Updated September 2026: The old version of this article incorrectly described CIP-68 as a “Direct Deposit CIP.” It is not. CIP-68 is Cardano’s Datum Metadata Standard for native assets.
What Is CIP-68?
CIP-68 defines a way to store token metadata using an on-chain datum associated with a reference token. It addresses limitations of older metadata approaches, including programmability, metadata evolution and access to metadata from Plutus validators.
How Does It Work?
The standard separates the asset a user holds from a reference token that points to the metadata. Both use the same policy ID and standardized asset-name labels. This allows the user token to move normally while applications can find and authenticate the corresponding metadata.
Why Is That Useful?
- Metadata can be available to Plutus scripts.
- Issuers can design metadata to be immutable or updateable.
- Wallets, explorers and dApps can identify standardized asset classes.
- Cardano’s token metadata infrastructure can resolve CIP-68 on-chain metadata alongside registry data.
Is CIP-68 a Cardano Protocol Upgrade?
Not in the sense implied by the previous article. A CIP is a Cardano Improvement Proposal or ecosystem design standard. CIP-68 is currently listed as Active, but using it is an implementation choice for token projects and tooling—not a magic account upgrade applied to every Cardano wallet.
