How to Launch a Token with Valorize (Part 1)

By Marco Huberts

Launching a token with the right tokenomics is easier said than done. Tokens can have many confusing and complex features, and making adjustments after deployment on the blockchain is far from ideal.

Valorize is a Decentralized Autonomous Organisation (DAO), where tokenization of communities is the main goal. Our product allows communities to create a token with features that are key in making a robust token model. Examples of these features are:

1. Setting a supply cap

2. Timed minting of tokens

3. Instant and wide distribution of tokens via an airdrop

As blockchain and tokenomics are still in its infancy, a clear and simple walkthrough of these features and their impact on a token is critical to reach mass adoption.

In this guide, we will show you and explain, step-by-step, how to create; personalize and deploy a token on the Ethereum blockchain with Valorize. More importantly, we show you how each token feature works and how they will affect the functionality of your token.

Below is a summary of decisions that need to be made before you can launch a token using our software:

Step 1: Filling out the questionnaire

This walkthrough starts by answering questions regarding your knowledge and experience with blockchain transactions. This page can be accessed here.

Step 2: Member registration

After finishing the questionnaire, you need to register your account. This can be done by clicking here or by copying and pasting this URL: https://valorize.app/register in your web browser. The following interface should pop-up:

Here, you can register yourself for free by filling in your email, username and password. This information is important as your token will be linked to this account, which allows for token management before and after deployment of your token.

Step 3: Setting up your profile (optional)

After you click submit, your account is generated. You will see the following screen:

On the left, you can see your profile and personalize it by providing a picture, your name and your bio. In addition, you can add links to your profile to provide references or to link to other platforms such as Instagram, LinkedIn and Facebook.

Step 4: Setup your Token Model

On the right of the profile screen, you see the ‘Launch A Token’ interface:

This interface consists of several fields:

1. Name

The name of the token

2. Symbol

The symbol of the token

3. Supply for Vault

The number of tokens assigned to the initial supply

4. Vault Address

The address that holds the initial supply of tokens

5. Supply for Airdrop

The number of available tokens that can be mass transferred to other addresses. The generated contract address will hold these tokens.

6. Administrators’ Addresses

The addresses that will retain administrative privileges, such as initiating the airdrop or minting of tokens.

7. Minting Allowed

Clicking “yes” allows for minting of tokens and will result in an extension of the current screen:

7.1 Total supply cap

Clicking ‘yes’ will extend the screen again (see below), and it allows you to set the maximum number of tokens that can be minted by filling out the field under ‘Max Supply’ with the desired number.

7.2 Time Between Mints

Here, you can set the number of days (a.k.a. delay) between mints. After these days have passed, a certain number of tokens can be minted again. This period is defined as the mint period.

7.3 Tokens to Mint per Mint Period

Here, you can set the maximum number of tokens that can be minted during each mint period.

Step 5: Launching a Valorize Token on the Ethereum Blockchain using MetaMask

1. Install MetaMask and its Chrome (or Brave) web browser extension as explained here.

2. Make sure to have enough Ethereum (ETH) in your wallet to deploy the token.

2.1 Here, you can buy ETH.

2.2 Transfer the bought ETH to your MetaMask wallet.

We use the Ropsten test network for this demonstration instead of the main Ethereum network. Here is an example of our wallet:

3. Fill in the ‘Launch A Token’ screen as desired and click on ‘Submit’.

Here is an example of a token model:

4. Your MetaMask will ask you to connect to the Valorize website. Confirm the connection. Your MetaMask wallet should say ‘connected’ with a green dot beside it:

5. Simultaneously, a summary of your token and its features will pop-up:

6. Click ‘Deploy to {Network}’. In this case, the Ropsten Testnet and MetaMask will ask you to pay gas fees to deploy the contract as shown below:

7. Confirm the transaction and wait till the transaction has been mined. Congratulations! You just deployed your first custom-designed token on the Ethereum blockchain! You can now go to your public profile (valorize.app/token/{id}) to manage your token.

Stay tuned for Part 2, where we describe the management of your newly deployed token!

Special thanks to Javier Gonzalez for his input on this article.

Appendix 1. Examples of Preset Token Models

Timed Mint Token:

Infinite Supply Token: