Let's talk about Steem-engine.com, everyone's new favorite platform that uses STEEM as the trading pair (rather than Bitcoin). Recently this site came into existence and people on Steemit have been going absolute crazy over it- and for good reason. There is a lot of potential being tapped now that the community has more tools at their disposal to make the token creation and management process easier.
Right now anyone with an internet connection, a Steemit account and 100 STEEM can create their own token through Steem-engine. The possibilities are nearly endless so this creates a huge opportunity for crypto enthusiasts who have always wanted to do create their own token quickly and efficiently. The tokens are handled on top of the Steem blockchain so that means transactions are free to send and only take a few seconds.
First head on over to the Steem-engine website and go ahead and log in using one of the two methods. If you do not yet have a Steemit account don't worry they are free to create, if you are willing to wait or them to verify you, or you can create one instantly for only 3 STEEM (Steemworld.org offers this).
Now we want to deposit some STEEM into your account so you can create your new tokens, go ahead and click "WALLET" on the top of the screen.
We want to hit "DEPOSIT" and select STEEM (or whatever else you would like to deposit) and then click "GET DEPOSIT INFO".Your deposit will be converted into a pegged asset, such as STEEMP, which mirrors the price of the real asset yet allows the exchange to do business more fluidly because it conforms to their system.
After the 100 STEEMP are in your wallet go to the Steem Engine Token (ENG) page and either buy 100 at the market price of 1 STEEMP each or set your own bid price and hope someone sells you their tokens for less.
So with these new ENG tokens you will be able to pay the creation fee. Now you want to go over to the "TOKENS" page and at the top click the "CREATE" button.
This is the most important step so make sure you are fully prepared for all of the parameters and have thought everything through first. There are no take backs after this point so be 100% sure of all your information first.You can edit things like the URL but everything else is going to be permanent.
"Token Name" is obvious the name that the token is going to display in long form. The "Symbol" is the shortened ticker that it will trade under and be referred to by the blockchain. "URL" is the website that will display on your information page under the token. "Max Supply" is the absolute maximum number of tokens that you can mint, which you will able to create as needed. "Decimal Precision" is the number of decimal places your token will have... Bitcoin has 8 decimal places whereas STEEM only has 3 decimal places. You will be able to increase the decimal precision later but not decrease it.
Once you have completed this step your tokens have been created but none have been "minted". In order to do this head over to your "WALLET" and find your new token. Go ahead and click on "Show Token History" and there is a button at the top that should say "ISSUE"- this will allow you to mint however many tokens you want at the time, up to your max supply. You can issue these new tokens to any Steemit account you wish to.
Once you have created and minted you new tokens you want to upload your graphics icon that will be displayed anywhere your token is shown on the site, as well as include a description of your token for the information page. Go back over to the "WALLET" and click the "Token information" button next to your token, then click "EDIT" where you will be able to edit the decimal precision, the URL, icon image URL, as well as the description.
That's it! Now your token is ready to be sold on the market so head over to the "Token market" to access yours where you can set some sell orders and buy orders. The community is ready to buy your token now, happy trading 馃憤!
