Can a colony own multiple tokens?

colonynetwork

#1

Question from #projects

Can a colony own multiple tokens?


#2

Insofar as a Colony has an address, yes, it can own plenty of different token types.

The only real limitation with respect to tokens and Colony is that every colony needs to pick just one token that will be the native token – meaning that receiving this token through the completion of a task grants the user reputation within the colony.

But other tokens can be added to tasks, and any colony may transact in any number of tokens they wish.


Managing user permissions and wallet funding with Colony
#3

@gichiba when you say a colony needs to pick one token to be the native token, does that mean users can import and use an existing ERC20 token to become a native token?


#4

That’s correct. The native token’s address is set at colony creation. A colony may own any number of tokens, but only one is tracked and used for managing reputation