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How to list a token of the TRON blockchain
How to list a token of the TRON blockchain
Blockchain

How to list a token of the TRON blockchain

By Eleonora Spagnolo - 29 Aug 2020

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Recently a new TRON platform has been launched that allows users to both exchange tokens and list their own token based on this protocol.

It is called JustSwap, a platform very similar to Uniswap which instead supports tokens from the Ethereum blockchain.

As previously seen, it is quite simple to list a token on Uniswap and so, in the same way, it is possible to list a token on JustSwap, create a pool or add liquidity to an already created one and receive fees in return.

To list a token based on the TRON blockchain on JustSwap, a few things will be needed:

  • A Tron account with several resources locked both in terms of Energy and Bandwidth;
  • The token to be used in the pool, even one created by a user;
  • Tron (TRX) that will serve as a reference token to put a price on our token;
  • The TronLink wallet.

Justswap, the guide to list a token on the Tron blockchain

The first step is to connect to the JustSwap platform and go to the “Swap” section in the left side menu and click “Pool”.

At this point, after clicking the “Add Liquidity” button, there will be the screen where the total of Tron (TRX) and the token to be listed must be entered.

It is also possible to enter the address of the token, with its quantity.

Moreover, it should be remembered that the tokens must first be unlocked by pressing the “Approve token name” button, after which it is necessary to confirm the transaction that will consume 22473 of Energy and 346 of Bandwidth, and then click on the “Supply” button confirming this transaction via the wallet.

Finally, the pool will be opened and the user will receive the tokens related to the pool, in this case TRX/JST tokens that will represent the position and will allow participating in the distribution of the pool fees: the higher the liquidity, the higher the fees will be received.

It should be noted that this pool system is subject to what is called impermanent loss, i.e. the negative variation of a price of one of the two tokens.

The ratio between the two tokens initially is of the 50/50, therefore in order to obtain a profit, it is always necessary to estimate which token to choose and to hope that its value does not go down too much.

With this method, a token will be listed in a decentralized way and anyone can buy it from the pool, without going through tedious procedures or providing personal data to an external person as in the case of a centralized exchange.

 

Eleonora Spagnolo
Eleonora Spagnolo

Journalist passionate about the web and the digital world. She graduated with honours in Multimedia Publishing at the University La Sapienza in Rome and completed a master's degree in Web and Social Media Marketing.

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