How to Launch a Token with Valorize (Part 2)

By Marco Huberts

In Part 1 of “How to Launch a Token with Valorize”, we described the launch of a new token using Valorize’s token launcher (https://valorize.app). In Part 2, we will describe, step-by-step, the management of your newly deployed token using the token dashboard.

After you launch your token, you will be automatically redirected to the token admin page of the token dashboard:

This page summarizes previously determined token parameters, such as current supply; max supply; next minting allowance (=amount of tokens that can be minted during each time period); time to next mint and the minter (an address that can mint the tokens). The administrator addresses, the network the token has been deployed on and the contract version are also shown in the bottom half of the token admin page.

Step 1: Setting the Minter Address

By default, the minter is not set after token launch, so that is what we want to do first. When pressing “Set Minter”, an address field will pop-up:

In this field, you can fill in any address that you find suitable to be a minter of tokens. This address is often one of the administrator addresses.

When this address is filled, press “Set Minter”. Then, your MetaMask wallet will pop-up asking you to confirm the transaction. This process is similar to the MetaMask wallet transaction confirmation in Part 1. Great! Now, our minter is set.

Step 2: Minting Tokens

In Part 1, you could choose to set an amount of tokens that can be minted per minting period. If you did not set a minting period, this would allow you to mint the next minting allowance instantly.

However, in this case, we have to wait one day before we can mint. When we click the “Mint Now” button, the following error will be displayed: “Error: execution reverted: ERC20TimedMint: Cannot mint yet”.

When the time to next mint has passed, you will be able mint tokens by clicking “Mint Now”. This will trigger MetaMask, and it will let you confirm the transaction. When the transaction is mined (registered on the blockchain), the current supply will be increased based on the set minting allowance.

Step 3: Creating an Airdrop

At the top of the page, we see the Create Airdrop tab right next to the Token Admin page. When we click on that, we see the following screen:

In the top left corner of this page, we see the previously set airdrop supply of 1 million XVALOR tokens. To distribute a certain amount of tokens to a list of addresses, we need to upload a CSV file containing this information. An example of such file is shown below using Microsoft Excel:

The address and amount of tokens that can be airdropped only need to be separated by a comma (no space after the comma), and both address and token amount need to be in the same cell per address. Uploading this file shows this screen:

This screen summarizes the data in the CSV file and allows you to set the duration of the airdrop. This is the time period where people can claim their airdropped tokens. Confirm the data you uploaded, confirm the transaction via MetaMask and wait till it the transaction has occurred. Once the transaction has been included in the blockchain, you will see the following screen:

Step 4: Checking Airdrop Eligibility and Claim Airdropped Tokens

Now that you created your first airdrop, you can go to the claim page and fill in an address to see if that address is eligible for this airdrop.

Filling in an eligible address and pressing “search” will show you this:

Press “Claim Now”, and MetaMask will pop-up to let you confirm the transaction. Great, you successfully claimed your airdropped tokens.

Step 5: Viewing Your Airdropped Tokens in Your MetaMask Wallet

Now that you received your airdropped tokens, you want to see your tokens. And, you want to know how many you received. To see your tokens in your wallet, we need to import the token to your wallet by following these steps:

1. Go back to your token admin page
2. Click “see on Blockexplorer”
3. Copy the contract address:

Go to your MetaMask wallet, and click on import tokens on the bottom part of the MetaMask wallet interface:

Click on “import tokens”, and you will see the following screen:

Paste the contract address that you just copied, and the Token Symbol and Token Decimal fields will be filled in automatically, see below:

Press “Add Custom Token”, press “Import Tokens”, and you will see your token in your MetaMask wallet, congratulations!

Stay tuned for Part 3, where we will describe how to make your token available for trading on a decentralized exchange!