CRT Tail
The CRT tail is a TAIL program that determines under what conditions CRT tokens may be issued or melted. The CRT tail does not allow for minting.
Operations
Puzzle operations are performed on: crt_tail.clsp
Protocol deployer operations:
- TGE: initial issuance - puzzle: crt_tail.clsp
Approval mod operations:
- issue: issuance of CRT tokens - puzzle: crt_tail.clsp
- melt: melting of CRT tokens - puzzle: crt_tail.clsp
TGE
The vast majority of CRT tokens to ever exist is issued at protocol launch in a token generation event (TGE). The mainnet deployment of Circuit is expected to generate 1bn token at TGE.
Since the CRT tail has the Statutes Struct curried in, the TGE operation must be performed at protocol launch.
Issue
Post-TGE, CRT tokens can only be issued with the approval of an Approval mod. This is enforced by a RECEIVE_MESSAGE condition in the tail for which an Approval coin must output a corresponding SEND_MESSAGE condition. There are two Approval mods that allow for issuing CRT, namely Announcer Registry and Recharge Auction.
| CRT tail operation | Approval mod | Operation | Operation program |
|---|---|---|---|
| issue | Announcer Registry | mint | announcer_registry.clsp |
| issue | Recharge Auction | win | recharge_auction_win.clsp |
Melt
CRT tokens can only be melted with the approval of an Approval mod. This is enforced by a RECEIVE_MESSAGE condition in the tail for which an Approval coin must output a corresponding SEND_MESSAGE condition. There is one Approval mod that allows for issuing CRT, namely Surplus Auction.
| CRT tail operation | Approval mod | Operation | Operation program | CRT tail operation |
|---|---|---|---|---|
| melt | Surplus Auction | win | surplus_auction_win.clsp |
State and Lineage
Fixed state:
None.
Immutable state:
GENESIS_ID: coin ID of the parent coin of eve CRT token(s)STATUTES_STRUCT
Mutable state:
None.
Eve state
Not applicable since standard CRT tokens are not protocol coins.
Amount
Standard CRT tokens can have any amount, just like any other CAT.
Lineage
Since CRT tokens are CATs, lineage is enforced by the CAT layer.