Asset Registry
Understanding the Liquid Asset Registry
The Liquid Asset Registry
With the ability to create unlimited custom assets on Liquid, a critical question arises: how do users know which assets are legitimate? The Liquid Asset Registry solves this problem by providing a trusted source of information about assets issued on the Liquid Network.
The registry helps prevent fraud and confusion by allowing users to verify asset details before engaging in transactions.
Purpose of the Asset Registry
Asset Verification
The primary purpose of the registry is to verify the authenticity of assets. Since Liquid asset IDs are long hexadecimal strings, it's difficult for users to verify legitimacy just by looking at an ID. The registry connects these IDs to real-world entities.
Preventing Fraud
Without a registry, bad actors could create assets with names identical to legitimate assets, potentially tricking users into accepting counterfeit tokens. The registry helps prevent such impersonation.
Discovery
The registry provides a central place to discover legitimate assets on the Liquid Network, making it easier for users to find tokens they might be interested in.
How the Asset Registry Works
The Liquid Asset Registry operates on a few key principles:
- Domain Verification - Assets can be associated with a domain name that the issuer controls, providing a simple way to verify legitimacy.
- Public Database - The registry is a public database that anyone can query to get information about registered assets.
- Metadata - Asset issuers can provide metadata like logos, descriptions, and links to further information.
- Integration - Wallets and exchanges can integrate with the registry to automatically display verified information about assets.
A Note from Satoshi
Registering an Asset
If you're an asset issuer, you can register your asset by following these steps:
- Issue your asset on the Liquid Network
- Set up a domain verification file on a website you control
- Submit your asset details to the registry
- Wait for verification, which typically involves checking your domain proof
- Once verified, your asset will appear in the public registry
The domain verification is especially important as it creates a link between your digital asset and a real-world entity that users can recognize and trust.