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• Document below for current scope and requirements

• FIP-21 17 for FIO Chain modifications: https://github.com/fioprotocol/fips/blob/master/fip-00210017.md

• Technical progress: Token Wrapping Project Plan

• Go-to-market plan: Wrapping FIO Token/Domain wrapping go-to-market

• Discussion: Discord token-wrapping channel

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Ethereum Chain wrapping functionality

• Smart contract on:

  • FIO Token wrapping

    • Ethereum L1 Chain

  • FIO Domain Wrapping

    • Polygon, Ethereum L2 Chain.

      • Due to high fees on Ethereum L1, the FIO Domain wrapping will be deployed on Polygon exclusively.

• 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 metadata

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

  • The metadata should be 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:

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Initiative link

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Jira Legacy
server System JIRA serverId 5f0d8161-d4cf-3d17-96b1-53b2b2b5013d key WP-93