PixelPlex has proposed an Open Token Standard to make it easier for wallets and applications to add support for tokens on Canton.
Adding a token can involve asking its issuer for software packages and connection details, then maintaining that information by hand. The draft sets out a common way for issuers to publish what another team needs to get started.
Under the proposal, each issuer would provide a token information page, downloadable software packages and notices explaining upgrades or changes. Developers could see which packages are current, which are planned and which are no longer available.
A check on Canton’s ledger would confirm that the issuer created the token’s publication contract and endorsed its web address. Developers would still review the software they install. Publishing a package would not mean it had passed a security audit.
The design also lets issuers link to each other’s publications after both sides agree and complete the checks. A developer could follow those connections to discover other tokens, without relying on a single central directory.
PixelPlex’s plan includes a reusable token implementation compatible with both versions of Canton’s token standard. Issuers could use it as supplied or adapt it for their own rules, giving new projects a starting point instead of having to build every component themselves.
Participation would be optional for each token. Existing transfer and settlement processes would stay in place, and tokens that do not adopt the new format would continue working as before.
The Open Token Standard proposal remains a draft. A reference implementation and tests checking that implementations follow the standard are required before it can reach final status.
