Add EIP: Token Converter #7418

Dexaran · 2023-07-27T16:28:56Z

No description provided.

eth-bot · 2023-07-27T16:29:27Z

✅ All reviewers have approved.

github-actions · 2023-07-27T16:40:22Z

The commit bd534f7 (as a parent of 8967ed1) contains errors.
Please inspect the Run Summary for details.

Dexaran · 2023-07-27T16:59:51Z

I am proposing a cross-standard operability for tokens i.e. a method of transforming ERC-20 tokens to ERC-223 and back to ERC-20

EIP was originally named "Token Standard Converter"

Description "Smart-contract service that converts token of one standard to another"

The Walidator told me "standard" is considered a bad word here and I renamed it to "Smart-contract service that converts token of one ERC version to another" but the original name is more intuitive for token developers, I think

abcoathup · 2023-07-28T01:25:52Z

EIPS/eip-0.md

@@ -0,0 +1,239 @@
+---
+eip: 0


Suggested change

eip: 0

eip: 7417

Assigning EIP number using first PR #7417, please also update the filename.

sgitt-vassky · 2023-07-28T13:37:30Z

It can be better to rename this eip to Interoperability of erc-20 and erc-223

because it focuses on this two standards not tokens in general and 'token converter' name does not explain anything tbh

SamWilsn · 2023-08-08T15:36:42Z

EIPS/eip-7417.md

+
+## Abstract
+
+There are multiple token standards on Ethereum chain currently. This EIP introduces a concept of cross-standard interoperability by creating a service that allows [ERC-20](./eip-20.md) tokens to be upgraded to [ERC-223](./eip-223.md) tokens anytime. [ERC-223](./eip-223.md) tokens can be converted back to [ERC-20](./eip-20.md) version without any restrictions to avoid any problems with backwards compatibility and allow different standards to co-exist and become interoperable and interchangeable.


I'd like to see a short technical summary of how this proposal implements the conversion. Do users deposit the ERC-20 and receive a new ERC-223 token? Is the whole contract converted at once? Just one sentence should be enough.

Added the description Dexaran@ebef0f9

EIPS/eip-7417.md

SamWilsn · 2023-08-08T15:41:59Z

EIPS/eip-7417.md

+The idea is to record the contract address here after the deployment of the contract for everyone to publicly access and use.
+
+## Specification
+


EIPs, generally, are for standards that require multiple parties to build compatible implementations.

From my (admittedly quick) read, it sounds like there will be exactly one Token Converter and any ERC-20 contract can upgrade using it.

So I have to ask, who are the multiple implementers that need to interoperate? Couldn't you just deploy this service, and anyone could use it? If so, I don't think this proposal needs an EIP.

This is a ERC. An Ethereum Request for Comments. I want to get comments. Mainly on whether I need to create a contract that also converts ERC-223 origins to ERC-20, or this is not needed at all, or this must be a separate service.

One single on-chain service that performs some task for the whole ecosystem can have an EIP. ENS has its own EIP for example https://eips.ethereum.org/EIPS/eip-137

This is supposed to be one contract that will upgrade all ERC-20 tokens but there can be multiple UI implementations and multiple implementations of smart-contracts that interact with this Token Converter. As the developer who has built the only existing decentralized exchange that operates with both ERC-20 and ERC-223 tokens (this one https://github.com/Dexaran/SOY-Contracts) at the same time I think it's a much more secure way to formally describe the features of the Token Converter in a EIP so that every other third party service developer would know where to look.

The issue of trust. I was planning to add the Token Converter address to the EIP in order to avoid potential scams that may pretend they are Token Converter but in fact simply steal tokens.

From my (admittedly quick) read, it sounds like there will be exactly one Token Converter and any ERC-20 contract can upgrade using it.

There is precedent for this being an ERC-category EIP. I forget the EIP number, but there was one that used its EIP number repeating as the r, v, and s values to create an instance of a contract at a predetermined address across all chains.

Co-authored-by: Sam Wilson <[email protected]>

Dexaran · 2023-09-22T18:58:33Z

@SamWilsn @Pandapip1 can we merge it? Or what is expected from my side?

Pandapip1

The styling definitely deviates a lot from most new EIPs, but that can be fixed and doesn't block this EIP. I'll submit a PR to modernize this once this it's merged. If I forget, @Dexaran please ping me.

eth-bot

All Reviewers Have Approved; Performing Automatic Merge...

eth-bot

All Reviewers Have Approved; Performing Automatic Merge...

Dexaran · 2023-10-17T14:04:30Z

@Pandapip1 the PR was not auto-merged for some reason.

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Create eip-draft_token_standard_converter.md

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Dexaran requested a review from eth-bot as a code owner July 27, 2023 16:28

github-actions bot added c-new Creates a brand new proposal s-draft This EIP is a Draft t-erc labels Jul 27, 2023

eth-bot changed the title ~~Create eip-draft_token_standard_converter.md~~ Add EIP: Token Standard Converter Jul 27, 2023

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poojaranjan mentioned this pull request Aug 8, 2023

EIP Editing Office Hour Meeting 22 ethcatherders/EIPIP#251

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Co-authored-by: Sam Wilson <[email protected]>

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Dexaran mentioned this pull request Aug 10, 2023

Re-add ERC-223 to token standards. ethereum/ethereum-org-website#10854

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[Snyk] Upgrade @typescript-eslint/eslint-plugin from 5.62.0 to 6.3.0 Woodpile37/EIPs#104

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[Snyk] Upgrade @typescript-eslint/parser from 5.62.0 to 6.3.0 Woodpile37/EIPs#106

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Dexaran requested a review from SamWilsn September 22, 2023 18:57

Dexaran mentioned this pull request Oct 16, 2023

Update EIP-223: Remove standard function #7856

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Add EIP: Token Converter #7418

Add EIP: Token Converter #7418

Dexaran commented Jul 27, 2023

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Dexaran commented Oct 17, 2023


		## Abstract

		There are multiple token standards on Ethereum chain currently. This EIP introduces a concept of cross-standard interoperability by creating a service that allows [ERC-20](./eip-20.md) tokens to be upgraded to [ERC-223](./eip-223.md) tokens anytime. [ERC-223](./eip-223.md) tokens can be converted back to [ERC-20](./eip-20.md) version without any restrictions to avoid any problems with backwards compatibility and allow different standards to co-exist and become interoperable and interchangeable.

		The idea is to record the contract address here after the deployment of the contract for everyone to publicly access and use.

		## Specification

Add EIP: Token Converter #7418

Add EIP: Token Converter #7418

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