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Some Ethereum transfer event logs have the address 0x000..00 in their from field. such as the log in the image, from tx with hash 0x60085d9f157a8426b3d2795de6cebbd4b50d541445be08e23f2b458d4bd0e60e

log image

What is the significance of this? What does this mean? I am guessing that it means new tokens are being minted but I do not want to assume anything.

If it is minting new tokens, where do the tokens go in the log when the tokens are being burned?

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This is just the deposit of Dai token in some service, let's say staking. In regard the staking the tDai is being minted to the Depositor's address and obviously that is from 0x0 address (Transfer event from 0x0 address to the Depositor).

In this the Depositor posses tDai which is the reference value of amount of Dai the Depositor has Deposited in the contract so that when the Depositor wants to withdraw the Dai his tDai will be burnt and equal amount of Dai will be sent back to the Depositor's address. During withdraw process it will again emit the Transfer event that will be from Depositor address to 0x0 address.

The burnt tokens are just subtracted from Depositor address and also from total supply.

eg.

balances[Depositor] -= amount;
totalSupply -= amount;
emit Transfer(Depositor, address(0), amount)
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  • The code example is for burning tokens, right? What would be the equivalent code for the log, in the question? Also, is address(0) the same as "0x00...00"? Commented Mar 11, 2023 at 22:47
  • yes address(0) is same as the zero address in solidity. For log it is emit Transfer(Depositor, address(0), amount) for burning but for new minting it is emit Transfer(address(0), Depositor, tDaiAmount)
    – Safi
    Commented Mar 12, 2023 at 6:09
  • Why doesn't tDai use Deposit and Withdraw events instead of the Transfer event with null sender or receiver? Commented Mar 13, 2023 at 6:09

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