Money Button, powered by Fabriik, has added token protocol support for developers and end-users. Developers can use the Money Button API to create, send and receive tokens. With the current release end-users can send and receive tokens inside any Money Button application or inside the main wallet at moneybutton.com.
We have created a simple token protocol for our initial token support called Fabriik Simple Protocol for Tokens (SFP). SFP uses a minimalist script and relies on communications with a server to authorize every transaction.
This design makes it possible to solve all business and regulatory issues we face. SFP is useful for many applications, but we don’t want to stop here. We are also working to add support for other token protocols as we intend to support every protocol with ecosystem adoption.
All token use-cases will be supported over time. Money Button can only be used with utility tokens at this time. Securities and other financial assets are disallowed.
Simple Fabriik Protocol for Tokens (SFP) tracks token transfers on-chain but relies on a central server to authorize transactions. This design was chosen because it is both exceptionally simple and because it allows users of the protocol to enforce arbitrary business and regulatory rules with ease.
For instance, operators of an SFP server can prohibit transactions determined to be illegal. Assets are named with a paymail, such as email@example.com.
The paymail provides a protocol-independent name for an asset compatible with many underlying token protocols. SFP is the first protocol to use this convention, but we expect all protocols to use this convention to achieve interoperability between token protocols. The paymail of the asset is used to identify and query the operator of the asset.
All transactions must be signed both by the sender and by the operator. For more information, please see our documentation at docs.moneybutton.com.