CATs are coming next week!

Exciting news everybody! Next week we plan to launch the draft form of the CAT1 standard! While still technically a draft form (think beta), this is our first real implementation of CATs on the Chia blockchain, and we look forward to the community’s use of them! (CAT stands for Chia Asset Token, as previously covered here in a blog post.)

This announcement comes with some key bits of information:

  • This is an initial draft of the standard. This means it is subject to change, and while we don’t plan to make massive changes to anything, we do need to warn you there is a possibility of us needing to make changes that may be breaking, before the final standard is released. As such, while we encourage and look forward to the community creating their own CATs, please keep this risk in mind during the early days.
  • Anyone can make a CAT, but only a select CATs will be “Verified” in the Chia client. We plan to launch a few initial verified ones to test the system, and will release details at a later date in the coming days/weeks on the criteria and methods to verify your CAT. Rest assured CATs will work just fine and with full functionality without Verification!
  • IMPORTANT If you are running versions (1.2.7 and older* or 1.2.10 and newer, you are good to go (but we still encourage you to update to 1.2.11 or later if you have not!) However, if you are on 1.2.8 or 1.2.9 it’s important you update to the latest version if possible before the CATs launch. (By our metrics this is only a small 4-digit number of you but we still feel it’s important to mention.) If you do not update, while your node will function perfectly fine, if it falls out of sync by more than a few blocks, due to a known bug (since fixed in 1.2.10) it will be impossible for you to fully sync again without patching. Updating either before the roll-out (or after you experience this issue) will solve this for you however and it’s a non-permanent issue.
  • To go along with this announcement, on Tuesday Nov 16th at 9am PST we will be having a CATs AMA where the team will be on-hand to talk about the overall project and any questions you might have. Following the Q&A portion, we will hold a more technical focused session to go through the actual process on minting CATs yourself, for those who want to learn more. You can watch the AMA live on Zoom at this url: Launch Meeting - Zoom
  • Lastly, this announce will include a beta of a new stand-alone lightweight wallet that no longer requires its own synchronization! Please note that this wallet is an optional install, but will be required to see and interact with CATs.

Following this launch and AMA, we will be publishing developer documentation and videos that morning on the CATs1 standard as well, and as with the CAT1 standard itself, this is draft form and subject to changes and updates as needed (which we encourage and welcome the community’s feedback on improving as well!)

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If anyone is wondering wtf CAT is

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Hello,

I have read about it but did not understand it yet well. What will be the use of CAT1? Will it has a value? How is it related with XCH?

CAT1 is a standard that can be followed to create coins/tokens that are on the Chia blockchain but are not XCH, such as stablecoins.

There are two parts; first the shared CAT code which all CATs use and is what makes them a CAT. The second part is the TAIL of the CAT. The TAIL determines what kind of CAT it is (e.g. a USDc stablecoin or a marmot coin) and decides who can control the CAT e.g. increasing or reducing the supply of the CAT.

Briefly, with CAT anyone create and altcoin that is working on top of chia like Ethereum/Binance Chain/etc

Regards