Fungible Token Framework

The fungible token framework uses the extended ERC-20 standard that is supported by Blockchain App Builder.

Fungible tokens are digital assets that are interchangeable and uniform in value. Blockchain App Builder extends the ERC-20 specification to support all phases of the fungible token life cycle including creation, development, management, and maintenance.

For more information about the generic ERC-20 methods, see Digital Assets APIs.

Example use cases:
Digital Currencies
Issuing digital representations of fiat currencies such as central bank digital currency (CBDC), stablecoins, or deposit tokens for efficient transactions in a blockchain network.
Loyalty Programs
Creating reward points that can be earned and redeemed by customers, enhancing customer engagement.
Micro-Payments
Enabling small-value transactions for blockchain transactions, marketplace services, Internet of Things (IoT) systems, or content monetization platforms.

Blockchain App Builder supports the following functions.

  • Fractional units: Divide tokens into smaller units, allowing for precise value representation.
  • Multiple fungible tokens: Create multiple fungible token types in a single smart contract (for example, multiple currencies or rewards points).
  • Minting and burning: Control the token supply in circulation by creating (minting) and removing (burning) tokens.
  • Account management: Manage account statuses, including activation, suspension, and deletion, to ensure compliance and security. One user can have multiple token accounts based on the various token types.
  • Compliance controls: Enforce account-level daily limits and run auditing procedures to adhere to regulatory requirements.
  • Transfer: Move a specified amount of fungible tokens between accounts.
  • Notary accounts: Require an additional approval step during minting, burning and transfer operations, adding an extra layer of authorization to implement the maker-checker principle.
  • Exchange pools: Exchange different types of tokens or assets atomically using liquidity pools in the blockchain network.
  • Role operations: Assign and enforce roles such as minter, burner, notary, auditor, and organization auditor to provide specific privileges to any user account.

Oracle Blockchain Platform Enterprise Edition includes a contract package and a wrapper API package for the fungible token scenario. The contract package includes a loyalty token sample, which illustrates use of the framework. The wrapper API package extends the RPC proxy API to support operations specific to the loyalty token scenario.