Cryptionary

Minting Baton

1. SLP

The Minting Baton is a unique token associated with a specific Simple Ledger Protocol (SLP) token. It grants the holder the ability to create (mint) more of that specific token.

1.1

"If Alice creates an SLP token called 'AliceCoin', she can also create a Minting Baton for 'AliceCoin'. As long as she holds this baton, she can mint more 'AliceCoins' whenever she wants."

2. control

Control of the Minting Baton determines who can mint new tokens. The baton can be transferred between wallets, allowing different entities to gain the ability to mint new tokens.

2.1

"If Alice transfers the Minting Baton for 'AliceCoin' to Bob, then Bob gains the ability to mint new 'AliceCoins'."

3. finality

If a token's Minting Baton is not created or is destroyed (burned), no more instances of that SLP token can be created. This makes the total supply of that token fixed.

3.1

"If Alice decides to burn the Minting Baton for 'AliceCoin', no more 'AliceCoins' can be created, making the total supply of 'AliceCoins' fixed."

4. strategy

The decision to create, transfer, or burn a Minting Baton can be part of a token's issuance strategy. It can influence the token's scarcity, distribution, and control.

4.1

"By keeping the Minting Baton for 'AliceCoin', Alice can control the supply of 'AliceCoins' and potentially influence its value."

* All terms and definitions may update as the Cryptionary improves.

All terms

Hodl ICO IEO Instamine JOMO Know Your Customer Lambo Lightning Network Limit Order Liquidity Locktime Majority Attack Market Cap Market Order Masternode Maximalist Maximum Supply Mempool Mining Mining Pool Minting Baton←Mnemonic Mooning 🌕Multi Signature Node OP_RETURN Opcode Orphan Block Premining Privacy Coins Private Key Proof of Stake Proof of Work Public Key Pump and Dump Rekt Replace By Fee Satoshi Nakamoto Satoshis Schnorr Signatures