RIF Token

RIF Name Service (RNS) implements the RIF Directory Protocol (RDP) which recommends the usage of the RIF Token to stake at name auctions and also paying for name maintenance rent.

To interact with RNS, it’s important to understand the nature of the RIF Token.

Token Name RIF
Total Supply 1,000,000,000 RIF
Contract Testnet Address 0xd8c5adcac8d465c5a2d0772b86788e014ddec516 (see RNS Testnet section)
Contract Mainnet Address 0x2acc95758f8b5f583470ba265eb685a8f45fc9d5
Contract Type ERC677

ERC677 token standard

An ERC20 token transaction between a regular/non-contract address and contract are two different transactions: You should call approve on the token contract and then call transferFrom on the other contract when you want to deposit your tokens into it.

ERC677 simplifies this requirement and allows using the same transfer function. ERC677 tokens can be sent by calling transfer function on the token contract with no difference if the receiver is a contract or a wallet address, since there is a new way to notify the receive contract of the transfer.

An ERC677 token transfer will be the same as an ERC20 transfer. On the other hand, if the receiver is a contract, then the ERC677 token contract will try to call tokenFallback function on receiver contract. If there is no tokenFallback function on receiver contract, the transaction will fail.

RIF transfer methods

  • Approve and transfer:
      function approve(address _spender, uint256 _value) public returns (bool)
      function transfer(address _to, uint256 _value) public returns (bool)
    
  • Transfer and call:
      function transfer(address _to, uint256 _value, bytes data)
    

    Parameters

    • _to: address: Contract address.
    • _value: uint256: Amount of RIF tokens to send.
    • data: bytes: 4-byte signature of the function to be executed, followed by the function parameters to be executed with encoded as a byte array.

As explained in the Registrar section, both bid submission and rent payment can be executed through the ERC677 transfer methods.