Creating Tokens via Token Factory Module

The TokenFactory module enables any account to create a new token with the following naming convention: factory/{creator address}/{subdenom}.

By namespace-separating tokens with the creator’s address, token minting becomes permissionless, eliminating the need to resolve name collisions.

A single account can create multiple denominations by providing a unique subdenom for each new denomination.

Upon creation, the original creator is granted “admin” privileges over the asset. This allows them to:

• Minting the token to any account
• Burning the token from any account
• Transferring the token between any two accounts
• Changing the admin (in the future, more admin capabilities may be added)

Tutorial

Create Token Denom

Creates a token denom in the format factory/{creator address}/{subdenom} with the specified creator address and subdenom. Subdenoms can only contain the characters [a-zA-Z0-9./].

CLI

minitiad tx tokenfactory create-denom [sub-denom] \
    --from test-account \
    --gas auto --gas-adjustment 1.5 \
    --gas-prices [gas-price] \
    --node [rpc-url]:[rpc-port] \
    --chain-id [chain-id]

InitiaJS

import {
    RESTClient,
    MnemonicKey,
    MsgCreateDenom,
    Wallet,
} from '@initia/initia.js';

async function main() {
    const reset = new RESTClient('[rest-url]', {
        gasPrices: '0.15uinit',
        gasAdjustment: '1.5',
    });

    const key = new MnemonicKey({
        mnemonic: 'beauty sniff protect ...',
    });
    const wallet = new Wallet(reset, key);

    const msgs = [new MsgCreateDenom(key.accAddress, 'udenom')];

    // sign tx
    const signedTx = await wallet.createAndSignTx({ msgs });
    // send(broadcast) tx
    reset.tx.broadcastSync(signedTx).then(res => console.log(res));
    // {
    //   height: 0,
    //   txhash: '0F2B255EE75FBA407267BB57A6FF3E3349522DA6DBB31C0356DB588CC3933F37',
    //   raw_log: '[]'
    // }
}

main();

Mint

Minting is the process of creating new tokens for a specific denom and assigning them to a specified address.

Only the current admin can mint tokens for that denom.

By default, the creator of the denom is its first admin.

CLI

minitiad tx tokenfactory mint [amount] [to-address] \
    --from test-account \
    --gas auto --gas-adjustment 1.5 \
    --gas-prices [gas-price] \
    --node [rpc-url]:[rpc-port] \
    --chain-id [chain-id]
    
# amount example
# 10000factory/init1.../udenom

InitiaJS

import {
Coin,
RESTClient,
MnemonicKey,
MsgMint,
Wallet,
} from '@initia/initia.js';

async function main() {
    const reset = new RESTClient('[rest-url]', {
        gasPrices: '0.15uinit',
        gasAdjustment: '1.5',
    });

    const key = new MnemonicKey({
        mnemonic: 'beauty sniff protect ...',
    });
    const wallet = new Wallet(reset, key);

    const msgs = [
        new MsgMint(
        key.accAddress,
        new Coin(
            `factory/${key.accAddress}/udenom`, // factory/creatoraddr/subdenom
            1000
        ),
        key.accAddress
        ),
    ];

    // sign tx
    const signedTx = await wallet.createAndSignTx({ msgs });
    // send(broadcast) tx
    reset.tx.broadcastSync(signedTx).then(res => console.log(res));
    // {
    //   height: 0,
    //   txhash: '0F2B255EE75FBA407267BB57A6FF3E3349522DA6DBB31C0356DB588CC3933F37',
    //   raw_log: '[]'
    // }
    }

main();

Burn

Burning is the process of permanently removing tokens from circulation by destroying them.

Only the current admin can burn a specific denom.

CLI

minitiad tx tokenfactory burn [amount] [burn-from-address] \
    --from test-account \
    --gas auto --gas-adjustment 1.5 \
    --gas-prices [gas-price] \
    --node [rpc-url]:[rpc-port] \
    --chain-id [chain-id]

# amount example
# 10000factory/init1.../udenom

InitiaJS

import {
    Coin,
    RESTClient,
    MnemonicKey,
    MsgBurn,
    Wallet,
} from '@initia/initia.js';

async function main() {
    const reset = new RESTClient('[rest-url]', {
        gasPrices: '0.15uinit',
        gasAdjustment: '1.5',
    });

    const key = new MnemonicKey({
        mnemonic: 'beauty sniff protect ...',
    });
    const wallet = new Wallet(reset, key);

    const msgs = [
        new MsgBurn(
        key.accAddress,
        new Coin(
            `factory/${key.accAddress}/udenom`, // factory/creatoraddr/subdenom
            1000
        ),
        key.accAddress // burn from
        ),
    ];

    // sign tx
    const signedTx = await wallet.createAndSignTx({ msgs });
    // send(broadcast) tx
    reset.tx.broadcastSync(signedTx).then(res => console.log(res));
    // {
    //   height: 0,
    //   txhash: '0F2B255EE75FBA407267BB57A6FF3E3349522DA6DBB31C0356DB588CC3933F37',
    //   raw_log: '[]'
    // }
}

main();

Change Admin

The change-admin command allows the current admin to transfer admin privileges for the denom to another account.

CLI

minitiad tx tokenfactory change-admin [denom] [new-admin] \
    --from test-account \
    --gas auto --gas-adjustment 1.5 \
    --gas-prices [gas-price] \
    --node [rpc-url]:[rpc-port] \
    --chain-id [chain-id]

# denom example
# factory/init1.../udenom

InitiaJS

import {
    Coin,
    RESTClient,
    MnemonicKey,
    MsgBurn,
    Wallet,
} from '@initia/initia.js';

async function main() {
    const reset = new RESTClient('[rest-url]', {
        gasPrices: '0.15uinit',
        gasAdjustment: '1.5',
    });

    const key = new MnemonicKey({
        mnemonic: 'beauty sniff protect ...',
    });
    const wallet = new Wallet(reset, key);

    const msgs = [
        new MsgBurn(
        key.accAddress,
        new Coin(
            `factory/${key.accAddress}/udenom`, // factory/creatoraddr/subdenom
            1000
        ),
        key.accAddress // burn from
        ),
    ];

    // sign tx
    const signedTx = await wallet.createAndSignTx({ msgs });
    // send(broadcast) tx
    reset.tx.broadcastSync(signedTx).then(res => console.log(res));
    // {
    //   height: 0,
    //   txhash: '0F2B255EE75FBA407267BB57A6FF3E3349522DA6DBB31C0356DB588CC3933F37',
    //   raw_log: '[]'
    // }
}

main();