TokenConverter
The x/tokenconverter
module enables seamless conversion between VRISE
and RISE
tokens on the Sunrise blockchain. This module plays a crucial role in the ecosystem by allowing users to convert between the staking token and the fee token while maintaining an equivalent value relationship.
Key Features
Bidirectional Token Conversion:
Convert
VRISE
(bond denomination) toRISE
(fee denomination) and vice versa.Maintain a 1:1 equivalent value relationship between the tokens.
Parameter Governance:
Configurable denominations through module parameters.
Default bond denomination: "uvrise" (micro
VRISE
).Default fee denomination: "urise" (micro
RISE
).
Integrated System Component:
Works alongside other modules like
x/shareclass
andx/fee
.Supports the broader tokenomics of the Sunrise ecosystem.
Permissionless Operation:
Any user can perform token conversions at any time.
No slippage or fees applied to the conversion process.
Core Functionality
Token Conversion
The module provides a simple and direct conversion mechanism between VRISE
and RISE
tokens:
When converting VRISE to RISE, the module burns VRISE and mints an equivalent amount of RISE.
When converting RISE to VRISE, the module burns RISE and mints an equivalent amount of VRISE.
This process maintains the total economic value in the system while allowing users to hold the token type that best suits their needs.
Workflow: Token Conversion Process
Messages
MsgConvert
Converts tokens between the bond and fee denominations.
Parameter Configuration
Bond Denomination (bond_denom
)
The denomination used for staking and governance (default: "uvrise"
).
Fee Denomination (fee_denom
)
The denomination used for transaction fees (default: "urise"
).
Example Configuration:
Example Usage
Query Token Converter Parameters
Convert Tokens
Benefits
Flexible Token Usage:
Users can hold tokens in their preferred denomination.
Seamlessly switch between tokens based on intended use (staking vs fees).
Ecosystem Integration:
Supports the DA Fee Abstraction mechanism by allowing conversion between token types.
Facilitates the operation of other modules in the Sunrise ecosystem.
Simple Design:
Straightforward conversion with no fees or slippage.
Easy to understand and integrate with applications.
See Github for details.
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