Now that we are on the Ignis chain and we have our Ignis balance, it’s time to create our asset. Remember I mentioned that when we switched to the Ignis chain earlier that we now had an Assets menu setup, well now it’s time to use it!
Click on the menu item to expand the items and then at the bottom you will see a new menu item named Issue Asset. Clicking on this will show a pop-up window that should look similar to the below:Empty Issue Asset form
As you can see in the warning message at the top, creating an asset is final. In the same way an ERC-20 token can’t be changed once submitted, this is the same as an Ignis asset.
The options presented to you at this point are pretty straight forward, but for the sake of completeness let’s go through them all.
Asset Name: This is the name you want to give to your coin. The name must be between 3 and 10 characters long, only latin characters, no spaces and doesn’t need to be unique.
Description: This is a description you want to give to your coin to let people know what it is for.
Singleton Asset: Tick this if you only want one of this asset to exist, this will also force the quantity field to 1 and the decimals field to 0.
Quantity: Enter here the amount of your asset you want to be made available.
Decimals: Enter here the amount of decimal places you want your assets to go to. For example, selecting 0 decimal points means only whole pieces can be traded between users, 2 decimals would act more like the fiat currencies we are used to in current society. The maximum is 8.
Fee: To create your asset on the network, you need to pay a fee in Ignis to do so, clicking the Calculate button will automatically fill this in for you. The current fee is 0.1 Ignis which is roughly $0.01 in USD value. I didn’t mention how cheap it was to do this either did I?
Passphrase: You need to enter your passphrase to confirm you are who you say you are and to be able to issue your asset to the Ignis chain of the Ardor network.
Once you have completed all these fields, and your form looks something similar to mine below you are ready to click the Issue Asset button:Fully completed Issue Asset form
Once you hit Issue Asset and assuming all went well, a green notification should pop up informing you that the transaction was successful and that your asset will be issued soon.
You may need to wait for your transaction to be confirmed and propagated through the network but once complete you can easily confirm that your asset has been created.
This time click on the My Assets menu item in the sidebar under the Assets tab and you will see your new asset listed, similar to mine below:Confirmation our new asset was created
From here, you have options such as sending some of your assets to another user, burning some of the assets or creating more. For more control over the ability to cap the number of supply and not allow burning or minting assets, you may want to look at issuing a currency on Ignis instead (check for another blog post on that soon).
Built into the Ardor wallet is its very own Asset Exchange which enables you to sell your token for Ignis easily. Below is a screenshot of me setting up a sell order for 50,000 of my new asset at 0.1 Ignis per token.Exchanging your asset for Ignis
And that is it, you have now successfully created an asset on the Ardor network, on the Ignis Child Chain and offered it for sale on the inbuilt Decentralised Asset Exchange.
You can now do whatever you like with your new asset, including running your own ICO to disperse the tokens, building your own dapp using your new asset to interact with, or just stare at its beauty. Let your imagination run wild!
Who knew the Ardor wallet was so easy and intuitive to use and we haven’t even scratched the surface of what can be done yet.
Stay tuned for further posts on building a dapp with Ardor, issuing a currency, running polls, the decentralised exchange, data cloud, bundling, marketplace and much much more!
If you would like to donate any Ardor or Ignis please do so to my personal account ARDOR-BU6M-JLSV-9GLF-3MEYA