...

• Smart contract on Ethereum Chain.

• Custodians

  • The smart contract owner key will be destroyed after deployment

  • Starting set of 10 custodian keys will be hard-coded into contract

  • Custodians will be able to:

    • Register Oracle

      • Request

        • Ethereum public address

      • Processing

        • Oracle is added after 2/3 + 1 custodians have registered the same public address

    • Unregister Oracle

      • Request

        • Ethereum public address

      • Processing

        • Oracle is removed after 2/3 + 1 custodians have unregistered the same public address

    • Register Custodian

      • Request

        • Ethereum public address

      • Processing

        • Custodian is added after 2/3 + 1 custodians have registered the same public address

    • Unregister Custodian

      • Request

        • Ethereum public address

      • Processing

        • Custodian is removed after 2/3 + 1 custodians have unregistered the same public address

• Oracles will

  • MINT: Once Oracles detect that a user on FIO Chain wants to wrap FIO Domain or FIO Tokens, they will submit their observation to this Ethereum smart contract. Once all Oracles have submitted their observation, the wrapped FIO Domain or wrapped FIO Tokens will be minted and transferred to designated Ethereum public address.

    • Oracle can trigger minting of wrapped tokens

      • FIO tokens: mint WFIO ERC-20 token

      • FIO Domains: mint ERC-721 token

        • Must be compatible with OpenSeas

  • BURN: Once Oracles detect that a FIO Domain has been burned on the FIO Chain, they will submit their observation to this Ethereum smart contract. Once all Oracles have submitted their observation, the wrapped FIO Domain will be burned.

    • Oracle can trigger burning of ERC-721 tokens

• Users will

  • SEND: Send ERC-721 FIO Domain or WFIO ERC-20 to this Ethereum smart contract without additional fee other than Ethereum gas passing:

    • ERC-721

      • ERC-721 Domain - previously minted on Ethereum

      • FIO Address where FIO Domain should be delivered on FIO Chain

        • Basic regex validation should be enforced

    • ERC-20

      • Amount of WFIO - previously minted on Ethereum

      • FIO Address where FIO Tokens should be delivered on FIO Chain

        • Basic regex validation should be enforced

• Anchor
  721 721

  Automatic generation of ERC-721 Data storagemetadata

  • ERC-721 requires that a url to a json file be provided.

  • Storage The metadata should be determined by the Oracles.Recommended served by a service hosted by the Foundation, which will dynamically generate it based on the query parameter in the url, e.g. https://metadata.fioprotocol.io/domainnft/sampledomain.json

  • Response meta data:

{
  "name": "FIO Domain: sampledomain",
  "description": "CreateOwners of FIO Domains can create unlimited number of human-readable FIO Addresses on your custom to be used to receive or request crypto using FIO DomainProtocol.",
  "image": "url to FIO icon"
}https://metadata.fioprotocol.io/domainnft/sampledomain.svg"
}

• Automatic generation of NFT image

  • The NFT image should be dynamically generate it based on the query parameter in the url, e.g. https://metadata.fioprotocol.io/domainnft/sampledomain.json

  • Response image will include the base image with text overlay as follows:

    • TBD

Oracle functionality

• Customized solution based on Alien Teleport developed by Michael Yeates.

• Oracle code will be ran by designated FIO Chain BPs with access to:

  • FIO Chain: BPs already run FIO nodes.

  • Ethereum Chain: local Ethereum node is preferred, but Infura or Etherscan can also be used.

• Oracle will:

  • FIO Chain

    • Monitor specific account by inspecting every block and looking for wrapdomain or wraptokens action

    • TRANSFER FIO Domains or FIO Tokens

  • Ethereum Chain

    • Monitor Ethereum smart contract for inbound transfers of ERC-721s or ERC-20s

    • MINT ERC-721 or ERC-20

• Possible exceptions (exception handling should not be automated at this stage):

  • FIO Chain

    • Chain passed to wrapdomain or wraptokens actions is not Ethereum (this restriction is not enforced on the FIO Chain level to allow for wrapping chain expansion without deployment of code)

      • Oracles can trigger unwrapdomain or unwraptokens actions to originating address

    • Public address passed to wrapdomain or wraptokens actions is not a valid Ethereum address (this restriction is not enforced on the FIO Chain level to allow for wrapping chain expansion without deployment of code)

      • Oracles can trigger unwrapdomain or unwraptokens actions to originating address

  • Ethereum Chain

    • FIO Address passed in with ERC-20 is not valid or does not exist

      • Oracles can trigger a refund deducting amount to cover gas

    • FIO Address passed in with ERC-721 is not valid or does not exist

      • Oracle can at their discretion trigger a refund or manually resolve the issue with sender

Other options considered

Initiative link

https://fioprotocol.atlassian.net/browse/WP-93