I kind of disagree with you on this one,
@michaelsuttonil ππ
Yes, the "interpretation" happens off-chain because nodes do not track KRC-20 balances.
However, the token inscriptions are permanently recorded on the Kaspa BlockDAG.
You cannot hack it, delete it, or shut it down. From that perspective, KRC-20 tokens are still
#Kaspa L1 tokens.
β‘οΈ Why do I think so?
The token never leaves the Kaspa
#BlockDAG, it is embedded in the reveal transaction's signature_script.
Even if Kasplex goes down, the original inscriptions remain on-chain.
The on-chain deployment cannot be patched or undone by later inscriptions. The data remains on Kaspa L1, while indexers like Kasplex interpret it and track balances according to the protocol rules.
A different token with the same ticker cannot replace the original deployment.
β‘οΈ What happens if Kasplex goes down?
- Kasplex going down may affect market pages, wallet balances, and "Send KREX" flows, but all inscriptions remain permanently recorded on the BlockDAG.
- You cannot undeploy a ticker by shutting down the indexer. Only visibility is affected.
- Anyone can run a compatible indexer, reprocess the original deployment, and rebuild the balances. It is a reindex, not a new genesis.
- A second KREX deployment cannot replace the original under the first-deployment-wins rules.
- The original deployment cannot be rewritten, and the supply limits cannot be changed or minting reopened through new inscriptions.
β‘οΈExamples based on KREX and its on-chain data:
Genesis (deploy reveal)
afaee1f959e643a198da278365fcd1eae7f65920eee269fed9e79ac509369770
kaspa.stream/transactions/afβ¦
- Accepted: 14 Nov 2024, 20:20:43 UTC (1731615643628)
- Kasplex hashRev / opScoreAdd: 953225710000
- Native version-0 transaction
- payload: null
- Reveal input 0 unlocks the following JSON:
{
"lim": "2100000000000",
"max": "2100000000000000000",
"op": "deploy",
"p": "krc-20",
"pre": "0",
"tick": "krex"
}
According to these deployment parameters:
- Max supply: 2,100,000,000,000,000,000 (2.1 quintillion base units, equivalent to 21 billion tokens with 8 decimals)
- Mint limit: 2,100,000,000,000 base units per mint
- Premine: 0
- Decimals: 8
- Kasplex status: deploy:1, mint:1000000, state: finished.
Commit (P2SH Lock):
d2c6c19787e4d615ae2474d545dc76de849846590837ffdc49ef961c3009d27b
kaspa.stream/transactions/d2β¦
Deployer Wallet:
kaspa.stream/addresses/kaspaβ¦
β‘οΈ Even more on-chain data:
Same + scripts
api.kaspa.org/transactions/aβ¦
Commit
api.kaspa.org/transactions/dβ¦
Accepting chain block
api.kaspa.org/blocks/e899264β¦
Including block
api.kaspa.org/blocks/ed8ef7aβ¦
β‘οΈ To summerize:
Correct me if I am wrong, please, but from my understanding, KRC-20 tokens are still Kaspa L1 tokens, although they do not have the new programmable logic that the upcoming KCC20 tokens will introduce.
They still live on the Kaspa BlockDAG, so from my perspective, whatever is hardcoded on-chain is already part of L1. ... and that is the beauty of
#KASPA π
Best regards
- Artur, Krex dev π€π€