The Easy Ledger Protocol (SLP), a token creation system constructed on prime of the Bitcoin Money (BCH) community continues to mature as builders have launched a variety of third-party purposes that help SLP tokens. Now the onchain, BCH-based social community Memo.money has applied an SLP token trade permitting individuals to checklist SLP tokens and promote them for bitcoin money.
Additionally learn: Creating Your Personal SLP-Based mostly Token Utilizing Memo
The New Trustless Onchain SLP Token Change
Memo.money is a well-liked social community that’s constructed on prime of the BCH chain the place each motion makes use of an onchain transaction. For some time now Memo has accrued customers and has added quite a lot of options because the platform’s inception. Information.Bitcoin.com lately reported on the applying including the flexibility to forge SLP tokens on the Memo platform and to retailer, ship, and obtain SLP cash as properly. On the time, we gave our readers step-by-step directions on how you can mint an SLP token utilizing Memo and defined that the method takes lower than a minute. Since then, the engineers behind Memo have added the flexibility for individuals to commerce SLP tokens onchain in a secure atmosphere. The new trade service makes use of an open supply decentralized trust-less protocol that accepts buy affords and transfers utilizing an atomic transaction.
The creators of Memo famous that the brand new function that also has restricted performance and folks utilizing the trade ought to perceive there could be bugs. Whenever you go to the Memo trade web page, you’re greeted with choices like viewing the tokens already listed on the market, the flexibility to promote a token, and an inventory of affords you already created. Proper now, trying on the listings web page reveals there are tons of SLP tokens being offered for varied quantities of satoshis. Properly-known SLP tokens resembling Honestcoin (USDH), Spice, Honks, BTC2, and Trump are being offered alongside cash you in all probability by no means heard of. The trade listings present when the tokens have been listed, worth, vendor, and a tab that lets you buy tokens being offered immediately.
Promoting Uncommon Stones
To exhibit how the Memo trade operates, I made a decision to mint six nonfungible tokens from the identical deal with and known as them the Infinity Stones or “IFS.” If you wish to attempt to promote SLP tokens utilizing Memo, you’ll need to register for an account to get pleasure from the brand new buying and selling function. Individuals who know the story of the Infinity Conflict and Thanos will know that there are six stones wanted to finish the Infinity Gauntlet to be able to harness god-like powers. So I minted tokens utilizing the Electron Money SLP pockets and every token represents the thoughts, area, actuality, energy, time, and soul stones. I designed them to be nondivisible and every stone was represented by just one token. Every stone can be tethered to a URL, which results in the unique Infinity Gauntlet comedian guide cowl.
After the stones (tokens) have been cast I despatched all of them to my Memo account dubbed “Zelda” and ready to checklist every stone on the market. On the “Checklist Tokens for Sale” web page the Memo platform offers a customizable window to create new listings. On this web page, I selected the tokens I wished to checklist, what number of tokens to checklist, the worth per token, and the full worth. I listed the six IFS tokens for 1,560,000 satoshis (0.0156 BCH) per token and for each accomplished commerce Memo takes a 1.5% payment. So the payment for every IFS commerce can be a complete of 23,400 satoshis (0.000234 BCH).
After creating the listings for all six stones, I then tweeted out my IFS gross sales on Twitter to let individuals know I had some uncommon nonfungible tokens on the market. Not lengthy after sending out my tweet, well-known BCH proponent and streamer Collin Enstad, host of “Collin’ It Like It Is,” a “no bullshit crypto present,” bought two of the stones on the Memo trade. In response to Memo, Enstad is the proud proprietor of the thoughts and actuality stones. Furthermore, Enstad determined to promote the 2 IFS tokens for double the worth I offered them for at 3,000,000 and 5,000,000 satoshis. Up to now there are 4 Infinity stones (IFS tokens) left ready for somebody to grab them up at my worth in an try to regulate the universe. Somebody should purchase them at Enstad’s worth to seize his two stones. The Memo.money SLP trade has a variety of potential, however as soon as a suggestion is submitted there isn’t a solution to cancel it proper now, the Memo engineers have defined.
— Jamie Redman (@jamieCrypto) August 14, 2019
Memo’s New Function Augments the Broad Vary of Assist for the SLP Token Universe
Memo including a decentralized method for individuals to swap token for BCH in an atomic vogue bolsters the social community’s highly effective options. Identical to the newest Cryptophyl trade and the upcoming Change.Bitcoin.com, which is able to launch on September 2, the brand new Memo SLP market additionally provides extra buying and selling liquidity to those distinctive tokens. Moreover, well-known buying and selling platforms like Altilly Change, Coinex, and Coinsuper are all itemizing SLP tokens. With all of the trade endorsements and pockets help from purchasers like Badger, Ifwallet, Cresent Money, and Electron Money, the SLP universe continues to showcase monumental quantities of progressive potentialities. Additional, Bitcoin.com will quickly be launching an SLP token dividend software that permits individuals to pay dividends to teams of particular SLP token holders. Memo’s latest buying and selling platform for SLP tokens has been welcomed by the BCH neighborhood, whereas additionally highlighting the innovation happening inside the BCH and SLP improvement neighborhood over the previous few months.
What do you consider the flexibility to promote and buy SLP tokens utilizing the social community Memo.money? Tell us what you consider this topic within the feedback part under.
Disclaimer: Readers ought to do their very own due diligence earlier than taking any actions associated to the talked about software program and buying and selling platform. Bitcoin.com or the creator will not be accountable, straight or not directly, for any harm or loss precipitated or alleged to be attributable to or in reference to the usage of or reliance on any content material, software program, trade, or providers talked about on this article. This editorial evaluation is for informational functions solely.
Picture credit: Shutterstock, Memo.money, Marvel, Wiki Commons, Infinity Conflict, and George Pérez.
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