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LSP7 - Digital Asset

This section is a work in progress.
Standard Document

LSP7 Digital Asset is a standard that aims to describe a fungible asset. The term fungible means that these assets are mutually interchangeable (e.g., one token has the same value as another token).

LSP7 Digital Assets are similar to ERC20 Tokens.

LSP7 Digital Asset is an interface standard, meaning it creates a joint base to use and interact with such assets. Contracts and clients can query and transfer such assets in the same way, using the same methods.

This standard was based on ERC20 and ERC777.

Divisible vs Non-Divisible

When creating an LSP7 Digital Asset, it is possible to define the token as divisible or non-divisible.

When creating a divisible token, the token can have decimals (up to 18). The token amounts can then be fractionals, and it is possible to mint or transfer less than one token (e.g., 0.3 tokens).

On the contrary, an LSP7 Digital Asset created as non-divisible means that one of such tokens cannot be divided into fractional parts. For instance, you cannot transfer 1/10th of a token, or 0.3 tokens, but only a whole token unit.

References