adding restrictions to token movements

+2 votes
I am about to create a white listable currency in Ethereum, that is a fiat backed Stablecoin, and I wanted to find out if i can do it in multichain. The main requirement is that for any set month, each user address has an inward allowance that cannot be exceeded - that allowance can can be updated at any time by admin. So a user can have money sent to his address, but the transaction total must not exceed that allowance total for the month. How would that be done easily in Multichain?
asked May 5, 2020 by mark

1 Answer

0 votes
I'm afraid this kind of transaction rule can't be implemented in a simple way in MultiChain. But there is a way to make it possible: to have incoming funds to an address not be immediately spendable, and for the recipient to have to conduct a second transaction (which you could automate in the application) to make the funds spendable, by using up a "receiving limit" which is stored in some inline metadata output which the user has control over. The spendability limits could be enforced on-chain with a transaction filter.

The ability to change these limits would be tricky right now, but a new smart filter related feature we are currently implementing, and which will be available in the next protocol upgrade, will make it easy.
answered May 6, 2020 by MultiChain