diff --git a/blueprints/subledger_code.lua b/blueprints/subledger_code.lua
new file mode 100644
index 00000000..05556e89
--- /dev/null
+++ b/blueprints/subledger_code.lua
@@ -0,0 +1,316 @@
+local subledgerCode = [===[
+
+local bint = require('.bint')(256)
+local ao = require('ao')
+--[[
+  This module implements the ao Standard Token Specification.
+
+  Terms:
+    Sender: the wallet or Process that sent the Message
+
+  It will first initialize the internal state, and then attach handlers,
+    according to the ao Standard Token Spec API:
+
+    - Info(): return the token parameters, like Name, Ticker, Logo, and Denomination
+
+    - Balance(Target?: string): return the token balance of the Target. If Target is not provided, the Sender
+        is assumed to be the Target
+
+    - Balances(): return the token balance of all participants
+
+    - Transfer(Target: string, Quantity: number): if the Sender has a sufficient balance, send the specified Quantity
+        to the Target. It will also issue a Credit-Notice to the Target and a Debit-Notice to the Sender
+
+    - Mint(Quantity: number): if the Sender matches the Process Owner, then mint the desired Quantity of tokens, adding
+        them the Processes' balance
+]]
+--
+local json = require('json')
+
+--[[
+  utils helper functions to remove the bint complexity.
+]]
+--
+
+
+local utils = {
+  add = function(a, b)
+    return tostring(bint(a) + bint(b))
+  end,
+  subtract = function(a, b)
+    return tostring(bint(a) - bint(b))
+  end,
+  toBalanceValue = function(a)
+    return tostring(bint(a))
+  end,
+  toNumber = function(a)
+    return tonumber(a)
+  end
+}
+
+--[[
+     Initialize State
+
+     ao.id is equal to the Process.Id
+   ]]
+--
+Variant = "0.0.3"
+
+-- token state should be assigned from the spawning message
+-- token should be idempotent and not change previous state updates
+Name = Name or ao.env.Process.Tags['Token-Name']
+Ticker = Ticker or ao.env.Process.Tags['Token-Ticker']
+Denomination = Denomination or tonumber(ao.env.Process.Tags['Token-Denomination']) or 12
+Logo = Logo or ao.env.Process.Tags['Token-Logo']
+
+if not ao.env.Process.Tags['Parent-Token'] then
+  local initialSupply = tonumber(ao.env.Process.Tags['Token-Supply']) or 10000
+  local initialBalance = utils.toBalanceValue(initialSupply * 10 ^ Denomination)
+
+  Balances = Balances or { [ao.id] = initialBalance }
+  TotalSupply = TotalSupply or initialBalance
+else
+  Balances = Balances or {}
+end
+
+SourceToken = ao.env.Process.Tags['Source-Token'] or ao.id
+ParentToken = ao.env.Process.Tags['Parent-Token']
+
+Subledgers = Subledgers or {}
+SubledgersPendingInit = SubledgersPendingInit or {}
+
+--[[
+     Add handlers for each incoming Action defined by the ao Standard Token Specification
+   ]]
+--
+
+--[[
+     Info
+   ]]
+--
+Handlers.add('info', Handlers.utils.hasMatchingTag('Action', 'Info'), function(msg)
+  ao.send({
+    Target = msg.From,
+    Name = Name,
+    Ticker = Ticker,
+    Logo = Logo,
+    Denomination = tostring(Denomination)
+  })
+end)
+
+--[[
+     Balance
+   ]]
+--
+Handlers.add('balance', Handlers.utils.hasMatchingTag('Action', 'Balance'), function(msg)
+  local bal = '0'
+
+  -- If not Recipient is provided, then return the Senders balance
+  if (msg.Tags.Recipient) then
+    if (Balances[msg.Tags.Recipient]) then
+      bal = Balances[msg.Tags.Recipient]
+    end
+  elseif msg.Tags.Target and Balances[msg.Tags.Target] then
+    bal = Balances[msg.Tags.Target]
+  elseif Balances[msg.From] then
+    bal = Balances[msg.From]
+  end
+
+  ao.send({
+    Target = msg.From,
+    Balance = bal,
+    Ticker = Ticker,
+    Account = msg.Tags.Recipient or msg.From,
+    Data = bal
+  })
+end)
+
+--[[
+     Balances
+   ]]
+--
+Handlers.add('balances', Handlers.utils.hasMatchingTag('Action', 'Balances'),
+  function(msg) ao.send({ Target = msg.From, Data = json.encode(Balances) }) end)
+
+--[[
+     Transfer
+   ]]
+--
+Handlers.add('transfer', Handlers.utils.hasMatchingTag('Action', 'Transfer'), function(msg)
+  assert(type(msg.Recipient) == 'string', 'Recipient is required!')
+  assert(type(msg.Quantity) == 'string', 'Quantity is required!')
+  assert(bint.__lt(0, bint(msg.Quantity)), 'Quantity must be greater than 0')
+
+  if not Balances[msg.From] then Balances[msg.From] = "0" end
+  if not Balances[msg.Recipient] then Balances[msg.Recipient] = "0" end
+
+  if bint(msg.Quantity) <= bint(Balances[msg.From]) then
+    Balances[msg.From] = utils.subtract(Balances[msg.From], msg.Quantity)
+    Balances[msg.Recipient] = utils.add(Balances[msg.Recipient], msg.Quantity)
+
+    local SubledgerTags = {}
+    if Subledgers and Subledgers[msg.Recipient] then
+      SubledgerTags = {
+        ['Source-Token'] = SourceToken or ao.id,
+        ['Parent-Token'] = ParentToken,
+      }
+    end
+
+    --[[
+         Only send the notifications to the Sender and Recipient
+         if the Cast tag is not set on the Transfer message
+       ]]
+    --
+    if not msg.Cast then
+      -- Debit-Notice message template, that is sent to the Sender of the transfer
+      local debitNotice = {
+        Target = msg.From,
+        Action = 'Debit-Notice',
+        Recipient = msg.Recipient,
+        Quantity = msg.Quantity,
+        Data = Colors.gray ..
+            "You transferred " ..
+            Colors.blue .. msg.Quantity .. Colors.gray .. " to " .. Colors.green .. msg.Recipient .. Colors.reset
+      }
+      -- Credit-Notice message template, that is sent to the Recipient of the transfer
+      local creditNotice = {
+        Target = msg.Recipient,
+        Action = 'Credit-Notice',
+        Sender = msg.From,
+        Quantity = msg.Quantity,
+        Data = Colors.gray ..
+            "You received " ..
+            Colors.blue .. msg.Quantity .. Colors.gray .. " from " .. Colors.green .. msg.From .. Colors.reset
+      }
+
+      -- Add forwarded tags to the credit and debit notice messages
+      for tagName, tagValue in pairs(msg) do
+        -- Tags beginning with "X-" are forwarded
+        if string.sub(tagName, 1, 2) == "X-" then
+          debitNotice[tagName] = tagValue
+          creditNotice[tagName] = tagValue
+        end
+      end
+
+      -- Add SubledgerTags to the credit notice if applicable
+      for tagName, tagValue in pairs(SubledgerTags) do
+        creditNotice[tagName] = tagValue
+      end
+
+      -- Send Debit-Notice and Credit-Notice
+      ao.send(debitNotice)
+      ao.send(creditNotice)
+    end
+  else
+    ao.send({
+      Target = msg.From,
+      Action = 'Transfer-Error',
+      ['Message-Id'] = msg.Id,
+      Error = 'Insufficient Balance!'
+    })
+  end
+end)
+
+--[[
+    Mint
+   ]]
+--
+Handlers.add('mint', Handlers.utils.hasMatchingTag('Action', 'Mint'), function(msg)
+  assert(type(msg.Quantity) == 'string', 'Quantity is required!')
+  assert(bint(0) < bint(msg.Quantity), 'Quantity must be greater than zero!')
+
+  if not Balances[ao.id] then Balances[ao.id] = "0" end
+
+  if msg.From == ao.id then
+    -- Add tokens to the token pool, according to Quantity
+    Balances[msg.From] = utils.add(Balances[msg.From], msg.Quantity)
+    TotalSupply = utils.add(TotalSupply, msg.Quantity)
+    ao.send({
+      Target = msg.From,
+      Data = Colors.gray .. "Successfully minted " .. Colors.blue .. msg.Quantity .. Colors.reset
+    })
+  else
+    ao.send({
+      Target = msg.From,
+      Action = 'Mint-Error',
+      ['Message-Id'] = msg.Id,
+      Error = 'Only the Process Id can mint new ' .. Ticker .. ' tokens!'
+    })
+  end
+end)
+
+--[[
+     Total Supply
+   ]]
+--
+Handlers.add('totalSupply', Handlers.utils.hasMatchingTag('Action', 'Total-Supply'), function(msg)
+  assert(msg.From ~= ao.id, 'Cannot call Total-Supply from the same process!')
+
+  ao.send({
+    Target = msg.From,
+    Action = 'Total-Supply',
+    Data = TotalSupply,
+    Ticker = Ticker
+  })
+end)
+
+--[[
+ Burn
+]] --
+Handlers.add('burn', Handlers.utils.hasMatchingTag('Action', 'Burn'), function(msg)
+  assert(type(msg.Quantity) == 'string', 'Quantity is required!')
+  assert(bint(msg.Quantity) <= bint(Balances[msg.From]), 'Quantity must be less than or equal to the current balance!')
+
+  Balances[msg.From] = utils.subtract(Balances[msg.From], msg.Quantity)
+  TotalSupply = utils.subtract(TotalSupply, msg.Quantity)
+
+  ao.send({
+    Target = msg.From,
+    Data = Colors.gray .. "Successfully burned " .. Colors.blue .. msg.Quantity .. Colors.reset
+  })
+end)
+
+Handlers.add('creditNotice', Handlers.utils.hasMatchingTag('Action', 'Credit-Notice'), function(msg)
+  assert(type(msg.Quantity) == 'string', 'Quantity is required!')
+  assert(type(msg.Sender) == 'string', 'Sender is required!')
+
+  if msg.From == ParentToken then
+    if not Balances[msg.Sender] then Balances[msg.Sender] = "0" end
+    Balances[msg.Sender] = utils.add(Balances[msg.Sender], msg.Quantity)
+    ao.send({
+      Target = msg.Sender,
+      Data = Colors.gray .. "Successfully credited " .. Colors.blue .. msg.Quantity .. Colors.gray .. " to subledger " .. Colors.green .. ao.id .. Colors.reset
+    })
+  else
+    ao.send({
+      Target = msg.Sender,
+      Action = 'Credit-Error',
+      ['Message-Id'] = msg.Id,
+      Error = 'Invalid Parent-Token!'
+    })
+  end
+end)
+
+Handlers.add('withdraw', Handlers.utils.hasMatchingTag('Action', 'Withdraw'), function(msg)
+  assert(type(ParentToken) == 'string', 'This process has no Parent')
+  assert(type(msg.Quantity) == 'string', 'Quantity is required!')
+  assert(bint(msg.Quantity) <= bint(Balances[msg.From]), 'Quantity must be less than or equal to the current balance!')
+
+  Balances[msg.From] = utils.subtract(Balances[msg.From], msg.Quantity)
+
+  local recipient = msg.From
+  if type(msg.Recipient) == 'string' then
+    recipient = msg.Recipient
+  end
+
+  ao.send({
+    Target = ParentToken,
+    Action = 'Transfer',
+    Recipient = recipient,
+    Quantity = msg.Quantity
+  })
+end)
+
+]===]
+
+return subledgerCode
diff --git a/blueprints/token.lua b/blueprints/token.lua
index ff4cde32..66f26c8b 100644
--- a/blueprints/token.lua
+++ b/blueprints/token.lua
@@ -1,5 +1,8 @@
 local bint = require('.bint')(256)
 local ao = require('ao')
+
+local subledgerCode = require('subledger_code')
+
 --[[
   This module implements the ao Standard Token Specification.
 
@@ -55,13 +58,28 @@ local utils = {
 --
 Variant = "0.0.3"
 
+-- token state should be assigned from the spawning message
 -- token should be idempotent and not change previous state updates
-Denomination = Denomination or 12
-Balances = Balances or { [ao.id] = utils.toBalanceValue(10000 * 10 ^ Denomination) }
-TotalSupply = TotalSupply or utils.toBalanceValue(10000 * 10 ^ Denomination)
-Name = Name or 'Points Coin'
-Ticker = Ticker or 'PNTS'
-Logo = Logo or 'SBCCXwwecBlDqRLUjb8dYABExTJXLieawf7m2aBJ-KY'
+Name = Name or ao.env.Process.Tags['Token-Name']
+Ticker = Ticker or ao.env.Process.Tags['Token-Ticker']
+Denomination = Denomination or tonumber(ao.env.Process.Tags['Token-Denomination']) or 12
+Logo = Logo or ao.env.Process.Tags['Token-Logo']
+
+if not ao.env.Process.Tags['Parent-Token'] then
+  local initialSupply = tonumber(ao.env.Process.Tags['Token-Supply']) or 10000
+  local initialBalance = utils.toBalanceValue(initialSupply * 10 ^ Denomination)
+
+  Balances = Balances or { [ao.id] = initialBalance }
+  TotalSupply = TotalSupply or initialBalance
+else
+  Balances = Balances or {}
+end
+
+SourceToken = ao.env.Process.Tags['Source-Token'] or ao.id
+ParentToken = ao.env.Process.Tags['Parent-Token']
+
+Subledgers = Subledgers or {}
+SubledgersPendingInit = SubledgersPendingInit or {}
 
 --[[
      Add handlers for each incoming Action defined by the ao Standard Token Specification
@@ -132,6 +150,14 @@ Handlers.add('transfer', Handlers.utils.hasMatchingTag('Action', 'Transfer'), fu
     Balances[msg.From] = utils.subtract(Balances[msg.From], msg.Quantity)
     Balances[msg.Recipient] = utils.add(Balances[msg.Recipient], msg.Quantity)
 
+    local SubledgerTags = {}
+    if Subledgers and Subledgers[msg.Recipient] then
+      SubledgerTags = {
+        ['Source-Token'] = SourceToken or ao.id,
+        ['Parent-Token'] = ParentToken,
+      }
+    end
+
     --[[
          Only send the notifications to the Sender and Recipient
          if the Cast tag is not set on the Transfer message
@@ -168,6 +194,11 @@ Handlers.add('transfer', Handlers.utils.hasMatchingTag('Action', 'Transfer'), fu
         end
       end
 
+      -- Add SubledgerTags to the credit notice if applicable
+      for tagName, tagValue in pairs(SubledgerTags) do
+        creditNotice[tagName] = tagValue
+      end
+
       -- Send Debit-Notice and Credit-Notice
       ao.send(debitNotice)
       ao.send(creditNotice)
@@ -240,3 +271,113 @@ Handlers.add('burn', Handlers.utils.hasMatchingTag('Action', 'Burn'), function(m
     Data = Colors.gray .. "Successfully burned " .. Colors.blue .. msg.Quantity .. Colors.reset
   })
 end)
+
+Handlers.add('creditNotice', Handlers.utils.hasMatchingTag('Action', 'Credit-Notice'), function(msg)
+  assert(type(msg.Quantity) == 'string', 'Quantity is required!')
+  assert(type(msg.Sender) == 'string', 'Sender is required!')
+
+  if msg.From == ParentToken then
+    if not Balances[msg.Sender] then Balances[msg.Sender] = "0" end
+    Balances[msg.Sender] = utils.add(Balances[msg.Sender], msg.Quantity)
+    ao.send({
+      Target = msg.Sender,
+      Data = Colors.gray ..
+          "Successfully credited " ..
+          Colors.blue .. msg.Quantity .. Colors.gray .. " to subledger " .. Colors.green .. ao.id .. Colors.reset
+    })
+  else
+    ao.send({
+      Target = msg.Sender,
+      Action = 'Credit-Error',
+      ['Message-Id'] = msg.Id,
+      Error = 'Invalid Parent-Token!'
+    })
+  end
+end)
+
+Handlers.add('withdraw', Handlers.utils.hasMatchingTag('Action', 'Withdraw'), function(msg)
+  assert(type(ParentToken) == 'string', 'This process has no Parent')
+  assert(type(msg.Quantity) == 'string', 'Quantity is required!')
+  assert(bint(msg.Quantity) <= bint(Balances[msg.From]), 'Quantity must be less than or equal to the current balance!')
+
+  Balances[msg.From] = utils.subtract(Balances[msg.From], msg.Quantity)
+
+  local recipient = msg.From
+  if type(msg.Recipient) == 'string' then
+    recipient = msg.Recipient
+  end
+
+  ao.send({
+    Target = ParentToken,
+    Action = 'Transfer',
+    Recipient = recipient,
+    Quantity = msg.Quantity
+  })
+end)
+
+-- Subledger specific handlers
+
+-- Spawning subledger process
+Handlers.add('SpawnSubledger', Handlers.utils.hasMatchingTag('Action', 'Spawn-Subledger'), function(msg)
+  print("Spawning Subledger...")
+
+  ao.spawn(ao.env.Module.Id, {
+    Data = "",
+    Tags = {
+      ['Source-Token'] = SourceToken or ao.id,
+      ['Parent-Token'] = ao.id,
+      ['Token-Name'] = Name,
+      ['Token-Ticker'] = Ticker,
+      ['Token-Logo'] = Logo,
+      ['Token-Denomination'] = tostring(Denomination),
+      ['Deployer'] = msg.From,
+      ['Original-Message-Id'] = msg.Id,
+    }
+  })
+
+  ao.send({ Target = msg.From, Action = "Spawning-Subledger", ['Original-Message-Id'] = msg.Id })
+end)
+
+Handlers.add("NotifySpawn", Handlers.utils.hasMatchingTag("Action", "Spawned"), function(msg)
+  local processId = msg.Tags['AO-Spawn-Success']
+  local originalMessageId = msg.Tags['Original-Message-Id']
+  local deployer = msg.Tags['Deployer']
+
+  table.insert(SubledgersPendingInit, {
+    processId = processId,
+    originalMessageId = originalMessageId,
+    deployer = deployer
+  })
+  print("Spawned.")
+end)
+
+Handlers.add("InitSubledgers", Handlers.utils.hasMatchingTag("Action", "Init-Subledgers"), function(msg)
+  local processIds = {}
+  for i, subledger in ipairs(SubledgersPendingInit) do
+    table.insert(processIds, subledger.processId)
+  end
+  assert(#processIds > 0, "No subledger to init")
+  ao.send({
+    Target = ao.id,
+    Action = "Eval",
+    Data = subledgerCode,
+    Assignments = processIds
+  })
+
+  for i, subledger in ipairs(SubledgersPendingInit) do
+    ao.send({
+      Target = subledger.deployer,
+      Action = "Subledger-Initialized",
+      ['Subledger-Id'] = subledger.processId,
+      ['Original-Message-Id'] = subledger.originalMessageId
+    })
+    table.insert(Subledgers, {
+      processId = subledger.processId,
+      originalMessageId = subledger.originalMessageId,
+      deployer = subledger.deployer
+    })
+    print("Initialized subledger " .. subledger.processId .. " for deployer " .. subledger.deployer)
+  end
+  SubledgersPendingInit = {}
+end
+)