Minting Side Tokens

Mint Side Tokens to be used as a utility in DApps.

What is a Side Token (ST)?

Side Tokens are those minted on the Side Chain while pegged to the value of a set amount of main tokens that have been minted on Luniverse Main Net. Until the maximum amount of the total MT is reached, Side Tokens are minted for various purposes to avoid any unnecessary token minting. This also enables a CO and Member to mint STs and create a token economy of their DApps. STs can be distributed within a DApp, but only MTs can be distributed outside the DApp.

Requesting MT (Member)

To mint STs, a Member may either receive the MT from the CO or purchase the MT from outside of the DApp The CO does not need to follow these steps because they have the MT. This chapter describes how to request the CO to transfer the MT from Luniverse Console.

  1. Click [Request Main Token] at the right of [Side Token] in the [Console] page to go to the [Request Main Token] page.

2. The [Main Token Request] page provides the history of MT receipts.

3. Click [Request Main Token] on the upper right corner to go to the [Request Main Token] page.

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4. Amount Sent: Enter the amount of the MTs you wish to request the CO to transfer.

5. Comment: You can also write the purpose or reason for requesting these tokens. Your comment will be taken into account when the CO decides whether or not to send the MT.

6. When you click [Request], the message “Do you want to request a transfer of [Amount Requested] to the Chain Owner?” appears in a pop-up window.

7. When you click [OK], the message “Your request has been sent to Chain Owner” appears in a pop-up window.

(1) When you click [OK], the request will be submitted, and you’ll be directed to the [Main Token Request] page. (2) Click [Cancel] to go back to the Request Main Token page.

8. The history of the requests sent to the CO are shown on the [Main Token Request] page.

Transferring MT (CO)

When the Member requests a transfer of the MT, the CO can view the details of the request in the Notifications window at the bottom of the console.

  1. Click [Main Token Request Notification] to go to the [Transfer Main Token] page. (Alternatively, click [Transfer Main Token] at the right of [Side Token] in the [Console] page to go to the [Transfer Main Token] page.)

2. Details of Member’s request for transferring the MT are shown on the [Transfer Main Token] page.

3. In the list, click [Transfer] for the selected item to transfer, and you will be directed to the page of the request details for the Member.

4. Check the transfer amount requested by the Member and the comment the Member has entered. The amount requested by the Member is set as the default amount, but you can change it.

5. When you click [Transfer], the message ”Do you want to transfer [Entered Token Amount] to the Member?” appears in a pop-up window.

When you click [OK], a pop-up window for entering your private key to sign the minting transaction appears. Enter the private key or upload the keystore file to proceed with signing the transaction and sending the corresponding MT to the Member.

6. The result of the transfer to the Member is shown in the [Transfer Main Token] page. When the transfer is complete, the status of the completed request is shown as [Transferred].

Minting Side Tokens (ST)

Click [Create ERC20 Side Token] at the bottom of the [Console] screen to go to the screen for minting STs.

Enter information about the ST to mint.

  1. Token Name: Set an official name of the token. Only 3 to 20 English letters are allowed.

    e.g., Ethereum, Bitcoin

  2. Token Symbol: This is an abbreviated name of the token. Only 2 to 5 uppercase letters are allowed.

    e.g., ETH, BTC

  3. Token Symbol Image: Set the symbol image for the token. A symbol image can be created with a simple combination of the color and the token symbol or by separately uploading an image.

    (1) Select one from the colors shown as examples to create a symbol image by combining the selected color and token symbol. (2) Click [Image Upload] to upload the image you want to use. A token symbol image must be a png file with the size of 640x640.

  4. Set Conversion Rate: When Side Tokens are minted on the Side Chain, they are pegged to the value of the MT that has already been minted on Luniverse Main Chain. Therefore, it is required to set the conversion rate against the MT when Side Tokens are first minted. The ST can be additionally minted at any time, however, this rate cannot be changed once set. Be careful when setting the conversion rate.

    e.g., *If the rate is set to [1MT = 10ST], a balance of 1,000 MTs allows the minting of up to 10,000 STs. *

  5. Mint Token: Finalize the information about minting the STs and set the Initial Supply and decimal.

    (1) Max Supply: Displays the amount of MTs owned by the Member and the maximum amount of the STs available for minting based on the set conversation rate. (2) Initial Supply: Sets the initial amount of STs to be minted. Enter the initial supply of the STs you want to mint. Then the amount of MTs required for minting the specified amount of STs will be automatically calculated and displayed. The initial supply cannot exceed the maximum supply.

    • Upon the initial supply of STs, you can choose to mint STs that have the value pegged to all the MTs that you own or mint only a part of them and add additional STs later depending on the demand.

  6. When you click [Create], the message “Do you want to mint a token?” appears in a pop-up window. Click [OK] to bring up a window for signing the transaction. When the transaction is successfully signed, it is processed to mint the requested STs.

  7. When the STs are created successfully, the status of the newly created STs changes from [Registering] to [Registered] in the [Console] screen.

Minting additional Side Tokens

  1. On the [Console] screen, click the ST you wish to mint additionally to go to the [Side Token Overview] page.

  2. Click [Supply] on the left menu to go to the [Supply] page.

  3. The [Token Supply] page provides the history of minting STs. Click [Additional Mint] on the upper right corner to go to the [Additional Mint] page.

4. Enter the additional minting amount of STs in Additional Mint Supply. Here, the additional minting amount of STs cannot exceed the value that is calculated by multiplying the amount of MTs owned by the Member by the conversion rate.

5. Enter the purpose or reason for additional minting in Comment. You can see the comment you have written in Mint History on the [Token Supply] page.

6. When you click [Mint], a pop-up window for entering your private key to proceed with signing the minting transaction appears. Enter the private key or upload the keystore file to proceed with signing the transaction. When the transaction is signed successfully, the message "Do you want to mint a token?” appears in a pop-up window. Click [OK] to proceed with additional minting.

7. You can check if the additional tokens have been successfully minted in Mint History on the [Token Supply] page. When the STs are minted, the value of Status in the additional minting list is shown as Usable.