Paytokens is a protocol for the creation and use of decentralised financial instruments such as asset exchanges, contracts for difference and dividend payments. It uses Litecoin as a transport layer. The contents of this repository, paytokensd, constitute the reference implementation of the protocol.

The Paytokens protocol specification may be found at https://github.com/Paytokens/Paytokens.

• Python 3
• Python 3 packages: apsw, requests, appdirs, prettytable, python-dateutil, json-rpc, tornado, flask, Flask-HTTPAuth, pycoin, pyzmq(v2.2+), pycrypto, lockfile, python-bitcoinlib (see this link for exact working versions)
• Litecoind

NOTE: This section covers manual installation of paytokensd. If you want more of an automated approach to paytokensd installation for Windows and Linux, see this link.

In order for paytokensd to function, it must be able to communicate with a running instance of Litecoind or Litecoin-Qt, which handles many Litecoin‐specific matters on its behalf, including all wallet and private key management. For such interoperability, Litecoind must be run with the following options: -txindex=1 -server=1. This may require the setting of a JSON‐RPC password, which may be saved in Litecoind’s configuration file.

paytokensd needs to know at least the JSON‐RPC password of the Litecoind with which it is supposed to communicate. The simplest way to set this is to include it in all command‐line invocations of paytokensd, such as ./paytokensd.py --rpc-password=PASSWORD ACTION. To make this and other options persistent across paytokensd sessions, one may store the desired settings in a configuration file specific to paytokensd.

Note that the syntaxes for the countpartyd and the Litecoind configuraion files are not the same. A Litecoind configuration file looks like this:

rpcuser=bitcoinrpc
rpcpassword=PASSWORD
testnet=1
txindex=1
server=1

However, a paytokensd configuration file looks like this:

[Default]
bitcoind-rpc-password=PASSWORD

Note the change in hyphenation between rpcpassword and rpc-password.

If and only if paytokensd is to be run on the Litecoin testnet, with the --testnet CLI option, Litecoind must be set to do the same (-testnet=1). paytokensd may run with the --testcoin option on any blockchain, however.

Sometimes the underlying package requirements may change for paytokensd. If you build and installed it from scratch, you can manually update these requirements by executing something like:

    pip install --upgrade -r pip-requirements.txt 

The test suite is invoked with py.test in the root directory of the repository. Litecoind testnet and mainnet must run on the default ports and use the same rpcuser and rpcpassword. Do not include the following values ​​in paytokensd.conf: bitcoind-rpc-connect, bitcoind-rpc-port, rpc-host, rpc-port and testnet.

The command‐line syntax of paytokensd is generally that of ./paytokensd.py {OPTIONS} ACTION {ACTION-OPTIONS}. There is a one action per message type, which action produces and broadcasts such a message; the message parameters are specified following the name of the message type. There are also actions which do not correspond to message types, but rather exist to provide information about the state of the Paytokens network, e.g. current balances or open orders.

For a summary of the command‐line arguments and options, see ./paytokensd.py --help.

• Major version changes require a full rebuild of the database.
• Minor version changes require a database reparse.
• Most protocol changes are retroactive on testnet.

• Quantities of divisible assets are written to eight decimal places.
• Quantities of indivisible assets are written as integers.
• All other quantities, i.e. prices, odds, leverages, feed values and target values, fee multipliers, are specified to four decimal places.
• paytokensd identifies an Order, Bet, Order Match or Bet Match by an ‘Order ID’, ‘Bet ID’, ‘Order Match ID’, or ‘Bet Match ID’, respectively. Match IDs are concatenations of the hashes of the two transactions which compose the corresponding Match, in the order of their appearances in the blockchain.

The following examples are abridged for parsimony.

• Server

  The server command should always be running in the background. All other commands will fail if the index of the last block in the database is less than that of the last block seen by Litecoind.

• Burn

  burn --source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --quantity=.5

• Send divisible or indivisible assets

   send --source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --quantity=3 --asset=BBBC
   --to=n3BrDB6zDiEPWEE6wLxywFb4Yp9ZY5fHM7
  

• Buy LTC for XPT

   order --source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --get-quantity=10 --get-asset=LTC
   --give-quantity=20 --give-asset=XPT --expiration=10 --fee_required=.001
  

• Buy BBBC for LTC

   order --source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --get-quantity=10 --get-asset=BBBC
   --give-quantity=20 --give-asset=LTC --expiration=10 --fee_provided=0.001
  

• Buy XPT for BBBC

   order --source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --get-quantity=10 --get-asset=XPT
   --give-quantity=20 --give-asset=BBBC --expiration=10
  

• LTCPay

   ltcpay --source=-source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --order-match-id=092f15d36786136c4d868c33356ec3c9b5a0c77de54ed0e96a8dbdd8af160c23
  

• Issue

  issuance --source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --quantity=100 --asset='BBBC'

  issuance --source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --quantity=100 --asset='BBBQ' --divisible

• Broadcast

   broadcast --source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --text="Litecoin price feed" --value=825.22
   --fee-multiplier=0.001
  

  Note: for some users paytokensd has trouble parsing spaces in the --text argument. One workaround is to add an additional set of quotes. For example, --text='"Litecoin price feed"'.

• Bet

  Equal/Not Equal Bet:

  Example: Bet on Super Bowl Feed. Denver vs. Seattle. Feed value of 1 means Seattle Wins. Feed value of 2 means Denver Wins. This command places a 1 XPT bet on the Super Bowl Feed for Seattle to win, paying out 2 to 1. The bet will expire in 100 blocks and the settlement value of the bet is based on the first feed update after the deadline timestamp of February 3, 2014 1:39 PM US Eastern Standard Time (UTC-0500)

   bet --source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --feed-address=n3BrDB6zDiEPWEE6wLxywFb4Yp9ZY5fH --bet-type=Equal
   --deadline=2014-02-03T13:39:00-0500 --wager=1 --counterwager=2 --target-value=1 --expiration=100
  

  Contract for Difference:

  Example: Bet on Litecoin Price Feed. This command places a bearish (short) 1 XPT wager on the price of LTC/USD with 2X leverage. The bet will expire in 100 blocks and the settlement value of the bet is based on the first feed update after the deadline timestamp of February 3, 2014 1:39 PM US Eastern Standard Time (UTC-0500)

   bet --source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --feed-address=n3BrDB6zDiEPWEE6wLxywFb4Yp9ZY5fH --bet-type=BearCFD --deadline=2014-02-03T13:39:00-0500 --wager=1 --counterwager=1 --leverage=10080 --expiration=100
  

• Rock-Paper-Scissors

  Open a Rock-Paper-Scissors like game with arbitrary possible moves (Must be an odd number greater or equal than 3). Until you make an rpsresolve transaction, your move is stored as an hash and keep secret.

  Example: Play rock-paper-scissors-spock-lizard (http://en.wikipedia.org/wiki/Rock-paper-scissors-lizard-Spock):

   rps --source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --possible-moves=5 --move=2 --wager=1 --expiration=100
  

  Keep well the random number generated, you need it to resolve the game after matching:

   rpsresolve --source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --move=2 --random=adc5eadf9cb698ff6f2410d76131a4ee --rps-match-id=c68ffe144952977b94f8d7b49a1c7be7a4bb522c56f2ffc5aefa78ae0f9799b003b0f79d59ba660138583277b8267301a1030577790b945c4e8f845f19c23ca2
  

• Cancel

   cancel --source=-source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --offer-hash=092f15d36786136c4d868c33356ec3c9b5a0c77de54ed0e96a8dbdd8af160c23
  

• Dividend

   dividend --source=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --quantity-per-share=1 --asset=MULTIPOOLSTOCK
  

• Market

  The market action prints out tables of open orders, open bets, feeds, and order matches currently awaiting Litecoin payments from one of your addresses.

  It is capable of filtering orders by assets to be bought and sold.

  Example:

  To filter the market to only show offers to sell (give) LTC:

   market --give-asset=LTC
  

  To filter the market to only show offers to buy (get) LTC:

   market --get-asset=LTC
  

  To filter the market to only show offers to sell LTC for XPT:

   market --give-asset=LTC --get-asset=XPT
  

• Asset

  The asset action displays the basic properties of a given asset.

• Address

  The address action displays the details of of all transactions involving the Paytokens address which is its argument.