Context
ioTube (iotube.org) is a cross-chain bridge that facilitates two-way token swaps between IoTeX and other blockchains such as Ethereum, Binance Smart Chain, and Polygon. ioTube currently supports 28 assets from four blockchains (IoTeX, Ethereum, Binance Smart Chain, Polygon) with many more assets and blockchains on the roadmap.
Historically, assets bridged from other blockchains have special naming conventions and display symbols on the IoTeX Network to denote that they are cross-chain assets:
- Ethereum: ioABC (where ABC is the original symbol)
- Binance Smart Chain: ABC-bsc (where ABC is the original symbol)
- Polygon: ABC-matic (where ABC is the original symbol)
As we add more blockchains to ioTube, these historical naming conventions may become complex and confusing – we seek to establish a new naming convention for cross-chain assets.
Proposal
In this proposal, we are proposing a new naming convention and display symbols for cross-chain assets from Ethereum, BSC, and Polygon.
Benefits for users: reduce the length of asset names, and create an intuitive asset naming format for cross-chain assets
Benefits for developers: ioTube will provide a tokenlist.json file for developers to easily integrate this naming convention, which will enable consistent naming convention across Dapps, services, and tools in the IoTeX Network
1. Cross-chain assets from Ethereum
All cross-chain assets that originated from Ethereum will use the same symbols as its corresponding token on Ethereum, instead of the historical ioABC format.
Examples:
- Original asset name on Etheruem: ETH (native coin)
- Old asset name on IoTeX: ioETH
- Proposed asset name on IoTeX: ETH (XRC20 token on IoTeX)
– - Original asset name on Etheruem: USDT (ERC20 tokens)
- Old asset name on IoTeX: ioUSDT
- Proposed asset name on IoTeX: USDT (XRC20 token on IoTeX)
2. Cross-chain assets from Binance Smart Chain
BNB (the native token of BSC) will be displayed as BNB on IoTeX. All other cross-chain assets that originated from BSC will use the new “ABC_b” format, instead of the historical “ABC-bsc” format (where ABC is the original symbol).
Examples:
- Original asset name on BSC: BNB (native coin)
- Old asset name on IoTeX: BNB-bsc
- Proposed asset name on IoTeX: BNB (XRC20 token on IoTeX)
– - Original asset name on BSC: BUSD (BEP-20 tokens)
- Old asset name on IoTeX: BUSD-bsc
- Proposed asset name on IoTeX: BUSC_b (XRC20 token on IoTeX)
3. Cross-chain assets from Polygon
MATIC (the native token of Polygon) will be displayed as MATIC on IoTeX. All other cross-chain assets that originated from Polygon will use the new “ABC_m” format, instead of the historical “ABC-matic” format (where ABC is the original symbol).
Examples:
- Original asset name on Polygon: MATIC (native coin)
- Old asset name on IoTeX: WMATIC
- Proposed asset name on IoTeX: MATIC (XRC-20 token on IoTeX)
– - Original asset name on Polygon: WBTC (ERC20 tokens)
- Old asset name on IoTeX: WBTC-matic
- Proposed asset name on IoTeX: WBTC_m (XRC-20 token on IoTeX)
Related links
Detailed proposal documentation can be found here: Proposed Naming Convention and Display Symbols for Cross-Chain Assets via ioTube - iotube docs
The proposed tokenlist in json file can be found here: https://iotube.org/tokenlist/tube-iotex-tokens.json
To view on tokenlist.org UI, please visit: Ethereum token lists
Other Details
- Eligibility: any IoTeX stakeholder (i.e., those that stake IOTX) can vote
- Timeline
- Discussion on Forum: starting 9/21/2021
- Voting Period: 9/28/2021 - 10/5/2021
- Implementation (if accepted): the proposed tokenlist is Ethereum token lists
- Voting on Snapshot: see our step-by-step voting instructions once voting goes live