How do you burn tokens? I have a couple of ideas i want to implement on my new coin (which is going to blow up btw lol)
if i created a token and wanted half of all transaction fees to be burned how would i do this?
if someone paid to play a game i would want to burn the tokens they played
According to the ICRC-1 spec, “Transfers to the minting account act as burn transactions, removing tokens from the token supply. Burn transactions have no fee but might have minimal burn amount requirements.”
Also, “The minting account is also the receiver of the fees burnt in regular transfers.”
So, you can transfer tokens to the minting account to burn them, and by default all of the fees from transactions are burnt. What were you expecting to do with the other 50%?
See here: ICRC-1/standards/ICRC-1 at main · dfinity/ICRC-1 · GitHub
You could mint 50% of each transfer’s fee as a possible workaround, but where would it get minted to? Presumably a blackholed canister that does something interesting?
Another option to burn half the fees is to set up a canister that receives 100% of the fees, and the only way to get the fees is to ask it to burn half and send half out
This sounds like the best solution for what i am trying to do
Are you able to change the fee collector after deployment or not?
at the moment, when using the DFINITY reference implementation, this is not possible. at least that is what @jennifertran confirmed back then with the team, see How do we set up the ICRC-1 fee collector - #13 by jennifertran
@mathiasb please correct me if that has meanwhile changed, but I guess it is still the case.