Create Token > Plan and Design > Start Integration > Launch to End-users!
|1. Create token||Non-technical||< 1 day|
a. Sign-up on OST Platform
The first thing you need to do to get started with OST Platform is to sign-up for an account. You will have to activate your account using the activation link sent to you upon registration.
OST Platform is Available on Desktop Only
Given the requirement to use MetaMask, OST Platform is available on desktop only using either Chrome or Firefox. If you navigate to the sign-up link above on mobile, you will be prompted to use a desktop browser.
To enhance your experience on OST Platform, we ask you to provide your company name, whether your product has a mobile application, and current estimate of monthly active users (MAU).
b. Choose token name and identifier
During token setup you will set Token Name and select a Token Identifier for your Token. You also need to set the conversion rate between your Token and the staked value token (e.g. OST Token, USDC).
- Token Name: Letters, numbers, spaces allowed, max 20 characters and 3 words
- Token Identifier: No special characters allowed, Min 1 letter required, Max 4 letters or numbers
We recommend using the default conversion rate in Sandbox i.e. 1 token = 1 OST. You can then make a more informed decision when setting-up your Token in Production. If you need help setting the conversion rate, you can reach out to us at firstname.lastname@example.org.
Things to consider when setting the conversion rate:
- Fiat value of each token (this will be subject to change if you stake a non-stablecoin)
- Fiat value of each action
- Typical token denomination: 10s, 100s, 1000s?
c. Associate an ETH Address
Install MetaMask (in Production)
MetaMask is required to participate in OST Platform in Production. You can proceed without MetaMask in Sandbox.
- MetaMask provides a browser plugin to create an Etheruem address and wallet. You can opt to use your own Ethereum address if you have one. The address that you use will be the Account Owner Address.
- The MetaMask wallet is used to sign for the token creation transactions on Ethereum ropsten test network.
- In OST Platform Sandbox, you will receive an initial allotment / stake of USDC-Test or USDC-Test. You can use this stake to Mint your Tokens in Sandbox.
- In Production, you can choose to associate a hardware wallet address using MetaMask’s interface (two hardware wallets are supported: Trezor and Ledger).
Account Owner Address
- This is an important address. If you lose the associated private key, you will lose access to Tokens you mint.
- You associate the owner address with OST Platform by doing a personal signature. This signature is to ensure you as a user are the owner of the MetaMask account and it's real.
Once you associate the owner address the token set-up process starts. This process involves running multiple blockchain transactions on Ethereum blockchain and OpenST Side Chains, so the process takes several minutes to complete.
Blockchain Transactions: Token Set-up Steps
|1||'Deploying organization contracts'|
|2||'Setting up conversion rate on origin chain'|
|3||'Deploying utility token contract'|
|4||'Deploying gateway contract on origin chain'|
|5||'Deploying co-gateway contract on auxiliary chain'|
|7||'Verifying and finalizing token setup'|
|8||'Token setup completed'|
|10||'Setting up Token Rules'|
|11||'Setting up Company Token Holder'|
d. Stake and mint
Once you have staked something, the minting process is as simple as setting the number of Tokens to mint and confirming the mint request.
Blockchain Transactions: Stake and Mint Steps
|0||Approve gateway contract to stake OST|
|1||Accepting stake request|
|2||Proving stake transaction on auxiliary chain|
|3||Locking the tokens declared on origin chain|
|4||Minting tokens on auxiliary chain|
e. Connect to the OST Wallet App (Optional)
The OST Wallet App provides a view into the OST Wallet SDK. Simply log-in to OST Platform, click on the Wallet tab and select Connect.
Check out our Connect Your Token to the OST Wallet App guide for more detailed instructions.