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Tech Environment
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TBD: Ropsten vs. local node?
Wrap FIO Domain
Use Case
User A wants to wrap FIO Domain to P public address on C chain.
User A fetches amount of Oracle fee using /get_oracle_fees.
User A executes wrapdomain action and passes in:
fio_domain (D) to wrap
public_address (P) on chain C where domain should be delivered
chain_code C
max_oracle_fee - maximum amount of FIO user A is willing to pay the Oracles
FIO Domain is transferred to wrapping smart contract account
Oracle fee is transferred from user A and distributed evenly to all registered Oracles.
Oracles monitor every block looking for wrapdomain action.
Once detected Oracles trigger minting of FIO Domain NFT on another chain.
Unwrap FIO Domain
Use case
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User A wants to unwrap X FIO Tokens to P public address on FIO Chain.
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User A executes action on another chain (not covered by this FIP):
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Oracles monitor every block on another chain (not covered by this FIP).
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Once detected each Oracle executes unwraptoken action and passes in:
fio_public_key where to transfer tokens
amount (X) of FIO tokens to transfer
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Wrap FIO Tokens
Transfers FIO Tokens to designated FIO account for the purpose of wrapping.
Use case
User A wants to wrap X FIO Tokens to P public address on C chain.
User A fetches amount of Oracle fee using /get_oracle_fees.
User A executes FIO wraptokens action and passes in:
amount (X) of FIO tokens to wrap
public_address (P) on chain C where tokens should be delivered
chain_code C
max_oracle_fee - maximum amount of FIO user A is willing to pay the Oracles
X FIO Tokens are transferred to wrapping smart contract account.
Oracle fee is transferred from user A and distributed evenly to all registered Oracles.
Oracles monitor every block looking for wraptoken action (not covered by this FIP).
Once detected Oracles trigger minting of wrapped tokens on another chain.
Unwrap FIO Tokens
Transfers FIO Tokens from fio.wrapping to designated FIO account.
Use case
User A wants to unwrap FIO Domain to P public address on FIO Chain.
User A executes action on another chain (not covered by this FIP):
Oracles monitor every block on another chain (not covered by this FIP).
Once detected each Oracle executes unwrapdomain action and passes in:
fio_public_key where to transfer domain
fio_domain (D) to transfer
Once the last Oracle executes unwrapdomain action, FIO Domain is transferred to P.
Oracle Fees
Oracles set a fee they desire for wrapping.
Setting Oracle Fees
Each Oracle submits a fee for token and domain wrapping using setoraclefee.
Oracle fee is set to median of fees provided by all Oracles and then multiplied by number of registered oracles.
Fee Distribution
Oracle fee is transferred from user A and distributed evenly to all registered Oracles.
Expiring Domains
Preferred approach = Burn
Oracle monitors wrapped domains on the FIO chain.
When the FIO Domain burn date hits, the Oracle calls the Ethereum contract burn function
Alternative proposals:
URI that points to the expire date so that it can be checked.If someone re-wraps a domain that previously was wrapped