Payable Token

The five-minute read

One action, walked through

1. Open ERC 1363 and read the status line before the examples.
2. Write down the rule in one sentence. A fair version of that sentence is: Defines a token interface for ERC-20 tokens that supports executing recipient code after transfer or transferFrom, or spender code after approve.
3. Name the object that changes: GAS, MUST, ERC1363.
4. Ask what an old client, an old contract, or an offline counterparty does. If the document is silent, the silence is part of the design.

The argument, unpacked

What has to be true

• You are implementing ERC 1363 at the status the text itself states: Final.
• The object that has to change is GAS, MUST, ERC1363. A neighbouring document with a similar name is not this one.
• The standard does not enforce royalties, identity, or a price. If the transfer function does not check it, the chain will not.

What happened after the paper

The source marks this final. That is a statement about the text, not a promise that every wallet or node has shipped it. Later documents can narrow, replace, or ignore this one. Cite the number you mean.

What to check before you use the idea

• Which function in Payable Token actually moves or approves value?
• What happens on a callback, a zero amount, or a contract recipient that rejects?
• Which names does the text commit to: GAS, MUST, ERC1363?

Terms

ERC 1363

The public text titled Payable Token.

Final

The document's own label for how finished the text is. It is not a market fact.

The problem the paper names

A token that each contract invents from scratch does not transfer, approve, or display in any other contract. The cost of a shared interface is that the interface's holes become everyone's holes.

What the design proposes

• Defines a token interface for ERC-20 tokens that supports executing recipient code after transfer or transferFrom, or spender code after approve.
• Standard functions a token contract and contracts working with tokens can implement to make a token Payable.
• transferAndCall and transferFromAndCall will call an onTransferReceived on a ERC1363Receiver contract.

How the mechanism is specified

• Taken from the specification, the next constraint is: Standard functions a token contract and contracts working with tokens can implement to make a token Payable.
• Locate GAS, MUST, ERC1363 in ERC 1363 and apply it to one transaction or call.
• Then check the failure the class of rule always has: a node that did not upgrade, a reverted call, a replayed signature, or a peer that does not speak the message.

What this page does not treat as proven

• An application standard is not consensus. A contract can ignore it and still be a valid account.
• The standard does not enforce royalties, identity, or a price. If the transfer function does not check it, the chain will not.
• The source marks this final. That is a statement about the text, not a promise that every wallet or node has shipped it.

Why a venture studio still reads it

Use ERC 1363 when a pitch says 'Payable Token' without saying whether the rule is consensus, policy, or an interface. The number is the citation. The pitch is not.