How to Launch a Utility Token

Jesse Adams, Ph.D.
Jan 2, 2018 · 2 min read

Do you have a product or service you want to sell via a digital token? It took me about 50 hours of searching, learning and tinkering to simplify and figure this out, so let’s speed things up for you and see if you can do it in 10 minutes.

Onward and upward! :)

Go to remix using Chrome after installing the MetaMask plugin for Chrome and setting up your den. (passwords etc.)

Under settings in remix, select the “0.4.19+commit.c4cbbb05” compiler version.

Then paste this code into the editor window and modify it with your token name, your proceeds wallet address, your token reserve wallet address, and the Ethereum blockchain start and stop blocks of your sale. To see where the Ehtereum blockchain is count-wise, check the blocks here. For planning, Ethereum is clipping along at about 4 blocks per minute.

Send some ETH (from Coinbase or another wallet) to one of your MetaMask Ethereum wallet addresses. Less than $50 of ETH should do. Make sure that the wallet is selected in MetaMask or is the main wallet in the browser where you are working in remix. If you want to test a bit more, select the Ropsten network in MetaMask and use “pretend” ETH to see how this all works.

If you’re feeling lucky, or have already tested on Ropsten, deploy the contract on the Main network by pressing the Create button. Then, copy the contract address you get allocated — save that — and construct your token by pressing the COR constructor button.

You’re live!

Sell your product or service, and incentivize your community using your new Utility Token and MEW.

See why this just might be a revolution?

PS: To mint and receive your new token at a MEW wallet for use, send ETH to your contract address during the time interval between the start and stop blocks of your token sale and include the data in the data field: 0xb4427263 (which is the first 8 characters of the Keccak-256 hash of the charaters: createTokens().. and calls the function in your contract to mint tokens.) Happy building!