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Update erc-7818.md
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SamWilsn authored Nov 26, 2024
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## Abstract

Introduces an extension for `ERC20` tokens, which facilitates the implementation of an expiration mechanism. Through this extension, tokens have a predetermined validity period, after which they become invalid and can no longer be transferred or used. This functionality proves beneficial in scenarios such as time-limited bonds, loyalty rewards, or game tokens necessitating automatic invalidation after a specific duration. The extension is crafted to seamlessly align with the existing `ERC20` standard, ensuring smooth integration with the prevailing token smart contract while introducing the capability to govern and enforce token expiration at the contract level.
Introduces an extension for [ERC-20](./eip-20.md) tokens, which facilitates the implementation of an expiration mechanism. Through this extension, tokens have a predetermined validity period, after which they become invalid and can no longer be transferred or used. This functionality proves beneficial in scenarios such as time-limited bonds, loyalty rewards, or game tokens necessitating automatic invalidation after a specific duration. The extension is crafted to seamlessly align with the existing [ERC-20](./eip-20.md) standard, ensuring smooth integration with the prevailing token smart contract while introducing the capability to govern and enforce token expiration at the contract level.

## Motivation

This extension facilitates the development of `ERC20` standard compatible tokens featuring expiration dates. This capability broadens the scope of potential applications, particularly those involving time-sensitive assets. Expirable tokens are well-suited for scenarios necessitating temporary validity, including
This extension facilitates the development of [ERC-20](./eip-20.md) standard compatible tokens featuring expiration dates. This capability broadens the scope of potential applications, particularly those involving time-sensitive assets. Expirable tokens are well-suited for scenarios necessitating temporary validity, including

- Bonds or financial instruments with defined maturity dates
- Time-constrained assets within gaming ecosystems
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The keywords “MUST”, “MUST NOT”, “REQUIRED”, “SHALL”, “SHALL NOT”, “SHOULD”, “SHOULD NOT”, “RECOMMENDED”, “MAY”, and “OPTIONAL” in this document are to be interpreted as described in RFC 2119.

Implementers of this **REQUIRED** inheritance `ERC20` interface and **MUST** have all of the following functions and all function behavior **MUST** meet the specification.
Implementers of this **REQUIRED** inheritance [ERC-20](./eip-20.md) interface and **MUST** have all of the following functions and all function behavior **MUST** meet the specification.

```solidity
// SPDX-License-Identifier: CC0-1.0
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## Rationale

The rationale for developing an expirable `ERC20` token extension is based on several key requirements that ensure its practicality and adaptability for various applications to
The rationale for developing an expirable [ERC-20](./eip-20.md) token extension is based on several key requirements that ensure its practicality and adaptability for various applications to

### Compatibility with the existing [ERC-20](./erc-20.md) standard.
The extension should integrate smoothly with the `ERC20` interface, This ensures compatibility with existing token ecosystems and third-party tools like wallets and blockchain explorers.
The extension should integrate smoothly with the [ERC-20](./eip-20.md) interface, This ensures compatibility with existing token ecosystems and third-party tools like wallets and blockchain explorers.

### Flexible interface for various implementation.
The smart contract should be extensible, allowing businesses to tailor the expiration functionality to their specific needs like expiry in bulk or each token independent expire, whether it’s dynamic reward systems or time-sensitive applications.
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