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# How to Create and Manage Your Own Token

One of the key benefits of the Waves blockchain is the simplicity of issuing tokens. To launch your own token, you don't have to write a smart contract – just create an Issue transaction and send it to the blockchain. The only threshold for the issuer is to pay a fee: 1 WAVES for reqular token (asset) or 0.001 for non-fungible token (NFT).

New tokens are immediately available:

  • for transfers between accounts,
  • for trading on the WX Network exchange developed by the third-party team from the community (except for NFTs; smart assets trading is temporarily unavailable),
  • for payments attached to dApp script invocation.

You can use your tokens:

  • as a digital currency – to pay for goods and services in your project or for crowdfunding,
  • as in-game objects or arbitratry resources and so on.

See the Token article for more information about token.

In this article, tokens and assets are synonyms (but for NFT we always use the word 'token').

# Issue Asset

💡 Asset issued without a script cannot be converted to a smart asset. If you want to add a script later, issue an asset with the script AwZd0cYf (base64 encoded Ride expression that is always true). Fee for the transaction with smart asset is higher by 0.004 WAVES.

# Using WX Network

You can use online or desktop app. See the Create Token article of the WX Network documentation.

# Using JavaScript

Use functions of waves-transactions library:

  • issue function creates and signs an Issue transaction. Transaction proof is derived from seed. By default, fee is calculated automatically.
  • broadcast sends a transation to the blockchain.

The Issue transaction ID becomes also the token ID.

See function descriptions in waves-transactions documentation on Github.

const { issue, broadcast } = require('@waves/waves-transactions');

const nodeUrl = 'https://nodes-testnet.wavesnodes.com'; // Testnet node
const seed = 'insert your seed here';

  // Issue transaction: specify token params

const myToken = {
  name: 'Spring',
  description: 'Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.',
  quantity: 100000, // Real amount (1000) multiplied by 10^decimals (100); set 1 for NFT
  reissuable: true, // Set false for NFT
  decimals: 2, // Set 0 for NFT
  chainId: 'T' // Testnet; set 'W' for Mainnet
};

const issueTx = issue(myToken, seed); // Create and sign Issue transaction

broadcast(issueTx,nodeUrl).then(resp => console.log(resp));

console.log('Token ID: ' + issueTx.id);

# Using Python

import pywaves as pw

my_address = pw.Address(privateKey='some_private_key')
my_address.issueAsset(
    name='Spring', description='Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.', quantity=100000, decimals=2
)

# Using dApp

dApp callable function can issue a token. See Callable Function and Issue articles of Ride chapter for more information.

In this example, myToken function issues a token with following params:

  • name contains part of the address of the account which invoked the function (for example, S_3Mw48B),
  • number of tokens equals to 1000 and decimals = 2,
  • token is reissuable.
{-# STDLIB_VERSION 6 #-}
{-# CONTENT_TYPE DAPP #-}
{-# SCRIPT_TYPE ACCOUNT #-}
  
@Callable(i)
func myToken() = ([
    Issue("S_" + take(toBase58String(i.caller.bytes),6), "", 100000, 2, true)
  ],
  unit
)

⚠️ The minimum fee for an Invoke Script transaction is increased by 1 WAVES for each token issued by the callable function.

# Issue NFT

A non-fungible token or NFT is a special type of a token, that represents some unique object. Each NFT has its own unique identifier. See the Non-fungible Token article for more information.

To issue an NFT, you can use any of the methods described above. Specify the following parameters of token:

  • "quantity": 1
  • "decimals": 0
  • "reissuable": false

# Reissue Asset

If your token is reissuable (you set "reissuable": true), you can append an additional amount of token (and also change the reissuable flag, if necessary).

# Using WX Network

You can use online or desktop app. See the Reissue Token article of the WX Network documentation.

# Using JavaScript

const { reissue, broadcast } = require('@waves/waves-transactions');

const nodeUrl = 'https://nodes-testnet.wavesnodes.com';
const seed = 'insert your seed here';

const myToken = {
  assetId: '39M7cn3PZ7T468vGGfkc4VtxqbeDS5ssU4tLYJeoKfn4',
  quantity: 50000, // Append 500 Spring tokens
  reissuable: true,
  chainId: 'T' // Testnet; 'W' for Mainnet
};

const reissueTx = reissue(myToken, seed); // Create and sign Reissue transaction

broadcast(reissueTx,nodeUrl).then(resp => console.log(resp));

# Using Python

import pywaves as pw

my_address = pw.Address(privateKey=some_private_key)
my_token = pw.Asset('39M7cn3PZ7T468vGGfkc4VtxqbeDS5ssU4tLYJeoKfn4')
my_address.reissueAsset(my_token, quantity=50000, reissuable=True)

# Burn Asset

Account that owns an asset (not necessarily asset issuer) can destroy some amount of the asset using a Burn transaction. The Burn transaction decreases the amount of the asset on sender's account and thereby the total amount of the asset on the blockchain.

# Using WX Network

You can use online, desktop or mobile app. See the Burn Token (Online & Desktop) and Burn Token (Mobile) articles of the WX Network documentation.

# Using JavaScript

const { burn, broadcast } = require('@waves/waves-transactions');

const nodeUrl = 'https://nodes-testnet.wavesnodes.com';
const seed = 'insert your seed here';

const myToken = {
  assetId: '39M7cn3PZ7T468vGGfkc4VtxqbeDS5ssU4tLYJeoKfn4',
  quantity: 10000, // Destroy 100 Spring tokens
  chainId: 'T' // Testnet; 'W' for Mainnet
};

const burnTx = burn(myToken, seed); // Create and sign Burn transaction

broadcast(burnTx,nodeUrl).then(resp => console.log(resp));

# Using Python

import pywaves as pw

my_address = pw.Address(privateKey=some_private_key)
asset_to_burn = pw.Asset('39M7cn3PZ7T468vGGfkc4VtxqbeDS5ssU4tLYJeoKfn4')
my_address.burnAsset(asset_to_burn, quantity=10000)

# Change Token Name and Description

You can change the name and/or description of the asset or NFT you have issued:

  • on Mainnet and Testnet: after 100,000 or more blocks (about 70 days) from the last change (or the asset issue);
  • on Stagenet: after 10 or more blocks.

💡 Instead of renaming a token, you can issue a new token and use it instead of the old one.

# Using WX Network

  1. Click your avatar in the upper right corner of the page. Select Settings. In the Settings window, select the Advanced features checkbox.

  2. Switch to the Wallet tab. Click the {} JSON button in the upper right corner.

  3. Paste the transaction code:

    {
   "type": 17,
   "version": 1,
   "assetId": "INSERT YOUR TOKEN ID",
   "name": "INSERT NEW NAME",
   "description": "INSERT YOUR DESCRIPTION",
   "fee": 100000
}

    The fee field contains transaction fee in WAVELET. The fee: 100000 corresponds to a fee of 0.001 WAVES.

  4. Click Continue, then Sign, then Send.

# Using JavaScript

const { updateAssetInfo, broadcast } = require('@waves/waves-transactions');

const nodeUrl = 'https://nodes-testnet.wavesnodes.com';
const seed = 'insert your seed here';

const myToken = {
  assetId: '39M7cn3PZ7T468vGGfkc4VtxqbeDS5ssU4tLYJeoKfn4',
  name: "New name",
  description: "New description",
  chainId: 'T' // Testnet; 'W' for Mainnet
};

const renameTx = updateAssetInfo(myToken, seed); // Create and sign transaction

broadcast(renameTx,nodeUrl).then(resp => console.log(resp));

# Using Python

import pywaves as pw

pw.setNode(node = 'https://nodes-testnet.wavesnodes.com', chain = 'testnet')
my_address = pw.Address(seed = 'insert your seed here')
my_address.updateAssetInfo('H1g2vAaNt6v1oDmxRWiv6KZeQbb5gCbcLosRfi6PqYjH', name = 'New name', description = 'New description')
Creating & Broadcasting Transactions
Airdrop