[Community Vote] Naming convention and display symbols for cross-chain assets via ioTube

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.

:arrow_right: Benefits for users: reduce the length of asset names, and create an intuitive asset naming format for cross-chain assets

:arrow_right: 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

:star: Detailed proposal documentation can be found here: Proposed Naming Convention and Display Symbols for Cross-Chain Assets via ioTube - iotube docs

:star: The proposed tokenlist in json file can be found here: https://iotube.org/tokenlist/tube-iotex-tokens.json

:star: 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
5 Likes

For assets from BSC/Polygon, underscore “_” is proposed as a divider because it is easy to fit in code. A code example could be

let token0 = tokens.BUSD_b

Also, in many Uniswap like DEXes, dash “-” is commonly used as the connector of two tokens as an LP token, such as ETH-WIOTX.

Another option is “.”; but it is not code friendly. It is also easily misinterpreted as a domain divider like “google.com”.

6 Likes

This is great proposal both for users and developers! :ok_hand:

3 Likes

Great proposal - the universal naming system for cross-chain assets!

2 Likes

We have just posted this proposal on gov.iotex.io (based on snapshot.org).

Anyone who has a staking IOTX bucket at block 13,560,100 can vote on this proposal.

You need to import your IoTeX wallet in Metamask to use the voting site. If you have your wallet on ioPay you can still participate in this vote: see this guide on how to import your ioPay wallet in Metamask:

If you use a Ledger hardware wallet with ioPay Desktop, you can create an IoTeX account in Metamask and delegate your Ledger wallet governance to the Metamask:

  1. Make sure you added IoTeX to your Metamask (you can do it on iotexdefi.com)
  2. Switch your Metamask Network to IoTeX
  3. Create a dedicated Metamask account (or just use an existing one)
  4. Go to Staking - IoTeX Delegates to delegate your Ledger voting power to your Metamask account

The vote closes on Oct. 11.

1 Like

specify what kind of nft will be presented to all voters? and how can you get it?