The Window Into Your NFT — Charged Particles DApp Now Provides 6551 Support
In the ever-evolving realm of blockchain technology, stagnation is not an option. As pioneers of progress, we are thrilled to unveil our seamless integration and support of EIP-6551 into our DApp, enabling Charged Particles to truly be the window into your NFT. This will be the first place 6551 NFTs can now come to interact, nest, deposit, timelock, yield boost, etc.
The introduction of the EIP-6551 has grabbed a lot of attention, it offers a simple implementation of smart wallets that give NFTs identity and allows for token nesting. Charged Particles looking to innovate, improve our solutions, and provide options to our user base, we’ve decided to add support for the 6551 standard into the Charged Particles viewer Dapp; due to their similarities, it was straightforward to do so. Currently, users are able to deploy Token Bound Accounts (TBAs) and manage them through our energize page. Nesting of ERC20s and ERC721 is supported. Since the standard is still under revision and things will change, it is still not production-ready. We advise caution, so use it at your own risk.
In its simplest form, the EIP-6551 standard defines a registry and smart contract account. The registry is a permissionless deployed contract that no single entity controls. Ideally, it is meant to work as a source of truth in order to find an account that belongs to an NFT. To do so, you would need to look into each registry for a given NFT. In practice multiple registers might exist, serving different purposes or having different capabilities. But at minimum the registry must map and deploy a TBA; deployments utilize the CREATE2 opcode, allowing for deterministic deployment of smart contracts, meaning that the address for a token can be predetermined before it is created.
Token-bound accounts are smart contracts tied to an NFT. The relationship is one to many, a token can have different accounts but an account can only be controlled by one token. These deployments are gas-efficient since the smart contracts are deployed as cloned proxies of an implementation. The implementation can vary and can serve different purposes. The standard specifies very few functions, of most importance ‘execute’, it serves as an interface for low-level call execution on behalf of the owner of the NFT. Low-level byte code is passed from UIs or other contracts, it gives great flexibility since the account can execute any function. However, it must be treated with caution, as it gives full control over the assets in the account.
How does the EIP-6551 standard compare to the Charged Particles protocol? First off, Charged Particles stands as a robust, community-driven platform that has undergone extensive testing and refinement, specifically designed to excel in the realm of asset nesting. EIP-6551 is a standard, it only defines interfaces and it is up to developers to interpret and implement them; it is a way of doing things. It enables asset nesting, but that is not strictly its only use case, it primarily gives NFTs smart accounts and thereby places them as another participant in the Ethereum ecosystem. Technically Charged Particles is more complex, its internal registry and manager contracts intricately manipulate assets, offering users a streamlined experience through a main contract that exposes enhanced utility functions for nested assets. This focused approach not only ensures predictability and security but also allows for the fine-grained control of each nested asset individually.
About Charged Particles
Charged Particles is a protocol that allows users to deposit ERC-20, ERC-721, and ERC-1155 tokens into NFTs. A scarce NFT (e.g. Art, Collectible, Virtual Real Estate, In-Game Item, etc.) can now be transformed into a basket holding a number of other tokens. The Principal amount can be time-locked inside the NFT, and through integration with Aave’s aTokens, the programmable yield from these DeFi yield-generating assets is just a few clicks away.
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Applications of Charged Particles:
✅ DAO Capsules | ✅ Vesting Capsules | ✅ Escrow Capsules | ✅ NFT Trust Accounts | ✅ Gift Baskets | ✅ Improved NFT Index Funds | ✅ Financially Appreciating Artworks | ✅ Nested Bundles of Artworks | ✅ Redemption Tickets | ✅ Creative Crowd-funding Campaigns | ✅ Company Token Promos
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