Social Community Memo Provides Decentralized SLP Token Change
The Easy Ledger Protocol (SLP), a token creation system constructed on high of the Bitcoin Money (BCH) community continues to mature as builders have launched plenty of third-party functions that help SLP tokens. Now the onchain, BCH-based social community Memo.money has applied an SLP token alternate 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 high 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 a wide range of options for the reason that platform’s inception. Information.Bitcoin.com not too long ago reported on the applying including the power to forge SLP tokens on the Memo platform and to retailer, ship, and obtain SLP cash as nicely. 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 power for individuals to commerce SLP tokens onchain in a secure surroundings. The new alternate service makes use of an open supply decentralized trust-less protocol that accepts buy provides and transfers utilizing an atomic transaction.
The creators of Memo famous that the brand new characteristic that also has restricted performance and other people utilizing the alternate ought to perceive there is likely to be bugs. While you go to the Memo alternate web page, you’re greeted with choices like viewing the tokens already listed on the market, the power to promote a token, and an inventory of provides you already created. Proper now, wanting on the listings web page reveals there are tons of SLP tokens being bought for varied quantities of satoshis. Properly-known SLP tokens resembling Honestcoin (USDH), Spice, Honks, BTC2, and Trump are being bought alongside cash you in all probability by no means heard of. The alternate listings present when the tokens had been listed, value, vendor, and a tab that permits you to buy tokens being bought immediately.
Promoting Uncommon Stones
To display how the Memo alternate operates, I made a decision to mint six nonfungible tokens from the identical handle and known as them the Infinity Stones or “IFS.” If you wish to attempt to promote SLP tokens utilizing Memo, you will want to register for an account to take pleasure in the brand new buying and selling characteristic. Individuals who know the story of the Infinity Conflict and Thanos will know that there are six stones wanted to finish the Infinity Gauntlet with a purpose to harness god-like powers. So I minted tokens utilizing the Electron Money SLP pockets and every token represents the thoughts, house, actuality, energy, time, and soul stones. I designed them to be nondivisible and every stone was represented by just one token. Every stone can also be tethered to a URL, which results in the unique Infinity Gauntlet comedian guide cowl.
After the stones (tokens) had been solid I despatched all of them to my Memo account dubbed “Zelda” and ready to checklist every stone on the market. On the “Listing Tokens for Sale” web page the Memo platform supplies a customizable window to create new listings. On this web page, I selected the tokens I needed to checklist, what number of tokens to checklist, the value per token, and the whole value. 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% price. So the price 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 alternate. 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 value I bought them for at 3,000,000 and 5,000,000 satoshis. Thus far there are 4 Infinity stones (IFS tokens) left ready for somebody to grab them up at my value in an try to manage the universe. Somebody must purchase them at Enstad’s value to seize his two stones. The Memo.money SLP alternate has a whole lot of potential, however as soon as a suggestion is submitted there isn’t a method 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 Help for the SLP Token Universe
Memo including a decentralized manner for individuals to swap token for BCH in an atomic trend bolsters the social community’s highly effective options. Identical to the most recent Cryptophyl alternate 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 alternate 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 device that permits individuals to pay dividends to teams of particular SLP token holders. Memo’s current buying and selling platform for SLP tokens has been welcomed by the BCH group, whereas additionally highlighting the innovation happening inside the BCH and SLP improvement group over the previous few months.
What do you concentrate on the power to promote and buy SLP tokens utilizing the social community Memo.money? Tell us what you concentrate on this topic within the feedback part beneath.
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 just isn’t accountable, immediately or not directly, for any injury or loss brought about or alleged to be brought on by or in reference to the usage of or reliance on any content material, software program, alternate, or companies talked about on this article. This editorial assessment is for informational functions solely.
Picture credit: Shutterstock, Memo.money, Marvel, Wiki Commons, Infinity Conflict, and George Pérez.
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