Factom Asset Tokens - Open tokenization standards on Factom
-
Factom Asset Tokens
Factom Asset Tokens (FAT) are a collection of open source, data-only
blockchain tokenization standards. FAT Tokens open up affordable, secure crypto
tokens to the world.
What Is FAT?
FAT Tokens are decentralized, tokenized
assets;
Pure and simple.
Anyone can send, receive, and create their own tokens for a low fixed cost. FAT
offers the security of Bitcoin and the flexibility of Ethereum, all for 1/100th
the price.
Features
Low, Fixed Cost
Fixed at $0.001 USD per transaction and $0.012 USD per new token issuance,
FAT has 99% lower transaction and issuance costs than Ethereum Tokens with
similar features and speed.
Universal
FAT standards are data only, and are written in universal formats that most
programmers already know, and anyone can learn (JSON). There is no need to
learn contract languages or other specialized tools.
Extensible
FAT standards and tokens are composable and extensible by design, and are made
to be extended to the limit of creativity. Metadata is embeddable in issuances
and transactions for unlimited flexibility.
Safe
Sending and issuing FAT tokens does not require buying crypto from exchanges.
The tokens used to pay for FAT transactions & issuances, Entry
Credits, are not securities
and are purchasable online instantly.
Secure
FAT is built on Factom, a decentralized Blockchain run by 100s of
community members and over 40 verified enterprise companies worldwide. Every 10
Minutes Factom's data is recorded into the Bitcoin Blockchain to prove it's
existence and secure it forever.
Thriving Community
Harness one of the most active and qualified blockchain communities in the
world since 2014: The Factom Community. Factom
has been awarded multiple Department of Homeland
Security
and Gates
Foundation
grants for it's work securing data in law enforcement applications and the
developing world.
Token Types
FAT features several types and is always adding more. You can create your own
too!:
FAT-0
A fungible asset token standard.
- Most alike an ERC-20 token (TRON, Golem, Ziliqa):
- Tradable in fractions of a token
FAT-1
A non-fungible asset token standard.
- Most alike an ERC-721 token (CryptoKitties)
- Tradable in whole number token increments
- Every token is unique, and can have unique properties
- Tokens have a history of the addresses they've resided at
Getting Started
The easiest way to get started exploring, issuing, accepting, and trading FAT
tokens is by using the latest official FAT Wallet Release. The wallet is
available as an executable for Windows, Mac, or Linux.
You can also use a Library or API to programmatically issue,
interact with, and send FAT tokens from your code.
What Is The FAT Wallet?
The FAT Wallet is a piece of software that keeps track of transactions of your
selected FAT tokens and allows you to check token balances and send tokens.
It's just like the the Bitcoin and Ethereum wallets you're used to. It features
a user friendly interface to allow anyone to receive FAT tokens securely on
their personal computer.
What Types of Tokens Work With The Wallet?
Both FAT-0 and FAT-1 are supported. Future token standards will be implemented
as deemed appropriate and beneficial for the community.
What Do I Need To Receive Tokens?
No more than 1 minute of your time. Simply follow the instructions when the
wallet starts up for the first time to create an address you can then share
with others. This address generated is a Factom address that can also accept
Factoids. You can also import a Factoid address if you have one already.
What Do I Need to Send tokens?
You'll need to purchase some Entry Credits so you can enter data into the
Factom blockchain.
You can acquire Entry Credits from 3rd party purchasers
(Defacto & Factom
Inc.).
Alternatively, you can acquire Factoids from an exchange and burn them into
Entry Credits and avoid the markups of 3rd party services. You'll always get a
good deal, since the burn ratio between Factoids to Entry Credits is stabilized
to give Entry Credits a constant value of $0.001 USD.
Once your Entry Credit address is funded you can send FAT tokens by burning
entry credits. It costs 1 Entry Credits to send a transaction
($0.001 USD).
Pending transactions should show up in the wallet within 30 seconds after
successful entry into Factom.
What Do I Need to Issue a New FAT Token?
To issue a new FAT token you'll need a Factom Digital
Identity.
Registering a new identity costs around 30 Entry Credits ($0.03). You'll need
to wait up to 10 minutes for the block to complete to view and use your new
identity.
Issuing A FAT Token
Using the wallet you can issue new tokens for your application or
organization's needs. Parameters are flexible to allow FAT tokens to fit your
use case. You can define basic properties like Display Name & Symbol, Token
Type, and rules like Maximum Token Supply.
Once you've set your parameters you can add an initial set of recipients to
receive the newly created tokens. After issuance, you can sell your tokens
using traditional business processes or integrate them into your application's
functionality to implement token economies.
In the near future, FAT tokens will support smart contract functionality to allow holding trustless token sales(ICOs), evaluating outside data sources (APIs), and much more rich functionality.
Resources
General Info
Software
-
FAT Daemon (fatd) - Official FAT token daemon and API server
- A program written in Go that tracks and validates FAT Token chains, and provides up an API for other applications to access FAT's data.
-
FAT Wallet - Official FAT Wallet
Documentation
-
Factom Asset Token Improvement Proposals (FATIPs)
- Detailed technical definitions of the FAT standards & protocols
Papers
Community & Discussion
Development
-
Factom Asset Token Improvement Proposals (FATIPs)
- Main location for community review and development of FAT standards
- Token API definitions
Libraries
-
fat-js - NodeJS implementations of FAT-X RPC clients
Copyright & Legal
This project has no affiliation with Factom Incorporated, the original
developer of the Factom blockchain.
The term "Factom" refers solely to the MIT licensed, open source blockchain
technology Factom.
Icons by Icons8
Copyright and related rights waived via
CC0.