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[ZIP 226, ZIP 227] Removing the definition of Wrapped Assets (and Native Assets) #1155

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daira merged 1 commit into from
Jan 14, 2026
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[ZIP 226, ZIP 227] Removing the definition of Wrapped Assets (and Native Assets) #1155

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4 changes: 2 additions & 2 deletions zips/zip-0226.rst
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Expand Up @@ -29,7 +29,7 @@ The character § is used when referring to sections of the Zcash Protocol Specif

The terms "Orchard" and "Action" in this document are to be interpreted as described in ZIP 224. [#zip-0224]_

The terms "Asset", "Custom Asset" and "Wrapped Asset" in this document are to be interpreted as described in ZIP 227. [#zip-0227]_
The terms "Asset" and "Custom Asset" in this document are to be interpreted as described in ZIP 227. [#zip-0227]_

We define the following additional terms:

Expand Down Expand Up @@ -66,7 +66,7 @@ We include the ability to pause the ZSA functionality, via a $\mathsf{enableZSA}
When this flag is set to false, the proof will fail for any non-native Asset, making it impossible to perform transactions involving Custom Assets.
When this flag is set to true, the circuit will allow transactions involving Custom Assets subject to the values of the $\mathsf{enableSpendsOrchard}$ and $\mathsf{enableOutputsOrchard}$ flags, similar to the vanilla Orchard setting.

Finally, in this ZIP we also describe the *burn* mechanism, which is a direct extension of the transfer mechanism. The burn process uses a similar mechanism to what is used in Orchard to unshield ZEC, by using the $\mathsf{valueBalance}$ of the Asset in question. Burning Assets is useful for many purposes, including bridging of Wrapped Assets and removing supply of Assets.
Finally, in this ZIP we also describe the *burn* mechanism, which is a direct extension of the transfer mechanism. The burn process uses a similar mechanism to what is used in Orchard to unshield ZEC, by using the $\mathsf{valueBalance}$ of the Asset in question. Burning Assets is useful for many purposes, including bridging, and removing supply of Assets.

Privacy Implications
====================
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6 changes: 2 additions & 4 deletions zips/zip-0227.rst
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Expand Up @@ -38,8 +38,6 @@ We define the following additional terms:
- TAZ is the default (and currently the only defined) Asset for the Zcash testnet.
- We use the term "Custom Asset" to refer to any Asset other than ZEC and TAZ.

- Native Asset: a Custom Asset with issuance defined on the Zcash blockchain.
- Wrapped Asset: a Custom Asset with native issuance defined outside the Zcash blockchain.
- Issuance Action: an instance of a single issuance of a Zcash Shielded Asset. It defines the issuance of a single Asset Identifier.
- Issuance Bundle: the bundle in the transaction that contains all the issuance actions of that transaction.

Expand All @@ -55,7 +53,7 @@ This ZIP introduces the issuance mechanism for Custom Assets on the Zcash chain.

This ZIP only enables *transparent* issuance. As a first step, transparency will allow for proper testing of the applications that will be most used in the Zcash ecosystem, and will enable the supply of Assets to be tracked.

The issuance mechanism described in this ZIP is broad enough for issuers to either create Assets on Zcash (i.e. Assets that originate on the Zcash blockchain), as well as for institutions to create bridges from other chains and import Wrapped Assets. This enables what we hope will be a useful set of applications.
The issuance mechanism described in this ZIP is broad enough for issuers to either create Assets on Zcash (i.e. Assets that originate on the Zcash blockchain), as well as for institutions to create bridges from other chains and issue Assets that wrap tokens from those chains. This enables what we hope will be a useful set of applications.

Use Cases
=========
Expand Down Expand Up @@ -649,7 +647,7 @@ The design of this protocol does not currently allow for rotation of the issuanc
Bridging Assets
---------------

For bridging purposes, the secure method of off-boarding Assets is to burn an Asset with the burning mechanism in ZIP 226 [#zip-0226]_. Users should be aware of issuers that demand the Assets be sent to a specific address on the Zcash chain to be redeemed elsewhere, as this may not reflect the real reserve value of the specific Wrapped Asset.
For bridging purposes, the secure method of off-boarding Assets is to burn an Asset with the burning mechanism in ZIP 226 [#zip-0226]_. Users should be aware of issuers that demand the Assets be sent to a specific address on the Zcash chain to be redeemed elsewhere, as this may not reflect the real reserve value of the specific Asset.

Other Considerations
====================
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