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bcSHARE — the vault-gated share token

bcshare-token.clar is a SIP-010 fungible token whose balances are the vault's share ledger. A depositor's bcSHARE balance is their claim on the pool's collateral and premium.

Why it is gated​

Because share balances drive premium accounting, every balance change must go through the vault so the premium-per-share index is harvested first. Therefore:

  • mint, burn, and the vault-internal transfer are authorized only for the vault contract (wired at deploy via bcshare-token.set-vault).
  • A direct bcshare-token.transfer from a wallet reverts with u401 (not authorized).

Moving shares between wallets​

Use the vault's wrapper, which keeps premium accounting in sync on both sides:

(transfer-shares (amount uint) (recipient principal))

The vault harvests and checkpoints both sender and recipient (the recipient starts with a clean premium checkpoint — verified in tests), then performs the underlying token transfer. Queued withdrawal intents that exceed the remaining balance are trimmed.

Wiring​

At deploy time, bcshare-token.set-vault(<vault principal>) points the token at the vault. This is one of the wiring transactions recorded in the deployment.