Relysia Infrastructure and Tokens
Relysia was build from the ground up with token support in mind. You can let your users mint and share tokens without them requiring to own any BitcoinSV base currency.
As platform, we focus on a portfolio of reliable and stable protocols to ensure the best experience for both developers and their users. In our initial release, we thus launch on STAS tokens that have the unique ability to only require the execution of bitcoin script smart contracts.
STAS tokens are native bitcoin script tokens that get directly enforced by smart contracts. On of their main benefits over existing protocols is their long term stability and maintenance free functioning. STAS tokens technology belongs to the publicly TAAL mining company.
Smart contracts on the Bitcoin blockchain (written in script) are very similar to normal transactions, with the difference that they can only be transferred if certain conditions are met. Since they are normal transaction, they have the same limitations as a standard bitcoin transaction. The advantage is that a STAS token natively scales with improvements of the underlying network, but also shares the same dust limitations.
A transaction (and thus UTXO) can only be created with at least one satoshi within the STAS contract, while the minimum transfer limits itself are at this point 350 satoshi (dust limit). When creating a token with 1 million supply, and thus 1 million satoshis, one could only send a minimum 350 of those tokens at a time (unless miner API keys are used). To have tokens where each token can be transferred individually, each token needs to have 350 or more satsPerToken.
STAS is a universal protocol, that can handle both NFTs or Tokens, depending on configuration. The meta field of the STAS token is fully configurable, with any JSON data input your application requires. In schema, you can define whether your metadata follows a standard format or not. A meta data format is NFT1.0 that has a media field with B protocol link, media type (MIME format), and altURI (a classical image url).
One important distinction is splittable = true/false. Splittable determines, whether stas tokens can be divided (1500 --> 500 + 1000) and merged (500 + 1000 --> 1500) or not (1 --> 1). Splittable should be false for NFTs, to give them a serialization (e.g. 1/30, 2/30) while also ensuring you never accidentally receive 0.5 NFT or 1.5 NFTs.
Each smart contract STAS UTXO takes a number of satoshis as we learned earlier. The issuance of STAS tokens can use up a significant supply of Bitcoin that are subsequently locked up in the smart contract. When the token is no longer required, the used satoshis are not lost but can be released again by redeeming (thus dissolving) the STAS smart contract. STAS tokens are redeemed by sending them back to their contract issuance address (with special script attached, to avoid accidental destruction).