RGB20 USDT Demo

DECLAIMER: This is just a demo for RGB20 on testnet, it's NOT the offical USDT of RGB20

Pre-request

To complete the demo, you need to setup the following toolchains:

1. Git
2. Rust
3. Sparrow
4. RGB-CLI

Also, you need to create two different wallets in Sparrow. Let's say alice and bob, and get some satoshis in these two wallets. You may get satoshis faucet from https://bitcoinfaucet.uo1.net/ and https://coinfaucet.eu/en/btc-testnet/

NOTE: Sparrow default is mainnet, so create wallet after restarting Sparrow in testnet.

Here are the tpub of wallets I created:

• Alice: tpubDCRYBMFMJcwYAd7g7GEdNzTnqg7k8wE2PQZ6NgXq2tJER3aWSK4sRNpje4nnvxC9Ffs2borWAgdQMDi8J8b4sXBQNqMnFxVWWVA6BswzGyU
• Bob: tpubDCeaDjmVbxPkLxvXgmdsTjGF55WWL4Kf1Z64eQstJAyqQ7DaBD9DDGo7Q26yxww5ifbFuELZcmxnM8LkJ1Xmij6itneguA5VKcqc5YbMbjz

RGB-CLI

Cause there's issue while making transfer, so we need to make a trivial change with source code and build rgb-cli from source.

First, clone it from Github:

$ git clone https://github.com/RGB-WG/rgb.git rgb-cli

Then, build it to downloading the dependencies:

$ cd rgb-cli
$ cargo build

After that, locate rgb-wallet source codes path, for me, it's: ~/.cargo/registry/src/index.crates.io-6f17d22bba15001f/rgb-wallet-0.10.9/src

Comment out line 157 in pay.rs:

                // .filter(|index| *index == RGB_NATIVE_DERIVATION_INDEX || *index == RGB_TAPRET_DERIVATION_INDEX)

Finally, install rgb command line:

$ cd rgb-cli
$ cargo install rgb-contracts --all-features --force --path .

For some reason, I failed with clone rgb-wallet lib source code and change its dependencies in rgb source codes on local machine. I know I can fork rgb-wallet into my repo, and modify it. Change rgb dependency to my repo, but i believe there must be a way to do it on local. Also, cause I'm not sure whether the filter is an issue or a feature. Therefore, I choose to make it in some kind nasty way. If anyone has good ideas, please let me know.

Create and import

To create a RGB20 contract, just clone this repo to you local machine. Then compile and run it.

$ git clone https://github.com/oneforalone/rgb20-usdt.git
$ cd rgb20-usdt
$ cargo run

Now, we are creating a RGB20 usdt contract, which stores in contracts fold.

Before importing contracts, let's import our wallets to rgb.

For Alice:

$ rgb -d .alice create default <alice-tpub>
$ rgb -d .alice import contracts/rgb20-usdt.contract.rgb

For Bob:

$ rgb -d .bob create default <bob-tpub>
$ rgb -d .bob import contracts/rgb20-usdt.contract.rgb

After that, we can inspect contracts state with rgb state command.

For Alice:

$ rgb -d .alice contracts
rgb:s6syetq-eN85tdbpb-hBut9K6F3-uFfjVZsJ6-WVYGv6FXa-UTwCnp

$ rgb -d .alice state rgb:s6syetq-eN85tdbpb-hBut9K6F3-uFfjVZsJ6-WVYGv6FXa-UTwCnp RGB20
Global:
  spec := (naming=(ticker=("RGB20"), name=("USDT"), details=1(("USD Tether Token"))), precision=8)
  data := (terms=(""), media=~)
  issuedSupply := (1000000000)
  created := (1697651102)

Owned:
  assetOwner:
    amount=1000000000, utxo=0018dc9fff99382ac228a6cbcbdddb0989329d85d95c1e354b74a488da324516:1, witness=~ # owner unknown

$ rgb -d .alice state rgb:s6syetq-eN85tdbpb-hBut9K6F3-uFfjVZsJ6-WVYGv6FXa-UTwCnp RGB20 -w default
Global:
  spec := (naming=(ticker=("RGB20"), name=("USDT"), details=1(("USD Tether Token"))), precision=8)
  data := (terms=(""), media=~)
  issuedSupply := (1000000000)
  created := (1697651102)

Owned:
  assetOwner:
    amount=1000000000, utxo=0018dc9fff99382ac228a6cbcbdddb0989329d85d95c1e354b74a488da324516:1, witness=~, derivation=*/0/0

For Bob:

$ rgb -d .bob contracts
rgb:s6syetq-eN85tdbpb-hBut9K6F3-uFfjVZsJ6-WVYGv6FXa-UTwCnp

$ rgb -d .bob state rgb:s6syetq-eN85tdbpb-hBut9K6F3-uFfjVZsJ6-WVYGv6FXa-UTwCnp RGB20
Global:
  spec := (naming=(ticker=("RGB20"), name=("USDT"), details=1(("USD Tether Token"))), precision=8)
  data := (terms=(""), media=~)
  issuedSupply := (1000000000)
  created := (1697651102)

Owned:
  assetOwner:
    amount=1000000000, utxo=0018dc9fff99382ac228a6cbcbdddb0989329d85d95c1e354b74a488da324516:1, witness=~ # owner unknown

Now we'are successfully create an USDT rgb20 token, and the owner is 0018dc9fff99382ac228a6cbcbdddb0989329d85d95c1e354b74a488da324516:1, which is belongs to Alice.

Transfer

There're about five steps in a complete transfer:

1. Create an invoice
2. Construct a psbt
3. Make a transfer
4. Accept transfer
5. Sign psbt and broadcast it

Let's say Alice need to send 1,000 USDT to Bob.

Create an invoice

To receive 1,000 USDT, Bob needs to create an invoice and send it to Alice.

$ rgb -d .bob invoice s6syetq-eN85tdbpb-hBut9K6F3-uFfjVZsJ6-WVYGv6FXa-UTwCnp RGB20 1000 tapret1st:42a3d5805a4f7e315bb5905c0dc0dd95914f5c97239b409360bf223a7d9dea0e:0
rgb:s6syetq-eN85tdbpb-hBut9K6F3-uFfjVZsJ6-WVYGv6FXa-UTwCnp/RGB20/1000+utxob:bm9pt3W-KCodqSqLq-UPXdsdv8f-f5nszKdEe-T4yZhw5sj-TcdG5G

The last arguments is an utxo of Bob, you can specify any utxo on chian.

Construct a psbt

Bob sent the invoice to Alice, and then Alice start to construct a psbt using Sparrow. Just create a simple transfer tx to send some satoshis to an address of herself. And save it before sign and broadcast. I save it in psbt/usdt-transfer.psbt. For some reason i don't know, we need also set-host with the psbt:

$ rgb -d .alice set-host psbt/usdt-transfer.psbt
PSBT file 'psbt/usdt-transfer.psbt' is updated with tapret1st host now set.

Make a transfer

After constructing a psbt file and set-host to it. Alice now can make a tranfser with the psbt and invoice provided by Bob:

$ rgb -d .alice transfer psbt/usdt-transfer.psbt rgb:s6syetq-eN85tdbpb-hBut9K6F3-uFfjVZsJ6-WVYGv6FXa-UTwCnp/RGB20/1000+utxob:bm9pt3W-KCodqSqLq-UPXdsdv8f-f5nszKdEe-T4yZhw5sj-TcdG5G transfer.rgb

The transfer is saved in transfer.rgb file, and need to send it to Bob waiting him to accept it.

Accept transfer

After receiving the transfer.rgb file, Bob could validate it before accepting:

$ rgb -d .bob validate transfer.rgb
Consignment has non-mined terminal(s)
Non-mined terminals:
- 26fbb878fa910068c7dc0b1cae2bef235f477ca095aa9b85eaeeb1a87adfe943
Validation warnings:
- terminal witness transaction 26fbb878fa910068c7dc0b1cae2bef235f477ca095aa9b85eaeeb1a87adfe943 is not yet mined.

The result show that Alice not publich the psbt and not mined yet. So, let's make Bob accept:

$ rgb -d .bob accept -f transfer.rgb
Consignment has non-mined terminal(s)
Non-mined terminals:
- 26fbb878fa910068c7dc0b1cae2bef235f477ca095aa9b85eaeeb1a87adfe943
Validation warnings:
- terminal witness transaction 26fbb878fa910068c7dc0b1cae2bef235f477ca095aa9b85eaeeb1a87adfe943 is not yet mined.

Transfer accepted into the stash

These show that Bob already accept the transfer.

Sign psbt and broadcast it

Now it's Alice's turn to sign the psbt file and broadcast it. Just load the psbt file with Sparrow, sign it, and broadcast it. And just waiting it mined.

After a few minutes, the psbt would mined on chain. In that time, Bob and Alice would get different outputs with rgb state and rgb validate.

For Alice:

$ rgb -d .alice state rgb:s6syetq-eN85tdbpb-hBut9K6F3-uFfjVZsJ6-WVYGv6FXa-UTwCnp RGB20
Global:
  spec := (naming=(ticker=("RGB20"), name=("USDT"), details=1(("USD Tether Token"))), precision=8)
  data := (terms=(""), media=~)
  issuedSupply := (1000000000)
  created := (1697651102)

Owned:
  assetOwner:
    amount=999999000, utxo=26fbb878fa910068c7dc0b1cae2bef235f477ca095aa9b85eaeeb1a87adfe943:0, witness=26fbb878fa910068c7dc0b1cae2bef235f477ca095aa9b85eaeeb1a87adfe943 # owner unknown
    amount=1000000000, utxo=0018dc9fff99382ac228a6cbcbdddb0989329d85d95c1e354b74a488da324516:1, witness=~ # owner unknown

For Bob:

$ rgb -d .bob state rgb:s6syetq-eN85tdbpb-hBut9K6F3-uFfjVZsJ6-WVYGv6FXa-UTwCnp RGB20
Global:
  spec := (naming=(ticker=("RGB20"), name=("USDT"), details=1(("USD Tether Token"))), precision=8)
  data := (terms=(""), media=~)
  issuedSupply := (1000000000)
  created := (1697651102)

Owned:
  assetOwner:
    amount=999999000, utxo=26fbb878fa910068c7dc0b1cae2bef235f477ca095aa9b85eaeeb1a87adfe943:0, witness=26fbb878fa910068c7dc0b1cae2bef235f477ca095aa9b85eaeeb1a87adfe943 # owner unknown
    amount=1000, utxo=42a3d5805a4f7e315bb5905c0dc0dd95914f5c97239b409360bf223a7d9dea0e:0, witness=26fbb878fa910068c7dc0b1cae2bef235f477ca095aa9b85eaeeb1a87adfe943 # owner unknown
    amount=1000000000, utxo=0018dc9fff99382ac228a6cbcbdddb0989329d85d95c1e354b74a488da324516:1, witness=~ # owner unknown

$ rgb -d .bob state rgb:s6syetq-eN85tdbpb-hBut9K6F3-uFfjVZsJ6-WVYGv6FXa-UTwCnp RGB20 -w default
Global:
  spec := (naming=(ticker=("RGB20"), name=("USDT"), details=1(("USD Tether Token"))), precision=8)
  data := (terms=(""), media=~)
  issuedSupply := (1000000000)
  created := (1697651102)

Owned:
  assetOwner:
    amount=999999000, utxo=26fbb878fa910068c7dc0b1cae2bef235f477ca095aa9b85eaeeb1a87adfe943:0, witness=26fbb878fa910068c7dc0b1cae2bef235f477ca095aa9b85eaeeb1a87adfe943 # owner unknown
    amount=1000, utxo=42a3d5805a4f7e315bb5905c0dc0dd95914f5c97239b409360bf223a7d9dea0e:0, witness=26fbb878fa910068c7dc0b1cae2bef235f477ca095aa9b85eaeeb1a87adfe943, derivation=*/0/0
    amount=1000000000, utxo=0018dc9fff99382ac228a6cbcbdddb0989329d85d95c1e354b74a488da324516:1, witness=~ # owner unknown

$ rgb -d .bob validate transfer.rgb
Consignment is valid

Vola, we just made it.

The RGB21 and RGB25 are just the same except some initial arguments. You may check the details with rgb-schemata repo.