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The tokenfactory module allows any account to create a new token with the name factory/{creator address}/{subdenom}. Because tokens are namespaced by creator address, this allows token minting to be permissionless, due to not needing to resolve name collisions. A single account can create multiple denoms, by providing a unique subdenom for each created denom. Once a denom is created, the original creator is given "admin" privileges over the asset. This allows them to:

  • Mint their denom to any account
  • Burn their denom from any account
  • Create a transfer of their denom between any two accounts
  • Change the admin. In the future, more admin capabilities may be added. Admins can choose to share admin privileges with other accounts using the authz module. The ChangeAdmin functionality, allows changing the master admin account, or even setting it to "", meaning no account has admin privileges of the asset.