What are Totems?
Totems are a new blockchain token standard that allows for infinite functionality through the use of Mods. Unlike traditional tokens where functionality is baked into the token contract itself, Totems separates the token logic from its behavior, allowing you to mix and match features like building blocks.
Core Concepts
Tokens
Totems are fungible tokens (or are they!) that can be created by anyone. Each Totem has a unique ticker symbol and can have Mods attached to it that define its behavior.
Mods
Mods are event-driven programs that respond to token events:
- Transfer - When tokens move between accounts
- Mint - When new tokens are created
- Burn - When tokens are destroyed
- Created - When a new Totem is first created
Minter Mods
Minter Mods are a special type of Mod that can mint Totems. Unlike regular Mods that only observe events,
Minter Mods must implement a callable mint function that the Totems contract calls when users want to mint Totems.
When a Totem is created, tokens can be allocated to Minter Mods which they then distribute according to their logic (e.g., bonding curves, fixed-price sales, airdrops, mining, etc.).
Minter Mods can also be configured as unlimited, meaning they can mint beyond the initial allocation without a fixed supply cap, but will never be able to hold Totems themselves.
Caution
Totems with unlimited Minter Mods will display warnings in the UI about unfixed supply. This alerts users that the supply can increase indefinitely, which may affect their decision to use your mods. It will also explain the potential risks (e.g. theft, inflation, etc.) to them with bright red warnings.
Those warnings will also show up on the Mod Market listing for your Mod, so be sure to clearly communicate how your Minter Mod works if you choose to make it unlimited.