Configure Attribute Token (Step #3)¶

Now a user decides if the Attribute will be a ‘Smart Token’ or a ‘Fact Token’.

A Smart Token (similarly to an Asset Token, Currency Token) allows a user to configure what conditions they would like for each protocol action.

• The user must change this for each action selected using the dropdown.

A Fact Token (or a dumb token) is a token that does not have protocol actions and conditions that can be configured like (Mint, Transfer, Update, Burn Migrate).

• Fact token has some uses and allows users to have attribute tokens that are ‘cheaper’ than Smart Tokens when Smart Tokens are not needed.

Smart Token Protocol Actions¶

Mint¶

The Mint action determines under what conditions new attribute tokens can be created (minted) in your ecosystem. This action is critical for managing the issuance of attributes, such as role-specific tokens, access levels, or membership statuses.

Mint Conditions Drop-down¶

Transfer¶

The Transfer action governs how attribute tokens can move between users. This is especially important for attributes that represent exclusive or non-transferable qualities (like personal credentials or achievements) that should not be passed on to others.

Transfer Conditions Drop-down¶

Update¶

The Update action allows changes to be made to the attribute token after it has been minted. This is essential for attributes that might evolve over time, such as a user’s role, rank, or membership status.

Update Conditions Drop-down¶

Burn¶

The Burn action allows an attribute token to be permanently destroyed or revoked. This is important for managing the lifecycle of tokens that represent temporary statuses, such as memberships or contracts, which might need to be burned once they expire or are no longer valid.

Burn Conditions Drop-down¶

Migrate¶

The Migrate action controls whether and how attribute tokens can be moved to different networks or systems. This is especially useful for evolving ecosystems where tokens may need to be transferred from one chain to another or migrated as part of an upgrade.

Migrate Conditions Drop-down¶

Note:¶

The default template is pre-selected. There is one condition select for each action, “Always Fail’.” 

Prerequisites:¶

[Please review the Infinity Networks Section to learn about Smart Tokens and Fact Tokens]