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nativeify/v0 package

Overview

Package nativeify turns a GRC20 into a native coin, which is wugnot run backwards.

wugnot takes GNOT, a coin the bank holds, and issues a GRC20 receipt for it, because a GRC20 can be pulled by a contract and a native coin cannot. This realm takes a GRC20, escrows it, and issues a native denom against it 1:1, because a native coin can do four things a GRC20 cannot:

  • move with no realm call at all (`gnokey maketx send`, from any wallet)
  • ride the `-send` envelope of a call, so it can PAY for something
  • sit beside GNOT on an account page, with nothing registered anywhere
  • be named as the gas denom by a chain whose genesis says so

What you give up, and it is not small

A native coin cannot be pulled. `banker.SendCoins` refuses any `from` that is not the banker's own realm address, so there is no allowance, no `TransferFrom`, and no way for an AMM, an escrow or a subscription to take what you approved. Everything downstream of `Approve` stops working the moment a coin becomes native. That is not a gap in this realm; it is the property that makes the wrapping worth doing in the other direction.

And the issuer of a native coin can always delete a balance: `RemoveCoin` takes an arbitrary address. This realm never calls it on an address other than its own, Unwrap explains why in detail, and the gnomod.toml explains why this path is public rather than redeployable. Those three together are the entire guarantee. There is no on-chain way to prove a negative about code.

The exchange rate is 1, always

One smallest unit of the underlying is one unit of the coin. Not 10^decimals: the bank has no notion of divisibility, so a token with 6 decimals wrapped here produces a coin counted in the token's own smallest units, and the 6 is carried to `r/moul/x/nativereg` as a display hint and nowhere else.

Solvency is therefore a plain equality that anybody can check without trusting this realm's bookkeeping: the GRC20 balance at this realm's address equals the total supply of the denom. Solvency computes it from both sides.

Play money to try it on: `r/moul/x/grc20faucet/v0`.

Function

Nativeify

func Nativeify(cur realm, tokenKey, base string) string

Nativeify creates the native counterpart of a GRC20 registered in `r/nt/grc20reg`, and returns its denom. It issues nothing: Wrap does that.

`base` is the part of the denom after the colon, yours to choose, unique in this realm and in the chain's charset. One native denom per underlying token: a second one would double the chain's per-denom storage for no new capability, and realm-denom balances live under their own store keys, which are not gas-metered.

Params

Command

# WARNING: This command is running in an INSECURE mode.
# It is strongly recommended to use a hardware device for signing
# and avoid trusting any computer connected to the internet,
# as your private keys could be exposed.

gnokey maketx call -pkgpath "gno.land/r/moul/x/nativeify/v0" -func "Nativeify" -args $'' -args $'' -gas-fee 1000000ugnot -gas-wanted 1_000_000_000 -send "" -chainid "gnoland-1" -remote "https://rpc.gno.land" ADDRESSgnokey query -remote "https://rpc.gno.land" auth/accounts/ADDRESS
gnokey maketx call -pkgpath "gno.land/r/moul/x/nativeify/v0" -func "Nativeify" -args $'' -args $'' -gas-fee 1000000ugnot -gas-wanted 1_000_000_000 -send "" -broadcast=false ADDRESS > call.tx
gnokey sign -tx-path call.tx -chainid "gnoland-1" -account-number ACCOUNTNUMBER -account-sequence SEQUENCENUMBER ADDRESS
gnokey broadcast -remote "https://rpc.gno.land" call.tx