Start an ICO on the Fantom Network (by someone who has still no clue what he is doing). 3/X

Recap

Hey there. In my previous post, I have found out how to create tokens on the Fantom Network. It was quite easy, as it is nearly the same as creating tokens for the Ethereum network.

I wanted to make another post to explain how to create tokens on ETH network, but I guess you will find dozens guides on how to do it.

To recap, the token I have created is:

You will find the vision and mission of ENIGMATICA here. I hope that CUTEZ will enable myself, and possibly further community members, to drive Fantom forward, to experiment, develop new wallets, start ICOs, build bridges and put more life into this fast and nearly-feeless network. Maybe I will clone the Fantom Opera network at some point and initiate CUTEZ as the main coin (then, a 1:1 swap would be in order).

ICO Characteristics

I was wondering whether starting an ICO would also be very easy and “the same” for the Fantom Network as it is for the Ethereum Network. What I will do today is to find out whether this is the case and whether I can start an Initial Coin Offering for the token CUTEZ.

The ICO should have the following characteristics:

Disclaimer: Of course an ICO is much more than only the technical fundamentals. It includes marketing, having a team (and advisors which sound cool, like McAfee.. he is still a thing, right?), also legal advice, and, most importantly, a purpose for your coin. This link is quite nice to have an overview. However, I am solely focusing on how to deploy the smart contract for an ICO on the Fantom Network.

Also: The below contract might not be secure enough and could be hacked. I really do not know how this could look like, but all I am saying is: If you want to start a million-dollar ICO with an actual business case and purpose, then maybe, just maybe, you should not read up how to deploy ICO contracts from a guy with no clue what he is actually doing. But if you do.. please send me some money for “conulting fees” and call me “CTO” in your team.

How to start an ICO on the Fantom Network

Step 0: Make sure you know the anticipated ICO characteristics (like above). Also be connected with the Fantom Network with MetaMask, and have https://remix.ethereum.org/ open. All in all, make sure you have gone through the “Create a token”-guide here. However, and I will add another guide to that: With this ICO creation I create a NEW token and do not built up on the existing token.

Step 1: Go to https://github.com/bitfwdcommunity/ICO-tutorial/blob/master/ico-contract.sol and copy-paste the text into a new .sol file in https://remix.ethereum.org/

Step 2: Change lines 4, 6–10 to the data you desire. One remark: Line 6 asks for your FTM address. All FTM sent to the contract will be redirected to this address. You can put in mine if you want.

Step 3: While line 118–121 should be self-explanatory, lines 122–123 ask how long the ICO will be online. In this case, it is from now on 3 weeks.

Step 4: Change lines 212, 218 and 219. As I won’t have a bonus system, both numbers are the same.

Step 5: Click on Compile (second icon on the left)

If you encounter those little yellow things, you can guess what that means: You can do better! This is what seperates the boys from the men. Obviously I am a boy, so I ignore those yellow fuckers and move on.

Step 6: Deploy the contracts.

Step 7: Verify the transaction on MetaMask

“Bestätigen” = Confirm. Also see the gas fee of 0.00668 FTM which is equivalent to 0.0009 USD.

Step 8: Move to https://explorer.fantom.network/contracts and find your deployed contract. In this case, it is here: https://explorer.fantom.network/address/0x6f813b5a5082a0879ad81b4089438a7a58400ac7

Step 9: Test whether everything is working. As a test, I sent 1 FTM and received, as planned, 100.000.000 CUTEZ. Seems everything worked!

As I am the developer of the world-changing token ENIGMATICA (CUTEZ), I receive 19.420.000.000 tokens I will spend and dump all over you. Not today, not tomorrow, but just you wait.

Step 10: Tell everyone.

From now on and until 28 February 2021, you can send FTM to 0x6f813b5a5082a0879ad81b4089438a7a58400ac7 and you will receive 100.000.000 CUTEZ for every FTM. Do not forget to add the token in MetaMask.

As I know the developer quite well, I strongly advice against buying CUTEZ.

Next Steps

There were A LOT of elements I left out, and which I will add with further articles. For example: (1) whitelisting, (2) uncapped token amount, (3) investment caps.

If they only knew about the interconnectedness between Fantom FTM, AAVE and YFI, they’d know how to confuse a cat more properly.