Major upgrade to SWARM’s suite of smart contracts
Protocol-level infrastructure intended for issuers to use as self-serve for asset tokenization
The SWARM Network is pleased to announce the release of a set of smart contracts enabling the tokenization of any asset using SWARM’s stake-to-mint issuance model. This is the first major release of the protocol-level infrastructure intended for issuers to use as self-serve that the SWARM Network set out to build.
Wait… what exactly is being launched?
There’s no sugarcoating the fact that, regardless of its importance, code (even the remarkable/revolutionary kind) can be dry stuff. So, let’s break it down.
Who is this for?
Some technical knowledge is required to deploy Ethereum smart contracts. As with all of the SWARM Network’s infrastructure and tools, this upgrade to our SRC20 security token standard is completely open source and permissionless. Not only can technically savvy users employ these contracts as-is to tokenize any asset and manage tokens using Etherscan’s open Dapp UI, but developers, securities consultants, advisories, service providers, and anyone wanting to build a whitelabel tokenization solution can build on top of these smart contracts as well.
What do they do?
These smart contracts empower issuers to
- Create compliant SRC20 security tokens on Ethereum
- Issue without fees using SWARM’s stake-to-issue model
- Deploy to mainnet or testnet (Ropsten)
- Reference KYA (Know Your Asset) data from within the smart contract — SWARM’s protocol for transparency and token metadata.
- Delegate important tasks (such as control of the issued smart contract, KYA maintenance, and transaction approval) to anyone with an Ethereum address..
- Utilize built-in whitelisting, greylisting, and blacklisting to realize compliance and permitted transfers, or build your own rule engine for transfer restrictions
- Optionally, chose to equip your token with any of these additional powers: Account Freeze, Contract Freeze, Force Transfer, Burn Tokens, and/or Mint additional tokens
- SRC20 tokens are coupled with the assets they represent, verifiable on KYA.
- Simply stake SWM to mint and issue your tokens. Burn tokens to get your SWM stake back.
- SRC20 tokens are compatible with upcoming SWARM fundraising smart contracts. Create a token now. Offer it as an STO later.
How does all this fit in the roadmap which SWARM had laid out?
SWARM has designed and built a unique, fee-free stake-to-issue tokenomics model. The stake-to-issue model in this set of smart contracts represents an additional utility for the SWM token.
The first utility is as a stake by operators of SWARM Masternodes (who also earn SWM for their work in building our decentralized network) — where 25% of the circulating supply of SWM is currently locked.
The second utility for SWM is in governance of the network — SWM holders regularly vote on the SWARM Network Constitution and other major decisions regarding the project.
Stake-to-mint and issue security tokens is the third and most important use case for SWM, fulfilling its core purpose of an open infrastructure for digital securities that anyone can use for compliant offerings, operated by the network of Masternodes and governed by SWM token holders.
- An issuer ready to test how tokenization works and launch your tokens into this new world of investment?
- A securities consultant with clients looking to tokenize financial instruments?
- A UI developer that wants to build a mobile app for the easy creation and configuration of an asset-backed token?
- An EVM-compatible blockchain that wants to enhance the utility of your infrastructure by offering security token capabilities?
If any of the above applies to you, you can start using the SRC20 smart contracts right now.
- …not any of the above?
If you came to tokenize (not to geek out on the code under the hood), you’re in luck. Swarm Capital, a premium solutions provider building apps and services atop the free and open SWARM Protocol, is prepared to lead by example. Swarm Capital has built the SWARM App, as a first dapp leveraging and interacting with the Swarm protocol: an accessible UI that harnesses the full flexibility and power of these smart contracts (including testnet deployment capabilities), empowering issuers to launch their regulatory-compliant tokens. The SWARM App is available now.
Ready to dive into the code?
The source code can be reviewed here.
Here are the contracts we’ve deployed:
- SRC20Factory: 0x1953D641aD8b2d060ceE858065c3883Fe5Cc7C2a
- SRC20Registry: 0xA79958571D55749898292f09366ce2b7C2F89B74
- AssetRegistry: 0x30b32447137DddF089b327085D2026eaF2eaF65A
- SWMPriceOracle: 0x8ba1BD3b0Fb27006bAD08229E2e168c882a606e6
- GetRateMinter: 0xF05aC3A511cd894b201B0Ea19c8eba3f27f3F2EE
- SwarmTokenMock: 0xB461A8606Ab5f5822D72874d698DEAa966E0789e
- SRC20Factory: 0x7395FDfa173067638D141E2f3FD57b8D761dbBaC
- SRC20Registry: 0xf37FdaDa55b07838CB865d9F2a9d449109eB9521
- AssetRegistry: 0x54F9b26eDc46bD4BEAF70aB2771B7Ec178241932
- SWMPriceOracle: 0x7BB104516EDD2722EA39443372Da5F09C7C02410
- GetRateMinter: 0x4a6596888f86C39eE404C9f3533198Aa34E98BaA
What’s next for SWARM?
We’re still working! Stay tuned for the next set of smart contracts which add fundraising capabilities at the protocol level, allowing for fully programmatic and compliant crowdfunding in any jurisdiction. In the meantime, we encourage you to start building with us. The opportunities are endless!