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+# Open Token Sale Contract
+
+* Author: MrStahlfelge
+* Status: Proposed
+* Created: 29-August-2022
+* Last edited: 29-August-2022
+* License: CC0
+* Forking: not needed
+
+## Description
+
+This EIP proposes an open token sell offer contract with the following features:
+
+* partial sells are possible, seller can set a unit amount
+* implementing UIs can set an optional UI fee that is paid on withdrawals of revenue
+* contract is flexible and can be used by bots to match against other contracts within a transaction (but see section Caveats)
+* the sell can be cancelled, which can also be used to withdraw already collected revenue
+
+## Motivation
+
+Ergo supports native tokens on the blockchain, a feature that is widely used by projects building
+on Ergo and users as well. Naturally, projects want to sell their tokens to fund themselves, and
+users want to buy and sell tokens.
+Exchanging, purchasing and selling tokens is right now possible via the following ways:
+
+* dApps that have not specified a standard open contract via an EIP
+* [EIP-0014 DEX contacts](eip-0014.md) for AMM and order based DEX
+* [EIP-0022 Auction contract](eip-0022.md) for auctioning a certain amount of tokens at best price, min price and immediate buy possible
+* [EIP-0031 Babel fees](eip-0031.md), a token buy offer contract for a variable amount of tokens at a fixed price, partial buys possible
+
+An open token sell contract is missing so far.
+
+## Smart contract specification
+
+Here is the smart contract's source code in ErgoScript which will be used to protect the offer sell box:
+```scala
+{
+   // R5: The seller's ergo tree
+   // R6: Coll[Long] defining token price per unit in nanoerg, unit
+   // R7: UI fee in thousand
+   // R8: UI fee ErgoTree
+   // R4: used for box recreation
+   val seller = SELF.R5[SigmaProp].get
+   val priceConfig = SELF.R6[Coll[Long]]
+   val pricePerUnit = priceConfig.get(0)
+   val unitAmount = priceConfig.get(1)
+   val uiFeePerThousand = SELF.R7[Long].getOrElse(0L)
+   val uiFeeAddressOptional = SELF.R8[Coll[Byte]]
+   val recreatedSellBoxIndex: Option[Int] = getVar[Int](0)
+
+   // token is bought
+   val isSold = if (recreatedSellBoxIndex.isDefined && SELF.tokens.size > 0) {
+     val tokenToSell = SELF.tokens(0)
+     val newSellBox = OUTPUTS(recreatedSellBoxIndex.get)
+     val tokenInSellBox: (Coll[Byte], Long) = if (newSellBox.tokens.size > 0) newSellBox.tokens(0) else (tokenToSell._1, 0L)
+     val tokensSold = tokenToSell._2 - tokenInSellBox._2
+     val unitsSold = tokensSold / unitAmount // this might be wrong when tokensSold can't be divided completely - thus we check again later
+
+     val ergAmountToPay = unitsSold * pricePerUnit
+
+     newSellBox.R5[SigmaProp].get == seller && // preserve...
+              newSellBox.R6[Coll[Long]].get(0) == pricePerUnit && //...the...
+              newSellBox.R6[Coll[Long]].get(1) == unitAmount && // ...original...
+              newSellBox.R7[Long].getOrElse(0L) == uiFeePerThousand && // ...box...
+              newSellBox.R8[Coll[Byte]] == uiFeeAddressOptional && // ...settings
+              newSellBox.propositionBytes == SELF.propositionBytes && // ...and script
+              unitsSold * unitAmount == tokensSold && // prevent rounding down attacks
+              tokenInSellBox._1 == tokenToSell._1 && tokenInSellBox._2 >= tokenToSell._2 - tokensSold && // preserve tokens
+              newSellBox.value >= (SELF.value + ergAmountToPay) && // check the actual payment
+              ergAmountToPay > 0 &&
+              newSellBox.R4[Coll[Byte]].get == SELF.id // prevent same price attack
+   } else false
+
+   // payout to seller
+   val isPayoutToSeller = {
+      val feeAmount = (SELF.value * uiFeePerThousand) / 1000
+      val feeBox = OUTPUTS(1)
+      val payoutBox = OUTPUTS(0)
+      payoutBox.propositionBytes == seller.propBytes &&
+              payoutBox.R4[Coll[Byte]].get == SELF.id &&
+              (feeAmount == 0 || SELF.value <= 1000000 || // in case of cancel with nothing sold no fee box is needed
+                feeBox.propositionBytes == uiFeeAddressOptional.get && feeBox.value >= feeAmount && feeBox.R4[Coll[Byte]].get == SELF.id) &&
+              payoutBox.value >= SELF.value - feeAmount - 1000000 // we allow tx fee to be paid
+   }
+
+   val isComplete = SELF.tokens.size == 0 // don't let others cancel the sale
+
+   sigmaProp(isSold || isPayoutToSeller && isComplete) || seller && sigmaProp(isPayoutToSeller)
+}
+```
+The contract is located at address (inserted when EIP gets approved).
+
+## Caveats
+Due to [current semantics of accessing registers](https://github.com/ScorexFoundation/sigmastate-interpreter/issues/783), 
+transactions for buying tokens must not set `OUTPUTS(0).R4` or must set it to `Coll[Byte]`, even if 
+the new sell box is recreated at a different index. This is not a problem for withdrawals or 
+single buys, but might prevent some more complex transactions matching different types of token 
+exchange contracts into a single transaction.
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