📔Pre-Readings

Before diving deep into the behind the scenes of our token standard, we encourage you to do two things.

1) Explore the landing and explore page (https://bitbadges.io) in our site to get an idea of what is possible! Also, go through the create flow to see what all is possible! At the end of the create flow, you can click on the Show Tx button to see what the JSON transaction looks like behind the scenes.

2) For a full A-Z description of what BitBadges is and why we built it, read this:

🪄The BitBadges Standard

3) How does BitBadges transferability work from a high-level?

Mint Address

The Mint address has unlimited balances. Any 'Mint' creates a token out of thin air.

Circulating Supply

The circulating supply is not a static number but rather the total amount of tokens transferred from the Mint address. Set approvals and permissions accordingly.

Collection Approvals (Transferability)

Collection approvals (minting and post-minting) define the overall rules for the collection. All transfers must always obey a collection approval. This gives you overarching control about the transferability of the collection. Examples: freezability, non-transferable, revoking, etc.

User-Level Approvals

The sender / receiver can also set user-level approvals that must be satisfied by default to gate who can send on their behalf or send to them.

These can be skipped / forcefully overriden by the collection-level approvals (for implementing forceful functionality like freezing, etc).

What is checked on each transfer?

Each transfer must have sufficient balances, satisfy a collection approval, and satisfy user-level approvals if not overridden.