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State Transitions

This document describes the state transition operations pertaining markers:

Undefined​

The undefined status is not allowed and its use will be flagged as an error condition.

Proposed​

The proposed status is the initial state of a marker. A marker in the proposed status will accept changes to supply via the mint/burn methods, updates to the access list, and state transitions when called by the address set in the manager property.

On Transition:

  • Proposed is the initial state of a marker by default. It is not possible to transition to this state from any other.

Next Status:

  • Finalized
  • Cancelled

Finalized​

The finalized state of the marker is used to verify the readiness of a marker before activating it.

Requirements:

  • Marker must exist
  • Caller address must match the manager address on the marker
  • Current status of marker must be Proposed
  • Supply of the marker must meet or exceed the amount of any existing coin in circulation on the network of the denom of the marker. (This will only apply )

On Transition:

  • Marker status is set to Finalized
  • A marker finalize typed event is dispatched

Next Status:

  • Active
  • Cancelled

Active​

An active marker is considered ready for use.

On Transition:

  • Marker status is set to Active
  • Requested coin supply is minted and placed in the marker account
  • For markers with a fixed_supply the Invariant checks are performed in begin_block
  • Permissions as assigned in the access list are enforced for any management actions performed
  • The manager field is cleared. All management actions require explicit permission grants.
  • A marker activate typed event is dispatched

Next Status:

  • Cancelled

Cancelled​

A cancelled marker will have no coin supply in circulation. Markers may remain in the Cancelled state long term to prevent their denom reuse by another future marker. If a marker is no longer needed at all then the Destroyed status maybe appropriate.

Requirements:

  • Caller must have the delete permission assigned to their address or
  • Caller must be the manager of the marker (applies only to proposed markers that are Cancelled)
  • The supply of the coin in circulation outside of the marker account must be zero.

On Transition:

  • Marker status is set to Cancelled
  • A marker Cancelled typed event is dispatched

Next Status:

  • Destroyed

Destroyed​

A destroyed marker is denoted as available for subsequent removal from the state store by clean up processes. Markers in the destroyed status will be removed in the Begin Block ABCI handler at the beginning of the next block (v1.3.0+).

On Transition:

  • All supply of the coin denom will be burned.
  • Marker status is set to Destroyed
  • Marker will ultimately be deleted from the KVStore during the next ABCI Begin Block (v1.3.0+)

Next Status:

  • None