The token part of Bridge Protocol is the interface used by third parties to interact with the token through the different stages of its lifecycle.
The token part of Bridge Protocol is the interface used by third parties to interact with the token through the different stages of its lifecycle (issue/redeem, approvals, transfers, etc.).
The token has a single owner, one or multiple administrators, one or multiple issuers, and one or multiple seizers.
As we want Bridge Protocol to be as open as possible, the token issuer will have the opportunity to define trusted intermediaries that will act as the compliance authorities for given tokens. The role of the compliance authority is to maintain the compliance registry and make sure that the information stored in the compliance registry are accurate.
The token is registered with a Processor that will process all operations centrally. Having a single Processor for all tokens facilitates maintenance over a token's lifecycle, as it is not necessary to upgrade tokens to be able to add new features or new restrictions to them.
Every token issued with Bridge Token is compliant with the following standard proposals:
All the token contracts that are deployed with Bridge Protocol are in the form of proxy + logic. The proxy is what contains the data storage, while the logic contains how one interacts with the data storage. The purpose of this approach is to:
- Be able to update the logic of a token without having to redeploy its data storage and needing your users to migrate to a new token.
- Re-use a previously deployed logic for a new token, which saves you the cost of re-deploying a logic each time you create a new token.