokens support a variable decimal position (determined at token group creation), but the restriction of 18 decimals remain.

• The Magic token group is defined with 4 decimals in the fractional part
• There is a maximum of 71.000 DarkMatter: 5 decimals in the integer part and 13 decimals in the fractional part
• The Atom token group is atomic, so 0 decimals in the fractional part

The command to create a management token group is: managementtoken new [TICKER] [NAME] [DECIMALPOS] [URL] [DOCUMENTHASH]

(This command spends ION from the Token Management Address to proof it has access to the Token Management Key. The ION is spent to a change address, so if you run out of ION at this address (Input tx is not available for spending), you need to send additional ION to the Token Management Address.)

Next, you need to mint the actual management tokens.

We'll send the tokens and the token authorities to a locally generated new address. Note that the tokens and token authorities can be sent to any address when they are minted. You'll need to use the groupIdentifier returned by the managementtoken new command or the tokeninfo list command (e.g., ionrt1z0ujxl2dxswjh5yeykqmm9qzzq8p6xfxrjfd0xfz0e4yt29wtnesccvnfup), and you'll need a recipient ION address (the output of the getnewaddress command, e.g. gGnF2fuGxLQcBwDnxm44gr6uEEJ3XcRUbZ) to mint the tokens.

Enter the following commands on regtest:

$ configuremanagementtoken MAGIC MagicToken 4 https://github.com/ioncoincore/ATP-descriptions/blob/master/ION-testnet-MAGIC.json 4f92d91db24bb0b8ca24a2ec86c4b012ccdc4b2e9d659c2079f5cc358413a765 true
{
  "groupIdentifier": "ionrt1zw655y77hx0l6m95em7ekcqm78v9v72s04yrsksup43haq0crvtqc9jyfpt",
  "transaction": "fd80ec76be10825eac045fa7999621b44e1e34f7879ffcf55c1b444dd3c77068"
}

$ generate 1
[
  "678d54d4995f162d7003d11f829a7fdbf640cf74d0f65e8f913f1b09ba7bb364"
]

$ getnewaddress
gFBsCcQQvvYJ6BQUmTZzLLfS9AaeLNqZhz

# Mint 500 Magic tokens
$ minttoken ionrt1zw655y77hx0l6m95em7ekcqm78v9v72s04yrsksup43haq0crvtqc9jyfpt gFBsCcQQvvYJ6BQUmTZzLLfS9AaeLNqZhz 5000
0aa5dbf903187783d4fb4d970796f1b3697b938e1474a3bbaddea7c57e3d4227

# Generate a new regtest block
$ generate 1
[
  "8a165888a27e3d2b2be8813f23afb27bd83bcac059685fd674b481e6a54c85d8"
]

Next, create and mint DarkMatter and Atoms

$ configuremanagementtoken XDM DarkMatter 13 https://github.com/ioncoincore/ATP-descriptions/blob/master/ION-testnet-XDM.json f5125a90bde180ef073ce1109376d977f5cbddb5582643c81424cc6cc842babd true
{
  "groupIdentifier": "ionrt1z08suycj85usle25z7c8fy0pvqg82759dkant22edca55z5c8q0qc3czz0g",
  "transaction": "43fb5d0a4c7cdf2f1993bdfcf2d964ee00a44b8e7fd3ffab6b9aa7abf4693109"
}

$ configuremanagementtoken ATOM Atom 0 https://github.com/ioncoincore/ATP-descriptions/blob/master/ION-testnet-ATOM.json b0425ee4ba234099970c53c28288da749e2a1afc0f49856f4cab82b37f72f6a5 true
{
  "groupIdentifier": "ionrt1z0etg43nh9g7h6p6st89vexuzcz967jy856xtzathunhpz0wn7ascea3s6c",
  "transaction": "b9f55a3485c6ce4261689f0f29ebd46d4dfab56b9e252659cbffe0c4f364e057"
}

$ generate 1
[
  "78a10149e2666a65bf71ce47a1a5dddb26a8abb2d303205a7ac299a8b119e3e3"
]

Verify that the token groups indeed have been created:

$ tokeninfo all
[
  {
    "groupIdentifier": "ionrt1zudc0feh",
    "txid": "0000000000000000000000000000000000000000000000000000000000000000",
    "ticker": "ION",
    "name": "Ion",
    "decimalPos": 8,
    "URL": "https://www.ionomy.com",
    "documentHash": "0000000000000000000000000000000000000000000000000000000000000000"
  },
  {
    "groupIdentifier": "ionrt1zw655y77hx0l6m95em7ekcqm78v9v72s04yrsksup43haq0crvtqc9jyfpt",
    "txid": "fd80ec76be10825eac045fa7999621b44e1e34f7879ffcf55c1b444dd3c77068",
    "ticker": "MAGIC",
    "name": "MagicToken",
    "decimalPos": 4,
    "URL": "https://github.com/ioncoincore/ATP-descriptions/blob/master/ION-testnet-MAGIC.json",
    "documentHash": "4f92d91db24bb0b8ca24a2ec86c4b012ccdc4b2e9d659c2079f5cc358413a765"
  },
  {
    "groupIdentifier": "ionrt1z08suycj85usle25z7c8fy0pvqg82759dkant22edca55z5c8q0qc3czz0g",
    "txid": "43fb5d0a4c7cdf2f1993bdfcf2d964ee00a44b8e7fd3ffab6b9aa7abf4693109",
    "ticker": "XDM",
    "name": "DarkMatter",
    "decimalPos": 13,
    "URL": "https://github.com/ioncoincore/ATP-descriptions/blob/master/ION-testnet-XDM.json",
    "documentHash": "f5125a90bde180ef073ce1109376d977f5cbddb5582643c81424cc6cc842babd"
  },
  {
    "groupIdentifier": "ionrt1z0etg43nh9g7h6p6st89vexuzcz967jy856xtzathunhpz0wn7ascea3s6c",
    "txid": "b9f55a3485c6ce4261689f0f29ebd46d4dfab56b9e252659cbffe0c4f364e057",
    "ticker": "ATOM",
    "name": "Atom",
    "decimalPos": 0,
    "URL": "https://github.com/ioncoincore/ATP-descriptions/blob/master/ION-testnet-ATOM.json",
    "documentHash": "b0425ee4ba234099970c53c28288da749e2a1afc0f49856f4cab82b37f72f6a5"
  }
]

(You'll see that the native token ION has been added too.)

And finally, mint DarkMatter and Atom tokens.

# Mint 71.000 DarkMatter tokens
$ minttoken ionrt1z08suycj85usle25z7c8fy0pvqg82759dkant22edca55z5c8q0qc3czz0g gFBsCcQQvvYJ6BQUmTZzLLfS9AaeLNqZhz 71000
bf2abcd5cc6fa7f7f43f25ff5a5b26a401fe66d2cf753406186e751f15529cb1

# Mint 100.000 Atom tokens
$ minttoken ionrt1z0etg43nh9g7h6p6st89vexuzcz967jy856xtzathunhpz0wn7ascea3s6c gFBsCcQQvvYJ6BQUmTZzLLfS9AaeLNqZhz 100000
0fbd901254cd61eeb6241795ae6ce0f120bb3119a77f0b61d87dfaa4ddbf9772

# Generate a new regtest block
$ generate 1
[
  "27e4fe2b378cbd43e1c184a7a21dd8bca62133f0ee658ee8d0a6fa5d167d7336"
]

Verify that the correct amount of tokens have been created using the token balance command. See the case Find token authorities for more detailed information on this command.

Postconditions:

• The Magic (MAGIC) token group is created
• The DarkMatter (XDM) token group is created
• The Atom (ATOM) token group is created
• 5000 MAGIC are minted
• 71.000 XDM are minted
• 100.000 ATOM are minted
• The above token amounts have been verified

Related use cases:

• Case "Access Management Tokens
• Case "Drop mint capability"
• Case "Send tokens"
• Case "Token balance"
• Case "View information related to a token group"
• Case "Find token authorities"
• Case "Create a list with addresses that receive masternode payouts and the related MN's uptime"