BUIP189: Token Minting Tool - Basic

BUIPs
1

BUIP189: Token Minting Tool - Basic
submitted by Singularity
date 28 Dec 2022

Motivation

One key innovation in Nexa is its native token functionality. GROUP tokens can be created and managed using a simple transaction format. Unfortunately, right now there are no tools to allow people to create tokens without developing an application from scratch.

If we want people to be aware of an take advantage of Nexa’s token functionality then it is important that people have access to simple tools to do so. I believe it is important that users and businesses get access to Nexa token functionality without needing to be a developer.

Objectives

The purpose of this BUIP is to provide funding to design and develop a beautiful and simple token creation webapp service. This service will allow anyone to create a set of tokens on Nexa within just a couple of minutes and without any special knowledge. They will be able to then send these tokens to a wallet that also has token awareness, such as Wally wallet.

There will also be a second follow-up project and BUIP to expand the webapp. The full details of this follow-up project are outside the scope of this BUIP, but it will be to expand this webapp to offer a service to producing and managing sets of tokens for specific use-cases such as tickets, ICO tokens, voting tokens, reward tokens, financial tokens etc.

The aim is to have the project completed by the end of February 2023.

Funding

This BUIP requests $12,000 for the design and implementation of this webapp. The project will require design, front-end and back-end development, hosting, maintenance, and coordination with marketing. Up to $2,000 of the budget will be ring-fenced for 12 months of software maintenance. The elected BU officials: President, Secretary and Developer will jointly agree expenditures for this BUIP and will monitor progress through monthly reviews.

Hiring

A competent developer or development team with the required experience will be sought externally my myself. The final decision on who is hired to complete this project will be jointly agreed by the elected BU officials: President, Secretary and Developer.

This project is not an open bounty, but proposals are welcome.

Maintenance

The person or team who is hired for this project will be expected to also provide at least 12 months of software maintenance, including bug fixes, and any updates needed to keep the software functional and secure. This is included in the budget.

Bitcoin Unlimited will be expected to maintain the hosting for any websites that are required for the project.

Licensing

Any new software and design assets that result from this project will be owned by B.U. Org. All software will be open-sourced using the same license as our other work (MIT).

Expected Impact

  • Significantly more awareness of Nexa’s token capabilities.
  • More activity and buzz within the Nexa community around tokens.
  • New tokens launched by the Nexa community.
  • New sub-communities built around new tokens.
  • Increased interest around Nexa tokens from developers.
2 Likes
2

This BUIP has today been updated based on feedback received, to provide increased clarity, and a increase in the budget has been included to cover the cost of 12 months maintenance.

1 Like
3

I think it’s a great idea to have a simple token creation tool.

I have a beef with the licensing. I don’t see why it needs to be closed source and I think developing closed source software goes against the ethos of BU.

How will close sourcing the tool prevent scams? Will the software be asking for the private keys of the user?

2 Likes
4

–Begin Signed Message–
BUIP189: YES
–Begin Signature–
INYyCxH2lXWakp/4X5cy8gipfXidZafIzCUUXTR5UJB3E1weKrT/1i1wCp10SqjSIade/YUZLYmpbFwgf+MoDmQ=–End Signature–

5

The idea behind closed sourcing the project initially was so that others can’t come along and duplicate the project, stick it on another domain and make it look like the original but then either not provide the tokens or ask for private keys.

The service won’t ask for private keys, no.

If it is a deal-breaker on whether the project gets approved on whether it is open-source or not, then obviously IMO it is more important for it to be improved than be initially closed source.

6

I think that BU projects should be open source.

Also, ripping the look of a web site is easy because you have to provide that content to the browser. And the back end of Wally wallet is already open source and is used for niftyart.cash which creates tokens, so is a great candidate for this.

So we are left with a relatively thin middle portion that might be not trivial to replicate, but if you were just going to steal someone’s deposit I question whether you’d even need that part. And there will be no deposits to such a tool anyway, so nothing to steal.

I feel strongly that such a tool should be open source so it doubles as a web app template that people can start with to produce their own service.

7

We can make it open-source. I don’t consider that integral to the project.

8

ok edited the OP to reflect that.

9

This would be a fantastic start to the Nexa infrastructure.

10

FOSS is the really the only way to do crypto :wink: