215 lines
11 KiB
Markdown
215 lines
11 KiB
Markdown
# DeepDive into Liquid: Part II - Asset Creation and Configuration
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This is a multipart DeepDive that will focus on the Liquid Sidechain. It will be released in 3 Parts:
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* [Part I](https://stacker.news/items/399400): Overview, Installation, and first Peg-In
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* Part II (this): Asset Creation and Configuration
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* Part III: Advanced Topics and Peg-out
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## Assets
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In Part I, we succesfully Pegged-In our BTC and received L-BTC, now lets use that L-BTC to do some interesting things with Asset Issuance:
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* Let's begin by checking out these 2 commands[^1]:
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- `$ sudo ./scripts/app compose elements exec node elements-cli -rpcuser=$E_RPCUSER -rpcpassword=$E_RPCPASS getwalletinfo`
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"balance": {"bitcoin": 0.00149155}
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- `$ sudo ./scripts/app compose elements exec node elements-cli -rpcuser=$E_RPCUSER -rpcpassword=$E_RPCPASS dumpassetlabels`
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{"bitcoin": "6f0279e9ed041c3d710a9f57d0c02928416460c4b722ae3457a11eec381c526d"}
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This is telling us that `bitcoin` is a label for an asset that has the UUID of `6f0279e9ed041c3d710a9f57d0c02928416460c4b722ae3457a11eec381c526d`. Everything in Liquid is an 'Asset' (including L-BTC) and each of these Assets can have different features.
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Looking up this value on [https://blockstream.info/liquid/assets](https://blockstream.info/liquid/asset/6f0279e9ed041c3d710a9f57d0c02928416460c4b722ae3457a11eec381c526d) we can see some info about it:
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This shows us the total amount of L-BTC in circulation, additionally we can see how much was Pegged-In, Out, and Burned. Most notably, this confirms that everything is in balance. The Circulating Supply = (PEG_IN - PEG_OUT - BURNED), so no debasement has happened.
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### Issuing our own Asset
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Issuing assets is pretty straight forward, it can be roughly broken down into 3 main steps[^3]:
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1. Generate a Legacy Address[^4] and PUBKEY for that address
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2. Generate a Contract Hash
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3. Issue the Asset
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* STEP 1: Let's generate our legacy address and set the output to a variable
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`$ LEG_ADDRESS=$(sudo ./scripts/app compose elements exec node elements-cli -rpcuser=$E_RPCUSER -rpcpassword=$E_RPCPASS getnewaddress "" legacy`)
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lq1qq2s92z0uq78kd4gfepua6qvfwx40g4lqqer9e3tzrr0j04ugyzsed39mnh9wvuhw0hmaqy5mxs9egqrr7j3rx8j2sdyun9m90
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- `$ export LEG_ADDRESS="lq1qq2s92....."`
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- `$ sudo ./scripts/app compose elements exec node elements-cli -rpcuser=$E_RPCUSER -rpcpassword=$E_RPCPASS getaddressinfo $LEG_ADDRESS | jq '.pubkey'`
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025aa49d444a150c99c904c8e779e5317aff4aee15ee9171f450e14af9dd8b8780
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- `$ export PUBKEY="025aa49d444a150c99c904c8e779e5317aff4aee15ee9171f450e14af9dd8b8780"`
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* STEP 2: In order to generate the contract hash, it requires a few steps - so I've simplified it by making a bash script. Copy this into a file named `gen_asset_contract.sh` and mark as executable
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```
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#!/bin/bash
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#set -x
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shopt -s expand_aliases
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### FILENAME: gen_asset_contract.sh
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### USAGE: ./gen_asset_contract.sh PUBKEY
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if [ -z "$1" ]
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then
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echo "Please supply PUBKEY before running"
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exit 1
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fi
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PUBKEY=$1
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###EDIT THESE VALUES###
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DOMAIN="nulldata.org"
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NAME="StackerNews-Demo1"
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PRECISION=8
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TICKER="SND-1"
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CONTRACT='{"entity":{"domain":"'$DOMAIN'"},"issuer_pubkey":"'$PUBKEY'","name":"'$NAME'","precision":'$PRECISION',"ticker":"'$TICKER'","version":'0'}'
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CONTRACT_HASH=$(echo -n "${CONTRACT}" | sha256sum | sha256sum | sed 's/ .*//g')
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#Generate a byte-aligned reveresed CONTRACT_HASH for use in asset Creation
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TEMP=$CONTRACT_HASH
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LEN=${#TEMP}
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until [ $LEN -eq "0" ]; do
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END=${TEMP:(-2)}
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CONTRACT_HASH_REV="$CONTRACT_HASH_REV$END"
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TEMP=${TEMP::$((${#TEMP} - 2))}
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LEN=$((LEN-2))
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done
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### END EDITING HERE ###
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echo CONTRACT=$CONTRACT
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echo CONTRACT_HASH=$CONTRACT_HASH
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echo CONTRACT_HASH_REV=$CONTRACT_HASH_REVT_HASH_REV=$CONTRACT_HASH_REV
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```
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* Now we can use the script we saved before to generate the contract:
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- `$ ./gen_asset_contract.sh $PUBKEY`
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CONTRACT={"entity":{"domain":"nulldata.org"},"issuer_pubkey":"025aa49d444a150c99c904c8e779e5317aff4aee15ee9171f450e14af9dd8b8780","name":"StackerNews-Demo1","precision":8,"ticker":"SND-1","version":0}
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CONTRACT_HASH=df4bd5aec71f808f78b752cbaac783019fa20268265f66baa406e4202b77e4a1
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CONTRACT_HASH_REV=a1e4772b20e406a4ba665f266802a29f0183c7aacb52b7788f801fc7aed54bdf
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* Finally export those variables via bash to use later:
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```
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export CONTRACT={"entity":{"domain":"nulldata.org"},"issuer_pubkey":"025aa49d444a150c99c904c8e779e5317aff4aee15ee9171f450e14af9dd8b8780","name":"StackerNews-Demo1","precision":8,"ticker":"SND-1","version":1}
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export CONTRACT_HASH=7d6bf3e3228fd00e9591c4c6bd1163d088a387e95d29fdfcf2e4e5035a137a94
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export CONTRACT_HASH_REV=947a135a03e5e4f2fcfd295de987a388d06311bdc6c491950ed08f22e3f36b7d
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```
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* STEP 3: Now Issuing our own asset is straight-forward, as its a single line command in the client. Let's issue 10 new tokens and set the supply to be fixed (no re-issuance)
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- `$ sudo ./scripts/app compose elements exec node elements-cli -rpcuser=$E_RPCUSER -rpcpassword=$E_RPCPASS issueasset 10 0 true $CONTRACT_HASH_REV`
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{
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"txid": "6ef6b04b34e27d79c0b66d817bc23a81bc6a56b289b6a45a28b71489adca0825",
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"vin": 0,
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"entropy": "570671c45afd4b9bfd085e5e965333e32f3988d3b68d4baf276ff3f833f8f531",
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"asset": "b142fb9ec2c7821f025f3ae806cfbec6e9faccbf876a531e8a207b45bc6a285a",
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"token": "f13a9858f5acec84f8195d95c764c839812deeee297ca654ba1f25d650e1b8ea"
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}
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### Exploring our new Asset
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* Checking out our wallet we see:
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- `$ sudo ./scripts/app compose elements exec node elements-cli -rpcuser=$E_RPCUSER -rpcpassword=$E_RPCPASS getwalletinfo`
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"balance": {"b142fb9ec2c7821f025f3ae806cfbec6e9faccbf876a531e8a207b45bc6a285a": 10.00000000,
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"bitcoin": 0.00140447,}
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* We can see our wallet has 10 of our assets[^2], lets checkout what the [Liquid network knows about it](https://blockstream.info/liquid/asset/b142fb9ec2c7821f025f3ae806cfbec6e9faccbf876a531e8a207b45bc6a285a):
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* So publiclly we know the following about our new asset:
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- It cannot be re-issued
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- It has only been issued once
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- However both the issued amount and the circulating supply has been hidden from us.
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This Confidential Asset has ultimate privacy, but sometimes its useful to have assets where people can verify the total amount in circulation.
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### Issuing a Non-Confidential Asset
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* Let's create another asset and this time choose a different option (specifically, lets create this asset unblinded):
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- `$ sudo ./scripts/app compose elements exec node elements-cli -rpcuser=$E_RPCUSER -rpcpassword=$E_RPCPASS issueasset 10 0 false $CONTRACT_HASH_REV`
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{
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"txid": "f27c99793f685fa4109ecec68d79819b077946427a489c5301ccbde136d4e070",
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"vin": 0,
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"entropy": "7df9c90b4fea440c43f5a92f24089999d50ee7af828afb7a3dd577015689ee2b",
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"asset": "409b1d0cb614822ea703576b71958ab051d66ff6708b368f378f2ffea458d15a",
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"token": "81ab87384b9317c21085b580b129a6cd13a42ced5e7f5ae6ce2638c62c6986ca"}
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...and checking again what [the Liquid network knows about it](https://blockstream.info/liquid/asset/409b1d0cb614822ea703576b71958ab051d66ff6708b368f378f2ffea458d15a)
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* Now we can see the total issued amount / supply[^2]
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* Let's try sending this new unblinded asset to another wallet (my Blockstream Green mobile wallet) and see what is visible on the network.
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- `$sudo ./scripts/app compose elements exec node elements-cli -named -rpcuser=$E_RPCUSER -rpcpassword=$E_RPCPASS sendtoaddress address="VJL6Thq......" amount=1.0 fee_rate=1 assetlabel="03d63d6c...."`
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edf087368703bbb99054b4c5d7d1a85a9fbc4ad1ba9eac97c71463eb822dea3b
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* Looking up this transaction on the [block explorer, we see](https://blockstream.info/liquid/tx/edf087368703bbb99054b4c5d7d1a85a9fbc4ad1ba9eac97c71463eb822dea3b):
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This is interesting: So although the transaction is visible, we can't see what was actually transferred (even though the details of the asset are visible, *it is still hidden inside the transaction*). Further, where is my Green Wallet address (ie. VJL6Th...)? We can see 3 output addresses, presumably these are: Change, Fee, and Receipiant...but which is my Green Wallet?
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* Let's look up my [Green Wallet address directly in the explorer](https://blockstream.info/liquid/address/VJL6ThqfHJdJXu4oqbsyZCDZuEupptqfRciySLdRLfRqSjLLKCPrt12Ki7a82XNZZMCf5gRfQ8b5rRdu):
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So now this shows us that the *Confidential Address: VJL6Thq....* corresponds to the *Unconfidential Address: GprWqLK....* Through the magic of one-way hashes, if we know the "Confidential" address we can then dervive its public address....however just by looking at the public blockchain, there is no way to reverse that hash.
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Now, lets look at how things look on the Green mobile wallet:
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We can see that we've received 100,000,000 'sats' of our custom asset. However, notice how there is no labels. The elements for L-BTC, USDT, etc show with ticker symbols...whereas ours is showing just the contract address....not very user friendly. Let's see if we can remedy.
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# Registering our Asset
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The publication of asset metadata info on Liquid works on a `.well-known` system where specific files are published on a webserver that you control. There are a few different steps to accomplish this, so lets begin
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* The first step is we need to generate a `legacy` address in case we ever want to delete the asset from the registry later[^3]
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- `$ sudo ./scripts/app compose elements exec node elements-cli -rpcuser=$E_RPCUSER -rpcpassword=$E_RPCPASS getnewaddress "" legacy`
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lq1qq2s92.....
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* Set this address to a variable for use later and generate the public key.
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- `$ export DELETE_ADDRESS="lq1qq2s92....."`
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- `$ sudo ./scripts/app compose elements exec node elements-cli -rpcuser=$E_RPCUSER -rpcpassword=$E_RPCPASS getaddressinfo $DELETE_ADDRESS | jq '.pubkey'`
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025aa49d444a150c99c904c8e779e5317aff4aee15ee9171f450e14af9dd8b8780
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- `$ export PUBKEY="025aa49d444a150c99c904c8e779e5317aff4aee15ee9171f450e14af9dd8b8780"`
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* We need to set some variable and then generate a json 'contract' file
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[^1]: The values E_RPCUSER and E_RPCPASS, where environmental variables we set in Part I
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[^2]: Like in bitcoin, 1 integer unit is 100,000,000 base units (not sats, but equivalent concept)
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[^3]: Technically just running `elements-cli issueasset 10 0` is enough to issue an asset, however there will be limitations later on when trying to register the asset, burn, remove, etc.
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[^4]: Using a legacy address for this task imposes no real implications to your security since its only used to remove assets from the registry. Its possible to do this with a non-legacy address, but more steps are involved and we will need to use other tools rather than what's already built-in to Elements node, so we will just use a legacy address for this. |