CODEWITHSUNDEEP
xrprippled
Albert S
Albert S

Reputation: 2602

Ripple XRP Ledger - How do I create an asset or a token? What is the transaction type that accomplishes that?

I would like to create a token (asset) on the Ripple XRP ledger.
What transaction type does that?
So far i only found that a wallet called https://www.theworldexchange.net/ supports that activity.
However, i'd like to do it directly on the network. (Ie through a direct transaction)

Upvotes: 0

Views: 2581

Answers (3)

nixer
nixer

Reputation: 61

You can also create a token through the "Token creator" xApp inside the XUMM wallet.

So you would have to download the XUMM wallet app, create and fund an account and open the "xApps" section and find the "Token Creator" xApp which guides you through the process of creating a token on the XRPL.

Upvotes: 0

mDuo13
mDuo13

Reputation: 136

There is a complete tutorial (published this August) on how to do this here: https://xrpl.org/issue-a-fungible-token.html

The short version is that it's several steps:

  1. You enable the Default Ripple flag on your issuing account by sending an AccountSet transaction with the appropriate flag. This will allow users to swap your token among themselves.
  2. A user sends a TrustSet transaction to your address indicating their willingness to hold your token.
  3. You send the user the token using a Payment transaction.

There are many ways to use tokens on the XRP Ledger, including community credit, but if you are planning on providing a high-quality token for sales to the public, there are a lot of non-technical steps like defining the appropriate policies, establishing a reputation around your token or your business, and (depending on how you use and promote your token) acquiring the appropriate legal licenses or other standing for the jurisdictions you operate in. (In short: Please don't just make a token to cash in on some online craze and then find the SEC knocking at your door shouting that your token fails the Howey Test.)

Upvotes: 0

Albert S
Albert S

Reputation: 2602

Issued Currencies are done via OfferCreate transactions.
In order to issue a currency, one just issues an offer to sell a quantity of some new token for some amount of XRP (or other issued currency for that matter)

Upvotes: -1

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