Wrapped TRC21 Naming Structure Revision Proposal

Archive TomoBridge
1

Current Issue

A common and recurring theme that I am noticing is the confusion between wrapped tokens of Ethereum native tokens as well as Bitcoin(BTC). Currently, in the TomoWallet app, wrapped tokens have no identifier to show that they are NOT the native tokens. Already this has led to detrimental confusion that has caused newcomers to lose their funds. For example, wrapped ETH is simply called ETH. It is the same for other wrapped tokens/coins such as YFI, VNDC, BTC, and DEC. Of course, there is a current warning when the wrapped TRC21 token is clicked but this is not enough

Proposal

Definition- Identifier: a character that is used to identify or refer to an element

I propose that all wrapped TRC21 tokens have an identifier that distinguishes them from their native ERC20 counterpart. The only instance where an identifier would not be needed is when a token has been issued on Tomochain Network i.e POMO, PUSD, etc… In addition, I also propose that when sending wrapped TRC21 tokens there should be a 2 step process that asks the individual to make sure that they are not sending to an Ethereum address before unwrapping.

For example:

  1. BTC —> tBTC

  2. ETH —> tETH

  3. YFI —> tYFI

  4. DEC —> tDEC

  5. USDT—> tUSDT

  6. VNDC —> tVNDC

Additional Notes

The mentioned proposal is intended to reduce the number of users directly withdrawing wrapped TRC21 tokens to the native wallets. A serious discussion needs to occur that addresses this issue because first impressions are very important and if the first experience a user has is losing their funds then this is not good for Tomochain’s reputation.

Any notes are greatly welcomed and encouraged! BTW TOMO team is really the best. We all really appreciate the work that you put into this project.

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