System asset issuance

The process of token issuance can be classified as the process of distribution of the pre-issued tokens. It is performed either manually by the admin or automatically.

Manual issuance

Only available to admins with the asset manager and issuance manager rights.

Manual issuance implies that the admin transfers the specified amount of tokens on the wallets of certain users. The admin flow is the following:

Step 1. In the navigation bar, go to System assets Step 2. Go to the Issuance tab Step 3. In the Receiver box, type the email of the receiver (be sure that the receiver has the right to operate with the specific asset you are sending him. Example: if the token has a Requires KYC property, then only users who passed the KYC procedure will be able to operate with this token.) Step 4. In the Reference box, type the description of the issuance Step 5. In the Asset list, select the asset you will be issuing Step 6. In the Amount box, enter the amount of issuance Step 7. Click Issue Step 8. In the dialogue box, click Submit

Note: the tokens will not be issued in case a user didn’t add it to their wallet.

Automatic issuance

Automatic issuance takes place when a user deposits a certain amount of the currency on the platform and in return receives tokens backed by this currency directly from the pre-issued amount, automatically.

Example

You have created the ETH-backed system asset and pre-issued 100 tokens of this system asset (Note: what you’ve pre-issued are not the real ETH coins but just tokens backed by the actual 100 ETH coins that the owner of the platform keeps in some safe place – a cold storage, for example.

When a user deposits 1 ETH coin on the tokenization platform, this coin is being transferred to the ‘safe place’, while the user is being given a 1 ETH-backed token that’s been issued to him/her directly from the pre-issuance.