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Work in Progress. Open issue: https://github.com/ethereumproject/TokenMint/issues/6
Welcome to the TokenMint wiki!
This is simple to use token and ICO generator created for use with the Ethereum blockchains ETC & ETH. The purpose of this generator is to make it simple for users to create their own token and crowdsale using smart contracts. Tokens are effectively a virtual currency created and secured on top of the Ethereum blockchain. An ICO is an Intial Coin Offering. At a designated price, users can offer their tokens at a set price in either ETC or ETH. This can be useful for raising funds in a crowdsale. Tokens can be used in a variety of ways, user rewards, rebates, virtual currencies, or as a voting mechanism with a Decentralized Autonomous Organization (DAO).
What is the process like?
- Preparation
Decide which Ethereum address you want your new tokens to go to & ensure you have multiple backups of that account. Decide the maximum amount of ETC you are willing to make from your offering(your Number of tokens). Ensure that account has 0.01 ETC or 0.01 ETH for gas, otherwise you will not be able to move your tokens.
- Launch a token
Make your ERC223 token. Any wallet or exchange that supports the ERC20 standard can support ERC223 tokens. ERC223 simply contains a fix to a bug that prevents tokens from being lost if they are sent to the token address. More information on ERC223 tokn standard can be found here.
You will enter the Token name, Actual number of tokens, Token symbol for trading on markets, and the number of decimal places that you would like to use and voila! Load your wallet and move on the crowd sale!
- Crowdfunding * Use at your own risk *
You will unlock your account, enter the price per token, and your fundraising goal. Now those that wish to purchase your token can do so by sending ETC or ETH at your designated price to the contract address.
US financial regulations are very strict on how funds can and can not be raised. You are not clever because you are being sneaky and using the blockchain, scammers have been doing the same thing for 100 years.
Even though you may not live in the USA. Through international treaties, that doesnt matter if you are still soliciting to its citizens. Your conuntry most likely has similar laws you are violiating such as anti-spamming and reporting rules.