SCL Token Standard

SCL Token Standard

SCL Token Standard as the name implies, is a token standard written in SCL that allows projects that build on SCL to quickly mint and deploy their tokens.

The SCL Token Standard is the first deployable token standard compatible with the Bitcoin blockchain that utilises a familiar smart contract framework to create tokens. This provides SCL tokens substantially more development capability and features when compared to other token standards, like BRC-20, which is based on Ordinal inscriptions and thus limited to basic mint and transfer functions.

Tokens created using the SCL Token Standard also do not "pollute" the Bitcoin blockchain with additional block capacity demands, strain on the mempool, and higher fees such as in the case of the BRC-20 token standard.

An example of a basic token creation contract is provided below:

Contract state after initial deployment:

{
    "ticker": "DFG",
    "contractid": "4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360",
    "supply": 100000000000000000,
    "decimals": 8,
    "owners": {
        "4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360:1": 100000000000000000
    },
    "payloads": [
        "<4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360,{SCL01:[DFG, 100000000000000000,TXID:1]}>"
    ]
}

Contract after several state changes:

{
    "ticker": "DFG",
    "contractid": "4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360",
    "supply": 100000000000000000,
    "decimals": 8,
    "owners": {
        "f9b87b2907b55afe7d104398787aa5c427c6f5940215ff0434532ce17f674ebd:0": 60000,
        "245f21e498c0e3eb2547298085d67518713eb44bb30f4511e14e5d8362784b64:0": 55000,
        "0ab7b733d75c29caee531959e78c542ef32576331c8efb0edb30ed817ebde8a2:0": 420000,
        "a074bdcf9954347f8e1ed233530abf2f58f5c0da3b9acd2158ea98afa519b41a:0": 420000,
        "4f85e172762dabd1dfca9e3eb7c753156f78af41f743983e04776c16cba31585:0": 60000,
        "b5210f5a098f9f258b9cf3883df5a7103cbb3ed46caae0c6907e110cc8d08496:0": 75000,
        "cf58521c0ad86cdcef2d1bc21a2eb1c940085b5029095b3df96ec9ccf3d54d9f:0": 175000,
        "f9b87b2907b55afe7d104398787aa5c427c6f5940215ff0434532ce17f674ebd:2": 190000,
        "cf58521c0ad86cdcef2d1bc21a2eb1c940085b5029095b3df96ec9ccf3d54d9f:2": 99999999998545000
    },
    "payloads": [
        "<4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360,{SCL01:[DFG,100000000000000000,8,TXID:1]}>",
        "<4bad9f4de415695991f2864f204984daab87e36c3e80787701961fc0021ffc29,{4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360:TRANSFER[[4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360:1],[TXID:0(250000),TXID:2(99999999999750000)]]}>",
        "<245f21e498c0e3eb2547298085d67518713eb44bb30f4511e14e5d8362784b64,{4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360:TRANSFER[[4bad9f4de415695991f2864f204984daab87e36c3e80787701961fc0021ffc29:2],[TXID:0(55000),TXID:2(99999999999695000)]]}>",
        "<0ab7b733d75c29caee531959e78c542ef32576331c8efb0edb30ed817ebde8a2,{4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360:TRANSFER[[245f21e498c0e3eb2547298085d67518713eb44bb30f4511e14e5d8362784b64:2],[TXID:0(420000),TXID:2(99999999999275000)]]}>",
        "<a074bdcf9954347f8e1ed233530abf2f58f5c0da3b9acd2158ea98afa519b41a,{4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360:TRANSFER[[0ab7b733d75c29caee531959e78c542ef32576331c8efb0edb30ed817ebde8a2:2],[TXID:0(420000),TXID:2(99999999998855000)]]}>",
        "<4f85e172762dabd1dfca9e3eb7c753156f78af41f743983e04776c16cba31585,{4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360:TRANSFER[[a074bdcf9954347f8e1ed233530abf2f58f5c0da3b9acd2158ea98afa519b41a:2],[TXID:0(60000),TXID:2(99999999998795000)]]}>",
        "<b5210f5a098f9f258b9cf3883df5a7103cbb3ed46caae0c6907e110cc8d08496,{4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360:TRANSFER[[4f85e172762dabd1dfca9e3eb7c753156f78af41f743983e04776c16cba31585:2],[TXID:0(75000),TXID:2(99999999998720000)]]}>",
        "<f9b87b2907b55afe7d104398787aa5c427c6f5940215ff0434532ce17f674ebd,{4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360:TRANSFER[[4bad9f4de415695991f2864f204984daab87e36c3e80787701961fc0021ffc29:0],[TXID:0(60000),TXID:2(190000)]]}>",
        "<cf58521c0ad86cdcef2d1bc21a2eb1c940085b5029095b3df96ec9ccf3d54d9f,{4eae21aa41695b59ccfbcc2b37417c6e5f3e63028690d1ab9d8705dd0ce47360:TRANSFER[[b5210f5a098f9f258b9cf3883df5a7103cbb3ed46caae0c6907e110cc8d08496:2],[TXID:0(175000),TXID:2(99999999998545000)]]}>"
    ]
}

SCL01

SCL01 will be the initial token standard, powered by Simple Contract Language. SCL01 allows for the minting of tokens through the SCL Web Wallet, in addition to the sending, receiving, listing, bidding and buying functionalities that come along with the Web Wallet.

SCL01 introduces an advanced option for minting tokens with a predetermined maximum supply, with all minted tokens being allocated to a specified UTxO. This process has been streamlined and made user-friendly, overcoming the complexities that previously posed challenges for individuals with limited technical expertise. The SCL Web Wallet further enhances this experience by integrating full trade functionality directly into the token protocol.

The smart contract for SCL01 incorporates comprehensive features for managing listings, bids, and trade fulfilment, transforming what was once a cumbersome process into a well-structured, four-step procedure. This includes two transaction fees, applied to both the buyer and the seller, ensuring a fair and transparent trading environment.

SCL02

SCL02 enhances its capabilities by introducing a feature that allows for staggered token distribution via airdrops. In this model, a user initiates the minting of an SCL02 contract, setting a maximum supply, but without designating an owner. This process incorporates a novel function, "Airdrop," enabling participants to claim a predetermined portion of the total supply. This function continues to be available until the entire supply is distributed.

Additionally, SCL02 retains all the functionalities of SCL01, ensuring a consistent user experience. This includes the comprehensive trading features, allowing for SCL02 to be traded in a manner analogous to SCL01, maintaining the same level of efficiency and user-friendliness in the trading process. This continuity in functionality ensures that users familiar with SCL01 can seamlessly transition to using SCL02, benefiting from its expanded capabilities while navigating a familiar interface.

Our APIs will be publicly accessible, with documentation so that the public is able to build on top of the tech, but also integrate in indirect ways with our hosted contracts.