It's day 5: the final day of ERC-777 week! 🎰🎉
This week we've discussed the pros & cons of the ERC-777 token standard. Today I'll cover things that developers should know about to build with ERC-777, and what the next steps are for this standard.
This week we've discussed the pros & cons of the ERC-777 token standard. Today I'll cover things that developers should know about to build with ERC-777, and what the next steps are for this standard.
https://twitter.com/dmihal/status/1367470469721575428
ERC-777 is well supported by the @OpenZeppelin contract templates.
You can easily use their ERC777 template, just like you use the ERC20 template.
One small difference is that ERC777 requires an array for default operators, which I usually set to an empty array.
You can easily use their ERC777 template, just like you use the ERC20 template.
One small difference is that ERC777 requires an array for default operators, which I usually set to an empty array.
One of the best parts of ERC-777 is building applications using receive hooks.
Contracts that receive ERC777s need to:
- register in the ERC-1820 registry
- implement the tokensReceived() function
I made a simple contract that you can inherit for this:
gist.github.com/dmihal/7020e24…
Contracts that receive ERC777s need to:
- register in the ERC-1820 registry
- implement the tokensReceived() function
I made a simple contract that you can inherit for this:
gist.github.com/dmihal/7020e24…
Speaking of, you'll need ERC1820 deployed to any chain that uses ERC777s.
This is already deployed to all major EVM chains, but if you're building in Hardhat, you should add this package to ensure that ERC1820 is available in your test chain.
npmjs.com/package/hardha…
This is already deployed to all major EVM chains, but if you're building in Hardhat, you should add this package to ensure that ERC1820 is available in your test chain.
npmjs.com/package/hardha…
A few little quirks of ERC777 that developers should know:
1. All 777s have 18 decimals, 777 uses the granularity() function instead. So if you're wrapping an ERC20 with less than 18 decimals, you need to do some quick conversion.
1. All 777s have 18 decimals, 777 uses the granularity() function instead. So if you're wrapping an ERC20 with less than 18 decimals, you need to do some quick conversion.
2. The transfer() function will send tokens to any address, but the send() function will fail if you're sending to a contract that doesn't support ERC777 hooks.
3. The mint function also will fail if you're sending to an unsupported contract.
3. The mint function also will fail if you're sending to an unsupported contract.
4. As we've discussed many times, ERC777 transfers can introduce re-entrancy vulnerabilities. So make sure your transfers use the Check-Effects-Interactions pattern, and use re-entrancy guards if necessary.
Don't be the next LendFme!
Don't be the next LendFme!
That wraps up my developer tips!
So what are the next steps for ERC777?
The transition to Layer 2 is a big opportunity to finally embrace the many improvements ERC777 has to offer and make dapps easier for end users.
So what are the next steps for ERC777?
The transition to Layer 2 is a big opportunity to finally embrace the many improvements ERC777 has to offer and make dapps easier for end users.
ERC777 has already been added to the Arbitrum bridge, and I've got an open PR to add it to Optimism.
If you've got thoughts about L2 bridges, feel free to take a look!
github.com/ethereum-optim…
If you've got thoughts about L2 bridges, feel free to take a look!
github.com/ethereum-optim…
I hope these tweets this week have been helpful!
If you're a developer, I'd recommend learning more about ERC777 and how it can improve your projects.
And if any of you have any thoughts or questions, feel free to reach out! 🙂
If you're a developer, I'd recommend learning more about ERC777 and how it can improve your projects.
And if any of you have any thoughts or questions, feel free to reach out! 🙂
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