DogeCoin’s #drc20 token now has a super low gas fee for minting, and is still in its early stages. It’s suitable for those who want to take a small risk for a potentially big return.
Here’s the process for minting a drc20 token:
- Install the DPAL wallet
- Deposit DogeCoin
- Choose the token’s name and symbol
1. Install the DPAL wallet
Create/Import DogeCoin wallet
Wallet address: https://dpalwallet.io
Note: This wallet is a third-party wallet.
2. Deposit DogeCoin
Transfer DogeCoin from the exchange to the DogeCoin wallet address and confirm the transaction.
3. Choose the token’s name and symbol
Click on the icon in the upper right corner of the plugin wallet to access the Ordinals token page, and then click on ‘Mint Ordinals’.
Minting the token
Enter the desired token name and symbol, and then send the transaction.
Token format:
{
“p”: “drc-20”,
“op”: “mint”,
“tick”: “dogewow”,
“amt”: “100”
}
A few tips:
- The #drc20 browser hasn’t been developed yet, so you won’t be able to check the results of your token minting. Each minting only requires 0.001 $DOGE.
- In addition to this, there is currently a network fee of 0.05 $DOGE per minting transaction.
- You can check your $DOGE transactions on the following browser: https://chain.so/DOGE
- Because the DPAL wallet is a third-party wallet, the drc20 protocol may not recognize all the tokens minted through DPAL as valid, since they may want to release an official wallet for minting services.
- For more information on drc20 token minting and issuance, please refer to: https://github.com/dogecoinw/cardinals/blob/main/bip.mediawiki#user-content-Introduction
