This standard allows for the implementation of a standard API for multi-class fungible tokens (henceforth referred to as “MCFTs”) within smart contracts. This standard provides basic functionality to track and transfer ownership of MCFTs.
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would you provide more info or link?
thanx!
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Sure, here’s the link to the EIP pull request I made:
Here’s the proposal: https://github.com/achon22/EIPs/blob/1ba1372f8911f12d040b638d1ae1d337738fd77f/EIPS/eip-1178.md
Why would you like to implement the Multiclass Use Case like “preferred/common/restricted shares of a company” in one MCFT instead to use a set of independent separate tokens using existing token standards?
@Ethernian Great question.
If one were to use separate tokens to model the different classes, external calls would have to be made. For non-trivial dapps that require maintenance of state in internal variables of the contract, this would result in having to write many getter/setter methods which is cumbersome and expensive to call.
E.g. imagine modeling the conversion of restricted stock in a company to common stock. It would be much easier to write the logic for this if the tokens for these classes were in the same contract.
conversion of restricted stock in a company to common stock
would you please desdribe typical conversion rules?
- Who should be eligible to set conversion rules?
- Who should be eligible to execute conversion of customer’s stock at some time?
- Is it always "all shares in the class "conversion or it may be applied to selected subset of the class owner?
what about exchanges?
- What token interface should an exchange adopt? Is it similar to existing token interface like transfer/allowance or they must implement more aspects?
- What UI iterface and MCFT token description (ticker) should exchange provide to the customers? Is it different from existing one?