Mina Fungible Tokens & zkCloudWorker

The fundemental component of a blockchain ecosystem is “token structure”.

This article is about the Mina Fungible Tokens and how a user can generate a fungible token with no-code tool called zkCloudWorker.

zkCloudWorker, apart from being a no-code fungible token deploy tool, offers many more unique features. We will examine it in more detail in the next post.

1. Mina Fungible Tokes and RFCS-0014

Fungible tokens on the Mina blockchain follow a structured standard that enables users to create, transfer, and manage digital assets efficiently.

The implementation of Mina’s fungible token standard aligns with RFC14, providing a unified approach to token creation and interaction within the ecosystem.

rfcs/0014-fungible-token-standard.md at main · o1-labs/rfcs

This ensures compatibility with wallets, dApps, and other blockchain tools, allowing seamless integration into various applications. Developers can use smart contracts to define token rules, including minting, burning, and administrative controls, ensuring tokens can operate under customizable conditions.

To create a fungible token on Mina, developers interact with smart contracts using Mina’s tooling and APIs.

The process begins with deploying an admin contract, followed by defining the token’s characteristics such as its symbol, decimal places, and metadata URI.

These contracts handle core functionalities, including transferring tokens between users and executing transactions efficiently without increasing the blockchain’s size.

One of the key advantages of Mina’s fungible tokens is their ability to leverage zero-knowledge proofs for transaction validation. This ensures that even as tokens are transferred between accounts, sensitive details such as transaction amounts and sender/receiver identities remain private while still being verified by the network.

This privacy-preserving feature makes Mina’s fungible tokens ideal for applications that require confidentiality, such as financial transactions and identity-based verifications.

The Mina ecosystem also supports a tool called zkCloudWorker, which simplifies token deployment and management through APIs.

This means that even non-technical users can create and distribute their own tokens without needing deep knowledge of smart contracts or zero-knowledge proofs. The automation and accessibility provided by zkCloudWorker further enhance the usability of Mina’s fungible tokens in real-world applications.

2. What is zkCloudWorker?

https://docs.zkcloudworker.com/

zkCloudWorker is a platform that simplifies blockchain development by providing a set of tools and APIs for deploying and managing cryptographic applications.

Specifically for Mina, zkCloudWorker enables users to launch, manage, and interact with fungible tokens without needing deep knowledge of Mina’s underlying cryptographic framework.

zkCloudWorker’s Custom Token Launchpad allows developers and non-technical users to create tokens effortlessly. The goal is to provide a no-code or low-code experience for users who want to launch custom assets on Mina without handling complex zk-SNARK implementations manually.

Features of zkCloudWorker:
-> Token Launchpad: Deploy custom fungible tokens without writing extensive smart contract code.
-> Automated zk-SNARK Proofs: Handles zero-knowledge proof generation in the background.
-> Developer-Friendly API: Offers a robust API for managing Mina tokens programmatically.
-> Integration with Mina dApps: Supports seamless connection with Mina-based applications.

3. MinaTokens API Calls

https://docs.minatokens.com/reference/launchtoken

The MinaTokens API provides developers with a straightforward way to interact with fungible tokens on Mina. It enables the deployment, minting, transfer, and retrieval of token information.

Custom Token Launchpad - zkCloudWorker

Example API Calls:

a) Deploying a Fungible Token

curl --request POST \
     --url https://minatokens.com/api/v1/token/launch \
     --header 'accept: application/json' \
     --header 'content-type: application/json' \
     --data '{
       "adminContract": "standard",
       "symbol": "MYTOKEN",
       "decimals": 9,
       "uri": "https://example.com/mytoken"
     }'

b) Minting Tokens

curl --request POST \
     --url https://minatokens.com/api/v1/token/mint \
     --header 'accept: application/json' \
     --header 'content-type: application/json' \
     --data '{
       "tokenId": "TOKEN_ID",
       "recipient": "B62q...",
       "amount": 1000
     }'

c) Transferring Tokens

curl --request POST \
     --url https://minatokens.com/api/v1/token/transfer \
     --header 'accept: application/json' \
     --header 'content-type: application/json' \
     --data '{
       "tokenId": "TOKEN_ID",
       "sender": "B62q...",
       "recipient": "B62p...",
       "amount": 500
     }'

4. Mina Fungible Token Development

To develop and deploy a fungible token on Mina, follow these steps:

-> Install the Required Dependencies

npm install mina-fungible-token

-> Deploy the Token Contract

import { Mina, PrivateKey, PublicKey, AccountUpdate, UInt8, Bool } from 'o1js';
import { FungibleToken, FungibleTokenAdmin } from 'mina-fungible-token';

const deployer = PrivateKey.random();
const contract = PrivateKey.random();
const admin = PrivateKey.random();
const fee = 1000000;
const token = new FungibleToken(contract.toPublicKey());
const adminContract = new FungibleTokenAdmin(admin.toPublicKey());
const deployTx = await Mina.transaction(
  {
    sender: deployer.toPublicKey(),
    fee,
  },
  async () => {
    AccountUpdate.fundNewAccount(deployer.toPublicKey(), 3);
    await adminContract.deploy({ adminPublicKey: admin.toPublicKey() });
    await token.deploy({
      symbol: "MYTOKEN",
      src: "https://example.com/mytoken"
    });
    await token.initialize(admin.toPublicKey(), UInt8.from(9), Bool(false));
  }
);
await deployTx.prove();
deployTx.sign([deployer, contract, admin]);
await deployTx.send();

-> Mint Tokens

curl --request POST \
     --url https://minatokens.com/api/v1/token/mint \
     --header 'accept: application/json' \
     --header 'content-type: application/json' \
     --data '{
       "tokenId": "TOKEN_ID",
       "recipient": "B62q...",
       "amount": 1000
     }'

-> Transfer Tokens

curl --request POST \
     --url https://minatokens.com/api/v1/token/transfer \
     --header 'accept: application/json' \
     --header 'content-type: application/json' \
     --data '{
       "tokenId": "TOKEN_ID",
       "sender": "B62q...",
       "recipient": "B62p...",
       "amount": 500
     }'

Thanks for reading…

X : blockofchain