Convert erc20 to erc777?

Hi all,

I thank you in advance for any help you may offer to this greenhorn.

  1. Is it silly to use that web app fondu for creating erc20 contracts? the app was written by @borodutch the app location is here:
  2. If not, can one convert those jsol files that are created by the app to erc777 by editing the code in each?
    I want to create a token, with the new type (777) but also want to save time.

I am stoked, despite the current circumstances.
best, gk

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Hi @greenknight,

Welcome to the community :wave:

It really depends what your token is for.

If your token is intended to have value, then your contracts should be appropriately tested and audited. You should also consider any regulatory requirements.

If you are looking to play around with tokens, then I think a dapp is a great introduction to start experimenting. It looks like Fondu is deploying tokens inheriting from the OpenZeppelin ERC20 implementation.

I have deployed a fair few ERC20 tokens to public networks and it is great to learn about Ethereum and ERC20 and show to family and friends.

With Truffle or OpenZeppelin CLI you can create an ERC20 without writing Solidity using Presets in OpenZeppelin Contracts:
Create an ERC20 without writing Solidity, using Truffle
Create an ERC20 without writing Solidity, using OpenZeppelin CLI

Alternatively you could Deploy a simple ERC20 token in Remix

For ERC777 I created a Simple ERC777 token example that you could experiment with.

With ERC777 you need to take into account reentrancy (see: Reentrancy After Istanbul)

Thankyou for your reply. I do want it to have value. I know it goes against all that is right and good, but I wAnt to rush this and have be proper. I am looking to create a local currency.

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I would advise against rushing, as designing tokenomics, testing, auditing and regulatory compliance all take time and are very important to keep you and your potential users safe.

If you are thinking about creating a token, you may first want to consider:

  • what is the purpose of the token?
  • why would someone need to use the token?
  • could the solution operate without a token?
  • could the solution operate using either the native currency of the blockchain (Ether) or an existing stable token instead of the token?
  • could the solution be cloned and have the token removed, yet still operate (without the token)?

As you plan for your token to potentially have value, your solution should have appropriate testing and auditing:

I would look at developing, testing and deploying your smart contracts using tools such as OpenZeppelin CLI or Truffle.

I suggest looking into getting appropriate advice on regulatory compliance.

You should also look at the design of your tokenomics of your token.

Yes. Perhaps this project is emblematic of my situation and the world’s. Late response to a serious dysfunction. Maybe it would be better to just use an established contract… but this gets pretty philosophical and on a deep root level of what it means to be human. I know that creating a free decentralized exchange between people is requisite. My thinking is that people must choose it for themselves. Right? This arena, the crypto space is elemental to that outcome. Most of my study has been big picture, I am not a specialist, I am an Industrial Designer, we are trained to design for any space.

…the output from fondu, it puts out 15 contracts related to the token. Are all of the parameters that you mentioned adjustable in those files? Perhaps some of my education here can come from testing those files with code adjustments? Or should I start with the simple code samples provided by openz?

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Hi @greenknight,

I would do both.

Have a play with the code output from Fondu.
It looks like it creates an ERC20 (TAOToken) and a Crowdsale (TAOCrowdsale). Both of which you could create yourself inheriting from OpenZeppelin Contracts implementations.

Also have a play with the code examples above.

I’d also encourage you to look at ERC721 as I think there are interesting areas to experiment with. (This was one of my experiments:

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Hi @greenknight,

One other area to look at is Personal tokens, I think the third style has possibilities for interesting experimentation.