Fungible Entangler

Strata has another primitive called Fungible Entangler. This is a tool for swapping a fungible token 1-to-1 for a different token. This primitive is used to enable token offerings where the sale is optionally reversible, i.e. after purchasing tokens through a token offering, they can be swapped back for the coins they were purchased with.

An entangler consists of two token stores, a parent and a child. Swaps can be done either from the parent to the child or vice versa. A swap consists of depositing a token to one store and withdrawing an equal amount from the other store.

Configuration

To configure a fungible entangler, you need:

• amount - The amount of tokens you'd like to initially deposit to the parent for swap liquidity.
• parentMint - The mint of the parent token.
• childMint - The mint of the child token.

Let's create a fungible entangler to allow users to swap an old token for a new token.

Start by creating two tokens to use:

var { mint: newMint } = await marketplaceSdk.createManualToken({ metadata: new DataV2({ // Max name len 32 name: "New Token", symbol: "NTOKEN", uri: "", sellerFeeBasisPoints: 0, creators: null, collection: null, uses: null, }), decimals: 0, amount: 1000, }) var { mint: oldMint } = await marketplaceSdk.createManualToken({ metadata: new DataV2({ // Max name len 32 name: "Old Token", symbol: "OTOKEN", uri: "", sellerFeeBasisPoints: 0, creators: null, collection: null, uses: null, }), decimals: 0, amount: 50, });

var { mint: newMint } = await marketplaceSdk.createManualToken({
  metadata: new DataV2({
    // Max name len 32
    name: "New Token",
    symbol: "NTOKEN",
    uri: "",
    sellerFeeBasisPoints: 0,
    creators: null,
    collection: null,
    uses: null,
  }),
  decimals: 0,
  amount: 1000,
})

var { mint: oldMint } = await marketplaceSdk.createManualToken({
  metadata: new DataV2({
    // Max name len 32
    name: "Old Token",
    symbol: "OTOKEN",
    uri: "",
    sellerFeeBasisPoints: 0,
    creators: null,
    collection: null,
    uses: null,
  }),
  decimals: 0,
  amount: 50,
});

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Create a Fungible Entangler

Let's create a fungible entangler to offer swaps between the old token and new token

var { childEntangler, parentEntangler } = await fungibleEntanglerSdk.createFungibleEntangler({ amount: 1000, parentMint: newMint, childMint: oldMint, })

var { childEntangler, parentEntangler } = await fungibleEntanglerSdk.createFungibleEntangler({
    amount: 1000,
    parentMint: newMint,
    childMint: oldMint,
  })

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Swaps

Swaps can be done in either direction by any user, provided there is enough liquidity on the other side.

await fungibleEntanglerSdk.swapChildForParent({ childEntangler, parentEntangler, amount: 50, }) await fungibleEntanglerSdk.swapParentForChild({ childEntangler, parentEntangler, amount: 50, })

await fungibleEntanglerSdk.swapChildForParent({
  childEntangler,
  parentEntangler,
  amount: 50,
})

await fungibleEntanglerSdk.swapParentForChild({
  childEntangler,
  parentEntangler,
  amount: 50,
})

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