Unicrypt Services – Token Minting introduction

Pre-requisite:

1. Metamask installed in Chrome
2. Get at least 1 testing kovan ether from https://gitter.im/kovan-testnet/faucet (Note: This may take up to a few hours until the test ether will be available in your metamask wallet)

Browse to “https://app.unicrypt.network/dashboard"
for the list of unicrypt services:

a. Liquidity Locker
b. Token Locker
c. Token Minter
d. LaunchPad

We begin with Unicrypt Token Minter, below is the Token Minter Service Description which is self-explanatory

The benefit of using Unicrypt Token Minter is also quite obvious as below:

However, it will come with a costs:

1. Your team has not controlled on your token contract, Unicrypt Token Minter is a standard token minting service. It is not designed for any customization.
2. The service charges 0.2% of your total supply + 0.1 ETH. Definitely not for those utility token project which has very large amount tokens standby for future marketing/community building purpose.
3. Potentially smart contract security vulnerability as the token contract security is as good as the capability of Unicrypt team. There is no way your team can audit and fix any bug/vulnerability.

Your team should give a careful thought on whether Unicrypt Token Minter is what you should leverage on.
For some small team who don’t want to spend too much resource and not concerns on the above considerations. Unicrypt is definitely a great choice to start your token project.

Lets try the Unicrypt Token Minter:

1. Token Name
2. Token Symbol
3. Total number of token supply you want to mint
4. standard recommendation of 18 decimal

Begin to mint your token and pay the network fees (i.e. 0.1 ETH + 0.2% of the total supply of your tokens)

Once the mint token process is completed, you should see the tokens is ready as per below.

Click on DUT token detail page and go to “info” tab to get your token contract address

Add that to your Metamask wallet

You should see the mint tokens appeared in your metamask wallet