Point Factory

Whenever an agreement is reached with a company (when the company’s application gets approved), an ERC-20 token smart contract gets deployed for it. This contract is that company’s on-chain point contract.

The creation of such a smart contract happens through a Point Factory contract.

Once an admin of Monet approves a company’s application, the backend uses Monet address to call a function “create()” in the factory, passing the details like the name, symbol, and decimals of the point (from the company’s application). The returned value of this function is the company’s freshly-deployed point contract address.

Moreover, the Point Factory smart contract keeps track of different point smart contracts’ addresses, along with the public key of the signer that Monet uses for signing messages in the website level* (more on that in Points-Conversion - Website Level).