Skip to content

Latest commit

 

History

History
58 lines (33 loc) · 2.65 KB

zrc-5.md

File metadata and controls

58 lines (33 loc) · 2.65 KB
ZRC Title Status Type Author Created (yyyy-mm-dd) Updated (yyyy-mm-dd)
5 Convention for Deposit of ZIL Implemented Standard Jun Hao Tan [email protected] 2020-06-25 2021-11-12

I. What is ZIL?

ZIL is the native token for Zilliqa blockchain. One can store ZIL inside any Zilliqa address, including smart contract address.

II. Abstract

ZRC-5 defines a convention for an interface that a smart contract should implement should it decide to accept ZIL.

III. Motivation

For a smart contract to accept incoming ZIL, it needs to do so explicitly using the accept statement. As such, any transition that does not have the accept statement will not be able to accept any incoming ZIL transfer.

However, there is currently no naming convention for transitions that can accept ZIL. As a result, cryptocurrency exchanges or cryptocurrency wallet providers do not know which _tag to set, should they wish to transfer ZIL to a contract address.

By having a naming convention for transitions that can accept ZIL, one can easily transfer ZIL to a contract that follows this convention, thereby improving composability.

IV. Specification

The deposit of ZIL specification describes:

  1. the naming convention of the transition
  2. mandatory instruction in the transition

A. Naming of transition

For a contract that wishes to conditionally or unconditionally accept ZIL, it should implement a transition named AddFunds that does not take any parameters.

B. Mandatory instruction

Within the AddFunds transition, there should be an accept instruction.

C. Conditional acceptance of ZIL

Smart contract developers are free to introduce any programmatic logic to conditionally accept ZIL in AddFunds transition. Smart contract developers can also use accept instruction in other transitions, however, such transitions may reduce composability of the smart contract.

D. Sample implementation

This is a sample implementation of AddFunds transition that unconditionally accepts ZIL.

transition AddFunds ()
  accept
end

V. Existing Implementation(s)

To test the reference contract, simply go to the example/zrc4 folder and run node add_funds.js.

VI. Copyright

Copyright and related rights waived via CC0.