SECOREP Contract Structure

SECOREP is a special type of token used in the SecureSECO DAO system. Like other tokens, it follows a specific standard known as ERC-20 (opens in a new tab). This standard defines a common list of rules that all Ethereum tokens must follow.

One unique aspect of SECOREP is its non-transferable nature. Unlike many tokens, it can't be freely sent and received.

Additionally, SECOREP has functions to create (mint) and destroy (burn) tokens. However, only special accounts with "auth permissions" can perform these actions. In our case, currently only the Diamond Governance Plugin has these permissions, so only the DAO community can decide to mint and burn tokens using proposals.

Being part of the diamond system allows for greater flexibility. For instance, if the DAO community agrees, SECOREP could be upgraded to a more complex token standard, ERC-1155 (opens in a new tab).

Further reading

To learn more about the ERC-20 standard and the IERC20Metadata interface specification, visit these links: Ethereum token standard (opens in a new tab) and IERC20Metadata interface specification (opens in a new tab).