Activating A Token Market
Last updated
Last updated
The Amount Mintable available in your ramp's parameter section is the amount of tokens your ramp can mint from your selected token market.
Pick your token market, from the bottom left of your ramp's panel. In the image below, we pick the token market for United Arabs Emirates Dirham (AED)
Looking closely, we can see that the Amount Mintable for that token market is 0. To increase that, we would have to create and attach a bounty to our token market
Go to the page at this link
Click on the usd button to reveal the token selection window
Find the wrapped (ERC20) version of the native coin of your blockchain from the list of tokens. If you cannot find it, copy & paste its address in the search bar of the pop-up form. This will show the window below. Click on the Import button in the first form, tick the I understand checkbox in the second one, and then validate to add the token.
You should have the right token selected now. Click the Create a Bounty button to reveal the form below. Go through the description of each parameter to understand what to fill in. We are creating a bounty for our token market in our ramp so some parameters have to have predetermined values:
Validate the form and reload the page. Click the Mine Only button to reveal all your bounties then Sort By Created At to find your latest created bounty (which will be the first listed)
Click the Details arrow to reveal the details panel of your bounty. Make sure the right currency is selected (it needs to be the Wrapped or ERC20 version of your blockchain's native coin not the currency in the picture below). If not, click on the current currency's symbol to reveal the tokens' pop-up window and then pick the right currency.
Click the Control Panel button to reveal its menu then click the Add Balance button
Fill in the form with the amount of wrapped native coin to lock in your bounty; input 0 for Token ID and No for Picked Native Coin? Validate and confirm the operation.
Go back to ramps' page and attach this newly created bounty to your token market
Go back to the ramps' page, find and reveal the details section of your ramp. Pick the right token market.
Go to your ramp's control panel menu and click the Update Bounty button to reveal the form below. (Notice that since your token market is not yet activated, the Mint and Burn buttons are disabled). In the form at the right, enter the ID of the bounty you recently created and validate the form.
Congratulations! You now have an active token market capable of minting up to the Amount Mintable of your ramp which should now be more than 0 (make sure your token market is selected)
The ramp in the image above can mint up to 36 tokens. To increase the amount mintable on your token market, you have 2 options:
Add more to the balance of the bounty attached to that token market
Attach a unique profile to your ramp. This is because the amount mintable is 80% of the balance of the attached bounty to a token market for ramps with a unique profile attached to them. It is just 40% of the balance of the attached bounty for ramps with no unique profiles attached to them
Make sure you have a unique profile by creating one following the corresponding guide in the Profile product section.
Once you create your profile, make sure it is unique and it will be automatically detected by the RampHelper so you don't actually have to attach it to the ramp; you just have to create it.
This should unlock more mint capacity for your token market.
