Thank you for participating in the XResearch crowdsale. As an XRES token holder, you’ll have the ability to access all the services, tools, and research on the XResearch platform — the world’s first all-in-one crypto insights portal and media platform with institutional-level analysis.
Once you’ve purchased XRES tokens, you probably want to look at how shiny they are in that wallet of yours. Or, if you plan to purchase tokens, you probably want to look at them as soon as they reach your bag of cryptocurrencies.
This guide explains how to add XRES to your ERC-20 compatible wallet, and provides an explanation of how the token works.
A word about ERC-20 tokens
WARNING: You cannot use an exchange or centralized wallet for the ICO; your money will be lost and we will not be responsible. Again, don’t transfer funds from an exchange like Coinbase, Binance, Bittrex, etc. Read this guide on how to send us Ethereum and other crypto during the XResearch ICO.
Built on the Ethereum blockchain, XRES is an ERC-20 token. As a guide in CoinTelegraph ERC-20 tokens are “designed and used solely on the Ethereum platform,” and are created by smart contracts.
If you don’t see your XRES tokens after sending Ethereum to the XRES smart contract address, don’t panic and scream. You most likely just haven’t added the custom XRES token to your wallet.
Since new ERC-20 tokens have custom details, and there are new ones coming out constantly, it’s hard for ERC-20 wallets to keep up with adding support for those tokens. So, it’s typically up to you to add token details to your wallet manually.
Steps to add the XRES token to your wallet using the MetaMask add-on
We recommend using MyEtherWallet (https://www.myetherwallet.com/), and accessing it using the MetaMask extension (https://metamask.io/).
MetaMask adds an additional layer of security because your private keys are with MetaMask (a browser add-on) and phishing sites won’t be able to steal it. There are a lot of phishing schemes out there attacking MEW users.
So, for security purposes and to not fall victim to a scam, use MetaMask to access your MyEtherWallet account (MEW) and add the XRES token.
Now, to add and view the XRES token in your wallet through the MetaMask add-on, follow these steps:
1. Access your wallet. You can access your MEW account directly through your MetaMask browser add-on on Firefox or Chrome (picture below) See this tutorial about using MEW with MetaMask.
Simply click on the MetaMask icon and enter your MetaMask password (by the way, the fox logo is cool, right?).
2. Click on “Add Token”. It’s right below your wallet details and the buy and send buttons.
You’ll then see the following screen:
3. Enter the token contract address. The XRES contract address is: ____________________.
WARNING: During the token sales, this address will only be shown on XRES.io and nowhere else. Community admins and other team members will NEVER directly message you asking to send ETH. On Telegram especially, there will be scammers that steal our pictures and create similar usernames. They will message people claiming there are issues with the site and to send ETH directly to them. Or, they may say they’re offering special discounts. Don’t trust such people. And don’t trust any ETH addresses that pop up in the main group chat on Telegram, Reddit, Discord, or elsewhere. Report them to an admin or another team member right away. They’re trying to scam you out of your hard-earned money.
4. Next, enter the token symbol: XRES
5. Then, enter the number of decimals.
6. Click Add at the bottom. You will then be able to see your XRES coins in the Tokens tab on your MetaMask wallet.
Steps to add the XRES token to your wallet using MyEtherWallet’s site
Alternatively, if you wish to add the token through MyEtherWallet’s website, the process is essentially the same. You’ll still be using MetaMask but you’ll just be adding the token directly on MEW.
Here are the steps:
1. Go to MyEtherWallet.com and click on “Send Ether & Tokens”.
2. Select MetaMask / Mist to access your wallet. Click “Connect to MetaMask”.
3. Go to the Token Balances section. Click on “Add Custom Token”.
4. Enter the token contract address (please see the warning above about this).
5. Enter the token symbol: XRES
6. Enter the number of decimals. Click “Save”.
You will then be able to see your XRES tokens in your MyEtherWallet account.
A little lesson on how the XRES token functions
When creating the XRES token, in addition to adding custom details, there are certain mandatory rules to follow. We had to implement the following mandatory ERC-20 standard functions:
- totalSupply
There are a total of 1,000,000,000 XRES tokens (1 billion).
- Transfer
This allows you to send or receive tokens.
- balanceOf
This functions enables the XRES token contract to update and maintain correct account balances during transactions, eliminating the possibility of double spending and making counterfeiting impossible.
- transferFrom
- approve
- allowance
These three functions (transferFrom, approve, allowance) make executing smart contracts possible. Read the example below to see how it works:
- User A, the token holder, gives User B approval to transfer up to 1,000 XRES tokens (from A’s address to B’s address). User A does this using the approve function.
- User B checks how many tokens have been approved for transfer to their address using the allowance function (they see it’s up to 1,000). Allowance is the number of tokens approved for transfer.
- User B sends up to 1,000 XRES tokens to their account from User A’s account using the transferFrom function.
Within the XResearch platform, when you get paid by subscribers for contributions (or subscribe to another member’s research, those three functions (transferFrom, approve, and allowance) enable smart contract operability, ensuring payments and services are exchanged according to what’s agreed.
Put your XRES tokens to use
Once you have your XRES tokens in your wallet, you can put them to use. You can trade your tokens, enjoy discounts on professional investment research on the XResearch platform, and even earn more XRES tokens as a verified contributor on the network.
If you need any help adding the XRES token, or want to understand how to put it to the best possible use, ask us on Telegram, send us an email (team@XRES.io), or post on our Reddit page. We’re always here, ready to help.
