ERC-1400
DraftOpen StandardERC-1400 (Security Token Standard)
ERC-1400 is the foundational security token standard that most practitioners working in this space learned from, even if they ultimately chose something else. Authored by the Polymath team and submitted as an EIP in 2018, ERC-1400 introduced the concept of partitioned tokens — a single token contract that can represent multiple tranches of securities, each with its own transfer restrictions, rights, and compliance logic. That design decision still influences how security token infrastructure is architected today. The core innovation of ERC-1400 is the partition. In traditional securities, a single company might have multiple classes of shares, senior and subordinate debt tranches, or preferred and common equity — each governed by different transfer rules and investor eligibility requirements. ERC-1400 maps this directly onto the token contract. Rather than deploying a separate token contract for each security class, an issuer deploys a single ERC-1400 contract and manages multiple partitions within it. This reduces deployment costs and simplifies on-chain accounting when multiple classes interact. The transfer restriction mechanism in ERC-1400 is controller-based: authorized controllers can override standard transfer restrictions for corporate actions, regulatory compulsion, or error recovery. The standard exposes a canTransfer function — a precursor to ERC-7943's interface approach — that allows pre-flight compliance checks before a transfer is submitted. Document management functions allow legal documents (prospectuses, subscription agreements, compliance certifications) to be attached to the token contract by URI and hash. Where ERC-1400 has innovative design, it gives back in interface complexity. The standard is actually a suite of sub-specifications: ERC-1410 (Partially Fungible Token — the partition model), ERC-1594 (Core Security Token — issuance and redemption), ERC-1643 (Document Management), and ERC-1644 (Controller Token Operations). A full ERC-1400 implementation means implementing all of these. In practice, many deployments implement only subsets, which undermines interoperability and defeats part of the standard's purpose. Polymath's stewardship of ERC-1400 has been inconsistent. The standard reached Last Call status on the EIP track but never achieved Final status — a significant distinction that reflects unresolved questions about whether some design decisions warranted standardization at the interface level versus the implementation level. That governance uncertainty has not prevented adoption: Securitize's early infrastructure, TokenSoft, and other first-generation platforms built on ERC-1400. But it creates long-term maintenance uncertainty that newer standards specifically address. ERC-1400 is the standard that taught the industry what security token infrastructure needs to do. It is not necessarily the standard to build on today.
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This entry reflects TTP's editorial assessment as of 2026 and is intended as an informational practitioner reference only. Consult qualified legal and technical counsel before adopting any standard in a production context.