🐕Mint (M)

Mint (M):

Mint transactions are used to create new units of an existing token.

• Type: D (Deploy)

• Action: M

• Fields:

  • token: The unique identifier for the token.

  • total: The number of tokens being minted.

Example OP_RETURN Data:

D M TOKEN_NAME 5000

Role of UTXOs:

• A new UTXO is created for the minted tokens.

• The minter's address receives a UTXO representing the minted amount, encoded with a value of 0.01 DOGE.

• Each UTXO represents a specific amount of the minted tokens.

• Each UTXO is also connected to the token name and amount, ensuring traceability and verification of the minted tokens.

Mint Transaction:

1. Extract OP_RETURN Data: Decode the hex-encoded string to extract token details.

2. Validate Fields: Ensure the token and total fields are present.

3. Update Token Supply: Increase the total supply of the token and record the minting event.