Contents:

- Token creation

- NFT creation

Token creation

It's very easy to create your own token that can be traded on WX.Network.

Log in to your WX.Network app, navigate to the Wallet tab and choose the Create Token section.

In the Create token tab, you can give your token a name and description, select the total amount of tokens and decimals.

Click Create token In the top-left corner to start the creation process.
Let's look at each of these fields in turn:

Name of your token: First of all, give your token a name. It is important to know that names are not unique, but the identifier (token ID) is unique. Whenever you are looking for a token, you can make sure that it is the right one by checking the token ID.

Note: The name of the created token can not be shorter than 4 characters and no more than 16 characters.

Description: Write a description of your token. You can include website links which can be particularly useful;

Total tokens: Define the total token supply. The total supply can either be fixed at the issuance or increased later by making the token reissuable;

Reissuable: Reissuable defines if a token issuer can increase the token supply later. If set to "Reissuable", the issuer can increase the supply at any time;

Note: If Reissuable is selected when the token is created, it can be changed to Not reissuable at a later stage. For details, see Change Reissuable to Not Reissuable article.

Decimals: Set how many decimals your token shall have. For example, if you specify 8 decimals, as in Bitcoin, your token can be divided down to 0.00000001. If you specify 0, your token can only be transacted in whole pieces.

Note: Make sure that you have at least 1 WAVES for the token creation fee.

The Preview box displays the token based on your selection.

Before creating a new token, carefully read the token creation conditions:

I) You will not use the token for fraudulent purposes;

II) You will not duplicate, fully or in part, the name of an existing cryptocurrency or a well-known company with the aim of misleading users;

III) You will not use names of states, other administrative units or municipal institutions for the token's name with the aim of misleading users;

IV) You will not set a script on a smart asset that limits exchange transactions on WX.Network by token quantity;

V) You will not give false information in a smart asset's description concerning the rules governing the token's use, which do not correspond to those of the script installed on it;

If necessary, change the name of the token according to the conditions, then select the checkbox and click Generate.

In the following window double-check the entered data and if everything is correct click Send or click Go Back to make corrections.

You can find and sort your tokens in the Tokens section of the Wallet tab.

The token you created is to be categorized as 'Unverified' by default. You can verify your token on Voting page.

NFT creation

WX.Network users have the ability to create Non-fungible token or NFT. NFT is a singular entity that has a unique ID. This contrasts with a regular token, two coins of which cannot be distinguished from each other. NFTs can be used as in-game items, collectibles, certificates, or unique coupons.

In order to issue NFT you need to specify the following values in the token creation form:

- specify 1 in the Total tokens field;

- specify 0 in the Decimals field;

- specify Not reissuable in the Reissuable field.

Note: NFTs are not displayed in the WX.Network interface. Also, NFTs cannot be transferred via the WX.Network.


If you have any questions related to WX.Network, feel free to contact us.


tags: create my token generation newbie asset

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