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TRC: TRC10 Precision issue #33
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if we add set_precision Transaction, the node needs to update all the data in the account database that should be a big cost. |
I understand, This is an Issue that seems to be growing. As exchanges open, the liquidity of tokens on new exchanges is impacted by this for older tokens. How would we implement this? |
Why not just create a new token and do the swap? |
Not everyone wants to change the precision. Not everyone will do it at the same time. I do not know how long the node needs to process 25,000 accounts. (Tokenholder-e.g., Terc) Insert Precision 0 and once the chance to change it. Maybe that will make 2-3 owners. Since the intervention of Proposal 14 was more serious for Wallet Apps and Exchanges. |
set_precision is something that definitely needs addressing, yes a new token could just be created but for tokens already on exchanges it's difficult especially as there are some exchanges still not known to the community, we will end up with both tokens being traded and only one will have real value, it needs to be as easy as possible for the end user |
I don't like the idea of allowing @CTJaeger keep in mind, that first you need to find accounts to process, so entire database needs to be processed. @dave2702 exchanges typically use their own systems for trading - it's not 'on chain'. Those systems also has to be updated after |
The inability to set precision on an old token is a growing issue. Today, tokens exists on many exchanges (some of which are not known) tens of thousands of accounts that cant be distributed to because of the carry over of fractionalized rewards, and as new exchanges list the liquidity of tokens themselves puts them in a difficult position. Not allowing this a is a significant hinderance to building a sustainable token that already have longstanding community support. Although it seems logical enough to issue a new token, this can lead to problems, as mentioned Scamming, limited coverage of those that need to be reissued to, confusion amongst the community and the inability to notify more significant parties involved. |
@nuljui setting precision after token issuance, also creates many problems. I don't agree with "reissue issue" - each token issuer can do a "snapshot" on given block, and then airdrop new token to holders of the old one. Scams, confusion and notification problems are present in all scenarios. As mentioned before, token my be listed somewhere and without notification to all parties and synchronized "update" of all external systems, there are obvious attack vectors. I was thinking about multiple scenarios. One not mentioned before is to combine set-precision operation with something similar to reverse stock split. For example, before split:
We set precision to 2, and in the same time do a reverse split by 100.
Balance remains unchanged, precision is actually stored only once (with asset issue contract data) so it's easy to update. This solution is nice from technical point of view, but very hard from user perspective - it brings lot of confusion and potentially even fear about lost tokens. It is also problematic for exchanges. |
Just as side note: on-chain messaging/broadcasting system would be cool for such events. If token issuer could broadcast (or even message one by one) all token users, and the message could be displayed directly in the wallets, it would be pretty helpful. |
@tzdybal the total supply will be changed and the num people holder also be changed. |
I have a idea,
Message UpdateAssetPrecisionContract {
If it already exists or precision != 0 returns false processing failed, If it does not exist and precision == 0, then only UpdateAssetPrecisionStore is updated, key is id, value is precision When querying asset information, need to set the asset's precision and total assets according to whether there is asset information in UpdateAssetPrecisionStore.
Then generate a new mapped asset (original balance * 10^precision, v2 new asset key is precision_ old asset id)
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@lvs007 I like the idea of updating account information only on first access/usage. |
Hello everyone, I'm just checking in on the dialogue, to see if there is anything else thats needed to address this? |
Everyone can help me to recover my funds I scam now 800trx .. I need money :( |
This issue was closed due to inactivity. If you are still pursuing it, feel free to reopen it and respond to any feedback. |
Tokens originally created on the Tron Blockchain, prior to the approval of the proposal "allow the TRC-10 token transfer in smart contracts" were not able to set a "precision" value. As such all of tokens created are set to a default precision value of 0. We recommend allowing tokens from prior to this period the opportunity to set their precision value.
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