10

Reading this example (https://www.stellar.org/blog/tokens-on-stellar/), I can see that creating a token on Stellar is straight forward. I'm not completely sure how to do it yet, but I do understand the overall concepts.

That being said, once a token is created, what are the ways to trade/exchange Stellar tokens? Are there existing platforms, like the Stellar equivalent of EtherDelta? Or is this something that needs to be handled one by one?

For clarification, I am talking about XLM based tokens, as opposed to XLM itself. XLM tokens, from what I understand, are tokens with a defined supply and condition.

Thank you!

Improve this question

1 Answer 1

Reset to default
11

Most wallets support all functions needed for the token creation and distribution.

The process is really straightforward.

  1. Create two account keypairs: the issuing and holder accounts.
  2. Fund both accounts, send 1.5 XLM to issuing account and 3 XLM to the holder account.
  3. Login to the holder account from any wallet and create a trustline to your issuing account. Asset code: COOLTOKEN, issuer account: PUBLIC_KEY_OF_THE_ISSUER_ACCOUNT.
  4. Issue some tokens. Use Stellar Laboratory or wallet that supports asset creation. In order to issue a token you just need to send tokens from the issuer to the holder account. So transfer 1000 COOLTOKENs to the account PUBLIC_KEY_OF_THE_HOLDER_ACCOUNT. That's it, you have issued 1000 COOLTOKENs.
  5. Now you are ready to distribute your token. Login to the holder wallet and make an offer on the Stellar Decentralized Exchange through the wallet interface (most wallets support this function). Let's sell 100 COOLTOKENs for 1000 XLM each. From that moment anyone who owns a Stellar account can purchase your token.

All mentioned operations can be executed using the Stellar Laboratory interface, or directly from the code, using the SDK for you preferred language.

If you wish to sell your tokens for other coins, you should contact exchanges in order to get your token listed. Bifrost is another option which allows you to sell your token for ETH.

In order to confirm the account ownership, make sure to set up home_domain for your accounts and provide metadata for your new asset in stellar.toml. You can also list your issuer and distribution accounts on StellarExpert Directory.

Improve this answer
2
  • 1
    Thanks. This is very clear. You also answered my other question which was about whether or not tokens need to map one-to-one.
    – rememberlenny
    Jan 24, 2018 at 22:07
  • 1
    Cool :) Consider deleting the second question if it was fully covered here.
    – Orbit Lens
    Jan 24, 2018 at 22:09

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service and acknowledge that you have read and understand our privacy policy and code of conduct.

Not the answer you're looking for? Browse other questions tagged or ask your own question.