DAO: Decentralized autonomous organization in Parex Chain | Testnet Live
Decentralized autonomous organizations are typified by the use of blockchain technology to provide a secure digital ledger to track digital interactions across the internet, hardened against forgery by trusted timestamping and dissemination of a distributed database. This approach eliminates the need to involve a mutually acceptable trusted third party in any decentralized digital interaction or cryptocurrency transaction. The costs of a blockchain-enabled transaction and of the associated data reporting may be substantially offset by the elimination of both the trusted third party and of the need for repetitive recording of contract exchanges in different records. For example, the blockchain data could, in principle and if regulatory structures permit it, replace public documents such as deeds and titles. In theory, a blockchain approach allows multiple cloud computing users to enter a loosely coupled peer-to-peer smart contract collaboration.
The rules of the DAO are established by a core team of community members through the use of smart contracts. These smart contracts lay out the foundational framework by which the DAO is to operate. They are highly visible, verifiable, and publicly auditable so any potential member can fully understand how the protocol is to function at every step.
Once these rules are formally written onto the blockchain, the next step is around funding: the DAO needs to figure out how to receive funding and how to bestow governance.
This is typically achieved through token issuance, by which the protocol sells tokens to raise funds and fill the DAO treasury.
In return for their fiat, token holders are given certain voting rights, usually proportional to their holdings. Once funding is completed, the DAO is ready for deployment.
At this point, once the code is pushed into production, it can no longer be changed by any other means other than a consensus reached through member voting. That is, no special authority can modify the rules of the DAO; it is entirely up to the community of token holders to decide.
PEP20: Contract creation on Parex Evolution Smart Chain Testnet
- First, install a Dapp.
eg. Metamask, Trustwallet etc. - Make your Parex Testnet settings.
3. Make a TPRX deposit at https://pro.parex.market/faucet.
4. Go to remix.ethereum.org.
5. Write the contract in the example as test.sol
/**
*Submitted for verification at Etherscan.io on 2019-07-28
*/
pragma solidity ^0.4.24;
// ----------------------------------------------------------------------------
// 'TestS Token' token contract
//
// Deployed to : 0xaAC84A3f184a500Ea87FDB0a19D8cBEB1E8F5a2d
// Symbol : Test
// Name : Test Token
// Total supply: 1000000000
// Decimals : 8
//
// Enjoy.
//
// (c) by Moritz Neto with BokkyPooBah / Parex INC. Licence.
// ----------------------------------------------------------------------------
// ----------------------------------------------------------------------------
// Safe maths
// ----------------------------------------------------------------------------
contract SafeMath {
function safeAdd(uint a, uint b) public pure returns (uint c) {
c = a + b;
require(c >= a);
}
function safeSub(uint a, uint b) public pure returns (uint c) {
require(b <= a);
c = a - b;
}
function safeMul(uint a, uint b) public pure returns (uint c) {
c = a * b;
require(a == 0 || c / a == b);
}
function safeDiv(uint a, uint b) public pure returns (uint c) {
require(b > 0);
c = a / b;
}
}
// ----------------------------------------------------------------------------
// ERC Token Standard #20 Interface
// https://github.com/ethereum/EIPs/blob/master/EIPS/eip-20-token-standard.md
// ----------------------------------------------------------------------------
contract ERC20Interface {
function totalSupply() public constant returns (uint);
function balanceOf(address tokenOwner) public constant returns (uint balance);
function allowance(address tokenOwner, address spender) public constant returns (uint remaining);
function transfer(address to, uint tokens) public returns (bool success);
function approve(address spender, uint tokens) public returns (bool success);
function transferFrom(address from, address to, uint tokens) public returns (bool success);
event Transfer(address indexed from, address indexed to, uint tokens);
event Approval(address indexed tokenOwner, address indexed spender, uint tokens);
}
// ----------------------------------------------------------------------------
// Contract function to receive approval and execute function in one call
//
// Borrowed from MiniMeToken
// ----------------------------------------------------------------------------
contract ApproveAndCallFallBack {
function receiveApproval(address from, uint256 tokens, address token, bytes data) public;
}
// ----------------------------------------------------------------------------
// Owned contract
// ----------------------------------------------------------------------------
contract Owned {
address public owner;
address public newOwner;
event OwnershipTransferred(address indexed _from, address indexed _to);
constructor() public {
owner = msg.sender;
}
modifier onlyOwner {
require(msg.sender == owner);
_;
}
function transferOwnership(address _newOwner) public onlyOwner {
newOwner = _newOwner;
}
function acceptOwnership() public {
require(msg.sender == newOwner);
emit OwnershipTransferred(owner, newOwner);
owner = newOwner;
newOwner = address(0);
}
}
// ----------------------------------------------------------------------------
// ERC20 Token, with the addition of symbol, name and decimals and assisted
// token transfers
// ----------------------------------------------------------------------------
contract TestToken is ERC20Interface, Owned, SafeMath {
string public symbol;
string public name;
uint8 public decimals;
uint public _totalSupply;
mapping(address => uint) balances;
mapping(address => mapping(address => uint)) allowed;
// ------------------------------------------------------------------------
// Constructor
// ------------------------------------------------------------------------
constructor() public {
symbol = "Test";
name = "Test Token";
decimals = 8;
_totalSupply = 100000000000000000;
balances[0xaAC84A3f184a500Ea87FDB0a19D8cBEB1E8F5a2d] = _totalSupply;
emit Transfer(address(0), 0xaAC84A3f184a500Ea87FDB0a19D8cBEB1E8F5a2d, _totalSupply);
}
// ------------------------------------------------------------------------
// Total supply
// ------------------------------------------------------------------------
function totalSupply() public constant returns (uint) {
return _totalSupply - balances[address(0)];
}
// ------------------------------------------------------------------------
// Get the token balance for account tokenOwner
// ------------------------------------------------------------------------
function balanceOf(address tokenOwner) public constant returns (uint balance) {
return balances[tokenOwner];
}
// ------------------------------------------------------------------------
// Transfer the balance from token owner's account to to account
// - Owner's account must have sufficient balance to transfer
// - 0 value transfers are allowed
// ------------------------------------------------------------------------
function transfer(address to, uint tokens) public returns (bool success) {
balances[msg.sender] = safeSub(balances[msg.sender], tokens);
balances[to] = safeAdd(balances[to], tokens);
emit Transfer(msg.sender, to, tokens);
return true;
}
// ------------------------------------------------------------------------
// Token owner can approve for spender to transferFrom(...) tokens
// from the token owner's account
//
// https://github.com/ethereum/EIPs/blob/master/EIPS/eip-20-token-standard.md
// recommends that there are no checks for the approval double-spend attack
// as this should be implemented in user interfaces
// ------------------------------------------------------------------------
function approve(address spender, uint tokens) public returns (bool success) {
allowed[msg.sender][spender] = tokens;
emit Approval(msg.sender, spender, tokens);
return true;
}
// ------------------------------------------------------------------------
// Transfer tokens from the from account to the to account
//
// The calling account must already have sufficient tokens approve(...)-d
// for spending from the from account and
// - From account must have sufficient balance to transfer
// - Spender must have sufficient allowance to transfer
// - 0 value transfers are allowed
// ------------------------------------------------------------------------
function transferFrom(address from, address to, uint tokens) public returns (bool success) {
balances[from] = safeSub(balances[from], tokens);
allowed[from][msg.sender] = safeSub(allowed[from][msg.sender], tokens);
balances[to] = safeAdd(balances[to], tokens);
emit Transfer(from, to, tokens);
return true;
}
// ------------------------------------------------------------------------
// Returns the amount of tokens approved by the owner that can be
// transferred to the spender's account
// ------------------------------------------------------------------------
function allowance(address tokenOwner, address spender) public constant returns (uint remaining) {
return allowed[tokenOwner][spender];
}
// ------------------------------------------------------------------------
// Token owner can approve for spender to transferFrom(...) tokens
// from the token owner's account. The spender contract function
// receiveApproval(...) is then executed
// ------------------------------------------------------------------------
function approveAndCall(address spender, uint tokens, bytes data) public returns (bool success) {
allowed[msg.sender][spender] = tokens;
emit Approval(msg.sender, spender, tokens);
ApproveAndCallFallBack(spender).receiveApproval(msg.sender, tokens, this, data);
return true;
}
// ------------------------------------------------------------------------
// Don't accept ETH
// ------------------------------------------------------------------------
function () public payable {
revert();
}
// ------------------------------------------------------------------------
// Owner can transfer out any accidentally sent ERC20 tokens
// ------------------------------------------------------------------------
function transferAnyERC20Token(address tokenAddress, uint tokens) public onlyOwner returns (bool success) {
return ERC20Interface(tokenAddress).transfer(owner, tokens);
}
}
6. After choosing the Compiler version in the picture below, press the Compile test.left button. Then select TestToken from the Contract section.
7. Select the metamask from the “ENVIRONMENT” section in the picture below.
8. After you approve the Metamask connection, you can create your contract by pressing Deploy.
9. Here we suggest you to choose around GWEI 40 for testnet.
10. Copy the contract address as in the picture below. You can add it from the Metamask add new contract section.
Every transaction on the Parex Chain undergoes community approval. Most importantly, the commission fees from every transaction made on the Parex chain are given back to the community. Details are coming soon.
