Transfer-controlled Algorand Standard Asset (TC-ASA)

Reference implementation for a Transfer-controlled Algorand Standard Asset
(TC-ASA), which extends an ASA to provide custom or more granular control around
transfer, mint and burn operations.

It implements the following:

  • Setting a “global freeze” flag, that prevents all token transfers.
  • Individually whitelisting/locking users.

Can be extended to implement any form of control over the transfer of the token,

  • Requiring the payment of royalties when transferring the token.
  • Restricting the minimum or maximum balance per user, the overall number of
    token holders, etc.
  • Implementing vesting or minimum lock periods.


The TC-ASA ties together:

  • An Algorand Standard Asset (ASA), created with the defaultFrozen flag set to
    prevents all xfer operations.
  • An Algorand Smart Contract (ASC), which holds the clawback, freeze,
    manager and reserve roles over the ASA.

All operations on the ASA require an application call to the ASC. For instance,
a call to the ABI method transfer(account,uint64,asset) will transfer uint64
units of the asset (the ASA) from the transaction Sender to account (the
recipient). Under the hood, the ASC creates an inner clawback transaction
(itxn) that moves the ASA.

ABI methods and calls

The transfer method provides the fundamental building block for all other
operations. For instance, if implementing royalties you would extend transfer
so that it also checks for an additional payment to the royalty owner (e.g.
through a group transfer):

  • transfer(account,uint64,asset): Transfer uint64 units of asset (must be
    a reference to the TC-ASA) from Sender to account.

master only

The following methods can only be invoked by the master account, which defaults
to the ASC creator:

  • init(asset): Initializes the TC-ASA by clawing back the total ASA supply
    into the account managed by this ASC (the Reserve). Can only be called once.
  • mint(account,uint64,asset): Mints uint64 units of asset from Reserve
    to account.
  • burn(account,uint64,asset): Burns uint64 units of asset from account
    to Reserve.
  • setWhitelist(account,bool): Sets the whitelisted flag of account.
    whitelisted must be true to receive funds.
  • setLock(account,bool): Sets the locked flag of account. locked must be
    false to transfer funds.
  • setFreeze(bool): Sets the global frozen flag. frozen must be false to
    issue mint or transfer operations.

ASC life cycle

  • master only can update the ASC.
  • Anyone can opt-in to the ASC.
  • closeout, clear and delete will reject any transaction.
    • WARNING: Clearing the application state for a user with outstanding funds
      will prevent them from calling transfer.


WARNING: This implementation has not been security-audited.

Reference Implementation

  • The file provides the PyTeal implementation and, if executed,
    writes the TEAL contract to /tmp/tc_asa.teal.
  • The file provides helpers to deploy the ASA and the ASC to the

    • By default, it will run against an Algorand
      sandbox endpoints.
    • Will print the JSON ABI specification to /tmp/contract.json.


Use the @ABI.method(interface: dict) decorator to add new methods to the
contract. interface must be a Python dictionary encoding an ARC-4 method



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