Issuing your own token on Waves couldn’t be simpler, in the Waves client there is a tab for “Token Creation” where you can give your token a name and description, choose the total token and decimals and then create it.
It costs just 1 Waves to do so and then your token can be traded on the DEX.
At the top-left corner click on the Create token to start the creation process.
Note: Before creating a new asset, please make sure that you have at least 1 WAVES on your account to pay the fee charged for the asset creation.
You'll see the following window:
Let's describe each boxes:
Name of your asset: First of all, give your token a name. Important to know here is that names are not unique to prevent name squatting but the identifier, also called asset ID, is unique. Whenever you are looking for a token, search and confirm it is the right one by checking the asset ID. However, if our anti-spam system detects duplicate names, it will automatically mark as spam tokens. So, before you start, please read carefully condition for creating new tokens;
Description: Write a description for your token. You are also able to include website links which are particularly useful considering the asset description as of now is unchangeable;
Total tokens: Define the total supply of your token. The total supply can either be fixed at issuance or increased later by making the asset re-issuable;
Reissuable: Re-issuable defines if an asset issuer can increase the token's supply at a later point or not. If set to "Reissuable", the issuer can increase the supply any time. It's also important to know that if re-issuable is set to true at the beginning, it can still be changed to false at a later stage;
Decimals: Set how many decimals your asset shall have. For example, if you set 8 decimals as in Bitcoin, your token can be divided down to 0.00000001. If you set 0, your token can only be transacted in whole pieces (1, 3, 15);
Smart asset: A Smart Asset is an asset with an attached script that places conditions on every transaction made for the token in question. Each validation of a transaction by a Smart Asset’s script increases the transaction fee by 0.004 WAVES. For example, if a regular tx is made for a Smart Asset, the cost is 0.001 + 0.004 = 0.005 Waves. If an exchange transaction is made, the cost is 0.003 + 0.004 = 0.007 Waves. Learn more
Note: Before creating a new Asset, make sure that you have at least 1 WAVES for asset creation fee. Note: The name of the created asset can not be shorter than 4 characters.
Check all fields in the Preview box and if everything is OK, click on the Generate button.
After that please carefully read asset creation conditions and if everything is correct, click on the Send. If not, please change the name of the token under the token creation conditions by clicking Go Back.
After all you'll be able to see your newly created token in the Portfolio.
You can sort and easily to find your tokens in the Portfolio settings.
See more articles in the Assets Management chapter.