How to add an ALV Trustline

[Guest]

While I realize this topic was created previously by Allvor in a previous thread; I would like to expand and elaborate a bit on how this process happens, and also give anybody else a place to ask questions specifically for this topic.

 

First of all: Allvor's initial distribution air drop is still ongoing. There is no end in sight yet: But they will be the first to let us know.

https://allvor.org/get-alv/

https://allvor.org/2018/05/12/how-to-get-alv-on-your-toast-wallet/

 

This is a straightforward how-to that they have previously made, and even a bit dated. Toastwallet now supports adding trustlines even through your mobile device; so this does not have to occur on a desktop.

 

https://allvor.org/add-a-trust-line/

"What is a trust line?
A trust line represents an authorization for another account to send you payments in the specified currency and amount. The assets created in the XRP Ledger, such as ALV, need a trust line to be sent and received between two accounts.

When you create a trust line in your account, it is enabled to receive payments sent by the other account. In short, a trust line identifies an account that can send you payments, the currency that can be sent, and the maximum amount that is accepted.

The basic information of the trust line is the currency’s acronym (“currency)”, the address of the account you wish to authorize to send you payments (“counterparty”), and the maximum limit of the authorized amount (“limit value”). "

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A trust line for Allvor

The basic data for adding a trust line for Allvor are as follows:

Currency:         ALV

Counterparty:  raEQc5krJ2rUXyi6fgmUAf63oAXmF7p6jp     <--- This is the distribution address.

Limit Value:     100,000,000

________________________________________

In no way does a trust line compromise your account in such a factor that they have access to any of your funds; not even ALV.

 

In case you are worried further, here is confirmation from David Schwartz himself.

 

Edited July 18, 2018 by Guest

[gomoku]

Here's a tutorial by Wietse Wind (Twitter), well-known developer,  on how to add a trustline to ALV. Uses your 24-word mnemonic for the Ledger Nano S. For Windows users. Found it useful. Easy to follow.

Once the trustline is set, and presuming you meet Allvor's holding/date requirements, you just go to Allvor's 'Get ALV' page, enter your address, and you're done.  You can then check your XRP and updated ALV holdings on Bithomp.

 

 

 

Edited July 18, 2018 by gomoku

[xrp_py]

If we hold XRP, until what date do we have to claim our Allvor? I'm thinking of just waiting for a simpler and less tech-savvy way to make my claim in the future.

[Guest]

3 minutes ago, xrp_py said:

If we hold XRP, until what date do we have to claim our Allvor? I'm thinking of just waiting for a simpler and less tech-savvy way to make my claim in the future.

Allvor stated specifically that there is no date in sight yet for being unable to claim Allvor anymore; but they will create an announcement when they do.