A redeemable voucher token: only the owner can hand units out, and a holder redeems them back to the owner with a message attached.
Historical Significance
A one-way token, which is what most real-world vouchers are: issued by one party, spent back to that party, and not transferable between holders. It is a useful counterexample to the assumption that a balance mapping implies a currency, and the message carried into the Redeem event shows an early use of the log as an application's own record rather than as a notification.
Context
Deployed in November 2015, months before ERC-20 fixed what a token was expected to do. With no standard to conform to, a contract holding balances could restrict transfers however its author liked, and this one restricts them to the issuer.
Key Facts
Description
A voucher rather than a currency. Transfers can only be made by the owner, so units move outward from a single account and holders cannot trade them among themselves. A holder spends them through redeem(uint256, string), which returns the units to the owner and emits Redeem(address, uint256, string), putting the redeemer, the amount and a message of their choosing into the log.
Both paths delete a holder's entry once the balance reaches zero, so an account that has spent everything leaves no record in storage. The owner is fixed at 0x125244b5700dee9c20259282701d305873fde7f8.
The redemption message is the point of the design: the log, not the balance, is what the issuer reads to find out what a voucher was spent on.
Heuristic Analysis
The following characteristics were detected through bytecode analysis and may not be accurate.
Frontier Era
The initial release of Ethereum. A bare-bones implementation for technical users.
Bytecode Overview
External Links
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