[TEP-64] A Comprehensive Token Data Standard for TON Blockchain

The The Open Network (TON) introduces the TON Enhancement Proposal 64 (TEP-64), a pivotal standard defining the interface for token metadata within the TON ecosystem. Authored by EmelyanenkoK and Tolya, this active proposal, created on February 3, 2022, aims to standardize the representation of token data, including Non-Fungible Tokens (NFTs) and Jettons, enhancing interoperability and user interaction across different platforms.

Overview of TEP-64

TEP-64 outlines a flexible framework for token metadata, accommodating both on-chain and off-chain storage methods. This standard facilitates the automatic retrieval and uniform display of token information by applications such as wallets and marketplaces, streamlining user experience and fostering consistency across the TON blockchain.

Key Features of the Token Data Standard

The proposal delineates several methods for representing token metadata, offering versatility to token creators in terms of data storage and accessibility:

  • Off-chain Content Layout: Utilizes a URI to point to a JSON document containing the token metadata, enabling extensive metadata without consuming blockchain storage.
  • On-chain Content Layout: Stores all metadata directly within the smart contract, ensuring data immutability and on-chain availability.
  • Semi-chain Content Layout: A hybrid approach that stores key metadata on-chain with an additional URI pointing to extended off-chain metadata.

Metadata Attributes

TEP-64 specifies a set of attributes for both NFTs and Jettons, covering essential information such as names, descriptions, and images. This structured approach allows applications to consistently display relevant token details to users.

NFT and Jetton Metadata Examples

The proposal includes examples of both NFT Collection and NFT Item metadata, illustrating how token data can be structured for effective presentation and use:

  • NFT Collection Metadata: Focuses on collection-wide attributes like image, name, description, and marketplace links.
  • NFT Item Metadata: Details specific to individual NFTs, including name, description, image, and content URLs.
  • Jetton Metadata: Describes jetton-specific attributes such as name, symbol, decimals, and visual representation.

Comparative Analysis with Other Standards

TEP-64 builds upon the foundations set by existing blockchain token standards while addressing the unique needs of the TON ecosystem. Below is a comparative analysis with other notable standards:

Feature TEP-64 (TON) EIP-721 (Ethereum) OpenSea (Metadata Standard)
Storage Flexibility Supports on-chain, off-chain, and semi-chain layouts Primarily on-chain with off-chain URIs Primarily off-chain URIs
Standard Type Contract Interface Contract Interface Metadata Standard
Metadata Attributes Extensive and customizable Defined by the standard Extensive and recommended for usage
Adaptability High (supports NFTs and Jettons) Medium (NFT-focused) High (supports various token types)
Implementation Complexity Moderate Low Low

Advantages and Innovations

  • Versatility: TEP-64’s approach to metadata representation caters to diverse use cases, allowing creators to choose the most suitable method for their tokens.
  • Interoperability: By standardizing metadata attributes, TEP-64 enhances the compatibility of TON tokens across different platforms and applications.
  • User Experience: The structured metadata format improves the display and understanding of token properties, benefiting both token holders and creators.

Challenges and Considerations

  • Data Authenticity: The off-chain storage method poses challenges in ensuring the immutability and authenticity of token metadata.
  • Complexity in Semi-chain Layout: The hybrid approach may introduce complexity in managing and merging on-chain and off-chain metadata.

Conclusion

TEP-64 represents a significant advancement in the standardization of token metadata within the TON blockchain. By offering a flexible and comprehensive framework, this proposal not only facilitates the creation and management of tokens but also enhances the end-user experience through consistent and accessible token information. As the TON ecosystem continues to grow, the adoption of TEP-64 could play a crucial role in promoting interoperability, innovation, and user engagement across various blockchain applications.

The TON Token Data Standard TEP-64 offers a structured approach to encoding and accessing metadata for tokens within the TON ecosystem. This standard is vital for facilitating interoperability and consistency across applications that interact with tokens, including NFTs (Non-Fungible Tokens) and Jettons (fungible tokens on TON). By specifying a uniform method for representing token metadata, either stored directly on-chain or accessible through off-chain links, TEP-64 aims to streamline the integration of token data across wallets, marketplaces, and other token-related applications.

Professional Insight:

  1. Flexibility and Efficiency: TEP-64’s allowance for off-chain, on-chain, and semi-chain storage of metadata provides developers with the flexibility to choose the most appropriate and cost-effective method for their use case. This approach can significantly reduce on-chain storage costs while ensuring that essential metadata is readily accessible.

  2. Interoperability: By defining a standard interface for token metadata, TEP-64 enhances interoperability among different applications within the TON ecosystem. This standardization ensures that tokens can be seamlessly displayed and utilized across various platforms without the need for custom integration work.

  3. Extensibility: The standard’s design permits the addition of new metadata fields without risking collisions, providing a future-proof framework that can evolve alongside the ecosystem’s needs.

Professional Questions:

  1. Off-chain Data Authentication: How does TEP-64 propose to authenticate off-chain data to prevent unauthorized modifications? Ensuring the integrity of off-chain metadata is crucial for applications that rely on this information for rendering token attributes accurately.

  2. Handling Semi-chain Data Collisions: In cases where there are collisions between off-chain and on-chain data, on-chain values take precedence. How does TEP-64 recommend handling discrepancies that may arise from outdated or conflicting off-chain data?

  3. Standardization of Attributes and Traits: Does TEP-64 plan to introduce a standardized schema for additional attributes, traits, and non-image content to further enhance consistency across tokens and their representations?

  4. Impact on Data Retrieval Efficiency: While the flexibility in data storage options is advantageous, has there been consideration given to the potential impact on data retrieval efficiency, especially for applications that may need to access metadata from various storage locations?

In summary, TEP-64 plays a critical role in the TON ecosystem by providing a comprehensive framework for token metadata management. Addressing the outlined professional questions and considerations will be paramount in maximizing the benefits of this standard, ensuring secure, efficient, and consistent access to token metadata across the ecosystem.