HADA and HADALITE- An experiment in NFT’s, XRPL and DEX.

[CuentosDeHada]

Hello XRP Community,

I have been a long-time viewer of these boards and XRP holder. I've been interested in crypto for some time and first came by XRP when transferring ETH and BTC to and from exchanges. It was far cheaper and quicker to convert to XRP before sending and converting back. At which point I realized how much of a game changer XRP and other coins are/will be and stopped converting back to other currencies.

Until recently, without significant coding skills, there was not much ability to participate in XRPL except for holding and trading XRP.

I think this has now changed with the launch of XUMM, XRPTOOLKIT, SOLOGENIC and XUMM.COMMUNITY and other Dapps. They provide gateways/clients for the laymen to access and interact with XRPL all be it some of the apps may not be completely polished.

I decided to try it out in the XUMM app where I found a “create token” app. I created two tokens, HADA and HADALITE, using the XUMM app and XUMM.COMMUNITY tool. I have also managed to get the HADA/HADALITE tradable pair on the DEX via XRPTOOLKIT and SOLOGENIC. 

I am not a financial expert, coder or technical guru just someone interested in trying out new technology. The decentralised exchange (DEX) capacity of the XRPL and NFTs are fascinating as too is Defi. I guess these tokens would be termed NFT's although they have no tangible value.

I'll explain WHY I did this, WHAT the differences between the TOKENS are and HOW you can get some.

 

WHY?

I wanted to know how I could use XRP and XRPL for its intended purpose as an individual and felt the best method to support the XRP ecosystem would be to learn to use it. Wallet creation, tokenisation, creating trust lines and exchanges all use the ledger and expend or lock-up XRP.

Flare Finance is an exciting development and sort of set me of on this path through creating trust lines for the pending airdrop.

I have no intended use case for these tokens, there is no white paper, there is no team this is just a bit of fun and a way to learn through experience how to use the XRPL and various Dapps.

I see this as an educational exercise in anticipation of Flare Finance and XRPL NFTs as well as allowing the community to interact in a positive way, not just charts, moons and lambos. Maybe there is a way to gamify onboarding and uptake of functionality.

I’ll try to provide instruction for how to claim HADA tokens using the XUMM app and XRPTOOLKIT below. However, this is new to me too. Improvements and constructive suggestions are welcome.

 I will also investigate other wallet options, exchanges and apps in the future or as requested.

If anyone has a list of available XRPL Dapps that would be helpful.

 

WHAT?

I created two tokens through the XUMM app using the token creator tool and followed the instructions. It was simple and took about 3 hours. It has taken longer to write this then create the tokens. I have no idea if it was done correctly and there are some risks associated with token creation.

The first token, HADA COIN, had an initial issuance of 10B tokens with the capacity to issue an infinite amount when desired. Another 50M was issued to investigate how to issue more coins. I set a 0.5% HADA transaction fee which is returned to the issuance wallet and charged to the sender. The transaction fee rate can be changed as desired. Rippling is enabled on the issuance wallet.

WARNING - there is a transaction fee of 12 drops when sending or receiving either token, placing buy or sell orders and creating trust lines.

The public address for the HADA issuance wallet is:    

https://bithomp.com/explorer/rsR5JSisuXsbipP6sGdKdz5agjxn8BhHUC

The issued tokens are required  to be sent to another wallet or “receiver wallet”.  They can not be sent to the same wallet as the issuing wallet.

The second token, HADALITE, has a finite amount of 10B tokens. No more of these tokens can be issued. These were issued via a NEW paper wallet created using the XUMM app and the keys burnt. There is no transaction fee for HADALITE, other than the usual drops, and rippling is enabled on this wallet.

WARNING - when issuing a finite number of tokens you will permanently destroy the regular key and secret key and block incoming and outgoing transactions for that account. You will not be able to access any tokens including the XRP used to create the wallet or any other balance it contained. 

ALSO, issuing accounts must have rippling enabled. Receiving accounts are recommended to have rippling disabled.

The issued HADALITE token was sent to the same receiver wallet as before whilst destroying the keys of the issuance wallet.

The public address for the HADALITE issuance wallet is:        

https://bithomp.com/explorer/rHiPGSMBbzDGpoTPmk2dXaTk12ZV1pLVCZ

If you look on bithomp you can see the above account issued the HADALITE and has a total of 25 XRP locked in it FOREVER (Be Careful).

This account is set to NOT receive XRP and has rippling enabled. You can however send HADALITE to the issuance account where it is burnt. I sent 1 HADALITE to try it out. You can not SEND any other token to this account including HADA COIN as there are no further trust lines set. DO NOT send ripple to this account, it will be lost.

The HADALITE issuance account has rippling enabled.

Both tokens were sent to the CuentosDeHada receiving wallet with the public address:           

https://bithomp.com/explorer/rwKgwydb7NRHNS8gVpG6QEP2tYqPhroYrK

I have left some residual XRP and SOLO in this account to pay for transactions and to experiment with escrow and trust lines. Rippling is disabled on this account.

 

DISTRIBUTION

I would like to distribute as many of the tokens as I can to anyone that wants them for testing the various suite of apps which act as gateways for the XRPL.

As this is for fun I thought I’d try to gamify the learning experience with rewards of HADA and HADALITE for completing tasks associated with onboarding, trust line creation, escrow, encrypted messaging, burning and trading.

Initially, I’ll distribute 10M HADA and 10M HADALITE to those who create trust lines to the respective issuers (instructions below). A bonus of 50M of each token will be given to the first 10 wallets to create trust lines.

1B HADALITE will be retained by the receiving account and is to be used to experiment with escrow, incentives, trading, and other features.

If possible, all HADA COIN will be distributed and more HADA will be issued as and when required.

50M HADA and 10M HADALITE have been sent to the HADA issuing account for posterity.

I gave the same to two friends who created their first wallets and helped in some capacity testing trust line creation.

I’ll distribute another 40M HADA to anyone who creates a fresh wallet.

There is an escrow of 1000 XRP between the HADA issuance account and the HADA receiving wallet which is set to expire on Aug 31st 2021 at 00:000 UTC. If there is any traction with this project the XRP can remain in the account to cover any costs or create incentives.

A decision on any excess tokens will be made in the future, hopefully, by a community or driven by a use case or simply burnt.

HADA COIN can not be burnt at present. A wallet can be created for this purpose in the future if needed. Or maybe sending to a general XRP black hole wallet would work, I don’t know.

 

HOW TO GET  HADA?

There will be some effort on your part if you wish to participate. If you don’t already have one you will need the XUMM app on your phone which will cost 20 XRP to activate and you will require a pen and paper to write down the secret keys (lowering the wallet creation fee would be good news).

You can also integrate XUMM with existing XRPL wallet addresses.

A further 5 XRP will be required to create each trust line (10 XRP in total) and a small amount for transaction costs.

In total you will need 35 XRP to participate at a basic level. 30 of which you will get back if you decide not to continue.

Creating a buy or sell order on the DEX temporarily locks up 5 XRP for the period of the trade and placing the trade requires a few drops. So if you wish to trade you will need some extra XRP in reserve to place orders.

The XUMM wallet can be downloaded from Google Play or the App Store https://xumm.app/.

You will need to create trust lines with the HADA and HADALITE issuance wallets which will temporarily lock up 5 XRP whilst the trust line is active

There is a transaction cost of a few drops to create or destroy the trust line or sign any other transaction (i.e. set trade buy or sell order) on the XRPL. I don’t know the implications of destroying a trust line with respect to sending/receiving the token.

At present, I see no way to add custom trust lines in XUMM so you will have to do this via XRPTOOLKIT or SOLOGENIC. Both apps are similar but have different UIs. I’ll explain here for XRPTOOLKIT.

 

XRPTOOLKIT - Creating trust lines

https://www.xrptoolkit.com/

Set up a trust line as follows:-

·       Open XRPTOOLKIT  on a web browser

·       Connect your XUMM wallet to XRPTOOLKIT  (Follow the instructions)

·       Select account/assets or the add asset tab

·       Select the Custom Edit tab (You will see an input for the issuer, currency, and limit)

·       Input the issuer address from the table below for the desired token

·       Input the currency ID for the desired token

·       The issuer address and Currency ID must be for the same token

·       Set the limit to how many tokens maximum to receive (leave as default, 100M, this can be changed later)

 

Token - HADA

Issuer Address - rsR5JSisuXsbipP6sGdKdz5agjxn8BhHUC

Currency ID - 4841444100000000000000000000000000000000

 

Token - HADALITE

Issuer Address - rHiPGSMBbzDGpoTPmk2dXaTk12ZV1pLVCZ

Currency ID - 484144414C495445000000000000000000000000

 

·       Open the Show More tab and check the flag is “SET NO RIPPLE”

·       If the issuer address and currency ID are correct the NEXT button will be highlighted

·       If the NEXT button does not highlight there is an error with your address and/or ID

·       You will then be requested to sign for the transaction on the XUMM app (5 XRP will be locked up and you will be charged 12 drops to open the trust line).

·       I will monitor newly created trust lines, verify the address and send the required tokens to your account.

 

If you have any issues claiming your HADA or HADALITE please DM through this forum or contact hada@protonmail.com.

This is an educational project, and you may not receive the tokens immediately, be patient, I’ll be sending them manually when I can.

 

SOLOGENIC

https://sologenic.org/

To trade HADA and HADALITE on the DEX you will require a gateway. The best I have found so far is SOLOGENIC which allows for the trade of “Custom asset 1” to “Custom asset 2”. You should also be able to trade via the XRPTOOLKIT.

To trade HADA for HADALITE on the DEX with SOLOGENIC follow these instructions:-

·       Connect the XUMM wallet to Sologenic (follow the instructions)

·       Once connected, select ACCESS DEX

·       Select the MARKET tab on the left-hand side and a CUSTOM pair tab should appear

·       Select the issuer currency dropdown box and select “Other”

·       Enter the issuers address from the table above for the desired HADA or HADALITE token and click SEARCH

·       The currency should then be discoverable in the currency drop down box below the search box

·       Select the currency

·       Click confirm

·       Repeat the steps above for the counter currency using the alternate currency address from the table above

·       Click confirm

·       Click confirm again

·       This should redirect to a trading platform for the HADA/HADALITE pairs

·       I have started to create an order book

·       Check the Star in the top left corner to add the pair to your favorites for faster access

·       Try buying and selling HADA/HADALITE, creating orders and getting used to the signature process on XUMM

This is an exercise and a way to learn and understand the DEX without risking our precious Zerps. However, a few drops will be spent when placing any buy or sell orders between the HADA and HADALITE pair and a reserve of 5 XRP is required to place any trade.

WARNING – The DEX can be confusing, especially when reversing pairs. Be careful as you may inadvertently buy when you meant to sell or vice versa. This is not trading advice just a way to understand the DEX.

 

WHATS NEXT?

I have locked 1000 XRP in an escrow for release on 31st August 2021. If there is any traction with this project (i.e. 50 % of HADA coins have been distributed) the XRP can remain in the account to pay for any incentives, costs or put back into escrow.

At present the use case will be rewards for completing tasks (i.e. sending secret message via XRPL, creating trust line via Gatehub or other software).

Automate certain processes such as issuance and distribution.

I have reserved a twitter handle @hadacoin. Just in case.

If others would like to learn how to create their own token or already have one let me know I would be happy to exchange / create trust lines etc…. or give advice.

It could be interesting to develop the HADA ecosystem using only services and goods purchased using XRP (i.e. purchase a web domain name using XRP, pay for services using XRP).

 It would be nice to create a Logo, Icon, or website paid for using XRP.

Develop a governance / voting method.

Assign tangible assets (virtual and real-world) to a token (new or existing) and further experiment with NFTs and token issuance.

 

DISCLAIMER

This is not an investment contract nor a common enterprise and there is no expectation of profits derived from the efforts of others or myself. The value of HADACOIN or HADALITE is zero and is not expected to increase above zero. There is no intrinsic value in these tokens, and you could lose money by participating.

Despite that, if you live in the USA the decision to participate is at your own risk.

This is a personal project. I have no connection to any of the above application developers or Ripple. However, I think they are doing a spectacular job.

 

USEFUL LINKS

https://xrpl.org/

https://blog.ripplex.io/building-a-more-sustainable-scalable-and-accessible-future-for-nfts-with-xrpl/

https://xumm.community/

 

If anyone would like to assist further in this project in any way please contact HADA at hadacoin@protonmail.com.

If you have read this far, thank you and if you want more I’ll give you another 10M HADALITE and HADACOIN. Send an email or DM with the code HADACOINx2 and your public address in the text and I’ll send you another 10M tokens of each.

Thanks

HADA

[Julian_Williams]

Welcome.  Love the disclaimer!  (you obviously learn from the mistakes of others)

I am not a techy, but I find what you have done fascinating.

You should really do a cat token meme coin.  Call it Neko Chan - which means charming little kitten in Japanese.  You might do an Inu-shiba and be worth billions within weeks.  I really do not understand these things but could you put it on top of ADA tech, that will explode when it becomes available

I have a domain called www.MILY.com This would be an ideal name for a coin because it sounds like family money - and mill (x1000) and million (x1,000,000)

Just my first thoughts, which are probably not thought out.

 

how about an Olympic coin? but maybe you would run into copywrite problems using the word Olympic

Edited May 26, 2021 by Julian_Williams

[CuentosDeHada]

Ooh, the first trust line created.

60M HADA and 60M HADALITE on your way. I trust you received it.

Thanks for the support.

@Julian_Williams nice 4 letter domain. Let's not write anything of, this space is crazy.  MILY the cat token could work. The antithesis of DOGE.

https://crypto.com/nft/marketplace?asset=70f1126424e1b39381a7afdb302e1c23&edition=5b25428846cf7a8d09448f390cae6cdc

Does anyone know if this is for the actual vase/cup or just the image?

[RambeauTeasebox]

@CuentosDeHada Great to see more experimentation! I'd suggest posting this on Reddit in r/XRP and r/Ripple.

 

Bitrue lists CSC and several exchanges list SOLO... Any thoughts about reaching out to an exchange?

[Julian_Williams]

54 minutes ago, CuentosDeHada said:

Ooh, the first trust line created.

60M HADA and 60M HADALITE on your way. I trust you received it.

Thanks for the support.

@Julian_Williams nice 4 letter domain. Let's not write anything of, this space is crazy.  MILY the cat token could work. The antithesis of DOGE.

https://crypto.com/nft/marketplace?asset=70f1126424e1b39381a7afdb302e1c23&edition=5b25428846cf7a8d09448f390cae6cdc

Does anyone know if this is for the actual vase/cup or just the image?

Mily is worth 50K but I would throw it behind a serious meme token, we could do a meme on Hello Kitty type theme.  In fact I have connections with children book illustrators, see my company website http://www.twobadmice.com and private website https://www.julianwilliams.com

 

But I an the antithesis of techy.  In fact I do everything on etoro because I do not trust myself with a wallet. 

I have a collection of four letter domains - things like YLOR.com  see my mouse olympics images too https://www.julianwilliams.com/mouse-olympics/

 

but for a token you want something really cute like this: https://shop.twobadmice.com/product/a-walk-card/

 

 

 

Edited May 26, 2021 by Julian_Williams

[Julian_Williams]

how about a children's token - for children's games and buying non adult stuff?  I have n idea how easy such a thing is to create?

[Flintstone]

1 hour ago, Julian_Williams said:

Mily is worth 50K but I would throw it behind a serious meme token, we could do a meme on Hello Kitty type theme.  In fact I have connections with children book illustrators, see my company website http://www.twobadmice.com and private website https://www.julianwilliams.com

 

But I an the antithesis of techy.  In fact I do everything on etoro because I do not trust myself with a wallet. 

I have a collection of four letter domains - things like YLOR.com  see my mouse olympics images too https://www.julianwilliams.com/mouse-olympics/

 

but for a token you want something really cute like this: https://shop.twobadmice.com/product/a-walk-card/

 

 

 

If you are interested, I can hook you up with SparklesNFT if you’d like to get some digital art on to the Flare Network when they go live. I’ll be your first customer  

Or I don’t mind minting them for you or helping you out if you like. Just let me know 👍

[Julian_Williams]

I think we have the knowledge here to do something interesting and maybe make ourselves rich at the same time.

I am hoping you will come over one day and help me set up my Flare wallets correctly - when the time is right.

[Julian_Williams]

On Crypto Eri here was a sushi chef minting Sushi NFTs - this stuff is way over my head. 

[Flintstone]

2 minutes ago, Julian_Williams said:

I think we have the knowledge here to do something interesting and maybe make ourselves rich at the same time.

I am hoping you will come over one day and help me set up my Flare wallets correctly - when the time is right.

Yes indeed, no problem whatsoever. I’ll happily help out.
 

Hopefully Towo Labs will have a wallet out soon and we can start to get a feel for how we are going to interact with all things Flare.

Also, regarding NFT’s, it’s becoming very easy to mint them. I think once you’ve done the process once or twice, you’ll be away!

[Julian_Williams]

Just now, Flintstone said:

Yes indeed, no problem whatsoever. I’ll happily help out.
 

Hopefully Towo Labs will have a wallet out soon and we can start to get a feel for how we are going to interact with all things Flare.

Also, regarding NFT’s, it’s becoming very easy to mint them. I think once you’ve done the process once or twice, you’ll be away!

we'll talk when these thing are ready for use. 

[Flintstone]

16 minutes ago, Julian_Williams said:

we'll talk when these thing are ready for use. 

Speak of the devil..... 

https://www.trademarkelite.com/europe/trademark/trademark-detail/018456726/BIFROST

https://en.m.wikipedia.org/wiki/Bifröst Great name!  

[brianwalden]

2 hours ago, Julian_Williams said:

how about a children's token - for children's games and buying non adult stuff?  I have n idea how easy such a thing is to create?

Issuing tokens on the XRPL is fairly easy for anyone with a wallet. I used to send my kids dollar tokens backed entirely by my word. Once @Mercury and I used tokens representing hot dogs to use the ledger as a score board for how many hot dogs we ate.

An XRPL that people use for all this type of small stuff is a better ledger.

[NightJanitor]

https://www.npr.org/2021/05/26/970974320/eric-carle-creator-of-the-very-hungry-caterpillar-has-died

[CuentosDeHada]

23 hours ago, RambeauTeasebox said:

@CuentosDeHada Great to see more experimentation! I'd suggest posting this on Reddit in r/XRP and r/Ripple.

 

Bitrue lists CSC and several exchanges list SOLO... Any thoughts about reaching out to an exchange?

I'd like to do more testing here first. Then will look at expanding to other Social media.

Also, re: CEX. It would be a nice goal to get pair listed.