[TEP-130] Optimizing Token Mechanics: Introducing the Rebase Jetton Standard

The Rebase Jetton Standard proposes a novel interface for rebase tokens within the TON Blockchain ecosystem, addressing the inherent limitations of the Jetton architecture in supporting dynamic balance adjustments. This document outlines the motivation, technical specifications, and integration guidelines for the Rebase Jetton standard, aiming to streamline the implementation of rebase tokens and enhance network efficiency.

Summary

The Rebase Jetton Standard delineates a structured approach for rebase tokens, where a user’s balance is dynamically calculated based on their share of the total supply. This is crucial for the implementation of tokens whose balances can adjust over time without necessitating direct transactions, thus mitigating network fee implications.

Motivation

Traditional Jetton architecture does not accommodate rebase tokens due to the separation of balance and share management across Jetton-master and Jetton-wallet contracts. The Rebase Jetton standard circumvents this limitation by facilitating balance computation through shared ownership, reducing the network’s operational costs.

Specification

The specification includes detailed descriptions of the contract interfaces, message schemas (TL-B), and operational guidelines necessary for implementing rebase jettons, ensuring compatibility and operational efficiency within the TON ecosystem.

Comparison of Traditional vs. Rebase Jetton Architecture

Feature Traditional Jetton Architecture Rebase Jetton Standard
Balance Calculation Direct balance management Balance derived from share of total supply
Contract Structure Separate master and wallet contracts Master contract and decentralized wallet contracts
Network Fee Efficiency High for dynamic balance adjustments Low due to reduced transaction requirements for rebasing
Compatibility With Jetton protocol Specific to rebase mechanics, not directly compatible

Implementation Guide

Frontend Integration

Frontend applications must adapt to accurately reflect rebase jetton balances, requiring the retrieval of share data from individual wallets and corresponding balance calculations through the master contract.

Smart Contract Details

Rebase Jetton Wallet

  • Manages user-specific shares.
  • Handles internal message transactions for transfer and burn operations, adhering to specific schemas and operational logic.

Rebase Jetton Master

  • Central contract for minting new jettons and managing total supply and shares.
  • Provides utility methods for wallet address retrieval, balance, and share calculations.

Challenges and Considerations

The document highlights potential drawbacks, such as the inability to ascertain real-time balances on-chain and the vulnerabilities associated with share-based systems. It also discusses alternatives, rationale, and unresolved questions regarding safe transfers and backward compatibility.

Conclusion

The Rebase Jetton Standard represents a significant advancement in the implementation of rebase tokens on the TON Blockchain. By providing a comprehensive framework for their creation and management, it facilitates the development of innovative financial instruments and applications.

References