Where MPTs stand

MPTs are being built in stages. Each stage is an amendment that validators vote on. Some stages are live. Some are not.

Live today

• Creating an MPT and paying with it.
• Locking, clawback and allow-listing, when the issuer switched them on.
• Putting MPTs in escrow, when the issuer allows it.

Not live

• Trading. You cannot place a DEX offer for an MPT or add one to an AMM pool. An amendment for this is in development. It is not open for voting.
• Changing the rules later. An amendment called DynamicMPT would let an issuer edit the description and transfer fee, and switch on more controls after launch. Validators are voting on it.
• Private balances. Confidential Transfers would hide MPT amounts. Validators are voting on it.

Live counts: DynamicMPT and ConfidentialTransfer on the Amendments page.

DynamicMPT matters to holders. If it passes, an issuer could turn on clawback or locking for a token that launched without them, unless it gave up that right. A switch that is on can never be turned off again.

DEX. The Payment reference states that version 1 MPTs support only direct payments between accounts. The Can Trade flag exists already. It has no effect until trading is implemented.

DynamicMPT. If enabled:

• MPTokenMetadata and TransferFee become changeable with MPTokenIssuanceSet.
• Capability flags can be turned on later with tfMPTSetCanLock, tfMPTSetRequireAuth, tfMPTSetCanEscrow, tfMPTSetCanTrade, tfMPTSetCanTransfer and tfMPTSetCanClawback. Enabling is one-way.
• These properties are mutable by default. An issuer fixes one for good by declaring it in ImmutableFlags, at creation or later. For example, tifMPTCanClawback (0x00000040) pins the Can Clawback flag as it is. tifMPTMetadata (0x00010000) and tifMPTTransferFee (0x00020000) pin those fields.
• ImmutableFlags only grows. A declaration can never be cleared.
• AssetScale and MaximumAmount stay fixed either way.

For a holder, the check becomes two steps: read Flags for what is on now, and ImmutableFlags for what can never change.

Escrow. An MPT can be escrowed only if its issuance has both Can Escrow and Can Transfer. Escrowed units show as LockedAmount on the holder's MPToken and on the issuance.

Related: How amendments happen, Escrow and Token Escrow, Confidential Transfers, Single Asset Vault.