Make Your Own Prime Token
You can deploy your own Prime Token on the Rinkeby network using our deployer (what are deployers?)Deploy Your Own Prime Token
Blockwell Prime is a multi-functional ERC20 compatible token. It has many advanced features, but Prime can also be used as just a basic token. You can always take advantage of the features later on.
The token is fully ERC-20 compliant.
# Approve and Transfer From
One aspect of ERC-20 that is not well-known is approvals and transfer from, so here is a short explanation.
Approve lets you give another user permission to use your tokens from your wallet. You give a specific limit on how much they can use, and then they can transfer tokens from your wallet to any wallet. This special transfer is called Transfer From.
For example, I could approve John to spend 100 of my tokens. John can then use Transfer From to send up to 100 tokens from my wallet directly to another wallet of his choosing.
Every time Transfer From is used, the amount is deducted from the total approval. For example, if John transfers 40 tokens from my wallet to Lucy, he could still send another 60 tokens to a different wallet.
Note that John never had any tokens himself, he only acted as a kind of delegate on where the tokens should go.
Prime has Blockwell Quill.
# User Roles
There are four main user roles that can be assigned: Admin, Attorney, Bundler, and Whitelist.
An admin can do most things on the token, with exceptions only with regards to pausing. Specifically, an admin cannot unpause the token if an attorney has paused it, and most features cannot be used when the token is paused. For full details see Pause below.
Admins can be added by other Admins and Attorneys.
An Attorney has basically all the same powers as an Admin, except with regards to pausing. See Pause below for details.
Attorneys can be added by Admins and other Attorneys.
A Bundler is allowed to use the
functions, which lets them distribute tokens.
Bundlers can be added by Admins and Attorneys.
A Whitelisted user is allowed to transfer tokens even if the token is locked. They have no further powers.
Users can be Whitelisted by Admins and Attorneys.
# Bw Admin
There is a special role for a Blockwell Admin account. The only powers the BW Admin has is they can reinstate Admins and Attorneys in case of emergencies where control of the token has been lost due to a security breach or abuse of power. This power circumvents Pause, locks and other controls.
This account will never be used without the consent of the business the token belongs to.
# Token Lock
The token has a lock mechanism that prevents normal users from using their tokens.
The lock is time-based, when the lock expires the token is opened up for general use. The initial time is set when the token is deployed, but it can also be changed by an Admin or an Attorney.
The following functionality is disabled when the token is locked:
transferTransfer of tokens
approveApproving wallets to transfer your
transferFromTransferring from approved wallets
- disabled indirectly because transfer is required for it
There are some exceptions as well:
- An Admin, Attorney, or Whitelisted user is not affected by the lock Multi
- transfer functionality circumvents locks, but is only usable by Bundlers
Individual accounts can be frozen, which prevents them from interacting with the token. Specifically:
- Cannot send or receive tokens by any means, not even multi transfer Cannot
- approve wallets for tokens
Admins and Attorneys can freeze and unfreeze accounts. In addition to using it
on a single account,
multiUnfreeze functions exist for
The whole token can be paused to prevent almost all activity. Pausing can be done by Admins and Attorneys.
- Prevents all token transfers, including multi transfers Prevents changing
- token approvals Prevents Admins and Attorneys from being added and removed If
- the Pause was initiated by an Attorney, an Admin cannot unpause
A few things can still be done:
- Freezing and unfreezing Adding to and removing from Whitelist Adding and
- removing Bundlers Modifying profile and shop data
# Multi Transfer
The token has two functions for making multiple transfers at the same time:
This functionality makes it much faster to distribute tokens, and it saves almost 50% on gas costs compared to individual transfers when sending to more than 5 or so addresses.
Only Bundlers can use these two functions, and both functions ignore the Token Lock. This means it can be used to distribute tokens while it's still locked, but only users added as Bundlers can do it.
multiTransfer transfers tokens directly from the Bundler's token balance, it
is equivalent to using a regular transfer multiple times.
multiTransferFrom transfers tokens from another wallet that the Bundler has
approval for. The Bundler doesn't have the tokens, they're essentially just
directing the tokens to their destination. This is equivalent to using
transferFrom multiple times.
With both of these functions, special logic is used if any of the recipients are
currently Frozen. Since frozen accounts cannot receive tokens, they are skipped.
When this skipping happens, the contract emits an event called
MultiTransferPrevented, so that you can know when it happens. The event
contains the sender, recipient, and the amount of tokens.
# Suggestions and Voting
Prime includes the Suggestions feature.
# Cross-chain swapping
Prime has functions to facilitate swapping tokens across Ethereum chains. The swap relies on an external system to cross the chains, which Blockwell can provide.
A cross-chain swap is initiated using the
swapToChain function that takes
chainThe name of the chain to swap to (eg. "rinkeby").
toThe wallet address on the other chain to swap to.
valueThe amount of tokens to swap.
Prime then does the following:
- First, it generates a unique ID for the swap so that it can be tracked across chains for auditing.
- Takes hold of the tokens the user wants to swap.
- Emits a
SwapToChainevent with the swap's details and the generated ID.
Then, the external system picks up the
SwapToChain event and calls the
equivalent token on the other chain with the function
The Prime contract on the other chain then does the following:
- Transfers the specified wallet tokens from its held supply.
- Emits a
SwapFromChainevent with the swap details and the matching ID generated by the original contract.
# Cross-chain swap auditability
At any point anyone can check to see if all cross-chain swaps were performed
correctly by reading the
SwapToChain events from one chain, and
events from the other. They should all have matching IDs, amounts and addresses.
# Token Distribution
Token distribution happens using the Multi Transfer functionality as described above.
There are two basic scenarios for distribution:
# Primary bundler that needs to distribute tokens
This is when a bundler is working directly with you and they haven't received any tokens.
In this case, two things need to happen to set them up for distribution:
- Their account needs to be added as a Bundler using
- Their account needs to be approved to spend tokens equal to the amount of their
distribution. This is done using
Then bundler can then use
multiTransferFrom to distribute the tokens
directly from your supply to their list of recipients.
The major benefit to this is because the tokens aren't sent to the bundler, an incorrect wallet address or some other issue won't lead to the tokens being lost.
It also reduces the likelihood of the tokens being stolen in case of a hack on the bundler's wallet.
# Bundler who already has tokens
The above process can't be used when the user already has tokens for distribution. This is the case with sub-bundlers who received their tokens from a bundler's distribution. This also applies when you as an admin are distributing tokens directly from the main supply.
In this case, the only thing needed to set up for distribution is the account being added as a Bundler.
The bundler can then use
multiTransfer to distribute the tokens.