Mint Your Own ERC-20 Tokens

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Avatar for Lanky-Ashaman
4 years ago

If you have a great idea for an Initial Coin Offering, but don't have the time or the coding skills to get things off the ground, then you can mint your own ERC-20 tokens at https://tokenmint.io/.  For $200, TokenMint will hold a crowdsale for your ICO,  but for just $40 they will create a smart contract and have your ERC-20 token minted in about 5 minutes of your time.  In 4 easy steps, you could have an Ethereum wallet full of your own tokens, to be distributed at your leisure.  

 

First, you choose between a fixed supply or  a mintable supply.  Here, you are deciding whether or not you would like to be able to add to the total supply at a later date.

 

image credit:  tokenmint.io

 

Next, you choose a Token Name, Token Symbol, the number of decimals that the token can be split into, and the Total Supply.  I filled in the empty spaces as an example.  You can choose pretty much any name and symbol as long as it hasn't already been taken.  This is kind of like buying a domain name.  You can reserve your token name even if you don't have your dApp developed, and you could steal something like Walmart Bucks out from under Walmart, making them pay for the supply if they cannot think of an alternative.

 

image credit:  tokenmint.io

 

After that, supply your payment details.  You simply have to connect an Ethereum wallet.  Just make sure that you have $40 worth of Ether to pay for the transaction.

 

 image credit: tokenmint.io

Lastly, you simply confirm the transaction.  

 

Now, you are the proud owner of your own ERC-20 token.  Finally, we have a way of giving Zero Fucks (ZFK) to people.  Our children can pay for tendies in Good Boy Points (GBP), or you can pay your electric company in KiloWatt Hours (KWH).  I thought that this was a pretty cool toolkit for people with no background in coding.  For the average person, tokenmint.io provides a cheap option that lets people brag about creating their own cryptocurrency.  Even if it is only for the novelty for most people, this is the type of tool that can make you feel more connected to blockchain technology.  That being said, you could watch a Youtube video and learn how to do the exact same thing from scratch, but it's always nice to have options.

 

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Avatar for Lanky-Ashaman
4 years ago

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