TL;DR
- AIP-63 Launch: Aptos has officially launched the Coin to Fungible Asset Migration on its mainnet, introducing the new fungible asset standard, AIP-63, which replaces the traditional coin standard.
- Enhanced Functionality: The new standard allows for more seamless minting, transfer, and customization of fungible assets, significantly improving the Aptos ecosystem.
- Action Required: Ecosystem members must upgrade smart contracts and update off-chain UIs to include both coin and fungible asset balances, ensuring smooth migration and interoperability.
Aptos has reached a significant milestone with the official launch of the Coin to Fungible Asset Migration on its mainnet. This development introduces the new fungible asset standard, AIP-63, which replaces the traditional coin standard.
1/ 🎉 Coin to Fungible Asset Migration is officially live on Aptos Mainnet!
The new fungible asset standard allows for more ✔️seamless minting, ✔️ transfer and ✔️customization of fungible assets for a variety of use cases on @Aptos.
— Aptos Labs (@AptosLabs) August 7, 2024
The new standard promises more seamless minting, transfer, and customization of fungible assets, marking a pivotal step in the adoption process with substantial implications for the Aptos ecosystem.
What is AIP-63 Coin to Fungible Asset Migration?
Aptos Improvement Proposal (AIP) 63 enables projects and partners within the Aptos ecosystem to migrate from Coin to Fungible Asset without disrupting interoperability. This is achieved by automatically creating a deterministic fungible asset paired for each coin type.
With AIP-63 now live on the mainnet, builders are encouraged to take the following actions:
- On-chain: Upgrade smart contracts to the Fungible Asset standard. Existing code using 0x1::coin will continue to function seamlessly.
- Off-chain (urgent): Update the balanced view to include both the coin balance and the paired fungible asset balance in off-chain UIs.
As an increasing number of projects shift from Coins to Fungible assets, the compatibility of fungible assets that aren’t linked to a coin type will diminish within the broader ecosystem.
Action Required
Members of the Aptos ecosystem are urged to adopt and test the new standard promptly. The adoption progress will be closely monitored across the ecosystem. Once mass adoption is achieved, the Aptos framework will enable automatic migration from CoinStore<CoinType> to the PrimaryFungibleStore. Additionally, all new projects on Aptos will exclusively implement the Fungible Asset Standards moving forward.
Aptos and Stacks Join Forces to Drive Bitcoin Innovation
In related news, Aptos Labs and Stacks have announced a collaboration on new initiatives following discussions between Neil Harounian and Brittany Laughlin. The talks focused on forming a new working group and having the Aptos Foundation become a Signer for Stacks.
This collaboration seeks to boost Bitcoin development by introducing cutting-edge solutions and resources, representing a major leap forward in blockchain technology. Both Harounian and Laughlin expressed their enthusiasm for this collaboration, emphasizing their shared goal of advancing the capabilities and ecosystem surrounding Bitcoin.
The creation of a new working group is a key component of this effort, pooling expertise, and resources from both Aptos and Stacks to drive forward innovative projects.
