How to Create a Vite Token and Customize the Icon & Info

  • Posted by Soi
  • Last updated: May 3, 2023
  • 5 minute read

Learn how to create a Vite token by understanding its creation process and how to add custom details.

Creating a Token on Vite is a relatively simple process. There are however some aspects that users may have questions about such as, should the Vite token have a decimal, what should the max supply be, and should the token be reissuable?

While creating the Vite token is a simple and decentralized process, adding information to the token such as a description and token icon is slightly more difficult and is not a fully decentralized process.

In this article we’ll answer some of the most common questions and even touch on the more complex process of using GitHub to update your token information.

Requirements

There are a couple things you’ll need into order to create a Vite Token, lets get those collected first:

  • A Vite Wallet and a computer to visit x.vite.net on, as it’s not possible to create a token only using the mobile wallet.
  • 1000 Vite. Each token mint costs 1000 Vite, which is burnt upon successful mint.
  • A GitHub account. If you’ve never used GitHub before, this will be the most difficult part of this guide, however we’ll do our best to approach the topic as if you’ve never used GitHub before.
  • A 200x200px .png file of your token icon, and a description. It also helps to have a code editor like Sublime, however a simple text editor that comes with Windows/Mac/Linux will also work.

Create a Token on ViteX

To create the token, we use ViteX. This is a completely decentralized process, so take care when entering in your token specifics as there is no way to change it afterwards.

To start, go to x.vite.net in your browser and connect your wallet by scanning the QR code. Then in the sidebar click on the list button. Don’t know what we’re talking about, check the screenshot for the highlighted icon.

This will open a new section, and from the top select Token Issuance.

This screen is fairly simple to understand, fill in the form, press confirm and pay (burn) the 1000 Vite fee. Done ?. Yeah… hard to believe, but it’s really that easy to mint a token on Vite.

However, there are some fields that may seem confusing. Let’s quickly go over some important information that may answer some common questions.

Should a Vite Token have Decimals?

In most circumstances you’d want a token to have decimals. This is because it allows the token to be dividend into smaller units. Meaning it allows for more precise pricing and can even be used for a wider range of applications giving it more use cases.

Without decimals, it can also make it difficult or impossible to use in staking pools. Imagine if the smallest piece of Bitcoin you could earn or buy was 1 whole Bitcoin, instead of just a fraction of one.

How many Decimals?

In most circumstances you’d want to have 18 decimals. In the Ethereum network, 18 decimals is the standard and has become widely adopted. This also allows for better micropayments or small transactions, which is something Vite specializes in due to is fee-less nature.

Of course, whether a token should have decimals, is up to your planned use case for the token.

What should the total/max supply be?

Token supply can depend on your purpose of the token. A meme token usually has many tokens, in the trillions or quadrillions. A more utility token may be in the 1 to 10 billion. There really isn’t a right answer for this and depends on your planned use case.

It may help to see what some other projects have done.

VITC, VT, VIVA and even us at VS (Vite Spot) have all gone with 1 billion tokens. Where as VINU has gone with 1 quadrillion.

Should the Vite Token be reissueable?

There are some pros and cons to having a reissuable Vite Token. Some of the pros are flexibility, scalability and even liquidity as you can adjust the total supply. The supply can be adjusted to keep up with network growth, incentive use instead of HODLing, prevent large price fluctuations, and even adjust the total supply to match demand.

That all might sound beneficial, however it comes with some large cons as well. This can make the token centralized, and lead to concerns about the issuers influence over the token and its value. It can also discourage users from holding the token for the long term and force them to place trust in the issuer when they might instead prefer a more decentralized alternative. There are some controls however that can be used to help combat this. A total supply can be set, and a max supply can be set. So you could control the total supply available, but have a maximum amount set that can never be exceeded.

It can be a hard decision, so let’s take a lot at what others do. Vite is a reissuable token, with new tokens being created yearly as a means to incentive nodes. It also has the benefit of people more willingly using the token. On the other hand, Vite also has VX, which is non-reissuable, having a fixed supply of 21M. These are earned on ViteX and are valuable because there will never be more than 21M, (and because holding them earns dividends, but we’ll go over that in another article).

Some other tokens such as VITC, VT and even VS all have a non-reissuable supply.

Update Token Icon & Info

Following the above steps, you’ve successfully created your very own token on the Vite network. However it has no icon and no meta data.

We’re going to update a GitHub repository by adding an icon and data about your token, and then upload that to the Vite GitHub page. Once merged by a member of Vite, it’ll show up in the block explorers and even in the wallet apps.

ViteLabs does provide instructions on how to upload you token information and even a guide on using GitHub. We’ll be using those guides and adding a few answers to common questions.

Fork & Submit Repo

crypto-info

Vitelabs controls the crypto-info repo on GitHub. When we fork a repo, we’re basically making a copy of it to our profile. Here, we’ll be adding our token icon, and updating a .json file with our token information. When we’re happy with the changes we’ve made, then we request to pull our changes into the main repo owned by Vitelabs. When it gets merged into the main repo, then your uploaded icon and info are added to the mobile apps and block explorers automatically.

Vite provides a good tutorial and guidelines for a new token submission: Vite Token Profile Submission Guideline. This shows information and requirements about your token, such as the required image format and size, along with the kind of information you can attach to your token such as social links. It even has an example of what a .json file looks like. Make sure to throughly read it.

If you’re completely new to GitHub however, that may still be confusing. Thankfully, Vite also provides instructions on how to fork and submit a pull request, complete with screenshots. View it here: Github Guideline

When it’s successfully submitted, a member of Vite will review it and merge it ?.

We hope this helped you create a token and answer any questions you may have had. However if you still need help or aren’t understanding how to use GitHub, please leave a comment below, or join us on our Discord Server and we’ll try to help you further.