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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

Wrap

func Wrap(cur realm, base string, amount int64) int64

Wrap escrows `amount` of the underlying and issues the same number of native coins to the caller.

You must `Approve` this realm's address on the underlying token first, through that token's own realm. Until you do, this realm has no authority over your balance at all, and Wrap fails with "insufficient allowance", which is the system working.

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 "Wrap" -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 "Wrap" -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